What is the global market size of Commerce Cloud Market?

Global Commerce Cloud Market size was valued at USD 21.72 billion in 2021 and is poised to grow from USD 26.23 billion in 2022 to USD 118.96 billion by 2030, growing at a CAGR of 20.8% in the forecast period (2023-2030).

Who are the key vendors in the Global Commerce Cloud Market?

The competitive environment of the commerce cloud market is dynamic and marked by the presence of key players competing to establish market dominance. E-commerce platform providers, including Shopify and Magento, contribute to the competition by offering specialized services. The market also witnesses the entry of innovative startups focusing on niche segments or introducing novel features. Competition is characterized by continuous technological advancements, with an emphasis on enhancing user experiences, scalability, and integration capabilities. Partnerships, mergers, and acquisitions are common strategies employed by key players to expand their offerings and global reach. 'IBM', 'SAP', 'Salesforce Commerce Cloud', 'Adobe Commerce Cloud (Magento)', 'Shopify', 'BigCommerce', 'VTEX', 'commercetools', 'Episerver', 'Oracle Commerce', 'Kibo Commerce', 'Elastic Path', 'Sitecore Experience Commerce', 'Digital River', 'Apttus', 'Voyado', 'Optimizely', 'HCL Technologies', 'Acumatica', 'Sana Commerce'

What is the key driver of Global Commerce Cloud Market?

The rising need for smooth and tailored-made customer encounters. Through their Commerce Cloud solution offerings, companies are able to provide personalized shopping experiences based on customer data analysis and artificial intelligence. Another catalyzing factor is the continual growth of e-business which is facilitated by the spread of digital channels and the expanding influence of internet sales. The businesses that understand the value of omnichannel approach have invested in the commerce cloud platform to consolidate and enhance the sales channel both in offline and online markets.

What is the key market trend for Global Commerce Cloud Market?

Headless commerce architectures are gaining momentum as they give companies the ability to offer smooth and tailored interactions in different contact points. Other notable trends include using AI and ML in Commerce clouds to improve the ability to target customers accurately and predictively. Progressive web applications (PWA) or progressive internet apps are another significant growth area that helps consumers engage with their favourite brands through better mobile commerce experiences.

Which region accounted for the largest share in Global Commerce Cloud Market?

The commerce cloud market will probably be dominated by North America alone. The dominance is due to the maturity of the business environment, wide technological adoption, and strong digital facilities. Some of the major economies like the United States and Canada have propelled a majority of their investments into Commerce cloud that aims at boosting online business as well as increasing consumer enjoyment.

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 2024-2031

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

Commerce Cloud Market News

In May 2024, Salesforce has introduced three new commerce cloud innovations. These include new features to improve commerce site development and the checkout process. These facilities allow for revenue and deliver personalized customer experiences. They have become possible due to the higher demand for seamless, omnichannel experience.
In September 2023, Merkle released a global accelerator for Salesforce Commerce Cloud. Such a facility allows users to integrate Contentful and Magnolia into the cloud using a modern, composable, API-first architecture.
In October 2022, Oracle unveiled new services that will incorporate and automate end-to-end business-to-business transactions. It will help companies to decrease the expense of doing business, improve the customer experience, and provide new offers.

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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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What is the global market size of Commerce Cloud Market?

Who are the key vendors in the Commerce Cloud Market?

What is the key driver of Commerce Cloud Market?

What is the key market trend for Commerce Cloud Market?

Which region accounted for the largest share in Commerce Cloud Market?

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