Commerce Cloud Market
Overview and Scope
Commerce Cloud, also known as salesforce commerce cloud, is a cloud-based suite of products designed to help businesses create and manage online stores. It offers various features and functionalities, catering to business-to-consumer (B2C) and business-to-business (B2B) needs.
Sizing and Forecast
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.
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Segmentation & Regional Insights
The commerce cloud market covered in this report is segmented –
1) By Type: Commerce Cloud Platforms, Commerce Cloud Services
2) By Platform : Business To Business Commerce, Business To Customer Commerce
3) By Service : Training And Consulting , Integration And Deployment , Support And Maintenance
4) By End User : Fashion And Apparel , Pharmaceutical And Grocery, Electronics And Appliances , Food And Beverage
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.
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Major Driver Impacting Market Growth
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.
Key Industry Players
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.
The commerce cloud market report table of contents includes:
1. Executive Summary
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