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Microsoft Dynamics Services Market Report 2024 - Microsoft Dynamics Services Market Growth And Share
Microsoft Dynamics Services Market
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According to The Business Research Company's, The Microsoft dynamics services market size has grown rapidly in recent years. It will grow from $7.86 billion in 2023 to $9.24 billion in 2024 at a compound annual growth rate (CAGR) of 17.5%. The growth in the historic period can be attributed to market demand for integrated solutions, technological advancements, competition in the enterprise software market, industry-specific needs, and collaboration within a partnership ecosystem.
The Microsoft dynamics services market size is expected to see rapid growth in the next few years. It will grow to $17.80 billion in 2028 at a compound annual growth rate (CAGR) of 17.8%. The growth in the forecast period can be attributed to continued digital transformation efforts, increasing demand for cloud-based solutions, growing emphasis on AI and analytics integration, expanding adoption of industry-specific applications, and deepening partnerships with third-party vendors. Major trends in the forecast period include artificial intelligence, enhanced customer experience through omnichannel engagement, increased adoption of low-code or no-code development, accelerated cloud migration, and focus on industry-specific solutions.
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Market Drivers and Trends:
The growing significance of digitalization is expected to propel the growth of the middle office outsourcing market going forward. Digitalization is converting information, data, or physical objects into a digital format that computers can quickly process, store, and transmit. The significance of digitalization can be attributed to increased brand awareness and visibility, enhanced customer engagement, improved customer support, and cost-effective marketing. Middle office outsourcing accelerates digitalization by providing access to advanced technologies, improving data management, enhancing cybersecurity, and offering scalable and flexible solutions. For instance, in October 2022, according to the Department for Digital, Culture, Media and Sport of the United Kingdom, a UK-based government agency, the digital economy of the UK tech sector's annual gross value added (GVA) is expected to boost by an additional £41.5 billion ($51.3 billion) by 2025. Therefore, the growing significance of digitalization is driving the growth of the middle office outsourcing market.
Major companies operating in the Microsoft dynamics services market are focused on developing advanced accounts receivable (AR) automation software solutions to enhance efficiency and streamline financial processes. Accounts receivable (AR) automation software streamlines invoice processing, payment tracking, and collections management to optimize financial operations. For instance, in January 2024, Nuvei Corporation, a Canada-based payment technology company, launched enterprise resource planning (ERP) integration with Microsoft Dynamics 365. This integration allows businesses to seamlessly incorporate various payment methods, such as card payments, instant bank transfers, and ACH transactions, into their existing Dynamics 365 business central module. By leveraging Nuvei's expertise in ERP payments and accounts receivable automation, businesses in sectors such as manufacturing, distribution, wholesale, and construction can streamline their accounting workflows and improve back-office reconciliation processes.
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Major Key Players of the Market:
Samsung Group, Nestlé S.A, Bosch Group, PepsiCo Inc., Siemens AG, International Business Machines Corporation, Tata Consultancy Services Limited, Cap Gemini SA, Cognizant Technology Solutions Corporation, Infosys Technologies Private Limited, HCL Tecchnologies Limited, Wipro Limited, Avanade Inc, Hitachi Solutions Ltd, SA.gobal, Folio3, Calsoft Systems Inc., HexaCorp LLC, Sunrise Technologies Inc., ScienceSoft
Microsoft Dynamics Services Market 2024 Key Insights:
• The Microsoft dynamics services market size is expected to see rapid growth in the next few years. It will grow to $17.80 billion in 2028 at a compound annual growth rate (CAGR) of 17.8%.
• Empowering Digital Transformation Through Dynamic Solutions
• Advancements In Enterprise Resource Planning (ERP) Enhanced Business Efficiency
• Europe was the largest region in the Microsoft dynamics services market in 2023
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