Commerce Cloud Market

Market Overview: 

The global commerce cloud market size reached US$ 19.3 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 89.5 Billion by 2032, exhibiting a growth rate (CAGR) of 18.62% during 2024-2032. The increasing cybersecurity threats and fraudulent cases across the globe, rising utilization of advanced technologies, and strategic partnerships and collaborations between technology providers, retailers, and other stakeholders are some of the major factors propelling the market.

Commerce cloud refers to a cloud-based service that allows businesses to manage and streamline their sales, customer service, and marketing processes in an integrated platform. It seamlessly integrates with existing business systems, tools, and third-party applications. It facilitates interactions across different channels, including web, mobile, social media, and in-store experiences. It ensures data protection and adherence to relevant legal and regulatory standards. It helps in reducing overheads related to physical infrastructure and enables focused investments. It aids in enhancing daily shopping through personalized lists, prescription management, and real-time stock visibility. Besides this, it manages online ordering, queue management, and loyalty programs.

The increasing cases of cybersecurity threats and fraudulent cases across the globe are catalyzing the demand for commerce cloud solutions. Additionally, the increasing adoption of advanced business technologies by small and medium-sized enterprises is offering a favorable market outlook. Apart from this, the rising popularity of subscription models in various industries is driving the need for commerce cloud solutions. Furthermore, with a growing emphasis on enhancing the overall customer experience, businesses are adopting commerce cloud solutions that offer tools for customer engagement, support, and loyalty programs, which is strengthening the market growth. Moreover, continuous improvements in internet infrastructure are enabling more consumers to shop online, which, in turn, is propelling the market growth.

Commerce Cloud Market Trends/Drivers:

Adoption of emerging technologies

The increasing utilization of blockchain in the commerce cloud is ensuring secure, transparent, and efficient transactions, which is offering a favorable market outlook. Additionally, by enabling a decentralized ledger system, blockchain enhances the trustworthiness of commerce operations, especially in cross-border transactions. Apart from this, the integration of the Internet of Things (IoT) is offering a more interactive and informed shopping experience to customers. IoT in the commerce cloud facilitates real-time decision-making and quicker page loads and offers a seamless customer experience. Furthermore, the deployment of 5G networks is enabling faster and more reliable connections, which help in reducing friction in online shopping.

Global economic growth and business expansion

An increase in disposable income of individuals in various regions and higher consumer spending online is offering a favorable market outlook. Additionally, the commerce cloud enables businesses to effortlessly expand into international markets. It helps in handling different currencies, tax regulations, and shipping logistics, and simplifies cross-border trading. Apart from this, strategic partnerships and collaborations between technology providers, retailers, and other stakeholders are positively influencing the market. Furthermore, governing authorities of various countries are taking initiatives to promote digitalization, combined with regulations that ensure fair and secure online trading, which is strengthening the market growth.

Strategic business models

The increasing adoption of commerce cloud solutions that support omnichannel retailing is positively influencing the market. This approach allows consumers to engage with a brand across different channels and ensures a consistent experience. Additionally, dynamic pricing enabled by the commerce cloud allows businesses to adjust prices in real time based on supply, demand, competitor prices, and other external factors. Furthermore, by offering the commerce cloud as a platform-as-a-service, providers are enabling more customizable and scalable solutions, which is supporting the market growth. Moreover, businesses using commerce cloud solutions are increasingly integrating eco-friendly practices, such as showcasing sustainable products and providing carbon-neutral shipping options to attract a wider consumer base.

Commerce Cloud Industry Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global commerce cloud market report, along with forecasts at the global, regional, and country levels for 2024-2032. Our report has categorized the market based on component, organization size and application.

Breakup by Component:

• Platform
  • B2B
  • B2C
• Service
  • Training and Consulting
  • Integration and Deployment
  • Support and Maintenance
     

Platform dominates the market

The report has provided a detailed breakup and analysis of the market based on the component. This includes platform (B2B and B2C), service (training and consulting, integration and deployment, support and maintenance). According to the report, platform represented the largest segment due to its ability to provide comprehensive and flexible solutions for businesses. It offers flexibility, scalability, and cost-effectiveness and manages multiple currencies, languages, and compliance with local laws, which enable businesses to operate internationally. Apart from this, it provides seamless adaptability to various business models and also provide robust security measures for enhanced data protection.

Training and consulting services are integral for businesses to understand and utilize commerce cloud platforms effectively. Tailored training equips employees with the skills required to navigate these systems and guide strategic implementation to align with business goals.

The integration and deployment services involve customizing and implementing commerce cloud solutions within an existing business infrastructure. They help in ensuring seamless integration with other systems and tools and minimizing disruption and enabling coherent workflow.

Continuous support and maintenance services ensure that commerce cloud platforms operate smoothly and remain up to date. They help in troubleshooting technical issues, providing updates and enhancements, and contributing to the longevity and reliability of the commerce cloud system.

Breakup by Organization Size:

• Large Enterprises
• Small and Mid-sized Enterprises
   

Large enterprises hold the largest share in the market

A detailed breakup and analysis of the market based on the organization size has also been provided in the report. This includes large enterprises and small and mid-sized enterprises. According to the report, large enterprises accounted for the largest market share. The adoption of commerce cloud in large enterprises enhances efficiency, facilitates global reach, and provides robust customer experience management across diverse markets. Large enterprises require complex and highly integrated commerce cloud solutions that can support various departments, international markets, and multifaceted supply chains.

The adaptability and ease of implementation of commerce cloud solutions are attracting small and mid-sized enterprises (SMEs), as they facilitate growth without imposing the need for extensive infrastructure or specialized in-house expertise. Additionally, the commerce cloud provides an opportunity to compete with larger businesses by accessing technology that enables professional online presence, targeted marketing, and personalized customer engagement.

Breakup by Application:

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

Fashion and apparel account for the majority of the market share

The report has provided a detailed breakup and analysis of the market based on the application. This includes electronics, furniture and bookstores, grocery and pharmaceutical, fashion and apparel, quick service restaurants, travel and hospitality, beauty and cosmetics, and others. According to the report, fashion and apparel hold the majority of the market share. In the fashion industry, the commerce cloud enables virtual fittings, integration with social trends, and personalized shopping experiences. It helps brands keep pace with fast-changing fashion trends, manage seasonal inventories, and engage with customers. This technological adoption enhances the appeal and outreach of fashion and apparel businesses.

Electronics retailers leverage the commerce cloud to facilitate easy comparisons of product specifications and provide detailed insights into features and functions. Additionally, the commerce cloud for furniture retailers offers interactive views and virtual room setups, and bookstores benefit from features like digital previews and categorization.

Implementing commerce cloud in grocery and pharmaceutical retail offers one-click reordering, prescription management, and adherence to medical regulations. With the integration of personalized shopping lists and real-time stock visibility, it eases daily shopping chores. This application transforms the traditional shopping experience, providing convenience and accuracy.

Quick service restaurants (QSRs) utilize the commerce cloud for efficient online ordering, queue management, and loyalty programs. This application allows restaurants to cater to customer preferences, offer real-time updates, and manage high volumes during peak times.

Travel and hospitality sectors utilize the commerce cloud to provide personalized booking experiences, integrating real-time availability and customer history. The centralized platform streamlines booking flights, accommodations, and customized packages.

Commerce cloud in the beauty and cosmetics industry supports virtual product trials, detailed ingredient information, and consultation with beauty experts. It offers an enriched shopping experience tailored to individual preferences and needs and helps customers make informed choices.

Breakup by Region:

• North America
  • United States
  • Canada
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Others
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

North America exhibits a clear dominance, accounting for the largest commerce cloud market share

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America accounted for the largest market share.

North America held the biggest market share since major technology companies and commerce cloud providers headquartered in North America are introducing innovation and competition in the region. Additionally, a well-established internet infrastructure in North America provides a robust foundation for online commerce. High-speed internet connectivity ensures smooth and efficient online shopping experiences, encouraging businesses and consumers to adopt commerce cloud solutions. Apart from this, the growing consumer preference for online shopping, personalized experiences, and multi-channel interactions is favoring the market growth. Moreover, regulatory support and a conducive business environment in North America foster entrepreneurship and digital transformation.

Competitive Landscape:

Companies are actively innovating and expanding their offerings to cater to the dynamic needs of businesses and consumers. They are currently investing in research and development (R&D) activities to develop advanced features, such as artificial intelligence (AI)-driven personalization and real-time analytics. Additionally, they are focusing on scalability to support businesses of varying sizes, from small start-ups to global enterprises. Apart from this, they are also continuously working on multi-lingual and multi-currency support to facilitate seamless cross-border commerce. Furthermore, some companies are offering tailored solutions that align with the specific requirements and goals of different industries. Moreover, they are integrating eco-friendly practices into their platforms to attract a wider consumer base.

The report has provided a comprehensive analysis of the competitive landscape in the market. Detailed profiles of all major companies have also been provided. Some of the key players in the market include:

• Adobe Inc.
• BigCommerce Pty. Ltd
• Kibo Commerce
• Oracle Corporation
• Salesforce.com Inc.
• SAP SE
• Shopify Inc.
• Sitecore
• VTEX
   

Commerce Cloud Market Report Scope:

Key Questions Answered in This Report:

• How has the global commerce cloud market performed so far, and how will it perform in the coming years?
• What are the drivers, restraints, and opportunities in the global commerce cloud market?
• What is the impact of each driver, restraint, and opportunity on the global commerce cloud market?
• What are the key regional markets?
• Which countries represent the most attractive commerce cloud market?
• What is the breakup of the market based on the component?
• Which is the most attractive component in the commerce cloud market?
• What is the breakup of the market based on the organization size?
• Which is the most attractive organization size in the commerce cloud market?
• What is the breakup of the market based on the application?
• Which is the most attractive application in the commerce cloud market?
• What is the competitive structure of the global commerce cloud market?
• Who are the key players/companies in the global commerce cloud market?

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the commerce cloud market from 2018-2032.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global commerce cloud market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the commerce cloud industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.