Global Cloud Enterprise Application Software Market

Cloud Enterprise Application Software Market Size, Share, Growth Analysis, By Solution(Customer Relationship Management (CRM), Enterprise Resource Planning (ERP), Supply Chain Management (SCM), Web Conferencing), By Industry Vertical(Manufacturing & Services, Banking, Financial Services, and Insurance (BFSI)), By Region - Industry Forecast 2024-2031

Report ID: SQMIG45A2319 | Region: Global | Published Date: May, 2024
Pages: 195 | Tables: 76 | Figures: 68

Cloud Enterprise Application Software Market News

  • 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.
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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).

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. 'Oracle Corporation', 'Salesforce Inc.', 'Tibco software Inc.', 'IBM Corporation', 'SAP SE', 'Fujitsu Ltd.', 'IFS AB', 'Microsoft Corporation', 'Hewlett Packard Enterprise (HPE) Company', 'Infor Inc.', 'Accruent LLC (Fortive Corporation)', 'QAD Inc.', 'Epicor Software Corporation'

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.

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.

North America is forecasted to account for a substantial share of the 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.

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Global Cloud Enterprise Application Software Market

Report ID: SQMIG45A2319

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