The focus of the commerce cloud service is on the experiences and services provided to customers. It enables businesses to offer their clients the finest services and interactions, whether online or in-person. In order to improve the client experience, it incorporates consumer data. It seeks to give businesses the most excellent, satisfying, and interesting customer experience possible. The platform for customer success includes it as a crucial component. Using commerce cloud digital, businesses increase the size of target market and promote the online store on social media. It helps retailers in improving their business operations, enhance their marketing decisions, and provide better overall consumer experiences. Furthermore, there are several areas of the retail business that are useful for commerce cloud solutions. In addition, the commerce cloud be used to provide a comprehensive view of the business and evaluate the efficiency of business processes. Commerce cloud allows businesses to optimize the process of fulfilling and delivering orders from customers around the world, automate online payments, and manage refunds and cancellations. In addition, commerce cloud solutions significantly enhance marketing strategies. By identifying the ideal customer based on information obtained about the location, age, interests, buying patterns, and other important criteria of current and previous customers.
Businesses in retail industries are increasingly adopting commerce cloud solutions, as there is a surge in data generation of customers in online shopping platforms and other retail activities, which further creates lucrative opportunities for the global market. The increasing volume and variety of different data have the potential to create several benefits for retail businesses and consumers. In addition, the surge in digital transformation and the growing trend of e-commerce platforms is likely to expand the adoption of commerce cloud solutions and services among organizations. Retailers are utilizing cloud-based technologies to enhance consumer interactions, personalize suggestions, and boost digital conversion rates. Additionally, customers now have more access to commerce cloud because of ongoing technological breakthroughs in areas like big data analytics, cloud computing, machine learning, and artificial intelligence (AI). Such enhanced factors are expected to provide lucrative opportunities for market growth during the forecast period.
Meanwhile, numerous public and private enterprises are adopting several strategies such as collaboration, partnership, and product launch to expand their product portfolio in commerce cloud solutions, which is anticipated to accelerate the market demand and hence, drive global market growth. However, data security and privacy concerns can deter the adoption of market in businesses. Furthermore, increasing application of advanced technologies such as blockchain and AI is expected to provide numerous opportunities for the growth of the global market. In addition, the surge in integration of 5G technology in businesses is expected to offer remunerative opportunities for the expansion of the global market during the forecast period.
The commerce cloud market is segmented into component, type, enterprise size, application, and region. On the basis of component, it is bifurcated into platform and service. By type, it is divided into public, private and hybrid. By enterprise size, the market is classified into large enterprises and small and medium-sized enterprises. By application, the market is segregated into fashion & apparel, electronics & appliances, food & beverages, pharmaceutical & grocery and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The market players operating in the commerce cloud market are IBM Corporation, Salesforce.com, Inc., SAP SE, Oracle Corporation, BigCommerce Pty. Ltd., Amazon Web Services, Inc., Apttus Corporation, Shopify Inc., Magento and Sitecore. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships, which help to drive the growth of the commerce cloud market globally.
Businesses in retail industries are increasingly adopting commerce cloud solutions, as there is a surge in data generation of customers in online shopping platforms and other retail activities, which further creates lucrative opportunities for the global market. The increasing volume and variety of different data have the potential to create several benefits for retail businesses and consumers. In addition, the surge in digital transformation and the growing trend of e-commerce platforms is likely to expand the adoption of commerce cloud solutions and services among organizations. Retailers are utilizing cloud-based technologies to enhance consumer interactions, personalize suggestions, and boost digital conversion rates. Additionally, customers now have more access to commerce cloud because of ongoing technological breakthroughs in areas like big data analytics, cloud computing, machine learning, and artificial intelligence (AI). Such enhanced factors are expected to provide lucrative opportunities for market growth during the forecast period.
Meanwhile, numerous public and private enterprises are adopting several strategies such as collaboration, partnership, and product launch to expand their product portfolio in commerce cloud solutions, which is anticipated to accelerate the market demand and hence, drive global market growth. However, data security and privacy concerns can deter the adoption of market in businesses. Furthermore, increasing application of advanced technologies such as blockchain and AI is expected to provide numerous opportunities for the growth of the global market. In addition, the surge in integration of 5G technology in businesses is expected to offer remunerative opportunities for the expansion of the global market during the forecast period.
The commerce cloud market is segmented into component, type, enterprise size, application, and region. On the basis of component, it is bifurcated into platform and service. By type, it is divided into public, private and hybrid. By enterprise size, the market is classified into large enterprises and small and medium-sized enterprises. By application, the market is segregated into fashion & apparel, electronics & appliances, food & beverages, pharmaceutical & grocery and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The market players operating in the commerce cloud market are IBM Corporation, Salesforce.com, Inc., SAP SE, Oracle Corporation, BigCommerce Pty. Ltd., Amazon Web Services, Inc., Apttus Corporation, Shopify Inc., Magento and Sitecore. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships, which help to drive the growth of the commerce cloud market globally.
Key Benefits For Stakeholders
- The study provides an in-depth analysis of the commerce cloud market forecast along with the current and future trends to explain the imminent investment pockets.
- Information about key drivers, restraints, and opportunities and their impact analysis on commerce cloud market trends is provided in the report.
- The Porter’s five forces analysis illustrates the potency of the buyers and suppliers operating in the industry.
- The quantitative analysis of the commerce cloud market from 2022 to 2032 is provided to determine the market potential.
Additional benefits you will get with this purchase are:
- Quarterly Update and* (only available with a corporate license, on listed price)
- 5 additional Company Profile of client Choice pre- or Post-purchase, as a free update.
- Free Upcoming Version on the Purchase of Five and Enterprise User License.
- 16 analyst hours of support* (post-purchase, if you find additional data requirements upon review of the report, you may receive support amounting to 16 analyst hours to solve questions, and post-sale queries)
- 15% Free Customization* (in case the scope or segment of the report does not match your requirements, 15% is equivalent to 3 working days of free work, applicable once)
- Free data Pack on the Five and Enterprise User License. (Excel version of the report)
- Free Updated report if the report is 6-12 months old or older.
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- Free Industry updates and white papers.
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- Investment Opportunities
- Technology Trend Analysis
- Regulatory Guidelines
- Strategic Recommedations
- Expanded list for Company Profiles
- SWOT Analysis
Key Market Segments
By Type
- Public Cloud
- Private Cloud
- Hybrid Cloud
By Application
- Fashion and Apparel
- Electronics and Appliances
- Food and Beverages
- Pharmaceutical and Grocery
- Others
By Component
- Platform
- Service
By Enterprise Size
- Large Enterprises
- Small and Medium-sized Enterprises
By Region
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
- Key Market Players
- Magento Inc (Adobe)
- Digital Rivier
- IBM Corporation
- Salesforce.com, Inc.
- SAP SE
- Oracle Corporation
- Amazon Web Services, Inc.
- BigCommerce Pty. Ltd.
- Sitecore
- Shopify Inc.,
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: COMMERCE CLOUD MARKET, BY COMPONENT
CHAPTER 5: COMMERCE CLOUD MARKET, BY TYPE
CHAPTER 6: COMMERCE CLOUD MARKET, BY ENTERPRISE SIZE
CHAPTER 7: COMMERCE CLOUD MARKET, BY APPLICATION
CHAPTER 8: COMMERCE CLOUD MARKET, BY REGION
CHAPTER 9: COMPETITIVE LANDSCAPE
CHAPTER 10: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to the report, the commerce cloud market was valued at $19.2 billion in 2022, and is estimated to reach $138.2 billion by 2032, growing at a CAGR of 22.2% from 2023 to 2032.The Commerce Cloud Market is likely to experience a significant growth rate of 22.2% from 2023-2032, owing to the rise in market demand for commerce cloud solutions in large enterprises
Commerce cloud provides a spectrum of capabilities that enable brands to connect with end users at every phase of the customer journey. In addition, commerce cloud measures customer satisfaction, identifies purchasing patterns, predicts demand, and optimizes store layouts. Moreover, cloud-based solutions and services have been increasingly employed in the retail industry, with rise in user data on physical as well as online platforms.
Furthermore, businesses in retail industries are increasingly adopting commerce cloud solutions, as there is a surge in data generation of customers in online shopping platforms and other retail activities, which further creates lucrative opportunities for the global market. The increasing volume and variety of different data have the potential to create several benefits for retail businesses and consumers. Moreover, the surge in digital transformation and the growing trend of e-commerce platforms is likely to expand the adoption of commerce cloud solutions and services among organizations. Retailers are utilizing cloud-based technologies to enhance consumer interactions, personalize suggestions, and boost digital conversion rates. Additionally, customers now have more access to commerce cloud because of ongoing technological breakthroughs in areas like big data analytics, cloud computing, machine learning, and artificial intelligence (AI). Such enhanced factors are expected to provide lucrative opportunities for market growth during the forecast period. Meanwhile, numerous public and private enterprises are adopting several strategies such as collaboration, partnership, and product launch to expand their product portfolio in commerce cloud solutions, which is anticipated to accelerate the market demand and hence, drive global market growth.
Moreover, the growing proliferation of smartphones and the increase in the growth of e-commerce industries in several countries positively impact the growth of the market in the future. In addition, the growing adoption of cloud computing solutions is expected to boost market growth. However, a lack of technical expertise is expected to hamper market growth. In addition, data security and privacy concerns can deter the adoption of market in businesses. Furthermore, increasing application of advanced technologies such as blockchain and AI is expected to provide numerous opportunities for the growth of the global market. Moreover, the surge in integration of 5G technology in businesses is expected to offer remunerative opportunities for the expansion of the global market during the forecast period.
The commerce cloud market is segmented into component, type, enterprise size, application, and region. On the basis of component, it is bifurcated into platform and service. By type, it is divided into public, private and hybrid. By enterprise size, the market is classified into large enterprises and small and medium-sized enterprises. By application, the market is segregated into fashion & apparel, electronics & appliances, food & beverages, pharmaceutical & grocery and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The market players operating in the commerce cloud market are IBM Corporation, Salesforce.com, Inc., SAP SE, Oracle Corporation, BigCommerce Pty. Ltd., Amazon Web Services, Inc., Apttus Corporation, Shopify Inc., Magento and Sitecore. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships, which help to drive the growth of the commerce cloud market globally. For instance, in June 2023, Salesforce unveiled its new Payments Partner Network - a marketplace powered by Commerce Cloud. The Payments Partner Network features third-party partners that are integrated with the J.P. Morgan Payments platform, making it easy for clients to discover, search, and learn more about relevant J.P. Morgan partner product solutions, unlocking opportunities for growth and efficiency.
Key Market Insights
By component, the platform segment was the highest revenue contributor to the market in 2022, and is estimated to reach $85.73 billion by 2032, with a CAGR of 21.0%. However, the service segment is estimated to be the fastest-growing segment with a CAGR of 24.5% during the forecast period.By type, the public segment dominated the global market share in 2022, and is estimated to reach $65.90 billion by 2032, with a CAGR of 20.2%, However, the private segment is expected to be the fastest growing segment with a CAGR of 25.2% during the forecast period.
By enterprise size, the large enterprises segment was the highest revenue contributor to the market in 2022, and is estimated to reach $79.91 billion by 2032, with a CAGR of 20.8%. However, the small and medium-sized enterprises segment is estimated to be the fastest-growing segment with a CAGR of 24.3% during the forecast period.
By application, the fashion and apparel segment was the highest revenue contributor to the market in 2022, and is estimated to reach $39.30 billion by 2032, with a CAGR of 19.2%. However, the pharmaceutical and grocery segment are estimated to be the fastest-growing segment with a CAGR of 27.1% during the forecast period.
Region wise, North America was the highest revenue contributor, accounting for $7.01 billion in 2022 and is estimated to reach $41.90 billion by 2032, with a CAGR of 19.9%.
Companies Mentioned
- Magento Inc (Adobe)
- Digital Rivier
- IBM Corporation
- Salesforce.com, Inc.
- SAP SE
- Oracle Corporation
- Amazon Web Services, Inc.
- BigCommerce Pty. Ltd.
- Sitecore
- Shopify Inc.,
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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