Commerce Cloud Market estimated to generate $138.2 Billion by 2032, at a CAGR of 22.2%

WILMINGTON, DE, UNITED STATES, September 12, 2024 /EINPresswire.com/ -- The global commerce cloud market size was valued at $19.2 billion in 2022, and is estimated to reach $138.2 billion by 2032, growing at a CAGR of 22.2% from 2023 to 2032.

The service segment is expected to witness the highest growth during the forecast period. The adoption of commerce cloud services is expected to increase in several businesses, due to an increase in data centers, which increases the demand for global market in the retail industry.

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Commerce cloud provides a spectrum of capabilities that enable brands to connect with end users at every phase of the customer journey. In addition, commerce cloud measures customer satisfaction, identifies purchasing patterns, predicts demand, and optimizes store layouts. Moreover, cloud-based solutions and services have been increasingly employed in the retail industry, with rise in user data on physical as well as online platforms. In addition, commerce cloud platforms help businesses to offer the most advanced tools for marketing. Hence, the commerce cloud market forecast is driven by the need for intelligent and analytical systems that process and analyze vast amounts of data, which in turn allows organizations to take actions based on data-driven insights.

By region, North America dominated the market share in 2022 for the commerce cloud market, owing to its expanding investments in new technologies such as cloud computing and digital technologies, which is expected to drive market revenue growth in the region. Thus, anticipated to propel the growth of the market. However, Asia-Pacific is expected to exhibit the highest growth during the forecast period. Increasing demands for commerce cloud services and solutions in several sectors to improve productivity and business continuation with various business operations are expected to drive market revenue growth in the region and provide lucrative growth opportunities for the market in this region.

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The pandemic has accelerated digital transformation and opened new technological opportunities for the commerce cloud industry. In addition, with the majority of the population confined in homes during the COVID-19 pandemic, businesses needed to optimize their business operations and offerings to maximize their revenue opportunities while optimizing their operations to support the rapidly evolving business environment post-outbreak of the pandemic. This enabled many businesses to invest in commerce cloud solutions. Moreover, the post-pandemic period employs opportunities to leverage advanced digital techniques such as cloud computing, artificial intelligence (AI), and predictive modeling. These factors have encouraged businesses to adopt various strategies to expand their product portfolio. For instance, in December 2021, Optimizely, launched an integrated version of its B2B Commerce Cloud and Content Cloud products. The integration allows these two industry-leading products to be easily implemented together, enabling brands to reach audiences with more sophisticated content strategies and work more effectively across large teams of marketers. Such instances supported the commerce cloud market growth during the forecast period.

The market players operating in the commerce cloud market analysis are IBM Corporation, Salesforce.com, Inc., SAP SE, Oracle Corporation, BigCommerce Pty. Ltd., Amazon Web Services, Inc., Apttus Corporation, Shopify Inc., Magento and Sitecore. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships, which help to drive the growth of the commerce cloud industry globally.

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