Market Research Future (MRFR) has published a cooked research report on the “Commerce Cloud Market” that contains information from 2018 to 2032. The Commerce Cloud Market is estimated to register a CAGR of 21.30% during the forecast period of 2023 to 2032.
MRFR recognizes the following companies as the key players in the global Commerce Cloud Market — 2Checkout, Apttus Corporation, BigCommerce Pty. Ltd, commerce tools GmbH, IBM Corporation, Kibo Commerce, Adobe Incorporated (Magento), Oracle Corporation, Salesforce, SAP SE, Shopify, Infosys (SKAVA), and VTEX.
The global Commerce Cloud Market is accounted to register a CAGR of 21.30% during the forecast period and is estimated to reach USD 63.67 billion by 2032.
The term "Commerce Cloud Market" is commonly associated with Salesforce Commerce Cloud, an enterprise-level cloud-based e-commerce platform. Salesforce Commerce Cloud provides businesses with tools and features to create and manage online stores, handle customer interactions, manage product catalogs, process orders, and more. It's designed to offer a seamless and personalized shopping experience for customers across different digital channels.
The global Commerce Cloud Market has been segmented based Component, Service, and Installation Platform.
Based on Component, the global Commerce Cloud market segmentation includes B2B Commerce Cloud and B2C Commerce Cloud. The B2B commerce cloud segment dominated the market, and B2B e-commerce has been accelerating in recent years. The transformation is occurring as businesses replace inefficient and expensive legacy systems with advanced systems such as electronic data interchange. Also, efficient cloud processing capabilities and cost optimization influence businesses to adopt commerce cloud solutions.
Based on service, the global Commerce Cloud market segmentation includes training and consulting, integration and deployment, support and maintenance. The market was largely controlled by the training and consulting division, which provides enterprises with services to enhance their utilization of the solution, address the unique requirements of individual organizations, and deliver tangible business outcomes. The service streamlines the learning process and eliminates the frustrating trial-and-error phase.
Based on the Installation Platform, the global Commerce Cloud market segmentation includes desktop and mobile. The desktop segment dominated the market due to the long-standing popularity and widespread use of desktop computers or laptops for online shopping and e-commerce activities. Desktop devices offer a larger screen size, enhanced user interface, and a familiar browsing experience, making them a preferred choice for many consumers when purchasing online. The larger screen size allows for better visibility and easier navigation, enabling users to browse through products, compare prices, and make informed purchase decisions.
The global Commerce Cloud Market, based on region, has been divided into North America, Europe, Asia-Pacific, and the Rest of the World. The North American Commerce Cloud market area will dominate this market, with the presence of many major players. The commerce cloud market has successfully gained a foothold in all regional business enterprises. Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Europe Commerce Cloud market accounts for the second-largest market share due to the percolation of this technology to the SMEs operating within the region boosted by an increase in e-tailing. Further, the German Commerce Cloud market held the largest market share, and the UK Commerce Cloud market was the highest-growing market in the European region.
The Asia-Pacific Commerce Cloud Market is expected to grow at the fastest CAGR from 2023 to 2032. This is due to strong economic growth in the region; Asia-Pacific businesses are increasingly looking to cloud technology to further enhance their enterprises. Moreover, China’s Commerce Cloud market held the largest market share, and the Indian Commerce Cloud market was the highest-growing market in the Asia-Pacific region.
Key Findings of the Study