Commerce Cloud Market – Growth, Trends, And Forecasts (2020 – 2025)
The Commerce Cloud Market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
The Commerce Cloud Market is expected to register a CAGR of approximately 23% during the forecasted period (2020 – 2025).
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Top Leading Companies of Commerce Cloud Market are Salesforce.com, Inc., Lightwell Inc. (IBM Corporation), SAP SE (Maihiro GmbH), Oracle Corporation, BigCommerce Pty. Ltd., Shopify Inc., Episerver, Amazon Web Services, Inc., Magento (Adobe, Inc.), Apttus Corporation, Google LLC and others.
Industry News and Developments:
– June 2020 – SAP introduced SAP S/4 HANA Cloud and SAP Commerce Cloud in India. With its core applications hosted locally, the Indian enterprises are anticipated to be able to meet end-to-end customer demands and make commerce a seamless experience for retailers, while ensuring compliance with current and upcoming personal data protection bills.
– July 2019 – Salesforce and the Chinese e-commerce firm Alibaba collaborated to help Salesforce expand to customers in Mainland China, Hong Kong, Macau, and Taiwan, while Salesforce will become the exclusive enterprise customer relationship management (CRM) product suite sold by Alibaba. The products that Salesforce plans to sell in China include Sales Cloud, Service Cloud, Commerce Cloud, and Salesforce Platform.
Key Market Trends:
B2C Commerce Platform Expected to Gain Maximum Traction
– B2C Commerce Cloud Platforms are expected to gain maximum attention from brands and retailers, which are looking for solutions to provide seamless shopping experiences to engage consumers. Commerce Cloud offers a set of solutions to enable brands and retailers to innovate quickly, deliver connected, personalized experiences, and drive customer engagement, sales, and loyalty across channels.
– It allows retailers to build and launch innovative campaigns and promotions easily, based on consumer behavior, channel, and location, without IT support. These platforms harness the capability of artificial intelligence to drive revenue by analyzing real-time customer insights and boost conversions with intelligent search results.
– Also, increasing demand for online shopping amongst consumers is expected to further increase the demand for B2C Commerce Cloud solutions. According to Salesforce’s Q1 Shopping Index, digital shopping traffic grew by approximately 45%, mainly driven by a 51% growth in mobile activity and a 50% increase in desktop traffic. Moreover, shopping sites offering buy online, pickup in-store (BOPIS) services exhibited around 27% increase in their digital revenue in Q1, as compared to a 13% increase in digital revenues for those not offering BOPIS.
– Several retailers are collaborating with B2C commerce cloud providers to create unified, intelligent digital commerce experiences, both online and in the store. For instance, in November 2019, ShipperHQ, the storefront shipping management solution for eCommerce, integrated with the Salesforce B2C Commerce platform to enable merchants on B2C Commerce to derive accurate shipping rates.
Regional Outlook of Commerce Cloud Market report includes the following geographic areas such as: North America, Europe, China, Japan, Southeast Asia, India and ROW.
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What Are The Market Factors That Are Explained In The Report?
Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
Analytical Tools: The Commerce Cloud Market Report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.
Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
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