Growth in the e-commerce sector, rise in need to optimize operational efficiency, rise in demand and focus of organizations toward optimized operational efficiency, and high adoption of cloud in small & medium enterprises drive the growth of the market. However, security threats and skepticism in using cloud-based solutions hinder the growth of the market. Furthermore, increase in need to manage multiple storefronts, growth in instances of business shifting online, technological enhancement with artificial intelligence, and machine learning are a few of the lucrative opportunities for the commerce cloud market.
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COVID-19 scenario analysis:
► The emergence of COVID-19 pandemic has severely affected almost all the industries across the globe. However, the pandemic is expected to boost online sales as customers are unable to make physical transaction due to mandatory lockdowns announced by governments across the globe.
► In addition, organizations are also expecting a change in consumer preference and thus expecting that the e-grocery will witness the highest growth, thus trying to invest in accelerating the digital transformation with the enterprise.
► Moreover, there is accelerated adoption of digital technologies in the areas of collaboration, supply chain, commerce, cloud, and others with the rise in demand for digital products and services to replace brick-and-mortar and in-person touchpoints.
► Businesses with a high degree of cloud maturity, robust digital platforms, high-performance teams, and deep digital connections with their stakeholders are estimated to be the most resilient. The ability to adapt with technology-enabled human interfaces is a key differentiator. Thus, these adoption and digitalization provide lucrative opportunities for the commerce cloud market in the upcoming year.
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The major challenge in the adoption of cloud system is the concern over data security. Cybersecurity is one of the major perimeters of cloud-based solutions. The lack of cybersecurity laws restricts the growth of the market as the data generated by commerce cloud is highly confidential. Therefore, it is essential to secure & maintain the privacy and information provided by customers or traders to enhance and improve the business. Moreover, the threat to data stores by cybercrimes on the cloud may hinder the growth of the commerce cloud market.
Key benefits of the report:
► This study presents the analytical depiction of the market along with current trends and future estimations to determine the imminent investment pockets.
► The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global commerce cloud market share.
► The current market is quantitatively analyzed to highlight the global commerce cloud market growth scenario.
► Porter’s five forces analysis illustrates the potency of buyers & suppliers in the commerce cloud market.
► The report provides detailed commerce cloud market analysis based on competitive intensity and how the competition will take shape in coming years.
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With the rise in the number of internet users, the demand for the e-commerce sector is also high. Commerce cloud offer benefits, such as enhanced and strategic shopping experiences on all touch-point with reduced disruptions and delays, to the e-commerce sector. Moreover, commerce cloud also unifies digital commerce with inventories, pricing, products & promotion benefits, and also increases productivity by automated and centralized deliveries. In addition, e-commerce companies offload all their IT operations while enabling the management and sharing of content across different categories, thereby driving the growth of the commerce cloud market.
Key Market Players:
► Salesforce.com, Inc
► BigCommerce Pty. Ltd
► SAP SE
► Apttus Corporation
► Elastic Path Software, Inc.
► Magento, Oracle Corporation
► Episerver
► IBM Corporation
► Digital River, Inc.
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