Commerce Cloud Market 2022: Analysis by Product Types & Applications; Industry Top Players, Regions & Market Overview
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Advancement in technology to help cloud computing solutions is a key factor driving market revenue growth
VANCOUVER, BC, CANADA, November 3, 2022 /EINPresswire.com/ -- The global commerce cloud market size was USD 12.72 Billion in 2021 and is expected to register a revenue CAGR of 23.6% during the forecast period, according to the latest analysis by Emergen Research. Market revenue growth is primarily driven by factors such as increasing widespread acceptance of cloud computing solutions across sectors. According to a study conducted in 2019, over 94% of organizations utilize cloud in some capacity, with 91% of them using public clouds and 72% using private ones. In addition, majority of firms use both public and private clouds, with 69% choosing hybrid cloud solutions. For example, in June 2020, HCL Technologies collaborated with Google Cloud and integrated HCL Commerce with Google Cloud to support enterprises e-commerce ambitions, Google Cloud, and HCL Commerce, jointly delivering safe and elastic infrastructure. HCL plans to use Anthos to make multi-cloud and hybrid cloud deployments of HCL Commerce possible.
The new report titled, ‘Global Commerce Cloud Market Size, Share, Price, Trends, Report and Forecast 2022-2030’, gives an in-depth analysis of the global Commerce Cloud market, assessing the market based on its segments like source, product, industry, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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Some Key Highlights from the Report
The small and medium-sized segment is expected register a significant revenue CAGR throughout the forecast period. Salesforce predicts that Small and Medium-sized Enterprises (SMEs) will increase their investments in technology, particularly in areas such as financial software, security systems, and customer relationship management programs. Cloud computing's adaptive design allow many small and medium-sized enterprises to become economically viable. SMEs do business more rapidly and successfully as a result of being adaptable, fast, and agile. Moreover, cloud computing allows SMEs to reduce costs, both Capex and Opex, particularly with respect to IT resources, power, and energy. Furthermore, cloud computing significantly lowers cost associated with purchase and maintenance of physical hardware as infrastructure is owned, managed, and maintained by the service provider.
The pharmaceutical e-commerce market witnessed tremendous pandemic-related growth, as seen by statistics from CVS, which showed that the business saw online prescription orders climb by 1,000% during the pandemic's early phases. Pharmaceutical e-commerce can make it simple, effective, and transparent to buy prescription drugs in both B2B and B2C settings. This inevitably result in higher pharmaceutical vendor and manufacturer preparation to keep up with and successfully compete in this rapidly expanding market. For example, Amazon and Alibaba have disclosed large investments in their online pharmaceutical operations during the past year. Through Amazon, the platform of online retailer, patients obtain prescription medications. Alibaba Health promises to provide comparable services and other pertinent technologies for both patients and physicians. Such trends are expected to increase revenue growth of this segment.
The North America market accounted for largest revenue share in 2021 owing to presence of several industry participants, including IBM, Salesforce, Oracle, and others. To support regional growth, these locally based solution providers are making large investments and advancements in commerce cloud space. In addition, the area is increasing number of strategic alliances and partnerships with other international companies, which will aid regional players in establishing and bolstering their worldwide presence. For example, SAP SE, connected SAP Commerce Cloud Solution travel accelerator with Onesait Hospitality suite from Minsait, a part of Indra and digital transformation consultancy. SAP will be able to help its clients in the hospitality sector, notably hotel chains, to better serve passengers by making new goods and services accessible in a single commerce system across many channels, including mobile, social, and internet. This would result in a significant increase in market revenue for North America.
𝐋𝐢𝐬𝐭 𝐨𝐟 𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬 :
The prominent manufacturers operating in the market are IBM, SAP, Salesforce Inc., Voyado Lund AB, Optimizely Inc., Oracle, Adobe, Shopify Inc., BigCommerce Pty Ltd, Digital River Inc., Alibaba Group Holding Limited, HCL Technologies. They have adopted various strategies, such as new product launches, mergers & acquisitions, expansions, partnerships, joint ventures, and others to strengthen their position in the market.
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The report studies the types and applications of the global Commerce Cloud market. The report categorizes the Commerce Cloud industry into different types covering different products supplied in the Commerce Cloud market. Each type is briefly described in the report such that why it is used, the main sources, the production costs, and the processing involved in it. Depending upon various applications of the products and services in the market, the Commerce Cloud market is categorized in the following non-exhaustive list of products. The application segment is anticipated to grow rapidly shortly due to its unique features and solutions, other crucial information about the types and applications is given in the report.
Emergen Research has segmented the global commerce cloud market based on component, organization size, application, and region:
Component Outlook (Revenue, USD Billion; 2019-2030)
Platform
Business to Business (B2B)
Business to Customer (B2C)
Service
Consulting
Integration & Deployment
Support & Maintenance
Organization Size Outlook (Revenue, USD Billion; 2019-2030)
Large Enterprises
Small & Medium Enterprises (SMEs)
Application Outlook (Revenue, USD Billion; 2019-2030)
Fashion & Apparel
Electronics, Furniture & Bookstores
Grocery & Pharmaceuticals
Automotive
Travel & Hospitality
Others
𝐅𝐨𝐫 𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞 𝐈𝐧𝐪𝐮𝐢𝐫𝐲@ https://www.emergenresearch.com/purchase-enquiry/1369
Leading businesses who are looking for new sources of income will find this research to be quite helpful in understanding the market and its underlying dynamics. It will be helpful for businesses looking to diversify into new markets or increase the scope of their current operations.
How will this Report Benefit you?
A 250-page report from Emergen Research includes 194 tables and 189 charts and graphics. Anyone in need of commercial, in-depth assessments for the global Commerce Cloud market, as well as comprehensive market segment analysis, can benefit from our new study. You can assess the whole regional and global market for Commerce Cloud with the aid of our recent study. To increase market share, obtain financial analysis of the whole market and its various segments. We think there are significant prospects in this industry for rapidly expanding energy storage technology. Look at how you may utilise the current and potential revenue-generating prospects in this sector. The research will also assist you in making better strategic decisions, enabling you to build growth strategies, strengthen competitor analysis, and increase business productivity.
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What Questions Should You Ask before Buying a Market Research Report?
• How is the Commerce Cloud market evolving?
• What is driving and restraining the Commerce Cloud market?
• How will each Commerce Cloud submarket segment grow over the forecast period and how much revenue will these submarkets account for in 2030?
• How will the market shares for each Commerce Cloud submarket develop from 2022 to 2030?
• What will be the main driver for the overall market from 2022 to 2030?
• Will leading Commerce Cloud markets broadly follow the macroeconomic dynamics, or will individual national markets outperform others?
• How will the market shares of the national markets change by 2030 and which geographical region will lead the market in 2030?
• Who are the leading players and what are their prospects over the forecast period?
Thank you for reading our report. Customization of the report is available according to the requirements of clients. In case of further queries about the report, do get in touch with us. Our team will make sure your report is tailored according to your needs.
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Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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