MarketsandMarketsforecasts the global commerce cloud market size is expected to grow from USD8.9 billion in 2019 to USD 27.0 billion by 2024, at a Compound Annual GrowthRate (CAGR) of 24.9% during the forecast period. An increasing number ofbusinesses moving online are expected to provide huge opportunities in themarket.
According toMarketsandMarkets, commerce cloud is a part of digital commerce that provides acloud-based, multi-tenant, Business-to-Business (B2B), and Business-to-Customer(B2C) commerce platform. It enables intelligent and unified buying experiencesacross channels such as mobile, websites, social media platforms, and offlinestores. The platform aids in the digital business growth of brands by enablingrapid deployment and enhanced customer reach.
DownloadPDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=140063261
Some of themajor commerce cloud vendors are IBM (US), SAP (Germany), Salesforce (US),Apttus (US), Episerver (US), Oracle (US), Magento (US), Shopify (Canada),BigCommerce (US), and Digital River (US), Elastic Path (Canada), VTEX (Brazil),commercetools (Germany), Kibo (US), and Sitecore (India). These commerce cloudvendors have adopted various organic and inorganic strategies to sustain theirpositions and increase their market shares in the global commerce cloud market.
IBM is oneof the leading players in the commerce cloud market. Founded in in 1911, IBM isheadquartered in New York, US. As of December 2018, the company had 381,100employees globally. The company’s major operating sector consists of 5 businesssegments, namely, cognitive solutions, global business services, technologyservices and cloud platforms, systems, and global financing. IBM has a broadand robust product portfolio and majorly focuses on improving the productefficiency of analytics, cloud, cognitive, commerce, Internet of Things (IoT),industry solutions, systems, mobile, security, social, and Watson technologies.In May 2019, IBM entered into a partnership with ‘Vodafone Idea’ (an AdityaBirla Group and Vodafone Group partnership). The partnership provides VodafoneIdea with a hybrid cloud-based digital platform for more intimate engagementwith its more than 385 million subscribers enhancing business efficiency,agility, and scale plus simplification of its business processes. The newinfrastructure platform removes the complexities in the exponential growth ofdata consumption by increasing access to video, streaming, and digitalcommerce.
Anotherleading company in the commerce cloud market is SAP, which was founded in 1972and is headquartered in Walldorf, Germany. The company categorizes its diverseportfolio into applications; technologies and services; and SAP businessnetwork segment. As of 2018, SAP has an employee strength of 93,709 with atotal customer base of more than 345,000 spread across 180 countries. It catersto various industries, such as Banking, Financial Services, and Insurance(BFSI), public services, telecommunications, and media and entertainment. InMay 2019, SAP announced the Embrace, a partnership program with MicrosoftAzure, Amazon Web Services (AWS), Google Cloud, and global strategic servicepartners. The Embrace planned to underpin technology services required to helpcustomers and achieve the best business outcomes.
Buy now this report @ https://www.marketsandmarkets.com/Purchase/purchase_reportNew.asp?id=140063261
