The global commerce cloud market revenue was around US$ 23.4 billion in 2023 and is estimated to reach US$ 138.2 billion by 2032, growing at a compound annual growth rate (CAGR) of 22.2% during the forecast period from 2024 to 2032.

The commerce cloud delivers a spectrum of abilities that allow brands to connect with end users at every stage of the customer journey. In addition, the commerce cloud identifies purchasing patterns, measures customer satisfaction, predicts demand, and optimizes store layouts.

Factors Influencing Market Growth

- Large enterprises in the retail industry usually utilize commerce cloud solutions to enable strategic decision-making, enhance functional efficiency, and improve customer experiences. These factors further propel the demand for cloud-based commerce platform market.

- Privacy concerns and data security can hinder the adoption of the commerce cloud market in businesses.

- The surge in the integration of 5G technology in businesses is anticipated to present remunerative opportunities for the development of the commerce cloud industry during the forecast period.

Impact of COVID-19

The COVID-19 pandemic has accelerated digital transformation and unlocked new technological possibilities for the commerce cloud industry. In addition, with the prevalence of the population confined in homes during the pandemic, businesses were required to optimize their business functions and offerings to maximize their revenue opportunities while optimizing their functions to help the rapidly growing business environment post-outbreak of the COVID-19 pandemic.

Regional Analysis

In 2023, North America dominated the global commerce cloud market in terms of revenue. This region is known for its innovation and technological improvements. The growing presence of online retail solutions providers and an augmented focus on enhancing customer insights are the major factors that increase the growth of the market in this region.

Also, Asia-Pacific is anticipated to show the highest growth during the forecast period. This is because of its growing technological investments, particularly in cloud computing and other analytical technologies, which in turn is anticipated to offer lucrative growth opportunities for the market in this region.

Leading Companies

The leading prominent companies profiled in the global commerce cloud market are: -

- IBM Corporation
- Salesforce.com, Inc.
- SAP SE
- Oracle Corporation
- BigCommerce Pty. Ltd.
- Amazon Web Services, Inc.
- Apttus Corporation
- Shopify Inc.
- Other prominent key players

Segmentation Outline

The global commerce cloud market segmentation focuses on Type, Application, Component, Enterprise Size, and Region.

Segmentation based on Type

- Public Cloud
- Private Cloud
- Hybrid Cloud

Segmentation based on Application

- Fashion and Apparel
- Electronics and Appliances
- Food and Beverages
- Pharmaceutical and Grocery
- Others

Segmentation based on Component

- Platform
- Service

Segmentation based on Enterprise Size

- Large Enterprises
- Small and Medium-sized Enterprises

Segmentation based on Region

- North America
- The U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Netherlands
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Singapore
- Rest Of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa