Westford, USA, Nov. 27, 2024 (GLOBE NEWSWIRE) — SkyQuest projects that the Global Commerce Cloud Market will reach a value of USD 143.68 Billion by 2031, with a CAGR of 20.8% during the forecast period (2024-2031). Commerce cloud market is experiencing massive growth due to the various factors like shift towards e-commerce, increased by COVID-19 pandemic, has encouraged businesses of every size adopt cloud-based commerce solution. This can improve scalability, flexibility, and customer engagement. The necessity for personalized customer experience, omnichannel retail strategies, and smooth implementation in various platforms have boosted the demand for innovative commerce cloud platforms. Furthermore, the increasing usage of mobile commerce and the rising preference for subscription business models are augmenting the advancement of the market.
Substantial opportunities are increasing in the market, especially in artificial intelligence and machine learning technologies, boosting the demand of the market. These advanced technologies allow business for analyzing massive customer data, improve pricing strategies, and deliver extremely personalized shopping experiences. Furthermore, the emergence of digital payments and the increasing demand for B2B e-commerce solutions also provide significant opportunities for market growth. Organizations that use AI-based analytics and provide B2B solutions can also positively influencing the gro0wth of commerce cloud market.
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Browse in-depth TOC on the “Commerce Cloud Market”
- Pages – 197
- Tables – 96
- Figures – 76
Commerce Cloud Market Overview:
| Report Coverage | Details |
| Market Revenue in 2023 | $ 31.68 billion |
| Estimated Value by 2031 | $ 143.68 Billion |
| Growth Rate | Poised to grow at a CAGR of 20.8% |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Offering, Enterprise Size and Vertical |
| Geographies Covered | North America, Europe, Asia-Pacific, and the Rest of the world |
| Report Highlights | Emergence of 5G network for better speed |
| Key Market Opportunities | Adoption of advanced technologies like blockchain and AI |
| Key Market Drivers | Growth of e-commerce sector |
Increasing Adoption of Blockchain to Improve Reliability of Commerce Operations
The growing usage of blockchain in the commerce cloud makes sure about security, transparent, and effective transactions, which is providing a favourable market for commerce cloud. Furthermore, by allowing a decentralized ledger system, blockchain improves the reliability of commerce operations, particularly in cross-border transactions. Furthermore, the incorporation of internet of things is providing better interactive and informed shopping experience to customers. IoT in the commerce cloud allows real-time decision-making and faster page loads along with a streamlined customer experience. The usage of 5G network is also allowing faster and dependable connections, minimizing friction in online shopping. These factors are propelling the growth of commerce cloud market.
Growing Disposable Income to Increase Economic Growth to Enable Seamless incorporation of Commerce Cloud
Growth in disposable income of people in various regions and increasing online spending of consumers are boosting the growth of the market. The commerce cloud allows businesses to seamlessly extend into international markets. It assists in managing different currencies, tax regulations, shipping logistics, and streamlines cross-border trading. Furthermore, strategic partnerships and collaborations among technology providers, retailers, and stakeholders are also contributing to the expansion of commerce cloud market. Government facilities in many countries are also taking initiatives for promoting digitalization, along with implementing rules that guarantees fair and secure online trading, improving market growth.
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Development of SMEs to Improve Customer Experience to Boost Market Growth in North America
The region of North America is witnessing the highest market growth owing to the increasing adoption of public cloud services and the presence of many prominent companies. Furthermore, the development of SMEs is another important reason that is significantly increasing the growth of the market. The growth in this region is also being boosted by the adoption of digital transformation strategies and innovative cloud technologies in businesses. The rapid transformation towards e-commerce and omnichannel retailing to improve customer experience and operational efficiency are also propelling the growth of the market in this region. Using technologies like AI and machine learning for personalized customer experiences and expanding into emerging sectors like IoT and blockchain to drive innovation in commerce solutions.
Commerce Cloud Market Insights
Drivers
- Growing demand for personalized experience
- Rising significance of headless commerce architecture
- Increasing adoption of AI and blockchain to improve personalized customer experience
Restraints
- Lack of proper cyber laws related to cloud
- Increasing concern related to privacy and security
- Doubts among consumers in using cloud solutions
Key Players Operating in Commerce Cloud Market
The following are the Top Commerce Cloud Companies
- Salesforce Commerce Cloud
- Adobe Commerce Cloud (Magento)
- BigCommerce
- commercetools
- Oracle Commerce
- Kibo Commerce
- Elastic Path
- Sitecore Experience Commerce
- Digital River
- Optimizely
- HCL Technologies
Key Questions Answered in the Commerce Cloud Market Report
- Which is the dominating segment in the market?
- What factors are driving the adoption of commerce cloud among SMEs?
- Which is the fastest growing region in the commerce cloud market report?
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This report provides the following insights:
- Analysis of key drivers (Increasing use of smartphones and growth of e-commerce sector), restraints (Lack of cyber laws and increasing concern related to privacy and security), opportunities (Emergence of 5G wireless network and increasing adoption of blockchain), and challenges (Doubts among consumers in using cloud solutions) influencing the growth of commerce cloud market
- Market Penetration: Comprehensive information on the product offered by the top players in the commerce cloud market
- Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the commerce cloud market
- Market Development: Comprehensive information on emerging regions
- Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the market
- Competitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players.
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We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization have expanded our reach across North America, Europe, ASEAN and Asia Pacific.
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