The commerce cloud global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Commerce Cloud Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The commerce cloud market size has grown rapidly in recent years. It will grow from $21.78 billion in 2023 to $25.75 billion in 2024 at a compound annual growth rate (CAGR) of 18.2%. The growth in the historic period can be attributed to increasing adoption of e-commerce, growing demand for cloud-based solutions, increasing use of social media for marketing, growing demand for personalized customer experiences, and increasing use of big data analytics.
The commerce cloud market size is expected to see rapid growth in the next few years. It will grow to $50.67 billion in 2028 at a compound annual growth rate (CAGR) of 18.4%. The growth in the forecast period can be attributed to increasing adoption of artificial intelligence and machine learning, growing demand for augmented reality and virtual reality in e-commerce, increasing use of blockchain technology for secure transactions, growing demand for subscription-based models, and growing demand for green commerce. Major trends in the forecast period include emergence of headless commerce, growing demand for microservices architecture, increasing use of progressive web apps, emergence of unified commerce platforms, and growing demand for hyper-personalization.
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Scope Of Commerce Cloud Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Commerce Cloud Market Overview
Market Drivers –
The increase in the growth of e-commerce industries is expected to propel the growth of the commerce cloud market going forward. The e-commerce industry is the economic sector that involves buying and selling goods and services over the internet. The growth of e-commerce industries is propelled by the increasing demand for convenience, accessibility, and efficiency in shopping, which significantly contributes to the expansion of commerce cloud solutions. As more businesses embrace online selling to cater to consumer demands, a parallel need arises for robust digital infrastructure to support these operations efficiently. For instance, in November 2023, according to the United States Census Bureau, a US-based government agency, compared to the second quarter of 2022, the estimate for e-commerce in the second quarter of 2023 climbed by 7.5% (or 1.4%), while overall retail sales rose by 0.6% (or 0.4%). 15.4% of all sales in the second quarter of 2023 were made through online stores. Therefore, the increase in the growth of e-commerce industries in several countries is driving the growth of the commerce cloud market.
Market Trends –
Major companies operating in the commerce cloud market are developing innovative technologies, such as Einstein GPT, to increase demand in the market. Einstein GPT uses a network of models from leading generative AI providers in the industry and from Salesforce’s AI research. For instance, in March 2023, Salesforce Inc., a US-based software company, launched Einstein GPT, a new AI tool designed to help customers automate and tailor recommendations in Commerce Cloud. It can be used for training, insights, and data analysis and can be integrated with different Salesforce apps. It can be used across multiple Salesforce clouds, including marketing cloud, sales cloud, and commerce cloud, and it seamlessly integrates with Salesforce CRM, combining powerful features with advanced AI capabilities.
The aerospace support and auxiliary equipment market covered in this report is segmented –
1) By Type: Commercial Radars, Satellites
2) By Ownership: Public, Private
3) By Platform: Airborne, Land, Naval, Space
Subsegments Covered: Continuous Waveform, Pulse Waveform, Large Satellite, Mini Satellite, Micro Satellite, Nano Satellite
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Regional Insights –
North America was the largest region in the commerce cloud market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the commerce cloud market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Major companies operating in the commerce cloud market are Google LLC, Alibaba Group Holding Limited, Amazon Web Services, IBM Coporation , Oracle Corporation, SAP SE, Salesforce.com Inc., Adobe, HCL Technologies, Shopify Inc., Magento (Adobe) Inc., Episerver, Sitecore, Digital River Inc., BigCommerce Pty Ltd., Optimizely Inc., VTEX, Commercetools, Apttus Corporation , Kibo Commerce, Lightwell Inc, Voyado Lund AB, Elastic Path, Shopgate, Squareup eCommerce, TradeGecko.
Table of Contents
1. Executive Summary
2. Commerce Cloud Market Report Structure
3. Commerce Cloud Market Trends And Strategies
4. Commerce Cloud Market – Macro Economic Scenario
5. Commerce Cloud Market Size And Growth
…..
27. Commerce Cloud Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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