The sudden challenges created by the ongoing COVID-19 are captured effectively to exhibit the long term growth projections in the MRFR report on Global Commerce Cloud Market. The growth sectors of the Global Commerce Cloud Market are identified with precision for a better growth perspective.
Market Research Future (MRFR), in its latest “Commerce Cloud Market” report, states that the global market of commerce cloud is expected to thrive at a CAGR of 22.7% and attain a valuation of USD 25.2 Billion by 2025.
Major benefits offered by a centralized commerce platform are an analysis of customer behavior and unify inventory that is highly desirable by enterprises. This is expected to spur the global commerce cloud market growth. The growing demand for a centralized buying platform to execute B2C businesses is adding to the momentum of the market. A pragmatic shift is from retail to e-commerce is observed. This is triggering the requirement for data-driven insights and automated merchandising. With the advent of technologies, such as AI and IoT, and they are being exercised across commercial ventures is serving the growing need for making business procedures seamless. These are likely to surge the worldwide commerce cloud market. Additional causes that are anticipated to impel the commerce cloud market are rise in need to simplify installation complexities and analyze consumer data. On the contrary, the skepticism of cloud-based technology can hinder the growth of the global commerce cloud market.
The rapid proliferation of e-commerce in North America and APAC is expected to cast observed to impact the regional commerce cloud market positively. The market in Europe is expected to experience a sharp rise in its valuation due to surge in the adoption of advanced technology across different commercial ventures. Hence, overall, the commerce cloud market is likely to enjoy improved health.
The global commerce cloud market is studied by component, service, installation platform, enterprise size, and application.
By component, the market the segmented into B2B commerce cloud and B2C commerce cloud. The increase in the deployment of B2B commerce cloud is observed to gain popularity due to the growing need to understand B2B needs of clients and push purchase. Alongside, the B2C commerce cloud is also observed to be highly desirable among enterprises as they streamline checkout procedures. These factors are expected to gain considerable traction for the global commerce cloud market.
By service, the market is segmented into training and consulting, integration and deployment, and support and maintenance. The growing need for streamlining learning process is increasing the rate of adoption of training and consulting services by different enterprises. This is expected to gain traction for the global commerce cloud market. The support and maintenance segment is expected to expand at a high CAGR in the review period. The growing demand for 24×7 support for different sectors are expected to propel the growth of the global market of commerce cloud.
Elastic Path Software Inc, Digital River, Inc., commercetools GmbH, BigCommerce Pty. Ltd, Episerver, 2Checkout, Apttus Corporation, IBM Corporation, Verve Industrial Protection, Kibo Commerce, Adobe Incorporated (Magento), Oracle Corporation, Salesforce, SAP SE, Shopify, Infosys (SKAVA), Unilog Content Solutions Pvt., Ltd, and VTEX.
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