The commerce cloud solutions market size at the global level is expected to reach USD 59 billion by 2027 from USD 14 billion in 2022 with a growing CAGR of 18% during the foretold period.
Commerce cloud is known as cloud-based software and is used as a service e-commerce platform. Cloud-based solutions permit retailers to meet the customer's demand with omnichannel shopping and delivery experience. For instance, SAP SE provides Grocery Commerce Cloud, particularly for the grocers.
Commerce Cloud is a cloud-based service for business-to-business and business-to-customer commerce permitting businesses to build an informed and consistent buying experience.
The commerce cloud aims to enable customers and brands to provide perfect services and experiences.
The demand for commerce cloud solutions is growing at a significant rate due to the increment in e-commerce business globally. The demand for e-commerce is high as the number of internet users is growing. The market for commerce cloud solutions has witnessed significant growth due to
The united adoption of commerce platforms is escalating the commerce cloud solutions market. The united commerce consists of an end-to-end combination of software solutions within a centralized e-commerce platform. Additionally, the growing adoption of the commerce cloud solutions market is heightening due to the growth in fifth-generation wireless networks. For example, smartphones and other connected devices like tablets and laptops have appeared as the most effective channel to run applications like e-commerce activities, online retailing, and payments. Advanced technologies like Artificial Intelligence (AI), Blockchain, Bigdata, and Internet of Things (IoT) are to transform the online business ecosystem. These advanced technologies are being executed to magnify develop targeted advertisements, data collection, and boost transaction costs.
In 2018, a Chinese player named Alibaba Group integrated with Cainiao Logistics Information Technology Co, Ltd., owned a website T-mall.com which is an online retail business-to-consumer (B2C). With this procurement, the Chinese player utilized blockchain technology in its supply chain operations for efficient product tracking and attain entire transparency about product purchases.
However, security and privacy concerns like Network Security and Data Security are anticipated to hamper the market growth. The shortage of cybersecurity laws hinders the market.
Recent Market Developments
As per the research report, the global commerce cloud solution market is segmented based on component, organization size, application, and application.
The platform component is said to hold the largest share during the scheduled period. The platform segment is sub-segmented into Business-to-Business(B2B), and Business-to-Commerce (B2C). The B2C segment is expected to obtain maximum attention from brands and retailers. The platform component provides magnified consumer experiences like website, social media, mobile, and offline stores. Features like data-driven commerce insights, product recommendations, and generation of one-to-one predictions.
Business-to-Business (B2B) commerce cloud is outstanding B2B needs and examining the procuring patterns of clients.
Business-to-Clients (B2C) assist in restructuring checkout and understanding absolute moderate order value and customer choice.
The services segment is the quickest growing in the market. The segment is said to hold the prominent growth in the market as they add value to the interactions with customers along with improved costs and upgrade loyalty.
The small and medium-sized enterprises merit commerce cloud technology attributed to analytics capabilities and help in reducing excess and maintaining a more gainful inventory.
Large enterprises benefit hugely by understanding the acquiring the client habits.
The fashion and apparel application segment is projected to hold a significant and maximum share in the market. The fashion and apparel brands deliver common content, targeted advertisements, and campaigns and offer based on browsing history, and online channels like social media or the web. In 2018, Salesforce.com Inc. broadcasted that NYDJ, denim, and apparel brand has used the Salesforce commerce and marketing cloud to increase direct-to-consumer online networks and flawlessly deliver personalized shopping experience to their customers.
The travel and hospitality segment is witnessing quick CAGR growth.
North America is expected to remain a dominating region globally. The growth attributes to the rising adoption of digital platforms with the growing availability of digital services and infrastructure. The strong and quick innovation ecosystems and developments in the Internet of Things (IoT) help the market to succeed.
Europe is said to exhibit tremendous growth in the commerce cloud solution market. The e-commerce services in Europe include digital transactions, Innovations & E-Commerce Trustmark, and e-regulations. The customer's online shopping percentage has ranged from 22% to 88%, as per the European E-Commerce Report 2022.
However, Asia-Pacific is witnessing high and quick growth throughout the foretold period.
Australia, India, China, and Japan have created immense opportunities in commerce cloud solutions.
China holds the maximum share in strengthening the market further. India is witnessing quick growth in the commerce cloud solutions market. The Government of India has come forward with new initiatives like the 'Digital India Initiative' incredibly for digitization and cloud infrastructure development, providing fresh and new opportunities throughout the region. Japan is to hold significant growth in cloud adoption attributed to the easy availability of in-country infrastructure offered by fixed cloud providers like IBM Corporation Cloud Services, Amazon Web Services (AWS), and others.
The commerce cloud solutions market in Latin America is slated to have a motionless market across the region. The region's growth is credited due to ICT and administrative infrastructure inabilities.
Besides all the regions, the Middle East and African regions are anticipated to showcase average growth during the timeframe period. In MEA, mobile internet adoption is increasing and social media usage continues its growing demand and is offering remunerative growth opportunities in the region.
The SARS-CoV-2 reagent is the main cause for the sudden outburst of the novel coronavirus (COVID-19). World Health Organization (WHO) announced an emergency public health issue. During the pandemic crisis, businesses have changed thoroughly. The occurrence of COVID-19 has adversely affected almost every industry globally.
However, customers were unable to do physical transactions due to the temporary lockdowns imposed by governments across the globe. The pandemic has accelerated online sales.
Salesforce has decided to build new four packages of services very quickly for customers specifically designed to help organize business during the pandemic period.
Moreover, Shopify has seen more focus from large businesses, especially traditional retailers and consumer packaged goods companies that use on-premises infrastructure due to the COVID-19 pandemic crisis. This has brought a new wave of interest in e-commerce.
Chapter 1. Global Commerce Cloud Solution Market – Scope & Methodology
1.1. Market Segmentation
1.3. Research Methodology
1.4. Primary Sources
1.5. Secondary Sources
Chapter 2. Global Commerce Cloud Solution Market – Executive Summary
2.1. Market Size & Forecast – (2021 – 2027) ($M/$Bn)
2.2. Key Trends & Insights
2.3. COVID-19 Impact Analysis
2.3.1. Impact during 2022 - 2027
2.3.2. Impact on Supply – Demand
Chapter 3. Global Commerce Cloud Solution Market – Competition Scenario
3.1. Market Share Analysis
3.2. Product Benchmarking
3.3. Competitive Strategy & Development Scenario
3.4. Competitive Pricing Analysis
3.5. Supplier - Distributor Analysis
Chapter 4. Global Commerce Cloud Solution Market Entry Scenario
4.1. Case Studies – Start-up/Thriving Companies
4.2. Regulatory Scenario - By Region
4.3 Customer Analysis
4.4. Porters Five Force Model
4.4.1. Bargaining Power of Suppliers
4.4.2. Bargaining Powers of Customers
4.4.3. Threat of New Entrants
4.4.4. Rivalry among Existing Players
4.4.5. Threat of Substitutes
Chapter 5. Global Commerce Cloud Solution Market - Landscape
5.1. Value Chain Analysis – Key Stakeholders Impact Analysis
5.2. Market Drivers
5.3. Market Restraints/Challenges
5.4. Market Opportunities
Chapter 6. Global Commerce Cloud Solution Market – By Component
6.2.1. Training and Consulting
6.2.2 .Integration and Deployment
6.2.3. Support and Maintenanc
Chapter 7. Global Commerce Cloud Solution Market – By Organization Size
7.1. Large Enterprises
7.2. Small and Medium Enterprises
Chapter 8. Global Commerce Cloud Solution Market – By Application
8.1. Electronics, Furniture, and Bookstores
8.2. Grocery and Pharmaceutical
8.4. Fashion and Apparel
8.5. Quick Service Restaurants
8.6. Travel and Hospitality
8.7. Beauty and Cosmetics
Chapter 9. Global Commerce Cloud Solution Market, By Geography - Market Size, Forecast, Trends & Insights
9.1. North America
9.2.7. Rest of Europe
9.3. Asia Pacific
9.3.2. South Korea
9.3.5. Australia & New Zealand
9.3.6. Rest of Asia-Pacific
9.4. Rest of the World
9.4.1. Middle East
9.4.3. South America
Chapter 10. Global Commerce Cloud Solution Market – Company Profiles – (Overview, Product Portfolio, Financials, Developments)
10.1. Company 1
10.2. Company 2
10.3. Company 3
10.4. Company 4
10.5 Company 5
10.6. Company 6
10.7. Company 7
10.8. Company 8
10.9. Company 9
10.10. Company 10
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