Press release
At CAGR of 13.3%, Cloud Enterprise Application Software Market Size Worth US$ 313.2 Billion by 2028
Cloud enterprise application software allow the data required for the services to be stored in a centralized location. This makes executing remote work easier and more secure since employees working from afar do not have to connect to the main databases or servers of the enterprise. Cloud enterprise applications fall under the category of software-as-a-service (SaaS), offering companies access to a fully developed business management solution that can be configured to meet the needs of the company. These services provide improved scalability, reduced maintenance costs, centralized data management, etc. As a result, cloud enterprise application software find widespread applications across small-, medium-, and large-scale organizations.
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Cloud Enterprise Application Software Market Trends and Drivers:
The escalating demand for these services across various industry verticals, such as manufacturing, healthcare, retail, oil & gas, BFSI, telecom, and others, is among the primary factors driving the cloud enterprise application software market. Besides this, the high inclination of companies towards a customer-centric approach, the realization of competitive advantages achieved through the implementation of these applications, the rising changes in business models, and the emerging trend of cloud computing are further augmenting the market growth. Moreover, the extensive utilization of software as a service (SaaS) cloud computing service model that aids in reducing information technology (IT) infrastructural costs and synchronizing, updating, and storing documents is also catalyzing the global market. Apart from this, the growing popularity of enterprise resource planning (ERP), supply chain management (SCP), sales force automation (SFA), customer relationship management (CRM), business intelligence (BI), and web conferencing solutions across companies is anticipated to propel the cloud enterprise application software market over the forecasted period.
Cloud Enterprise Application Software Market Report Segmentation:
Competitive Landscape:
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 been segmented the market into following categories:
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)
• Others
Breakup by Industry Vertical:
• Manufacturing and Services
• Banking, Financial Services and Insurance (BFSI)
• Healthcare
• Retail
• Government
• Oil and Gas
• Telecom
• Others
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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 (2017-2022)
• Market Outlook (2023-2028)
• 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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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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