Why Adopting Commerce Cloud is a Must for the Survival of Your Business

The evolution of global trade has been parallel to the evolution of human species. From navigating through ships to reach faraway lands to buying an internet domain for launching a new e-commerce website, global trade and commerce has come a long way. The latest technology in commerce which has taken the world by storm is commerce cloud technology.

Why commerce cloud technology is the future of global trade and commerce

Commerce cloud technology can be defined as a suite of cloud-based services that allow e-commerce websites to offer both B2B and B2C solutions. Thus, businesses can make use of cloud commerce technology to offer e-commerce solutions either directly to customers or to other businesses. The biggest advantage of adopting commerce cloud technology is the scalability aspect. The problem faced by most e-commerce websites is the inability of these websites to respond and accommodate the exponential surge in demand. By deploying commerce cloud technology, businesses can easily scale their operations.

Another important advantage of commerce cloud technology is the mobile-friendly option offered by it. Since most customers look to buy products from e-commerce websites using their mobile applications, using commerce cloud solutions helps the business to build a robust platform.

Potential growth opportunities for the industry

The increasing penetration of smartphones and tablets across the world is expected to be the primary growth driver of the global commerce cloud industry. Moreover, the rising expanse of the e-commerce industry around the world, especially in the developing countries, is anticipated to open up new avenues for investment in the industry. Additionally, the growing volume of data that is generated across the globe is estimated to strengthen the position of the industry.

Based on type, the public cloud segment is anticipated to amass an absolute revenue of $5615 million from 2022 to 2032. At the same time, the private cloud and hybrid cloud segments will collectively hold a revenue of $5983.1 million during the forecast period. On the other hand, by region, the India commerce cloud industry is set to witness growth at a CAGR of 30.4% in the analysis timeframe.

Mergers and acquisitions

Some interesting developments have taken place in the global commerce cloud industry in the past few years. Leading companies in the market have been engaging in establishing strategic alliances among themselves to establish a dominance in the sector. For instance, in November 2021, WPP announced the acquisition of Cloud Commerce Group, a UK-based technology firm. The statement released by WPP said that the acquisition will help the company to scale up its operations in the coming period.

Similarly, in October 2023, Salesforce, a major technology company, announced the acquisition of Airkit.ai, a leader in AI technology. The main aim behind this acquisition as put forth by Salesforce is to capitalize on the expertise of Airkit.ai in terms of customer service applications to build advanced AI-powered customer engagement applications. Both these acquisitions and many such strategic alliances have, in fact, expanded the scope of the industry and will continue to do so in the coming period.

All in all, the crucial advantages offered by the commerce cloud technology and the increasing expanse of e-commerce sector will help the commerce cloud industry to flourish in the coming period. Furthermore, strategic alliances among key players will create favorable growth opportunities in the market.

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