The commerce cloud industry is estimated to increase from US$ 13 billion in 2020 to US$ 60 billion by 2031, at a CAGR of more than 20% between 2021 and 2031. This is a cloud-based commerce platform that allows brands to create a unified commerce and purchasing experience across numerous digital platforms, including mobile, online, social media, and others. Enterprises may improve the customer experience for their connected shoppers by utilizing the commerce cloud. The demand for commerce cloud solutions will increase significantly over the next five years as the global eCommerce sector grows.
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In recent years, portable devices such as smartphones, tablets, and laptops have provided the most efficient platform for performing activities such as online payment, online retailing, online e-commerce activities, and many others. According to data, about 80% of smartphone users completed an online purchase using their smartphone devices in 2019, demonstrating the global significance of online shopping. Such a device improves flexibility and performance while also reducing the time and expense of conducting online business, which supports the use of commerce cloud platforms.
Increase in eCommerce Commerce Cloud Adoption is More Likely to Increase
The transition of Fast Moving Consumer Goods (FMCG) enterprises from offline to online commerce would boost the expansion of the commerce cloud platform. The COVID-19 epidemic has had a significant impact on the physical and mortar retail environment, resulting in low product sales and business loss worldwide.
Commerce cloud solutions aid in the consolidation of numerous eCommerce stakeholders like as executives, IT, marketing, and sales, among others. These stakeholders are involved in the full grocery retail process and contribute to the connected shopper’s great purchase experience. Furthermore, client interest in online purchasing was increasing at an alarming rate. And the coronavirus pandemic worked as a stimulus for this new purchasing habit.
Key Players:
- iRainy
- Golden Gate Grinders
- Mendo Mulcher
- ApoTheCarry
- Higher Standards
- Zam Grinders
- Papers & Ink
- Cloudious9
- Santa Cruz Shredder
- Iaso
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Regional Analysis:
Europe’s Demand for Commerce Cloud
The retail industry contributes considerably to the European economy, with Western European countries such as Germany, the United Kingdom, and France leading overall eCommerce sales in 2020, accounting for about 83% of total Europe online sales. These regions have higher levels of eCommerce penetration, and brands and merchants are embracing different online channels, such as mobile and web platforms, to provide better customer experiences. Amazon leads the European eCommerce market with roughly a quarter of the market, followed by eBay, AliExpress, and other retailers. Such advancements and growth in Europe’s eCommerce sector would stimulate demand for commerce cloud platforms.
Key Segments of Industry:
- By Solution
- Commerce Cloud Platform
- Services
- Consulting
- Integration and Deployment
- Support and Maintenance
- By Enterprise Size
- Large enterprises
- Small and Medium-sized Enterprises (SMEs)
- By Application
- Electronics & Electricals
- Pharmaceutical & Healthcare
- Automotive
- Fashion and Apparel
- Travel and Hospitality
- Food & Beverages
- Other
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