New York, USA, Jan. 18, 2022 (GLOBE NEWSWIRE) -- Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “Commerce Cloud Market information by Service, by Components, by Installation Platform and Region – forecast to 2025” market size to reach USD 25.2 billion, growing at a compound annual growth rate of 22.7% by 2025.
Market Scope:
Commerce Cloud is a cloud-based service for business-to-business and business-to-customer commerce that enables businesses to build an informed and cohesive buying experience. It aids the company in unifying the way businesses interact with consumers through all channels or devices. The goal of the commerce cloud is to allow customers and brands to offer flawless experiences and services.
Dominant Key Players on Commerce Cloud Market Covered are:
- 2Checkout
- Apttus Corporation
- BigCommerce Pty. Ltd
- commercetools GmbH
- Episerver
- Digital River Inc.
- Elastic Path Software Inc
- Verve Industrial Protection
- IBM Corporation
- Kibo Commerce
- Adobe Incorporated (Magento)
- Oracle Corporation
- Salesforce
- SAP SE
- Shopify
- Infosys (SKAVA)
- Unilog Content Solutions Pvt. Ltd
- VTEX
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Market USP Exclusively Encompassed:
Market Drivers
The growing emphasis of organizations on improving customer experience and the need to maximize operational performance are the major factors driving the market growth of the commerce cloud. Furthermore, as more companies move online and the need to manage multiple storefronts grows, the demand for commerce cloud will rise during the forecast period. Commerce cloud offers a seamless shopping experience, and features such as scalability are propelling the commerce cloud market forward. However, scepticism about using cloud-based solutions is impeding the growth of the commerce cloud market during the forecast period.
Segmentation of Market Covered in the Research:
The global commerce cloud market has been segmented on the basis of component, service, installation platform, enterprise size, and application.
By component, the global commerce cloud market has been segmented into B2B commerce cloud and B2C commerce cloud. B2B commerce cloud is excellent for understanding B2B needs and analyzing the purchasing patterns of clients. B2C Commerce Cloud assists in streamlining checkout and understanding ideal average order value and customer preference.
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By service, the global commerce cloud market has been segmented into Training and Consulting, Integration and Deployment, and Support and Maintenance.
By installation platform, the global commerce cloud market has been segmented into desktop and mobile. Desktop is the larger market within this segment. The desktop cloud market is projected to keep growing. Mobile is the faster-growing segment. The mobile commerce cloud installation is increasing due to the shift in e-commerce from desktops to mobiles.
By enterprise size, the global commerce cloud market has been segmented into small and medium enterprises and large enterprises. Small and medium enterprises critically benefit from commerce cloud technology due to its analytics capability, which aids reduce redundancy and maintain a more profitable inventory. Large enterprises benefit greatly by understanding the purchasing habits of all their clients.
By application, the global commerce cloud market has been segmented into fashion and apparel, electronics, furniture, and bookstores, quick service restaurants, grocery and pharmaceuticals, beauty and cosmetics, and others.
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Regional Analysis
Region-wise, the global commerce cloud market has been segmented into North America, Europe, Asia Pacific, and the rest of the world.
North America is the largest regional market, and cloud technology adoption is strong due to the involvement of many major players in this market. The commerce cloud market has successfully developed a foothold in all of this region's business enterprises.
The European market is expanding as a result of the spread of this technology to the region's SMEs, aided by an increase in e-commerce.
The Asia Pacific is the fastest-growing market due to the region's strong economic growth; Asia Pacific companies are increasingly looking to cloud technologies to help them expand their businesses.
Despite the fact that the Middle East and Africa are a small market segment, countries such as Israel and South Africa within the region are increasingly looking to commerce cloud technology to help their businesses.
COVID-19 Impact on the Global Commerce Cloud Market
COVID-19 is an incomparable global public health emergency that has impacted almost every sector, with long-term consequences anticipated to affect industry development over the forecast period.
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Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
