Global Commerce Cloud Market Size to Reach USD 84.60 Billion in 2030 | Emergen Research

Vancouver, Sept. 14, 2023 (GLOBE NEWSWIRE) -- The global commerce cloud market size was USD 12.72 Billion in 2021 and is expected to register a revenue CAGR of 23.6% during the forecast period, according to the latest analysis by Emergen Research. Market revenue growth is primarily driven by factors such as increasing widespread acceptance of cloud computing solutions across sectors. According to a study conducted in 2019, over 94% of organizations utilize cloud in some capacity, with 91% of them using public clouds and 72% using private ones.

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In addition, majority of firms use both public and private clouds, with 69% choosing hybrid cloud solutions. For example, in June 2020, HCL Technologies collaborated with Google Cloud and integrated HCL Commerce with Google Cloud to support enterprises' e-commerce ambitions, Google Cloud, and HCL Commerce, jointly delivering safe and elastic infrastructure. HCL plans to use Anthos to make multi-cloud and hybrid cloud deployments of HCL Commerce possible.

Customer expectations have greatly increased as a result of automobile industry's widespread adoption of digitalization of the purchase process, which includes everything from vehicles to aftermarket parts and services. Customers increasingly anticipate to be able to connect with digital retail channels when shopping for a car. Dealers are increasingly concentrating on acquiring aftermarket components and add-ons for resale. Given how quickly the automobile business is changing, it is essential to meet clients where they are and accept new style of purchasing. Connecting data between OEM and dealers on top of a flexible, dependable, integrated, and tested commerce platform is also important, which serves as cornerstone of a digital commerce experience. 80% of consumers now spend bulk of their time online while looking for a new car. Furthermore, rising trend of online activities in automobiles creates a high demand for commercial cloud.

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Scope of Research

Major Companies and Competitive Landscape

The global commerce cloud market is fairly fragmented, with many large and medium-sized players accounting for the majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective commerce cloud. Some major players included in the global commerce cloud market report are:

• IBM
• SAP
• Salesforce Inc.
• Voyado Lund AB
• Optimizely, Inc.
• Oracle
• Adobe
• Shopify Inc.
• BigCommerce Pty Ltd.
• Digital River Inc.
• Alibaba Group Holding Limited
• HCL Technologies

Strategic Development

• On 15 September 2022, Marketplacer, based in the U.S. announced that Marketplacer Salesforce Commerce Cloud (SFCC) Cartridge is now available to clients across the world on Salesforce AppExchange. Marketplacer is a global platform that helps companies, merchants, suppliers, communities, and innovators to effortlessly develop and operate successful online markets at scale. Marketplacer SFCC Cartridge aids organizations in putting into practice a curated marketplace or range extension model that provides adaptable business alternatives for third-party selling and supplements current commerce strategies. By 2027, it is expected that curated markets will contribute significantly to retail marketplaces, making up 60% of all eCommerce worldwide. Through a continuous data stream of product information, Marketplacer's SFCC Cartridge enables organizations to synchronize catalogs between Marketplacer and Salesforce commerce cloud, lowering risk associated with transfer of third-party products.

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Some Key Highlights from the Report

• The small and medium-sized segment is expected register a significant revenue CAGR throughout the forecast period. Salesforce predicts that Small and Medium-sized Enterprises (SMEs) will increase their investments in technology, particularly in areas such as financial software, security systems, and customer relationship management programs. Cloud computing's adaptive design allow many small and medium-sized enterprises to become economically viable. SMEs do business more rapidly and successfully as a result of being adaptable, fast, and agile. Moreover, cloud computing allows SMEs to reduce costs, both Capex and Opex, particularly with respect to IT resources, power, and energy. Furthermore, cloud computing significantly lowers cost associated with purchase and maintenance of physical hardware as infrastructure is owned, managed, and maintained by the service provider.
• The pharmaceutical e-commerce market witnessed tremendous pandemic-related growth, as seen by statistics from CVS, which showed that the business saw online prescription orders climb by 1,000% during the pandemic's early phases. Pharmaceutical e-commerce can make it simple, effective, and transparent to buy prescription drugs in both B2B and B2C settings. This inevitably result in higher pharmaceutical vendor and manufacturer preparation to keep up with and successfully compete in this rapidly expanding market. For example, Amazon and Alibaba have disclosed large investments in their online pharmaceutical operations during the past year. Through Amazon, the platform of online retailer, patients obtain prescription medications. Alibaba Health promises to provide comparable services and other pertinent technologies for both patients and physicians. Such trends are expected to increase revenue growth of this segment.  
• The North America market accounted for largest revenue share in 2021 owing to presence of several industry participants, including IBM, Salesforce, Oracle, and others. To support regional growth, these locally based solution providers are making large investments and advancements in commerce cloud space. In addition, the area is increasing number of strategic alliances and partnerships with other international companies, which will aid regional players in establishing and bolstering their worldwide presence. For example, SAP SE, connected SAP Commerce Cloud Solution travel accelerator with Onesait Hospitality suite from Minsait, a part of Indra and digital transformation consultancy. SAP will be able to help its clients in the hospitality sector, notably hotel chains, to better serve passengers by making new goods and services accessible in a single commerce system across many channels, including mobile, social, and internet. This would result in a significant increase in market revenue for North America.
• On October 2019, Deity Falcon was introduced by BigCommerce in collaboration with Deity, a micro services-oriented platform. For BigCommerce, it has Progressive Web Applications (PWA), which will reduce development costs and time-to-market by creating seamless selling experiences across a range of channels.

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Emergen Research has segmented the global commerce cloud market based on component, organization size, application, and region:

• Component Outlook (Revenue, USD Billion; 2019-2030)
  • Platform

1. Business to Business (B2B)
2. Business to Customer (B2C)

• Service

• Organization Size Outlook (Revenue, USD Billion; 2019-2030)
  • Large Enterprises
  • Small & Medium Enterprises (SMEs)
• Application Outlook (Revenue, USD Billion; 2019-2030)
• • 1. Consulting
    2. Integration & Deployment
    3. Support & Maintenance

• • Fashion & Apparel
  • Electronics, Furniture & Bookstores
  • Grocery & Pharmaceuticals
  • Automotive
  • Travel & Hospitality
  • Others
• Regional Outlook (Revenue, USD Billion; 2019–2030)
  • North America
    1. U.S.
    2. Canada
    3. Mexico
  • Europe
    1. Germany
    2. France
    3. UK
    4. Italy
    5. Spain
    6. Benelux
    7. Rest of Europe

• • Asia Pacific
    1. China
    2. India
    3. Japan
    4. South Korea
    5. Rest of APAC

• • Latin America
    1. Brazil
    2. Rest of LATAM
  • Middle East & Africa
    1. Saudi Arabia
    2. UAE
    3. South Africa
    4. Turkey
    5. Rest of Middle East & Africa

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