Commerce Cloud Market was valued at USD 10,730 Million in 2020 and is expected to grow at a CAGR of over 24% during the forecast period. The continuous advancement in technology, increasing adoption of commerce cloud by SMEs and Large enterprises are contributing to propelling the commerce cloud market size.
Introduction of the Commerce Cloud Market
Commerce Cloud is known as cloud-based software used as a service e-commerce platform. It is also a cloud-based service B2B and B2C commerce solution that authorizes the enterprise to develop a creative and consolidated purchasing experience. It helps the enterprise to unite the way companies enlist with customers across all devices or channels. The commerce cloud aims to enable customers and brands to give accurate services and experiences.
Key Players of the Market
Commerce Cloud Market Dynamics
The significant factor propelling the commerce cloud market share is the organization’s inclination towards enhancing customer experience and the requirement to optimize operational efficiency. Furthermore, the increasing need to maintain the various storefronts and the paradigm shift of businesses towards online is responsible for fueling the commerce cloud during the forecast period. Commerce Cloud also gives a unified purchasing experience and features like extensibility are further bolstering the growth of the global commerce cloud market. However, the factor that restrains commerce cloud market size is skepticism in Using Cloud-Based Solutions.
Commerce Cloud Market Segmentation
North America maintains its dominance in the market in terms of revenue. It envisages growing at a significant pace as per commerce cloud market forecast owing to the deployment of new technologies like AI, deep learning, and machine learning and high implementation of commerce cloud platforms and solutions among enterprises to be a part of the competition in the commerce cloud market. In addition, North America has created an economy that allows the vendor to invest in modern technologies. Asia-pacific is growing in the market due to the availability of small & medium and large enterprises in the region. These enterprises are rapidly implementing commerce cloud to expand and build an active customer base. The countries like India, China, Japan, and Australia created numerous opportunities for commerce cloud solutions.
Global Commerce Cloud Market Segmentation
Segmentation by Component
Segmentation by Organization Size
Segmentation by Application
Segmentation by Region
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