The Commerce Cloud Market research report 2021 provides a basic overview of the industry and information regarding market size, share, growth, cost structure, Commerce Cloud market competition landscape, challenges and opportunity, capacity, revenue, and forecast 2025. The report delivers a comprehensive overview of the crucial elements of the market and elements such as drivers, current trends of the past and present times, technological growth. This report also includes the overall and comprehensive study of the Commerce Cloud market with all its aspects influencing the growth of the market. This report is exhaustive quantitative analyses of the market and provides data for making strategies to increase market growth and effectiveness. The report covers the post-COVID-19 impact on various regions and major countries and on the future development of the industry is pointed out.
The Commerce Cloud Market is expected to register a CAGR of approximately 23% during the forecasted period (2020 – 2025).
Top Companies in the Commerce Cloud Market: Salesforce.com, Inc., Lightwell Inc. (IBM Corporation), SAP SE (Maihiro GmbH), Oracle Corporation, BigCommerce Pty. Ltd., Shopify Inc., Episerver, Amazon Web Services, Inc., Magento (Adobe, Inc.), Apttus Corporation, Google LLC, and others.
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– According to Right Scale’s annual State of the Cloud Report for 2019, approximately 94% of the enterprises are using the cloud, out of which, 91% of businesses use public cloud, and 72% use a private one, while most enterprises are opting for both the options, i.e., 69% of them opting for a hybrid cloud solution.
– In June 2020, HCL Technologies (HCL) expanded its partnership with Google Cloud to integrate HCL Commerce to Google Cloud. Google Cloud will jointly provide secure and elastic infrastructure with HCL Commerce to power businesses eCommerce strategies. Under this partnership, HCL also intends to leverage Anthos to enable multi-cloud and hybrid-cloud deployments of HCL Commerce.
– Also, an increasing focus on improving customer experience in the industry is expected to drive the market growth. Technological advancements are raising the customer’s expectations and reshaping how the customers experience different brands. Companies experience approximately 92% customer retention rate who adopt a holistic CX (Customer Experience) approach by investing in technologies that will digitally transform the business to stay ahead of customer expectations.
Some of the key developments in the market are:
– June 2020 – SAP introduced SAP S/4 HANA Cloud and SAP Commerce Cloud in India. With its core applications hosted locally, the Indian enterprises are anticipated to be able to meet end-to-end customer demands and make commerce a seamless experience for retailers, while ensuring compliance with current and upcoming personal data protection bills.
– July 2019 – Salesforce and the Chinese e-commerce firm Alibaba collaborated to help Salesforce expand to 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.
Key Market Trends
North America Expected to Dominate the Market
– Due to the presence of several market players in the region, North America is expected to dominate the Commerce Cloud Market globally, such as IBM, Salesforce, SAP, Oracle, Amazon Web Services, Google LLC, and many more. These regionally-based solution providers are making significant investments and innovations in the commerce cloud field to augment regional growth.
– In September 2019, Bloomreach launched a B2B Search & Merchandising Connector for Salesforce Commerce Cloud on Salesforce AppExchange. The connector allows users of Salesforce Commerce Cloud to integrate Bloomreach’s site search along with AI-powered merchandising tools in their B2B commerce environment.
– Several startups are also emerging in the region, to provide innovative commerce cloud solutions in the region and attract maximum market share. For instance, in November 2019, the VTEX Cloud Commerce Platform raised USD 140 million investment from SoftBanks Latin America fund in collaboration with Gvea Investimentos and Constellation Asset Management. The company plans to use the investment to support VTEXs vision of continued global expansion and innovations and advancements to its cloud commerce offerings.
What are the market factors that are explained in the report?
– Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
– Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
– Analytical Tools: The Commerce Cloud Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.
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