G Suite Business Software Market Trends, Drivers, Investment Opportunities, Openings, Risk, Difficulties, and suggestions

According to our latest market study on "G Suite Business Software Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Type and End User," the G Suite business software market was valued at US$ 2,224.76 million in 2021 and is projected to reach US$ 3,903.72 million by 2028; it is expected to grow at a CAGR of 8.4% from 2021 to 2028.

Many technology companies have been shifting to remote working in recent years. Remote work or hybrid work models are essential for businesses to support employees and clients for smooth functioning. As most countries are reopening due to the ease in restrictions, tech companies enable flexibility for employee satisfaction by announcing hybrid and remote work approaches. For instance, Google announced that they want their employees to come to the office at least three days a week and allow them to work remotely for up to four weeks a year. There is an increasing demand for cloud-based business solutions, such as G suite, since it is essential for companies involved in remote work to securely collaborate data between employees and use different virtual cloud-based tools to enhance their productivity.

According to secondary sources, finance, management, professional services, and information sectors have the highest potential for remote work. G suite business software considerably increases business productivity through customized solutions for task-specific needs. Therefore, the rising adoption of remote work by tech companies would create ample opportunities for the growth of the G Suite business software market in the coming years.

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The G suite business software market is segmented into type and end-user. Based on type, the global G suite business software market is segmented into administration software, ERP software, finance software, HR software, and others. In 2020, the ERP software segment led the G suite business software market globally. Based on end-user, the G Suite business software market is bifurcated into individual and enterprise. In 2020, the enterprise segment led the G suite business software market globally. Geographically, the G Suite business software market is segmented into five key regions North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). In the G Suite business software market, North America held the largest revenue share in 2020, followed by Europe and APAC. APAC is projected to be the fastest-growing region in the G Suite business software market from 2021 to 2028.

The Key Players in The Global Market Are:

GROOVE
IO
Calendly
NetHunt Inc.
Mixmax
com, inc.
Rewardly, Inc
Zendesk
Expensify, Inc.
Freshworks Inc.
Impact of COVID-19 Pandemic on G Suite Business Software Market

The COVID-19 pandemic has been affecting many businesses globally. The continuous growth in the virus-infected patients compelled governments to put a bar on the transportation of humans and goods by announcing travel bans, mass lockdowns, and business shutdowns. The lockdown imposition led to the lesser production of commodities, goods, and services. Manufacturing, automotive, semiconductor & electronics, oil & gas, mining, aviation, and other industries have witnessed a decline in their operations due to the temporary shutdown of activities.

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The COVID-19 pandemic created uncertainty, stress, and emotional disruption worldwide. Businesses and organizations struggled to provide their stakeholders with the appropriate resources to overcome the crisis. Therefore, during an emergency, effective communication is essential. An unprecedented growth was witnessed in the use of Google Meet, a video conferencing product, as businesses relied on connecting an at-home workforce to sustain productivity. Meet's day-over-day growth topped 60% in March 2021, and its daily usage is now more than 25 times what it was in January 2020. Despite this growth, the demand remained well within the network's capabilities. Google LLC has made the advanced capabilities of Google Meet free to all G suite business software users worldwide because they realize how important it is to keep colleagues connected and engaged for business continuity

The report segments the global Market as follows:

By Type (Administration Software, ERP Software, Finance Software, HR Software, Others)
By End-User (Individual, Enterprise, Others)
By Geography
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This release was published on openPR.