Global Commerce Cloud Market Insights:
The global market for commerce cloud is estimated to grow at a significant CAGR during the forecast period. Commerce cloud is a scalable cloud based software-as-a-service solution for e-commerce. The market is driven by growing implementation and adoption of cloud based services in various business operations to improve their efficiency. Commerce cloud is highly scalable, has seamless upgrades and is fully responsive and adaptive. Some of the services provided by commerce cloud are account administration, catalog management, order management and customization among others. Some other factors driving the market for commerce cloud are growing digitization and investments by companies to improve business operations.
Commerce Cloud Market: Business Type Insights
Based on business type, the global commerce cloud industry is classified into B2B and B2C. The B2B segment is estimated to hold the largest market share in terms of revenue during the forecast period. Commerce cloud has multiple capabilities in the B2B segment such as account administration, catalog management and order management among others. The B2C segment is also projected to grow at a significant CAGR during the forecast period.
Commerce Cloud Market: Organization Size Insights
On the basis of organization size, the market has been segmented into small & medium sized enterprise and large enterprise among others. The small & medium enterprises segment is projected to grow at a higher CAGR during the forecast period due to growing adoption of the service and increased spending capacity of small scale businesses. The large enterprise segment is also expected to hold a significant share in the commerce cloud market.
Commerce Cloud Market: Application Insights
The market has been classified into marketing, merchandising, promotions, customer service, brand scaling, and work streamlining among others on the basis of application. The customer service and work streamlining segment is estimated to hold a significant share in the global commerce cloud market during the forecast period. Growth in the segment can be attributed to growing importance of customer relationship management and the ability of comer clouds to efficiently provide this service.
North America is estimated to hold the largest share in the global commerce cloud market during the forecast period. The market is driven by presence of major companies and investment in enhancing capabilities of businesses. The Asia Pacific region is projected to grow at the highest CAGR during the forecast period. The major companies contributing towards growth in the market are China, India, Japan and South Korea among others. The European region is also expected to grow at a significant CAGR during the coming years.
The report contains a chapter dedicated to vendors operating in the market, covering raw material manufactures, equipment developers, manufacturers, and distributors. The report provides these insights on a regional level. This section of the report entails contact details, experience, products manufactured/supplied, and geographical presence of companies.
Company Market Share & Competitor Analysis
Major players in the market are SAP, IBM, Appian (US), Pegasystems, Micro Focus, Microsoft, Ricoh, Nintex, PNMsoft, TrackVia, Flokzu, Bitrix, Zoho, Decisions, K2, BP Logix, KISSFLOW, VIAVI Solutions and Cflow among others.
On 27th June 2019, Adobe launched a new headless commerce infrastructure which streamlines continuous integration and continuous delivery processes.
In May 2019, Adobe launched a cloud product suite for retail and e-commerce technology services.
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