Commerce Cloud Market : A View of the Industry’s Advancements and Opportunities
The global commerce cloud market size was USD 12.72 Billion in 2021 and is expected to register a revenue CAGR of 23.6% during the forecast period, according to the latest analysis by Emergen Research. Market revenue growth is primarily driven by factors such as increasing widespread acceptance of cloud computing solutions across sectors. According to a study conducted in 2019, over 94% of organizations utilize cloud in some capacity, with 91% of them using public clouds and 72% using private ones.
In addition, majority of firms use both public and private clouds, with 69% choosing hybrid cloud solutions. For example, in June 2020, HCL Technologies collaborated with Google Cloud and integrated HCL Commerce with Google Cloud to support enterprises e-commerce ambitions, Google Cloud, and HCL Commerce, jointly delivering safe and elastic infrastructure. HCL plans to use Anthos to make multi-cloud and hybrid cloud deployments of HCL Commerce possible.
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Forecast Period : 2022-2030
Base Year: 2021
Number of Pages: 250
The global Commerce Cloud Market report provides a comprehensive study of the dynamic driving and restraining factors, major challenges, and lucrative opportunities. Moreover, the study covers a SWOT analysis that aids in recognizing the restraining and driving factors in the market. Furthermore, the report outlines market segmentation and growth analysis of the top 10 market players that are currently active in the industry. The drivers and opportunities help in grasping the dynamic market trends and how market players can leverage such trends.
Key Players Profiled in the Report are:
IBM, SAP, Salesforce Inc., Voyado Lund AB, Optimizely Inc., Oracle, Adobe, Shopify Inc., BigCommerce Pty Ltd, Digital River Inc., Alibaba Group Holding Limited, HCL Technologies, and others.
Some Key Highlights From the Report
- The small and medium-sized segment is expected register a significant revenue CAGR throughout the forecast period. Salesforce predicts that Small and Medium-sized Enterprises (SMEs) will increase their investments in technology, particularly in areas such as financial software, security systems, and customer relationship management programs. Cloud computing’s adaptive design allow many small and medium-sized enterprises to become economically viable. SMEs do business more rapidly and successfully as a result of being adaptable, fast, and agile. Moreover, cloud computing allows SMEs to reduce costs, both Capex and Opex, particularly with respect to IT resources, power, and energy. Furthermore, cloud computing significantly lowers cost associated with purchase and maintenance of physical hardware as infrastructure is owned, managed, and maintained by the service provider.
- The pharmaceutical e-commerce market witnessed tremendous pandemic-related growth, as seen by statistics from CVS, which showed that the business saw online prescription orders climb by 1,000% during the pandemic’s early phases. Pharmaceutical e-commerce can make it simple, effective, and transparent to buy prescription drugs in both B2B and B2C settings. This inevitably result in higher pharmaceutical vendor and manufacturer preparation to keep up with and successfully compete in this rapidly expanding market. For example, Amazon and Alibaba have disclosed large investments in their online pharmaceutical operations during the past year. Through Amazon, the platform of online retailer, patients obtain prescription medications. Alibaba Health promises to provide comparable services and other pertinent technologies for both patients and physicians. Such trends are expected to increase revenue growth of this segment.
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The report offers key insights into market share, supply chain analysis, demand and supply ratio, import/export details, and product and consumption patterns. To gain a better understanding, the report is further segmented into sections such as product types offered by the market, application spectrum, companies, and key geographical regions where the market has established its presence.
Emergen Research has segmented the global commerce cloud market based on component, organization size, application, and region:
- Component Outlook (Revenue, USD Billion; 2019-2030)
- Business to Business (B2B)
- Business to Customer (B2C)
- Integration & Deployment
- Support & Maintenance
- Organization Size Outlook (Revenue, USD Billion; 2019-2030)
- Large Enterprises
- Small & Medium Enterprises (SMEs)
- Application Outlook (Revenue, USD Billion; 2019-2030)
- Fashion & Apparel
- Electronics, Furniture & Bookstores
- Grocery & Pharmaceuticals
- Travel & Hospitality
Analysis of the segments and their growth projection is carried out by extensive historical and current analysis of the market scenario. Further, the report offers details about the factors and features of the Commerce Cloud market expected to boost the growth of the industry in the coming years.
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Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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