The global commerce cloud market size is projected to reach USD 55.67 billion by 2027, exhibiting a stellar CAGR of 20.8% during the forecast period. Rising popularity of unified commerce platforms will emerge as the central driver of growth for this market, states Fortune Business Insights™ in its report, titled “Commerce Cloud Market Size, Share & Industry Analysis, By Component (Platform, and Services), By Enterprise Size (SMEs, and Large Enterprises), By Application (Grocery and Pharmaceuticals, Fashion and Apparel, Travel and Hospitality, Electronics, Furniture and Bookstore, and Others), By End-use (B2B, and B2C), and Regional Forecast, 2020-2027“. Unified commerce can be defined as a single, integrated platform that enables an arterial connection to all aspects of a business including e-commerce, inventory management, and customer relationship. It offers a host of advantages, which is spiking its adoption rate. For example, unified commerce systems enable all-time and real-time inventory visibility and management as they create a link between the stock and all other channels associated with it. Thus, irrespective of where a certain item is in a warehouse, the manager will be able to locate it easily. Furthermore, these platforms also optimize order fulfillment by ensuring that a customer’s desired product is delivered on time, making these systems particularly useful in case of multiple warehouses situated at distant locations.
The report states that the value of the market was at USD 12.32 billion in 2019. Besides this, the report provides the following:
- Comprehensive analysis of the impact of the coronavirus outbreak on the market;
- In-depth examination of the market drivers, trends, and challenges;
- Exhaustive study of the various market segments; and
- Detailed evaluation of the regional developments and competitive landscape of the market.
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An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.