What Is The Current and Historic Market Size Analysis Of The Commerce Cloud Market?
The commerce cloud market has seen considerable growth due to a variety of factors.
• In recent times, there has been rapid growth in the commerce cloud market size. It is projected to escalate from $25.75 billion in 2024 to $30.43 billion in 2025, registering a compound annual growth rate (CAGR) of 18.2%.
Factors such as the rising acceptance of e-commerce, the burgeoning need for cloud-based solutions, the expanding use of social media for marketing purposes, the increasing demand for individualized customer experiences, and the amplified usage of big data analytics have contributed to this growth during the historic period.
What are the Market Size and Expected Growth Rates for the Commerce Cloud Market?
The commerce cloud market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of commerce cloud is set to experience significant expansion in the upcoming years, with expectations to reach a value of $60.13 billion by 2029, advancing at a compound annual growth rate (CAGR) of 18.6%.
Factors contributing to this projected growth span into the increased usage of artificial intelligence and machine learning, heightened demand for augmented and virtual reality in the e-commerce sector, rising use of secure transaction methods through blockchain technology, a growing preference for subscription-based models, as well as rising attention towards eco-friendly commerce. Key trends to watch out for during this forecast period include the rising emergence of headless commerce, increased demand for microservices architecture, rising use of progressive web applications, the appearance of unified commerce platforms and a heightened demand for hyper-personalization.
Which Key Drivers Are Propelling The Commerce Cloud Market's Growth?
The expected surge in e-commerce industries' development is predicted to fuel the expansion of the commerce cloud market in the future. E-commerce is an economic sector that involves purchasing and trading products and services online. The growth in these industries is primarily driven by an increasing need for convenience, availability, and efficacy in shopping, which greatly facilitates the growth of commerce cloud solutions. As more companies adopt online sales to meet customer needs, there is a corresponding requirement for reliable digital infrastructure to support these efficiently. For example, as reported by the United States Census Bureau, a US government body, in November 2023, e-commerce rose by 7.5% (or 1.4%) in Q2 2023 compared to Q2 2022, while total retail sales increased by 0.6% (or 0.4%). Online shops made 15.4% of all sales in Q2 2023. Consequently, the growing development of e-commerce industries globally is fueling the expansion of the commerce cloud market.
What Are The Key Segments Within The Global Commerce Cloud Market?
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
Subsegments:
1) By Commerce Cloud Platforms: B2B Commerce Platforms, B2C Commerce Platforms, marketplace Solutions, Headless Commerce Solutions
2) By Commerce Cloud Services: Implementation Services, Integration Services, Hosting And Infrastructure Services, Analytics And Reporting Services
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How Are New Trends Impacting The Size Of The Commerce Cloud Market?
Leading corporations involved in the commerce cloud market are pioneering new technologies such as Einstein GPT to bolster market demand. Einstein GPT employs a model network sourced from prominent generative AI providers in the field and from Salesforce's own AI research. For example, Salesforce Inc., an American software company, released Einstein GPT, a new AI tool designed to assist clients in automating and personalizing suggestions in Commerce Cloud in March 2023. The tool is versatile enough for training, gaining insights, and data analysis, and can be assimilated with various Salesforce applications. It is adaptable for use across multiple Salesforce clouds, such as the marketing cloud, sales cloud and commerce cloud. Moreover, it smoothly syncs with Salesforce CRM, merging powerful features with sophisticated AI capacities.
Who Are the Key Players In The Commerce Cloud Market?
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.
What Are The Regional Insights Into The Commerce Cloud Market?
North America was the largest region in the commerce cloud market in 2024. 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.
