As per the latest study by Market Research Future Reports (MRFR), the global commerce cloud market is projected to value USD 25.2 billion, with a promising CAGR of 22.7% by the end of 2025. The rapid adoption of commerce cloud across the various enterprises is the major factor driving the global commerce cloud market 2020. There has been an inclination towards e-commerce from the past few years, which is estimated to be a significant factor driving the global commerce cloud market. Besides, there has been a rise in the adoption of AI in carrying out commercial ventures. In addition, there has been a rise in demand for a tool to analyze and collect data pertaining to the consumer’s purchasing preferences, which has propelled the market significantly. Besides, the commerce cloud is not complex and easy to maintain. Hence the demand has been surging. However, the hesitation to adopt the cloud-based technology is anticipated to be a restraining factor.
The research performed by MRFR tracks the aftermath of the COVID-19 pandemic. Furthermore, a precise evaluation of factors augmenting and impeding the market in the post-COVID-19 environment has been analyzed. We will provide COVID-19 impact analysis with the report.
The global commerce cloud market can be segregated on the basis of component, service, enterprise size, application, installation platform, and region.
Based on components, the global commerce cloud market can be classified into B2B Commerce Cloud and B2C Commerce Cloud.
Based on service, the global commerce cloud market can be classified into Training and Consulting, Support and Maintenance, and Integration and Deployment.
Based on enterprise size, the global commerce cloud market can be classified into Large Enterprises and Small and medium enterprises.
The geographical analysis of North America, the Middle East & Africa, Asia-Pacific, Europe, and South America has been conducted. As per the analysis, North America is estimated to acquire the largest market share. The region consists of several established players, which allows the region to have the upper hand. The analysis has revealed that Europe is flourishing due to the SMEs adopting the technology. Besides, the region is experiencing an exponential increment in e-tailing.
Furthermore, the APAC region is estimated to expand at the fastest pace during the forecast period. The enterprises of the APAC region are adopting cloud technology at a fast pace, which is further expanding the regional market.
In MEA, the major contribution is made by Israel and South Africa. The countries are adopting the latest technologies and making efforts to strengthen the market. On the other hand, South American countries are adopting cloud technology and boosting the regional market. SMEs are willingly adopting cloud technology.
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