The growing impact of e-commerce along with enhanced performance and flexibility provided by the commerce cloud solutions drive the demand for the commerce cloud market
The commerce cloud is a cloud-enabled service that includes B2B as well as B2C commerce solution which allows the organizations to create a unified and intelligent buying experience. It facilitates the organizations to combine the way businesses engage with customers throughout all devices or channels. The purpose of commerce cloud is to support brands and customers to deliver faultless service and experience. Hence it is expected that the global commerce cloud market size is projected to reach USD 48 billion by 2028.
The incorporation of commerce cloud with the social media platforms enables merchants to offer a superior shopping experience by displaying the product information through the cloud directly on the apps. Moreover, retailers are using social media analytics to scrutinize the customer segments, enhance targeted advertisements, and mitigate fraud risk.
The global commerce cloud market includes both, platform as well as service segments. The platform segment holds a significant market share in 2019. It enables improved customer experience throughout channels that include social media, websites, mobile, as well as offline stores. The commerce cloud platform facilitates a unified shared view of the inventory, customer activity, promotions, and products, that decreases the time required to synchronize the diverse data sources. Additionally, it offers capabilities that include an open development environment.
The global commerce cloud industry has strong rivalry among the new emerging and well-established players. These industry participants target to achieve a competitive benefit over the other market players by partaking in mergers, acquisitions, and partnerships and expanding their businesses.
The global commerce cloud market is a wide range to North America, Europe, APAC, South America, and the Middle East & Africa. Asia Pacific is considered the fastest growing market in the commerce cloud applications due to the existence of various evolving economies with well-advanced utility ecosystems, including India, Japan, Australia, China, and Singapore with the availability of technical expertise and advanced IT infrastructure.
The major players of the global commerce cloud market are IBM, SAP, Apttus, Episerver, Salesforce, Oracle, Magento, BigCommerce, Digital River, Shopify, Elastic Path, commercetools, Kibo, VTEX, Sitecore, and more. The commerce cloud market is fragmented with the existence of well-known global and domestic players across the globe.
Segment Overview of Global Commerce Cloud Market
Component Overview, 2018-2028 (USD Billion)
- Training & Consulting
- Integration & Deployment
- Support & Maintenance
Organization Size Overview, 2018-2028 (USD Billion)
- Large Enterprises
Vertical Overview, 2018-2028 (USD Billion)
- Beauty & Cosmetics
- Electronics, Furniture, & Bookstores
- Fashion & Apparel
- Grocery & Pharmaceutical
- Travel & Hospitality
Regional Overview, 2018-2028 (USD Billion)
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- South America
- Rest of South America