Product ID: SQMIG45A2319
Cloud Enterprise Application Software Market Size, Share, Growth Analysis, By Solution(Customer Relationship Management (CRM), Enterprise Resource Planning (ERP)), By Industry Vertical(Manufacturing & Services, Banking) - Industry Forecast 2024-2031
Report ID:
SQMIG45A2319 |
Region:
Global |
Published Date: May, 2024
Pages:
195
|
Tables:
76 |
Figures:
68
Cloud Enterprise Application Software Market Insights
Global Cloud Enterprise Application Software Market size was valued at USD 116.5 billion in 2022 and is poised to grow from USD 134.09 billion in 2023 to USD 413.05 billion by 2031, growing at a CAGR of 15.1% in the forecast period (2024-2031).
An enterprise application software based on cloud platform is known as cloud enterprise application software. Marketing, data entry, HR, and payroll are some key enterprise resources that are automated using cloud enterprise application software. Rising popularity of cloud platforms and growing demand for cloud computing services are projected to bolster cloud enterprise application software market development over the coming years. Launch of several new digital transformation initiatives and increasing emphasis on improving business agility and operational efficiency are also slated to boost sales of cloud enterprise application software going forward. Rising adoption of automation in different organizations across several industry verticals is also estimated to favor the demand for cloud enterprise application software in the future. Integration challenges and data privacy concerns are estimated to slow down cloud enterprise application software market growth across the forecast period and beyond.
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Cloud Enterprise Application Software Market Segmental Analysis
The global cloud enterprise application software market is segmented based on solution, industry vertical, and region. In terms of solution, the market is bifurcated 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, the market is divided into manufacturing & services, banking, financial services, and insurance (BFSI), healthcare, retail, government, oil & gas, telecom, and others. Based on region, the market is segmented into Asia Pacific, North America, Latin America, Europe, and the Middle East and Africa.
Analysis by Solution
Enterprise resource planning (ERP) is projected to account for a significant share of the global cloud enterprise application software market at present. Growing awareness regarding benefits of ERP deployment in businesses and increasing emphasis on optimal use of resources are key factors allowing this segment to dominate the market.
The demand for customer relationship management (CRM) is projected to increase at a rapid pace over the coming years. Growing need to build meaningful customer relationships to promote brand loyalty is slated to promote the adoption of CRM software in the future. Adoption of a customer-centric approach from all businesses is also slated to promote cloud enterprise application software market growth via this segment in the long run.
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Cloud Enterprise Application Software Market Regional Insights
North America is forecasted to account for a substantial share of the global cloud enterprise application software market. Rapid adoption of advanced cloud technologies and platforms is the key factor promoting cloud enterprise application software demand in this region. The United States is estimated to spearhead cloud enterprise application software market growth in this region going forward followed by Canada. The presence of many enterprises inclined to invest in cloud enterprise application software is also a key prospect that allows this region to maintain its dominant stance.
Growing adoption cloud technology by enterprises and rising digitization allow the Asia Pacific region to emerge as the fastest-expanding market in the world. The rising popularity of ERP in SMEs and large enterprises in this region will influentially drive the demand for cloud enterprise application software going forward. Rising availability of cloud-based enterprise applications and high investments in the development of new cloud infrastructure are also slated to promote market growth. China, India, and Japan are slated to be the leading markets for cloud enterprise application software companies in this region.
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Cloud Enterprise Application Software Market Dynamics
Drivers
Rise of Cloud Computing
- Growing acceptance of cloud computing solutions around the world and rising use of cloud platforms in enterprises are forecasted to bolster the demand for cloud enterprise application software in the future.
Emphasis on Business Agility
- Deployment of cloud enterprise application software solutions helps businesses improve their agility by offering meaningful insights, enhanced resource management, and better customer service. All these factors improve business agility and promote cloud enterprise application software adoption.
Restraints
Data Privacy Issues
- Cloud enterprise application software handles and works with critical business data that also includes vital customer information and financial information as well. Ensuring privacy of this data is maintained is the key concern for businesses and this is why cloud enterprise application software providers should provide solutions that meet this standard.
Integration Issues
- Integrating cloud enterprise application software with legacy infrastructure could be very challenging and resource-intensive, which could easily outweigh the benefits of cloud enterprise application software deployment. Hence these integration complications will slow down market development.
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Cloud Enterprise Application Software Market Competitive Landscape
Cloud enterprise application software companies can utilize strategies such as acquisitions, mergers, and collaborations to expand their business scope and boost revenue generation in the future. Cloud enterprise application software market players can also focus on developing industry-specific solutions to stand out from the competition and gain a competitive edge over other companies.
Top Player’s Company Profiles
- Tibco software Inc.
- IBM Corporation
- Fujitsu Ltd.
- IFS AB
- Microsoft Corporation
- Hewlett Packard Enterprise (HPE) Company
- Infor Inc.
- Accruent LLC (Fortive Corporation)
- QAD Inc.
- Epicor Software Corporation
Recent Developments
- In November 2023, SAP SE, a leading software and technology company based in Germany, announced the launch of SAP Hong Kong Cloud ERP Experience Center. This was expected to help SMEs optimize their operations through embedded business intelligence and enterprise resource planning services.
- In March 2023, NVIDIA, a leading technology company known for its advanced GPUs, announced the launch of NVIDIA DGX Cloud. This new solution offers enterprises access to AI supercomputers from a mere browser.
Cloud Enterprise Application Software Key Market Trends
- Integration with Artificial Intelligence: Cloud enterprise application software providers should focus on integrating AI with their products to improve thier efficiency and make their products future-proof. Cloud enterprise application software companies can utilize AI to streamline their business models and boost revenue generation.
Cloud Enterprise Application Software Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per Skyquest analysis, growing use of cloud technology and increasing emphasis on improving business agility are key factors driving the demand for cloud enterprise application software. On the contrary, challenges regarding integration and data privacy concerns are estimated to slow down cloud enterprise application software adoption in the future. North America is projected to lead the demand for cloud enterprise application software across the world owing to rapid adoption of cloud-based platforms and technologies. Cloud enterprise application software market players should focus on integrating their products with AI to stay relevant in the long run.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 116.5 billion |
| Market size value in 2031 | USD 413.05 billion |
| Growth Rate | 15.1% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Cloud Enterprise Application Software Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Cloud Enterprise Application Software Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Cloud Enterprise Application Software Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Cloud Enterprise Application Software Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Cloud Enterprise Application Software Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Cloud Enterprise Application Software Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Cloud Enterprise Application Software Market Report Snapshots
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