Global Commerce Cloud Market: Overview
Commerce Cloud is a multi-occupant, cloud-based business platform that enables brands to make insightful, collective purchasing experiencing over all channels — smartphones social, web, and store. Commerce Cloud enables brands to dispatch sooner, become quicker, and achieve more clients. Utilizing the intensity of the cloud, the innovation helps businesses create innovative customer experience that drive transformations and motivate brand loyalty amongst customers. With cutting edge digital technology imbued into the very texture of the platform, it empowers businesses to have 1-to-1 personalization without the requirement for data scientists. These are some of the prime factors that are impacting the growth of global commerce cloud market in the forecast period of 2019 to 2027.
A recent report by Transparency Market Research offers an in-depth analysis of global commerce cloud market from 2019 to 2027. It also enlightens various facets such as key drivers, notable developments, and various market opportunities for businesses to gain maximum profit in the projected period.
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Global Commerce Cloud Market: Notable Developments
The global commerce cloud market has a highly competitive landscape. It is dominated by the presence of various prominent players across the globe. This poses a tough challenge or various new entrants who are willing to establish themselves in the market. In order to overcome the challenge, the new players are focusing on adopting strategies such as mergers, partnerships and collaborations.
On the other hand, the veterans of the global commerce cloud market are focusing on bringing innovative products in the market in order to retain their dominance and acquire any forthcoming opportunities in the duration.
- November 2017, IBM took over Vivant Digital Business, an Australian boutique digital development agency. With this take-over, IBM tended to the rising needs of customers looking for transformation by means of digital transformation.
- January 2018, IBM announced strategic partnership with Salesforce, a global Customer Relation Management (CRM) leader. The partnership integrates IBM Cloud and Watson services with Salesforce Quip and Salesforce Service Cloud Einstein; this enables them to connect with customers and collaborate effectively with deeper insights.
Some of the players of global commerce cloud market are IBM, SAP, Salesforce, Apttus, Episerver, Oracle, Magento, Shopify, BigCommerce, and Digital River.
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Global Commerce Cloud Market: Key Drivers
The Fast Moving Consumer Goods (FMCG) area has moved to the direct to buyer plan of action as of late. Individuals incline toward purchasing their staple goods from the solace of their homes. There is high challenge between different online supermarkets present in the market. They attempt to pull in new clients by discounts and various promotional schemes. In the FMCG area, products are being bought all the more as often as possible by the clients. Commerce cloud systems help to incorporate different partners engaged with the general staple goods retail procedure and help in giving a positive purchasing knowledge to the customer. This is the prime reason for the growth of global commerce cloud market.
The online pharmaceutical industry has picked up footing over the most recent few years. This sector is one of the quickest developing in the Asia Pacific (APAC) district. Commerce cloud market is taking into account the pharmaceutical sector to help organizations accomplish administrative consistence, manage product confinements, and look after discernibility. Owing to these factors the global commerce cloud market is experiencing major boost in the forecast period of 2019 to 2027.
Global Commerce Cloud Market: Regional Analysis
North America is expected to dominate among all the regions, owing to its adoption of commerce cloud platforms and solutions by avrious organizations. The countries in the North American region, account for the growth of the commerce cloud market, include the US and Canada. The presence of multiple players in various countries of this region, especially in the US, have leveraged Artificial Intelligence (AI), Machine Learning (ML), and deep learning technologies as a part of their ongoing business process to stay competitive in the market.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
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- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
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- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
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- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
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