Cloud Enterprise Application Software Market Size, Drivers, Growth, Report 2022-2027
The latest research study “Cloud Enterprise Application Software Market : Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global cloud enterprise application software market size reached US$ 116.84 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 274.51 Billion by 2027, exhibiting a growth rate (CAGR) of 13.70% during 2022-2027.
Cloud enterprise application software represents advanced business solutions employed by organizations to perform several operations with improved productivity and efficiency. They consist of customer relationship management (CRM), enterprise resource planning (ERP), content management system (CMS), web conferencing, supply chain management (SCM), business intelligence (BI), business process management (BPM), enterprise asset management (EAM), etc. Cloud enterprise application software services assist with contact center operations management (CCOM), improve customer relations, track inventory, predict future product demand, etc. They even aid in automating business procedures and analyzing reported data and visuals. Consequently, cloud enterprise application software systems find extensive applications across various sectors, including manufacturing, banking, healthcare, retail, government, oil and gas, telecommunication, etc.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Cloud Enterprise Application Software Market Trends and Drivers:
The increasing requirement for cloud-based computing and the shifting preferences toward a customer-centric approach are primarily driving the cloud enterprise application software market. In addition to this, the expanding industrialization, the escalating internet penetration, and the growing usage of the software as a service or SaaS-based cloud computing service model that aids in reducing information technology (IT) infrastructural costs and updates, synchronizes, and stores documents are acting as significant growth-inducing factors. Besides this, the elevating employment of big data analytics, security interface, and mobile app development platforms, to perform complex cloud-based applications and optimize security compliances is also positively influencing the global market. Moreover, the emerging trend of bring-your-own-device (BYOD) and work-from-home (WFH) models and the rising need for hybrid cloud computing enterprise applications for asset management are expected to augment the cloud enterprise application software market in the coming years
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Cloud Enterprise Application Software Market 2022-2027 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Accruent LLC (Fortive Corporation), Epicor Software Corporation, Hewlett Packard Enterprise Development LP, IFS AB, Infor Inc. (Koch Industries Inc.), International Business Machines Corporation, Microsoft Corporation, Oracle Corporation, QAC Inc., Salesforce Inc. and SAP SE.
The report has segmented the market on the basis of solution and industry vertical.
Breakup by Solution:
- Customer Relationship Management (CRM)
- Enterprise Resource Planning (ERP)
- Supply Chain Management (SCM)
- Web Conferencing
- Business Intelligence (BI)
- Business Process Management (BPM)
- Content Management System (CMS)
- Enterprise Asset Management (EAM)
Breakup by Industry Vertical:
- Manufacturing and Services
- Banking, Financial Services and Insurance (BFSI)
- Oil and Gas
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
Key highlights of the report:
• Market Performance (2016-2021)
• Market Outlook (2022- 2027)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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