Press Release
Press Release
Rising disposable income levels across multiple geographies as well as increased consumer online spending are creating lucrative opportunities for the commerce cloud market growth. Additionally, commerce cloud solutions allow businesses to seamlessly expand into global markets. They facilitate managing diverse currencies, tax rules, and logistics of shipping while also streamlining cross-border commerce. Furthermore, strategic alliances and collaborations between technology providers, retailers, and other stakeholders are positively influencing the market.
The rising implementation of commerce cloud solutions that enable omnichannel retail is favourably impacting the market. This methodology permits consumers to interact with a brand across multiple channels while ensuring a consistent experience. Furthermore, dynamic pricing afforded by the commerce cloud allows businesses to modify prices in real-time considering supply, demand, competitor costs, and other external elements. These solutions streamline operations and optimise engagement for both consumers and brands.
Electronics retailers leverage commerce cloud platforms to enable straightforward comparisons of product specifications and deliver deep dives into feature and function details. Furthermore, the commerce cloud for furniture retailers furnishes interactive views and virtual room configurations. Booksellers gain an advantage from digital previews and categorisation.
Further, adopting a commerce cloud in grocery and pharmaceutical retail permits one-click reordering capabilities, prescription management functions, and compliance with medical regulations. Amalgamating personalised shopping lists and real-time inventory visibility facilitates daily shopping needs. Overall, this technology advances the traditional shopping experience by offering convenience and accuracy.
In July 2023, Salesforce Inc. (NYSE: CRM) announced new innovations for the commerce cloud to help customers integrate digital commerce experiences across sales, service, and marketing channels. Capabilities such as Pay Now, Snapchat for Commerce, Reorder Portal, and Order Support allow companies to efficiently create purchasing experiences anywhere and leverage artificial intelligence, data, and customer relationship management tools to drive revenue.
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Figure: CAGR of global e-commerce market (2023-2027)
The major players in the global commerce cloud market are IBM Corporation, SAP SE, Salesforce, Inc., Conga, and Oracle Corp., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Component |
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Breakup by Organization Size |
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Breakup by Application |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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