Commerce Cloud Market Trends : Revenues to Go Up In The Forthcoming Years (SARS-CoV-2, Covid-19 Analysis)
The sudden challenges created by the ongoing COVID-19 are captured effectively to exhibit the long term growth projections in the MRFR report on Commerce Cloud Market Trends. The growth sectors of the Commerce Cloud Market Trends are identified with precision for a better growth perspective.
The Global Commerce Cloud Market, according to the report by Market Research Future (MRFR), is slated to reach a value of USD 25.2 Billion by 2025 at a substantial CAGR of 22.7% over the review period.
Drivers and Restraints
The several driving factors expected to influence the growth of the commerce cloud market are the Augmented AI adoption in all commercial ventures, Demand for a centralized purchasing platform across B2C business verticals, the Need for a tool to collect and evaluate data pertaining to customer buying habits, Ease of maintenance and decrease in installation intricacy, Business requirement for data-driven insight, Shift from retail to e-commerce for most enterprises, and Automated merchandising.
On the other hand, factors likely to restrain the market growth over the review period are the Skepticism of cloud-based technology and the Significant learning curve for using this technology.
Segmental Analysis
The global market for commerce cloud is segmented on the basis of component, service, installation platform, enterprise type, and application.
By Component, the commerce cloud market has been segmented into b2b, which is Excellent for understanding B2B needs and studying the purchasing patterns of clients; and b2c, which Assists in streamlining checkout and understanding ideal average order value and customer preference.
By Service, the market has been segmented into training and consulting, integration and deployment, support, and maintenance. Training and consulting services are provided to enterprises to improve their practical usage of the solution, meet the definite needs of individual organizations, and produce measurable business results. The service restructures the learning process and disregards the trial and error phase. Integration and Commerce cloud is primarily employed to form an overarching view of the entire commercial enterprise. The solution needs to be cohesive with different facets of an enterprise and provide an easy-to-understand overview of the business as the whole structure. The integration of and deployment service ensures smooth deployment of the solution for maximized usability. Support and maintenance services include knowledge transfer, 24x7 support, service enhancements, and production support. The segment is slated to witness the highest growth rate during the forecast period.
By the Installation Platform, the market is bifurcated into desktop and mobile. Desktop: The broader market within this segment, the desktop cloud market is expected to keep growing. Mobile: The faster-growing sector, mobile commerce cloud installation, is increasing due to the shift in e-commerce from desktops to mobiles.
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