Global Commerce Cloud Market

Global Commerce Cloud Market Size, Share, Growth Analysis, By Deployment Model(Public Cloud, Private Cloud), By Solution(Order Management, Payment Processing), By End User(Retail, BFSI (Banking) - Industry Forecast 2023-2030


Report ID: SQMIG45B2102 | Region: Global | Published Date: February, 2024
Pages: 197 | Tables: 96 | Figures: 76

Global Commerce Cloud Market Insights

Global Commerce Cloud Market size was valued at USD 21.72 billion in 2021 and is poised to grow from USD 26.23 billion in 2022 to USD 118.96 billion by 2030, growing at a CAGR of 20.8% in the forecast period (2023-2030).

Global commerce cloud market has been on the increase due to the growing e-commerce sector coupled with an increasing use of cloud-based technologies.

They also help businesses improve customer experience online and simplify operational procedures of business as well as boost their sales.

This is partly driven by the move towards digitalization, in which businesses require agile and expandable solutions for ever-changing customer needs.

The momentum in the market is mainly driven by factors such as the surge of omnichannel retailing, consumers’ increasing expectations for personalised, real-time, and seamless engagements, and the penetration of new technologies including artificial intelligence.

Moreover, the competitive environment is ever-changing as well where major participants continuously launch the strong, robust, and functional Commerce cloud products and thus the market can be predicted to have a substantial upswing over the coming period.

Market snapshot - 2023-2030

Global Market Size

USD 21.72 billion

Largest Segment

Order Management

Fastest Growth

Payment Processing

Growth Rate

20.8% CAGR

Global Commerce Cloud Market ($ Bn)
Country Share for North America Region (%)
Global Commerce Cloud Market By Type ($ Bn)
Global Commerce Cloud Market By Type (%)

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Global Commerce Cloud Market Segmental Analysis

The global commerce cloud market is segmented into four major segments i.e. by deployment model, solution, end user, and region. Based on the deployment model, it is divided into public cloud, private cloud, hybrid cloud. Based on the solution, it is bifurcated as order management, payment processing, customer relationship management (CRM), E-commerce hosting, and others. Based on end users it is segregated into, retail, BFSI (Banking, Financial Services, and Insurance), healthcare, IT and telecom, others. Based on region, the market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle East and Africa.

Analysis by Type

It is likely that the order management solution will take over the market. Effective e-commerce entails the ability to process orders efficiently and manage them effectively, which businesses value in solutions designed for better order fulfilment. Order Management solution helps to improve process performance across the complete order cycle – from receiving orders to fulfilment, thereby enhancing operations productivity as well as client satisfaction.

The most promising solution is likely payment processing. E—commerce transactions continue to increase in number globally, therefore a strong and safe payment process should exist. With increased use of digital payments, businesses invest more into modern payment technology which provides hassle-free and secure transactions giving space for quick development of the solution.

Analysis by End-User

The retail sector may be the most dominant force in the field. Businesses in this sector have been investing in commerce cloud solutions to optimize the experience for online shoppers, manage their stocks effectively, and satisfy the increasing demand by digital buyers that is brought about by e-commerce platforms.

Among all the end users’ segments, healthcare might be the most rapidly developing one. Growing digitization of the healthcare and e-commerce market requires adopting commerce cloud solutions. The need for better health care, patient experience and process improvement are reasons why high- technology e- commerce solutions will increase at a fast rate in this sector.

Global Commerce Cloud Market By Type, 2021 (%)

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Global Commerce Cloud Market Regional Insights

The commerce cloud market will probably be dominated by North America alone. The dominance is due to the maturity of the business environment, wide technological adoption, and strong digital facilities. Some of the major economies like the United States and Canada have propelled a majority of their investments into Commerce cloud that aims at boosting online business as well as increasing consumer enjoyment.

The fastest- growing region can be the Asia-Pacific. Indeed, the Asia-Pacific region has witnessed increased e-commerce activities on account of the fast-expanding virtual economy, burgeoning internet access and rising disposable income among the more affluent middle class population. Chinese, Indian, and most nations in SouthEast Asia have gone digital and this results in an increased demand for online products.

Global Commerce Cloud Market By Region, 2023-2030
  • Largest
  • Fastest

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Global Commerce Cloud Market Dynamics

Drivers

Increasing Demand for Personalized Customer Experiences

  • The rising need for smooth and tailored-made customer encounters. Through their Commerce Cloud solution offerings, companies are able to provide personalized shopping experiences based on customer data analysis and artificial intelligence. Another catalyzing factor is the continual growth of e-business which is facilitated by the spread of digital channels and the expanding influence of internet sales. The businesses that understand the value of omnichannel approach have invested in the commerce cloud platform to consolidate and enhance the sales channel both in offline and online markets.

Restraints

High Concern Over Data Security and Privacy

  • Data privacy and security is another major market factor. With increased business utilization of Commerce Cloud platforms for processing personal consumer information and transactions, there is rising anxiety about data breaches and compliance with strict data privacy laws. A third restraint factor is associated with business integration of legacy systems and reconfiguring established organizational processes, which may result in operational downtime during deployment of Commerce Cloud implementations. The use of such platforms as Facebook, Instagram among others brings the financial challenge to SMEs, because these platforms are characterized by high initial cost and continuing bills.

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Global Commerce Cloud Market Competitive Landscape

The competitive environment of the commerce cloud market is dynamic and marked by the presence of key players competing to establish market dominance. E-commerce platform providers, including Shopify and Magento, contribute to the competition by offering specialized services. The market also witnesses the entry of innovative startups focusing on niche segments or introducing novel features. Competition is characterized by continuous technological advancements, with an emphasis on enhancing user experiences, scalability, and integration capabilities. Partnerships, mergers, and acquisitions are common strategies employed by key players to expand their offerings and global reach.

Top Player’s Company Profiles

  • IBM
  • SAP
  • Salesforce Commerce Cloud
  • Adobe Commerce Cloud (Magento)
  • Shopify
  • BigCommerce
  • VTEX
  • commercetools
  • Episerver
  • Oracle Commerce
  • Kibo Commerce
  • Elastic Path
  • Sitecore Experience Commerce
  • Digital River
  • Apttus
  • Voyado
  • Optimizely
  • HCL Technologies
  • Acumatica
  • Sana Commerce

Recent Developments

  • In October 2023, Omnicom discovered its goal to buy Flywheel Digital, Ascential's virtual commerce section, for an anticipated internet coins acquisition of around USD 835 million. Flywheel Digital focuses on presenting services that empower main manufacturers to optimize their sales across severa digital marketplaces, which include foremost platforms like Amazon, Walmart, and Alibaba. This strategic acquisition positions Omnicom to enhance its abilities in navigating and optimizing virtual commerce channels for its consumer manufacturers.
  • In April 2023, One Equity Partners had efficiently finalized the purchase of Liquid Web, a main company of managed cloud services and extensive naked steel property throughout North America and Western Europe. This strategic pass outcomes in the establishment of CloudOne Digital, an enlarged platform poised for consolidation inside the cloud web hosting region. The executive group from Liquid Web, along with Jim Geiger as CEO, Carrie Wheeler as COO, and Joe Oesterling as CTO, will adopt accelerated roles inside the newly fashioned CloudOne platform.

Global Commerce Cloud Key Market Trends

Rising Importance of Headless Commerce Architecture

  • Headless commerce architectures are gaining momentum as they give companies the ability to offer smooth and tailored interactions in different contact points. Other notable trends include using AI and ML in Commerce clouds to improve the ability to target customers accurately and predictively. Progressive web applications (PWA) or progressive internet apps are another significant growth area that helps consumers engage with their favourite brands through better mobile commerce experiences.

Global Commerce Cloud Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.

Global commerce cloud market analysis reveals a dynamic marketplace with a number of standout trends and difficulties. The market is propelled by the demand for seamless customer experiences and the global expansion of e-commerce. However, concerns over data security, integration complexities, and high costs restrain its growth. Product type analysis reveals a spectrum of solutions, including B2B and B2C commerce cloud platforms. North America dominates due to a mature e-commerce landscape, while Asia-Pacific emerges as the fastest-growing region with increasing digital adoption. Key trends include the rise of headless commerce, integration of AI, and a focus on sustainability, shaping the dynamic evolution of the Commerce Cloud market.

Report Metric Details
Market size value in 2021 USD 21.72 billion
Market size value in 2030 USD 118.96 billion
Growth Rate 20.8%
Base year 2021
Forecast period 2023-2030
Forecast Unit (Value) USD Billion
Segments covered
  • Deployment Model
    • Public Cloud, Private Cloud, Hybrid Cloud
  • Solution
    • Order Management, Payment Processing, Customer Relationship Management (CRM), E-commerce Hosting, Others
  • End User
    • Retail, BFSI (Banking, Financial Services, and Insurance), Healthcare, IT and Telecom, Others
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • IBM
  • SAP
  • Salesforce Commerce Cloud
  • Adobe Commerce Cloud (Magento)
  • Shopify
  • BigCommerce
  • VTEX
  • commercetools
  • Episerver
  • Oracle Commerce
  • Kibo Commerce
  • Elastic Path
  • Sitecore Experience Commerce
  • Digital River
  • Apttus
  • Voyado
  • Optimizely
  • HCL Technologies
  • Acumatica
  • Sana Commerce
Customization scope

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  • Segments by type, application, etc
  • Company profile
  • Market dynamics & outlook
  • Region

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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Global Commerce Cloud Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Global Commerce Cloud Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Global Commerce Cloud Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Commerce Cloud Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Commerce Cloud Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Global Commerce Cloud Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Global Commerce Cloud Market size was valued at USD 21.72 billion in 2021 and is poised to grow from USD 26.23 billion in 2022 to USD 118.96 billion by 2030, growing at a CAGR of 20.8% in the forecast period (2023-2030).

The competitive environment of the commerce cloud market is dynamic and marked by the presence of key players competing to establish market dominance. E-commerce platform providers, including Shopify and Magento, contribute to the competition by offering specialized services. The market also witnesses the entry of innovative startups focusing on niche segments or introducing novel features. Competition is characterized by continuous technological advancements, with an emphasis on enhancing user experiences, scalability, and integration capabilities. Partnerships, mergers, and acquisitions are common strategies employed by key players to expand their offerings and global reach. 'IBM', 'SAP', 'Salesforce Commerce Cloud', 'Adobe Commerce Cloud (Magento)', 'Shopify', 'BigCommerce', 'VTEX', 'commercetools', 'Episerver', 'Oracle Commerce', 'Kibo Commerce', 'Elastic Path', 'Sitecore Experience Commerce', 'Digital River', 'Apttus', 'Voyado', 'Optimizely', 'HCL Technologies', 'Acumatica', 'Sana Commerce'

The rising need for smooth and tailored-made customer encounters. Through their Commerce Cloud solution offerings, companies are able to provide personalized shopping experiences based on customer data analysis and artificial intelligence. Another catalyzing factor is the continual growth of e-business which is facilitated by the spread of digital channels and the expanding influence of internet sales. The businesses that understand the value of omnichannel approach have invested in the commerce cloud platform to consolidate and enhance the sales channel both in offline and online markets.

Headless commerce architectures are gaining momentum as they give companies the ability to offer smooth and tailored interactions in different contact points. Other notable trends include using AI and ML in Commerce clouds to improve the ability to target customers accurately and predictively. Progressive web applications (PWA) or progressive internet apps are another significant growth area that helps consumers engage with their favourite brands through better mobile commerce experiences.

The commerce cloud market will probably be dominated by North America alone. The dominance is due to the maturity of the business environment, wide technological adoption, and strong digital facilities. Some of the major economies like the United States and Canada have propelled a majority of their investments into Commerce cloud that aims at boosting online business as well as increasing consumer enjoyment.

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Want to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.

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