Growth opportunities in the commerce cloud market look promising over the next six years. This is mainly due to the rising need to optimize operational efficiency, the growing focus of organizations towards enhancing customer experience, and the increasing number of businesses shifting online.
Commerce Cloud Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Key Drivers
The drivers supporting the growth of the global commerce cloud market include the increasing requirement to optimize operational efficiency and the rising focus of organizations to improve customer experience. Also, the augmenting need to oversee various outlets and the growing number of businesses shifting online are some other factors anticipated to boost the commerce cloud market share over the forecast period. The Commerce Cloud unified buying experience with features like scalability, which further strengthens the market. However, doubtfulness in the usage of Cloud-Based Solutions is obstructing the market growth of commerce cloud.
Component Segment Drivers
Based on components, the market is segmented into platforms and services. The platform segment is projected to expand at a faster CAGR over the forecast period owing to the enhanced consumer experience across several channels like social media, website, offline stores, and mobile. Moreover, it allows a single shared view of inventory, products, promotions, and customer activity, thus reducing the time required to synchronize different data sources. Also, the commerce cloud platform offers an open development environment which helps the retailers in easy customizations and extended commerce.
Regional Drivers
Based on the regional coverage, North America is predicted to lead the market during the forecast period because of the acceptance of commerce cloud platform and solution across companies and ongoing innovation of new technologies like machine learning, AI, deep learning, etc in the commerce cloud market. Also, North America has initiated an economy to help the vendor invest in new technologies. On the other hand, Asia-pacific is anticipated to witness a substantial CAGR during the forecast period attributing to the small, medium, and large enterprises that are adopting commerce cloud to make a strong customer base and developing countries like India, China, Australia, Japan, etc. are bringing out numerous opportunities for commerce cloud solutions.
Commerce Cloud Market’s leading Manufacturers:
- Apttus Corporation
- BigCommerce pty. Ltd.
- Episerver AB
- Salesforce Inc.
- Oracle Corporation
- Digital River, Inc.
- Shopify, Inc.
- IBM Corporation
- SAP SE
- Magento
Commerce Cloud Market Segmentation:
Segmentation by Component:
- Platform
- Service
Segmentation by Organisation Size:
- Small and Medium- sized Enterprises
- Large Enterprises
Segmentation by Application:
- Electronics, Furniture, and Bookstores
- Grocery and Pharmaceutical
- Automotive
- Fashion and Apparel
- Quick Service Restaurants
- Travel and Hospitality
- Beauty and Cosmetics
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
About GMI Research
GMI Research is a market research and consulting company that offers business insights and market research reports for large and small & medium enterprises. Our detailed reports help the clients to make strategic business policies and achieve sustainable growth in the particular market domain. The company’s large team of seasoned analysts and industry experts with experience from different regions such as Asia-Pacific, Europe, North America, among others, provides a one-stop solution for the client. Our market research report has in-depth analysis, which includes refined forecasts, a bird’s eye view of the competitive landscape, key factors influencing the market growth, and various other market insights to aid companies in making strategic decisions. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to helping our clients to stay ahead of the curve.
Media Contact
Company Name: GMI RESEARCH
Contact Person: Sarah Nash
Email: enquiry@gmiresearch.com
Phone: Europe – +353 1 442 8820; US – +1 860 881 2270
Address: Dublin, Ireland
Website: www.gmiresearch.com
