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Global cloud applications market is expected to foresee significant growth. North America to showcase significant growth!

The global cloud applications market is expected to register a CAGR of around 16% over the period of 2021-2027. This is mainly due to the growing focus on delivering enhanced customer experience, increasing awareness of the benefits of the cloud and its imminent technologies among organizations, and growing demand for safe and secure backed-up remote work. Moreover, the flexibility and scalability offered by cloud applications followed by the customization delivered by cloud application service providers will positively stimulate the industry landscape. A cloud application is a software that runs processing logic and data storage between two different systems, client-side, and server-side. Some processing is done on the end user’s local hardware and some take place on a remote server.

Based on the organization size, the market is segmented into large enterprises and SMEs. Among these, the large enterprises held a prominent share of the cloud applications market in 2020 and are expected to witness substantial growth during the forecast period owing to the low cost of operation, improved collaboration, increased flexibility, and other features provided by cloud applications.

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On the basis of application, the market is categorized into enterprise resource planning (ERP), customer relationship management (CRM), human capital management (HCM), supply chain management (SCM), content management, and business intelligence (BI) and analytics. The SCM segment captured a noteworthy share of the global cloud applications market in 2020 and is anticipated to witness strong growth during the forecast period. The growth of this segment can be attributed to the adoption of cloud SCM among SMEs and large enterprises.

For a better understanding of the market adoption of cloud applications, the market is analyzed based on its worldwide presence in the countries such as North America (US, Canada, Rest of North America), Europe (Germany, France, Spain, UK, Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Rest of Asia-Pacific), Rest of World. North America accounted for a prominent share of the global cloud application market and is expected to grow at a significant growth rate during the forecast period owing to the quick adoption of cloud-based technologies along with the increasing number of large, medium, and small enterprises shifting towards cloud applications. In addition, the enterprises operating in North America realized the benefit of using cloud services at an earlier stage.

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Some of the major players operating in the electric vehicle semiconductor market are Microsoft Corporation, Salesforce Inc., Oracle Corporation, SAP SE, Google LLC, Workday Inc., Adobe Inc., Sage Group plc, Intuit Inc., and Cisco Systems Inc.

Global Cloud Applications Market Segmentation

Market Insight, by Organization Size

  • Large Enterprises
  • SMEs

Market Insight, by Application

  • Enterprise Resource Planning (ERP)
  • Customer Relationship Management (CRM)
  • Human Capital Management (HCM)
  • Supply chain Management (SCM)
  • Content Management
  • Business Intelligence (BI) and Analytics

Market Insight, by Industry

  • Banking and Financial Services
  • Healthcare
  • Information and Communication Technology
  • Government
  • Consumer Goods and Retail
  • Media and Entertainment
  • Others

Market Insight, by Region

  • North America
    •  US
    •  Canada
    •  Rest of North America
  • Europe
    • Germany
    • France
    • Spain
    • UK
    • Rest of Europe
  • Asia-Pacific
    • China
    •  Japan
    •  India
    •  South Korea
    •  Rest of Asia-Pacific
  • Rest of the World

Top Company Profiles

  • Microsoft Corporation
    • Salesforce Inc.
    • Oracle Corporation
    • SAP SE
    • Google LLC
    • Workday Inc.
    • Adobe Inc.
    • Sage Group plc
    • Intuit Inc.
    • Cisco Systems Inc.

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