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Cloud Enterprise Application Software Market Size May Set A New Epic Growth Story | Oracle Corporation, IBM Corporation, Microsoft Corporation
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Governmental organizations are boosting their maintenance budgets for system infrastructure while simultaneously funding initiatives for project development, modernization, and enhancement. As a result of the investments' success, ICT vendors now annually set aside funding for the growth of the online market.Global ICT exports are anticipated to increase 3.9% on average year fromUS$ 784.3 billion in 2021 to US$ 955.19 billion in 2030. Global supply has increased by 9.5% yearly since 2009. In terms of global ICT exports in 2021, Ireland came in first place with US$ 169. 32 billion. The rankings placed China at number 4, the United States at number 2, and India at number 3. Since 2009, Brunei has increased by228.2%year over year, while Sierra Leone has decreased by 61.7% year over year.
By 2026, European ICT Revenue is likely to increase by 1.5% annually, from US$ 1,802,413 Million in 2021 to US$ 1,933,429 Million. The European market has increased by 3.1% annually since 2016. In terms of ICT Revenue in Europe in 2021, Germany came in first place with US$ 339,074 million. Positions 2, 3, and 4 in this ranking were held by the United Kingdom, France, and Ireland, respectively. Since 2016, Malta has increased by 16.5% year over year, while Italy has decreased by 0.2%.
The growth of the global enterprise application software market is driven by increase in adoption of cloud among enterprises, inclination of companies towards customer-centric approach, and realization of competitive advantages achieved through implementation of enterprise application software. In addition, rapid changes in business models and emerging trends of cloud are expected to offer considerable growth opportunities for the cloud enterprise application software market. However, high-costs associated with the services and security concerns hamper the market growth.
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Cloud enterprise application software market is segmented based on solution, industry vertical, and geography. By solution, the market is categorized into 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), and others. Based on industry vertical, it is classified into manufacturing & services, BFSI, healthcare, retail, government, oil & gas, telecom, and others. Geographically, cloud enterprise application software market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
KEY BENEFITS FOR STAKEHOLDERS
In-depth analysis of the global cloud enterprise application software market along with its dynamics is provided to understand the market scenario.
Quantitative analysis of the current trends and future estimations from 2017 to 2023 is provided to assist strategists and stakeholders to capitalize on prevailing opportunities.
Porter's Five Forces analysis examines the competitive structure of the cloud enterprise application software market and provides a clear understanding of the factors that influence the market expansion.
A detailed analysis of the geographical segments enables identification of profitable segments for market players.
Comprehensive analysis of the trends, subsegments, and key revenue pockets are provided in the report.
Detailed analysis of the key players operating in the cloud enterprise application software market and their business strategies are anticipated to assist stakeholders to take informed business decisions.
The key players profiled in the report are as follows:
Oracle Corporation
IBM Corporation
Microsoft Corporation
SAP SE
HP
QAD Inc.
IFS AB
Epicor Software Corp.
Infor
Salesforce.com, Inc.
KEY MARKET SEGMENTS
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
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By Industry Vertical
Manufacturing & Services
BFSI
Healthcare
Retail
Government
Oil & Gas
Telecom
Others
By Geography
North America
U.S.
Canada
Mexico
Europe
UK
Germany
France
Rest of Europe
Asia-Pacific
China
India
Japan
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
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