MarketsandMarkets forecasts the global commerce cloud market size is expected to grow from USD 8.9 billion in 2019 to USD 27.0 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 24.9% during the forecast period. An increasing number of businesses moving online are expected to provide huge opportunities in the market.
According to MarketsandMarkets, commerce cloud is a part of digital commerce that provides a cloud-based, multi-tenant, Business-to-Business (B2B), and Business-to-Customer (B2C) commerce platform. It enables intelligent and unified buying experiences across channels such as mobile, websites, social media platforms, and offline stores. The platform aids in the digital business growth of brands by enabling rapid deployment and enhanced customer reach.
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Some of the major commerce cloud vendors are IBM (US), SAP (Germany), Salesforce (US), Apttus (US), Episerver (US), Oracle (US), Magento (US), Shopify (Canada), BigCommerce (US), and Digital River (US), Elastic Path (Canada), VTEX (Brazil), commercetools (Germany), Kibo (US), and Sitecore (India). These commerce cloud vendors have adopted various organic and inorganic strategies to sustain their positions and increase their market shares in the global commerce cloud market.
IBM is one of the leading players in the commerce cloud market. Founded in in 1911, IBM is headquartered in New York, US. As of December 2018, the company had 381,100 employees globally. The company’s major operating sector consists of 5 business segments, namely, cognitive solutions, global business services, technology services and cloud platforms, systems, and global financing. IBM has a broad and robust product portfolio and majorly focuses on improving the product efficiency of analytics, cloud, cognitive, commerce, Internet of Things (IoT), industry solutions, systems, mobile, security, social, and Watson technologies. In May 2019, IBM entered into a partnership with ‘Vodafone Idea’ (an Aditya Birla Group and Vodafone Group partnership). The partnership provides Vodafone Idea with a hybrid cloud-based digital platform for more intimate engagement with its more than 385 million subscribers enhancing business efficiency, agility, and scale plus simplification of its business processes. The new infrastructure platform removes the complexities in the exponential growth of data consumption by increasing access to video, streaming, and digital commerce.
Another leading company in the commerce cloud market is SAP, which was founded in 1972 and is headquartered in Walldorf, Germany. The company categorizes its diverse portfolio into applications; technologies and services; and SAP business network segment. As of 2018, SAP has an employee strength of 93,709 with a total customer base of more than 345,000 spread across 180 countries. It caters to various industries, such as Banking, Financial Services, and Insurance (BFSI), public services, telecommunications, and media and entertainment. In May 2019, SAP announced the Embrace, a partnership program with Microsoft Azure, Amazon Web Services (AWS), Google Cloud, and global strategic service partners. The Embrace planned to underpin technology services required to help customers and achieve the best business outcomes.
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MarketsandMarkets forecasts the global commerce cloud market size is expected to grow from USD 8.9 billion in 2019 to USD 27.0 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 24.9% during the forecast period.
An increasing number of businesses moving online are expected to provide huge opportunities in the market.According to MarketsandMarkets, commerce cloud is a part of digital commerce that provides a cloud-based, multi-tenant, Business-to-Business (B2B), and Business-to-Customer (B2C) commerce platform.
It enables intelligent and unified buying experiences across channels such as mobile, websites, social media platforms, and offline stores.
The platform aids in the digital business growth of brands by enabling rapid deployment and enhanced customer reach.Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=140063261Some of the major commerce cloud vendors are IBM (US), SAP (Germany), Salesforce (US), Apttus (US), Episerver (US), Oracle (US), Magento (US), Shopify (Canada), BigCommerce (US), and Digital River (US), Elastic Path (Canada), VTEX (Brazil), commercetools (Germany), Kibo (US), and Sitecore (India).
These commerce cloud vendors have adopted various organic and inorganic strategies to sustain their positions and increase their market shares in the global commerce cloud market.IBM is one of the leading players in the commerce cloud market.
Founded in in 1911, IBM is headquartered in New York, US.
Commerce Cloud MarketMarket Research Future (MRFR), in its latest “Commerce Cloud Market” report, states that the global market of commerce cloud is expected to thrive at a CAGR of 22.7% and attain a valuation of USD 25.2 Billion by 2025.Major benefits offered by a centralized commerce platform are an analysis of customer behavior and unify inventory that is highly desirable by enterprises.
The growing demand for a centralized buying platform to execute B2C businesses is adding to the momentum of the market.
With the advent of technologies, such as AI and IoT, and they are being exercised across commercial ventures is serving the growing need for making business procedures seamless.
Additional causes that are anticipated to impel the commerce cloud market are rise in need to simplify installation complexities and analyze consumer data.
On the contrary, the skepticism of cloud-based technology can hinder the growth of the global commerce cloud market.Drivers and RestraintsThe several driving factors expected to influence the growth of the commerce cloud market are the Augmented AI adoption in all commercial ventures, Demand for a centralized purchasing platform across B2C business verticals, the Need for a tool to collect and evaluate data pertaining to customer buying habits, Ease of maintenance and decrease in installation intricacy, Business requirement for data-driven insight, Shift from retail to e-commerce for most enterprises, and Automated merchandising.On the other hand, factors likely to restrain the market growth over the review period are the Skepticism of cloud-based technology and the Significant learning curve for using this technology.Segmental AnalysisThe global market for commerce cloud is segmented on the basis of component, service, installation platform, enterprise type, and application.By Component, the commerce cloud market has been segmented into b2b, which is Excellent for understanding B2B needs and studying the purchasing patterns of clients; and b2c, which Assists in streamlining checkout and understanding ideal average order value and customer preference.By Service, the market has been segmented into training and consulting, integration and deployment, support, and maintenance.
Support and maintenance services include knowledge transfer, 24x7 support, service enhancements, and production support.
Commerce Cloud Market SynopsisThe global commerce cloud market is expected to grow at a CAGR of 22.7% during the forecast period and cross USD 25.2 billion by 2025.Market USPIncreased adoption of cloud commerce, especially by businesses invested in e-commerce.Market Drivers- Increased AI adoption in all commercial ventures- Demand for a centralized buying platform across B2C business verticals- Need for a tool to collect and analyze data pertaining to customer purchasing habits- Ease of maintenance and reduction in installation complexity- Business requirement for data-driven insight- Shift from retail to e-commerce for most enterprises- Automated merchandizingSegmentationBy ComponentCommerce clouds offer a specialized view for B2B as well as B2C businesses.
B2B commerce cloud focuses on analyzing the economic relationship between two businesses in the long term, with special emphasis on logical planning.
Considering the 1.7 billion online shoppers in 2017 and the increasingly competitive nature of e-commerce, a B2B model is crucial in gaining an understanding of consumer behavior and the concurrent inventory and transaction management that must go with it.
In India alone, logistics costs stand at 14% of GDP, a very large amount when compared to other economies due to the fragmented nature of the logistics sector.
Employing commerce cloud can help reduce this number drastically.Get Sample @ https://www.marketresearchfuture.com/sample_request/8381By ServiceThe service segment is expected to grow as cloud commerce evolves and collates increasing amounts of data.
Its highly scalable nature along with the flexibility inherent to it ensures that it can facilitate unique solutions for all enterprises.By ApplicationThe applicability of cloud commerce is vital across all business verticals.
The rapid adoption of commerce cloud across the various enterprises is the major factor driving the global commerce cloud market 2020.
There has been an inclination towards e-commerce from the past few years, which is estimated to be a significant factor driving the commerce cloud market.
However, the hesitation to adopt the cloud-based technology is anticipated to be a restraining factor.
Furthermore, a precise evaluation of factors augmenting and impeding the market in the post-COVID-19 environment has been analyzed.
Request a Free Sample Report @ https://www.marketresearchfuture.com/sample_request/8381Market Segmentation The commerce cloud market can be segregated on the basis of component, service, enterprise size, application, installation platform, and region.Based on components, the global commerce cloud market can be classified into B2B Commerce Cloud and B2C Commerce Cloud.Based on service, the commerce cloud market can be classified into Training and Consulting, Support and Maintenance, and Integration and Deployment.Based on enterprise size, the global commerce cloud market can be classified into Large Enterprises and Small and medium enterprises.Based on application, the commerce cloud market can be classified into Electronics, Furniture, and Bookstores, Quick Service Restaurants, Beauty and Cosmetics, Fashion and Apparel, and others.Based on the installation platform, the global commerce cloud market can be classified into Based on the region, the commerce cloud market can be classified into North America, Middle East & Africa, Asia-Pacific, Europe, and South America.
Regional Analysis The geographical analysis of North America, the Middle East & Africa, Asia-Pacific, Europe, and South America has been conducted.
