Global Commerce Cloud Market

Commerce Cloud Market Size, Share, Growth Analysis, By Type(Platform, and Services), By Offering(Private Cloud, Public Cloud, and Hybrid Cloud), By Enterprise Size(SMEs, and Large Enterprises), By Vertical(Fashion and Apparel, Electronics and Appliances, Food and Beverages, Pharmaceutical and Grocery), By Region - Industry Forecast 2025-2032


Report ID: SQMIG45B2102 | Region: Global | Published Date: September, 2024
Pages: 197 | Tables: 96 | Figures: 76

Commerce Cloud Market Dynamics

Drivers

Adoption of Advanced Technologies  

  • Blockchain is being used in the commerce cloud for safer, more transparent, and efficient transactions, the market looks promising. By adopting a decentralized ledger system, blockchain adds to the trustworthiness of commerce processes, especially in the case of cross-border transactions. Apart from this, the Internet of Things has been adopted in the commerce cloud for a rather interactive and informed shopping experience for the customers.  

Increasing Business Expansion  

  • The market is surging as an increase in the disposable income of individuals in different regions and higher customer online spending behavior is providing a positive outlook. In addition, the commerce cloud helps businesses to seamlessly expand to international markets where the cloud assists in dealing with different currencies, tax regulations, shipping logistics, and simplifying other cross-border trading.  

Restraints 

Increasing Problem of Reliable Connectivity  

  • The commerce cloud solutions are dependent on the good connectivity and strong infrastructure of the internet. In the areas where the internet is less supportive or weak infrastructure, then businesses face difficulties in a consistent online shopping process. It creates dissatisfaction among the customers, which reduced the scope of the commerce cloud solutions.  

Extensive Requirement for Customization and Modification  

  • There are a variety of features and capabilities provided by commerce cloud platforms, however most of the businesses using some applications or adjusting the customization of a user interface brings limitations. Often the user interface, workflow processes, or integration of specific applications, third-party tools are subject to constraints. Many businesses face a lack of flexibility when they cannot adopt custom business processes or have to implement only standardized business processes. 
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FAQs

Commerce Cloud Market size was valued at USD 26.23 billion in 2022 and is poised to grow from USD 31.68 billion in 2023 to USD 143.68 billion by 2031, growing at a CAGR of 20.8% during the forecast period (2024-2031).

Companies are making considerable innovative efforts to broaden their product range to address the ever-changing demands of businesses and customers. They are concentrating on numerous research and development activities on developing advanced features, such as AI-driven personalization and real-time analytics. Additionally, they are basing their work on scalability to contribute to the development of small start-ups and global corporations. Among other innovations, many companies are for multi-lingual and multi-currency support to make it easier both for businesses and customers to join cross-border commerce. Furthermore, they are selecting their applications to correspond to peculiarities and goals of various industries and integrating eco-friendly practices into their services to attract more customers.  'IBM ', 'SAP ', 'Salesforce Commerce Cloud ', 'Adobe Commerce Cloud (Magento) ', 'Shopify ', 'BigCommerce ', 'VTEX ', 'commercetools ', 'Episerver (now part of Optimizely) ', 'Oracle Commerce ', 'Kibo Commerce ', 'Elastic Path ', 'Sitecore Experience Commerce ', 'Digital River ', 'Apttus ', 'Voyado ', 'Optimizely ', 'HCL Technologies ', 'Acumatica ', 'Sana Commerce'

Blockchain is being used in the commerce cloud for safer, more transparent, and efficient transactions, the market looks promising. By adopting a decentralized ledger system, blockchain adds to the trustworthiness of commerce processes, especially in the case of cross-border transactions. Apart from this, the Internet of Things has been adopted in the commerce cloud for a rather interactive and informed shopping experience for the customers.  

Implementation of Unified Commerce Platforms: Omnichannel commerce is commonly used in most retailers. All the information regarding customers is pulled out of a variety of channels using inventory management software, point-of-sale platforms, customer relationship-management platforms, and so on. Unified commerce is gaining more traction among users as it is a more advanced version of omnichannel commerce, which situates a single holistic pane of customer profiles in real-time across the web, mobile, and other retailers’ operations.  

North America is the leading region by demand share in the commerce cloud market in 2023. This market is developing rapidly due to the active implementation of digital transformation strategies and advanced cloud technologies throughout the region. The growth of rapid adoption is facilitated by the shift to e-commerce and omnichannel sales, driven by the goal of high-speed digital transformation to improve customer experience and business processes: the existence of major technology hubs and a highly developed infrastructure favors this tendency. The market is supported by high investment in continued innovation and infrastructure, as well as a high emphasis on customer interaction through digital refinement. The growing need for massive and customer-centric transactions that require agile and scalable solutions is an opportunity.  

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Global Commerce Cloud Market

Report ID: SQMIG45B2102

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