Latest News- Commerce Cloud Market: Grocery and pharmaceutical is expected to lead the Application segment during 2024-2028

The Commerce Cloud Market is being driven by Growing social media penetration

The Commerce Cloud Market is expected to grow at a CAGR of 32.14% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 74435.3 million. In today's digital age, businesses are prioritizing the expansion of their online presence to cater to evolving consumer preferences. Virtual stores offer a solution by creating 3D environments that mirror the aesthetic of brick-and-mortar establishments. Leveraging advanced technologies like augmented reality (AR) and virtual reality (VR), businesses can deliver immersive shopping experiences. Customers can virtually try on clothes, experiment with products, and visualize items in their homes, thereby replicating the in-store experience. This innovative approach not only enhances customer engagement but also broadens market reach for businesses utilizing Commerce Cloud. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Application
  • Grocery and pharmaceutical
  • Electronics/ furniture/ bookstores
  • Fashion and apparel
  • Quick service restaurants
  • Others
• Component
  • Platform
  • Services
• Geography
  • North America
    • US
  • Europe
    • Germany
    • UK
  • APAC
    • China
    • Japan
  • Middle East and Africa
  • South America

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Growing social media penetration
• Need for optimizing operational efficiency
• Surging demand for e-commerce

However, the market also witnesses some limitations, which are as follows:

• Skepticism in using cloud-based solutions
• Data privacy issues related to cloud-based solutions
• High cost of cloud-based solutions

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Market Scope in Commerce Cloud Market Research Report

Find out which segment is leading the market by accessing the free PDF report

Research Analysis Overview

The Commerce Cloud market is a dynamic and innovative space where machine learning (ML) and artificial intelligence (AI) technologies are revolutionizing the way enterprises deliver seamless commerce experiences across digital channels. With the integration of ML and AI, customer profiles are enriched, enabling personalized buying experiences. Omnichannel commerce is no longer a dream but a reality, as brands leverage cloud-based commerce platforms like Salesforce Commerce Cloud to offer real-time interactions across web, mobile, social media, and even physical stores. Moreover, blockchain technology adds an extra layer of security, ensuring network and data security for digital banking services, smart wallets, and mobile payments. The e-commerce industry is embracing 5G and cloud computing solutions to provide faster and more reliable services. Operating systems and servers are being optimized to support the growing demands of commerce cloud applications. The future of commerce cloud is bright, with endless possibilities in CX, ML, AI, and more.

Market Research Overview

The super parent IT services market encompasses businesses providing IT consulting and integration, application, electronic data processing, business process outsourcing, infrastructure, and Internet services. The global Internet services and infrastructure market specifically focuses on companies supplying infrastructure and services for the Internet industry, such as data centers, cloud networking and storage, hosting, IT security, and cloud computing. These market sizes are determined by aggregating the revenues of companies delivering all types of Internet services and infrastructure services. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/