Global Commerce Cloud Market Overview:
Commerce Cloud is the world's leading B2C and B2B commerce solution. Commerce Cloud is a multi-occupant, cloud-based business platform that enables brands to make insightful, collective purchasing experiencing over all channels smartphones social, web, and store. Commerce Cloud enables brands to dispatch sooner, become quicker, and achieve more clients. Utilizing the intensity of the cloud, the innovation helps businesses create innovative customer experiences that drive transformations and motivate brand loyalty amongst customers. With cutting-edge digital technology imbued into the very texture of the platform, it empowers businesses to have 1-to-1 personalization without the requirement for data scientists. This has led to significant growth of the global commerce cloud market in the forecast period. According to AMA, the Global Commerce Cloud market is expected to see growth rate of 25.14% and may see market size of USD27.23 Billion by 2026.
Growth Drivers
- Rising Focus of Organizations Toward Optimizing Customer Experience
- Growing Need to Optimize Operational Efficiencies
Market Trends
- Individuals Incline Toward Purchasing their Staple Goods from the Solace of Their Homes
Roadblocks
- Skepticism in Using Cloud-Based Solutions
Opportunities
- Growing Instances of Businesses Moving Online
- Increasing Need to Manage Multiple Storefronts
Challenges
- Difficulty in Choosing the Right Solution
Competitive Landscape:
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies.
Some of the key players profiled in the report are IBM (United States), SAP (Germany), Salesforce (United States), Apttus (United States), Episerver (United States), Oracle (United States), Magento (United States), Shopify (Canada), BigCommerce (United States), Digital River (United States) and Elastic Path (Canada). Additionally, following companies can also be profiled that are part of our coverage like VTEX (Brazil), commercetools (Germany), Kibo (United States) and Sitecore (India). Considering Market by Organization Size, the sub-segment i.e. Small and Medium-Sized Enterprises (SMEs) will boost the Commerce Cloud market. Considering Market by Component, the sub-segment i.e. Platform {B2B, B2C} will boost the Commerce Cloud market.
Latest Market Insights:
Recently, IBM has announced a strategic partnership with Salesforce, a global Customer Relation Management (CRM) leader. The partnership integrates IBM Cloud and Watson services with Salesforce Quip and Salesforce Service Cloud Einstein; this enables them to connect with customers and collaborate effectively with deeper insights.
What Can be Explored with the Commerce Cloud Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Commerce Cloud Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Commerce Cloud
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Commerce Cloud market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Commerce Cloud market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Commerce Cloud Providers, Research Organizations and Consulting Companies, Potential Technology Investors, Regulatory & Government Bodies, Downstream Vendors, End Users and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.