Rise of internet is changing the way we communicate, learn and negotiate. At the same time rapid adoption of smart devices for communication and M-commerce services has compelled e-commerce companies to provide a hassle-free environment to their customers. Commerce as a Service (CaaS) is a perfect solution for e-commerce companies to manage and operate their virtual e-commerce services. CaaS is hosted on the cloud, and it provides a tailor-made hosting environment to its users. Primarily, CaaS facilitates customer support services, product information catalogue management, experience management, web content management, order routing & fulfilment, payment services, management of multiple buyers, and open catalogue interface (OCI) punch services. Moreover, CaaS supports e-business to provide user-friendly purchasing environment to its customers and obtain insight into customer perspective, which in turn helps to plan customer-centric sales strategies. Thus, CaaS provides a highly supportive environment for e-commerce businesses to manage their products and services digitally, with a considerable degree of commercial freedom and planning security.
Furthermore, CaaS can be outsourced to a third-party service provider along with all the responsibilities of maintaining upgrades, storage, security, and data backup. It permits users to access virtual sites from anywhere via the internet, which in turn is expected to help gain more traffic of customers over e-commerce sites and ultimately lead to sales opportunities. Therefore, every new small and medium enterprises (SMEs) are intentionally the adopting CaaS platform. SMEs require quality IT services; however, a lack of finances for infrastructure setup leads to outsourcing of their online trade infrastructure. CaaS allows easy scaling up or scaling down of SMEs by providing a flexible interface to its users in a highly competitive environment.
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Increasing demand for internet services, smartphones, and mobile devices is driving the Commerce as a Service (CaaS) market. Mobile devices such as smartphones, tablets, etc., are increasing the touch points and attracting customer traffic to the site, which is anticipated to help bring new channel sales to e-commerce businesses. Â Conversely, low network bandwidth and weak network signals are hampering the growth of Commerce as a Service (CaaS) market. Furthermore, security issues related to payment processes are key factors restraining the Commerce as a Service (CaaS) market. However, rise in availability of cloud computing services and high speed 4GLTE network with reasonable internet plans are expected to boost the online platform market, which in turn is estimated to boost CaaS enabled e-commerce services during the forecast period.
The global Commerce as a Service (CaaS) market can be segmented based on solution, delivery model, organization size, cloud type, and region. In terms of solution, the Communication as a Service (CaaS) market can be classified into content & site management, product information management, experience management, inventory & order management, payment process management, and multi-site Management. In terms of delivery model, the market can be divided into B2B, B2C, and machine2machine commerce. In terms of organization size, the market can be split into small enterprises, medium enterprises, and large enterprise. Based on cloud type, the market is segregated into private, public, and hybrid.
Based on geography, the Commerce as a Service (CaaS) market can be segmented into North America, Asia Pacific, Middle East & Africa (MEA), South America, and Europe. North America and Europe are expected to dominate the global Commerce as a Service (CaaS) market due to developed e-commerce services with efficient warehouse logistics management facilities in these regions. The Commerce as a Service (CaaS) market in Asia Pacific is estimated to witness significant expansion due to the increasing number of online startups and high potential investors in the region.
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Key players operating in the global Commerce as a Service (CaaS) market include Wipro, Capgemini, YaaS, Intershop, BigCommerce, Netsuit (Oracle), Symphony Commerce, SAP, e-Zest Solutions, Mindtree and Broadleaf.
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