Commerce Cloud Market

Analysis from GMI Research finds that the Commerce Cloud Market earned revenues of USD 13 million in 2021 and estimated to touch USD 67 million in 2029 will grow at a high double-digit CAGR of 22.6% from 2022-2029

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Major Commerce Cloud Market Drivers

The increasing adoption of commerce cloud solutions across industries to improve customer experience and optimize operational efficiency, is one of the major factors driving the market growth. As per the Right Scale’s annual State of the Cloud Report, 2019, nearly 94% of the enterprises use cloud, out of which, 91% of businesses use public cloud, and 72% use a private one. A rise in the number of internet companies is expected to pave the way for market. Increasing number of internet companies will offer enormous opportunities to the market. The ability of commerce cloud to offer a unified shopping experience and features like scalability have driven the market growth. Increasing adoption of advanced technologies like Artificial Intelligence, Blockchain, and Big Data have transformed the online business environment, increasing their implementation across various organizations to improve data collection, optimization, and advertisement, which will bolster the market growth. However, the growing privacy and security concerns, such as Data Security and Network Security will hamper the Commerce Cloud Market size over the upcoming years. .

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Application Segment Analysis

Fashion and apparel segment is projected to hold a higher share over the upcoming years, because these solutions help brands to provide unique content, and recommendations based on buying patterns, browsing history. Thus, helping the brands to increase their digital involvement and offering a unified the customer experience across all touchpoints, which is likely to drive the market growth. For instance, In March 2018, Salesforce.com Inc. declared that NYDJ, a denim and apparel brand is using the Salesforce commerce and marketing cloud to strengthen its direct-to-consumer online networks and seamlessly deliver a customized shopping experience to its customers.

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Regional Analysis

North America is forecast to dominate the market over the forecast period, because of the growing adoption of commerce cloud platform and solution and advancements in technologies like AI, machine learning and deep learning. The strong presence of commerce cloud platforms like Google LLC, Salesforce, IBM, SAP, Oracle, and Amazon Web Services, will offer enormous opportunities to the market. These regionally based solution vendors have increased their investments and advancements in the commerce cloud field to strengthen regional growth. In September 2019, Bloomreach introduced a B2B Search & Merchandising Connector for Salesforce Commerce Cloud on Salesforce AppExchange. The connector enables users of Salesforce Commerce Cloud to incorporate Bloomreach’s site search along with AI-driving merchandising tools in their B2B commerce environment. Asia-pacific is predicted to witness a significant growth during the forecast period owing to the strong presence of small and medium and large enterprises and increasing adoption of cloud to strengthen their customer base.

Top Market Players

Various notable players in the Commerce Cloud market include Oracle Corporation, IBM Corporation, Salesforce Inc., SAP SE, Episerver AB, Magento, Shopify, Inc., BigCommerce pty. Ltd., Digital River, Inc., Apttus Corporation and among others. Major players are focussing on product launch, acquisition, collaboration to expand their global reach and become a market competitive.

Key Developments

• • In 2020 – SAP launched SAP S/4 HANA Cloud and SAP Commerce Cloud in India. The prime application od cloud hosted locally has helped the Indian enterprises to meet end-to-end customer demands and make commerce a seamless experience for retailers, while certifying compliance with current and upcoming personal data protection bills.
  • In 2019 – Salesforce entered into a partnership with Chinese e-commerce firm Alibaba to help Salesforce expand customers in Mainland China, Hong Kong, Macau, and Taiwan, while Salesforce will become the exclusive enterprise customer relationship management (CRM) product suite sold by Alibaba. The products that Salesforce plans to sell in China include Sales Cloud, Service Cloud, Commerce Cloud, and Salesforce Platform.

Segments covered in the Report:

The Global Commerce Cloud market has been segmented on the basis of Component, Organization Size, application and Geography. Based on the component market is categorized into Platform and Services. Based on the organization size market is segmented into Small and Medium-sized Enterprises and Large Enterprises. Based on the application market is categorized Electronics, Furniture, and Bookstores, Grocery and Pharmaceutical, Automotive, Fashion and Apparel, Quick Service Restaurants, Travel and Hospitality and Beauty and Cosmetics and by geography.

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Market Segmentation

Global Commerce Cloud Market by Component

• • Platform
  • Services

Global Commerce Cloud Market by Organization Size

• • Small and Medium-sized Enterprises
  • Large Enterprises

Global Commerce Cloud Market by Application

• • Electronics
  • Furniture, and Bookstores
  • Grocery and Pharmaceutical
  • Automotive
  • Fashion and Apparel
  • Quick Service Restaurants
  • Travel and Hospitality
  • Beauty and Cosmetics

Global Commerce Cloud Market by Region

• • North America Global Commerce Cloud Market (Option 1: As a part of the free 25% customization)
    • By Component
    • By Organization Size
    • By Application
    • US Market All-Up
    • Canada Market All-Up
  • Europe Global Commerce Cloud Market (Option 2: As a part of the free 25% customization)
    • By Component
    • By Organization Size
    • By Application
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up
  • Asia-Pacific Global Commerce Cloud Market (Option 3: As a part of the free 25% customization)
    • By Component
    • By Organization Size
    • By Application
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up
  • RoW Global Commerce Cloud Market (Option 4: As a part of the free 25% customization)
    • By Component
    • By Organization Size
    • By Application
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Leading Market Players

• • Oracle Corporation
  • IBM Corporation
  • Salesforce Inc.
  • SAP SE
  • Episerver AB
  • Magento
  • Shopify, Inc.
  • BigCommerce pty. Ltd.
  • Digital River, Inc.
  • Apttus Corporation