The Global Commerce Cloud Market Size was valued at USD 12.32 billion in 2019 and is anticipated to grow to USD 55.67 billion by 2027, at a CAGR of 20.8%.
The two biggest market trends today are social media and unified commerce. While the spread of the COVID-19 pandemic is likely to create previously unheard-of opportunities for this market in the near future, the disruption of fifth-generation wireless technology is predicted to drive the market growth for commerce cloud. OLA Mobility Institute (OMI) report from April 2020 states that gig workers deliver necessary goods and services to homes on behalf of the affected regions’ residents, ensuring their safety. According to the report, social partnerships and joint ventures between regional governments and platform companies are essential to crisis management. This data shows that customers would prefer online glossaries and that online delivery is likely to have a significant impact, which is expected to increase market adoption.
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Information about the report:
- Forecast Timeframe: 2020-2027
- The starting year is 2019.
- Market Size in 2019 – USD 12.32 billion
- The market size in 2027 will be USD 55.67 billion
- CAGR – 20.8 %
- Segments Included: according to deployment type, application, enterprise type, sector, and geographic region
The Commerce Cloud Market is a large and growing sector that covers various aspects, such as market size, market share, market segment, and industry. The market size is the total amount of money service providers make from selling their products to consumers. Market share is the percentage of the market that is under the control of one provider or a group of providers. The term market segment refers to the different categories of applications based on their functions, features, or target users. The term industry refers to the different sectors or domains that use applications for their business operations or activities.
Analyses of the worldwide Commerce Cloud Market are conducted across regions, end-user industries, and material types. The study includes a thorough examination of segments and their sub-segments with the aid of tabular and graphic depictions. The segmentation can help investors and market participants create plans based on the report’s list of the segments with the highest revenue growth rates.
By Component Type Analysis,
The market has been divided into platforms and services based on components. Some of the cloud platforms made available by market players include Salesforce Commerce Cloud, SAP Commerce Cloud (previously known as SAP Hybris), and IBM’s multichannel commerce software-as-a-service. Through various channels, including mobile, web, and social media sites, businesses use these platforms to provide customers with a comprehensive shopping experience. Because of the simplicity and scalability of access to information, there is a rising market demand for cloud-based solutions.
By Application Analysis,
The market has been divided into sections for groceries and pharmaceuticals, fashion and apparel, travel and hospitality, electronics, furniture and books, and others based on application. Restaurant services and cosmetics are included in the other segment. The travel and hospitality segment is anticipated to experience the highest CAGR of these, while the fashion and apparel segment is anticipated to hold a significant market share.
By Enterprise Type Analysis,
Small and mid-sized (SMEs) and large enterprises are the two categories into which the market has been divided based on enterprise size. Large businesses are probably responsible for a sizable portion of the market as they continue to invest in sophisticated enterprise IT systems. During the forecast period, the small- and mid-sized segment is anticipated to have the highest CAGR. According to Salesforce’s Small & Medium Business Trends Report 2017, small and midsized businesses are probably going to increase their technology spending on things like financial software, security systems, and customer relationship management systems.
By Key Industry Analysis,
The market’s leading companies, including SAP SE, IBM Corporation, and Oracle Corporation, are launching new products as a result of significant investments in cutting-edge technologies. On the other hand, competitors like Magento Commerce and BigCommerce continue to form strategic alliances with other players in order to improve their market positions and generate significant brand awareness.
The North American, European, Asian-Pacific, Middle Eastern, African, and Latin American regions make up the five major geographic divisions of the global commerce cloud market. Country-level divisions are made within the regions. While Asia-Pacific is anticipated to experience rapid growth, North America is predicted to take the lead in this market share.
The study report provides a thorough analysis of the “Commerce Cloud Market” size globally, including regional and country-level market size analysis, CAGR estimation of market growth during the forecast period, revenue, key drivers, competitive background, and sales analysis of the payers. The paper also discusses the principal risks and challenges that will be encountered over the projected period. The market for Commerce Cloud Market is divided into two categories: type and application. Players, stakeholders, and other participants in the global Commerce Cloud Market industry will be able to gain the upper hand by using the study as a valuable resource.
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