New York, USA, Aug. 09, 2022 (GLOBE NEWSWIRE) -- According to the report published by Research Dive, the global cloud applications market is envisioned to generate a revenue of $437.9 billion and rise at a CAGR of 18.0% over the forecast period 2019-2026. The comprehensive report provides a brief overview of the current scenario of the market, including other aspects such as dynamics of the market, growth and restraining factors, challenges, and opportunities during the forecast period. The report also offers the market figures, which makes it easier and more beneficial for the new participants to understand the real-time scenario of the market.
Factors Impacting the CAGR Figures Pre and Post the COVID-19 Pandemic
According to the report, the market is predicted to grow at a CAGR of 18.0% during the forecast period, while it was anticipated to grow at a CAGR of 15.8% in the pre-pandemic scenario from 2019-2026. The increasing adoption of cloud applications across organizations during the pandemic period to help users interact with each other through mobile applications or web browsers has enhanced the demand for cloud-based processing solutions. Moreover, the cloud applications allow organizations to maintain and access huge data with less infrastructure cost which is predicted to foster the growth of the cloud applications market during the analysis period.
Factors Impacting the Cloud Applications Market Size Pre and Post the COVID-19 Pandemic
According to the report, the real-time market size reached a revenue of &165.1 billion in 2020, while its estimations were $158.4 billion in the pre-pandemic scenario. As many companies have provided work from facilities to their employees, this has resulted in a sudden rise in cloud computing during the pandemic period. Furthermore, many leading cloud service providers have started offering their cloud services as per their customer needs which are expected to uplift the growth of the cloud applications market during the estimated timeframe.
Post-Pandemic Insight
The growing acceptance of various cloud services based on specific requirements is expected to increase the rapid adoption of cloud applications across various organizations. Moreover, the leading market players are taking specific measures to meet the growing demand for cloud across many companies in the coming years is predicted to create huge growth opportunities for the market over the analysis period.
Key Players of the Cloud Applications Market
The major players of the cloud applications market include
- SAP
- Workday
- Oracle
- Adobe
- Salesforce
- IBM
- Microsoft Corporation
- Infor
- Sage Group, and many more.
These players are widely working on the development of new business strategies such as new product launches, mergers, and acquisitions, partnerships, and collaborations, following trending market ideas, building product portfolios, and business expansion. – Inquire here before buying the full report
For instance, in April 2020, Google LLC, an American multinational technology company, acquired D2iQ, Inc., a leading American technology company that develops software that simplifies Kubernetes lifecycle management, and deployment to hybrid, multi-cloud, and edge environments and enables advanced application use cases. With this acquisition, Google aimed to expand its Could Platform and G Suite services to compete with Amazon.
Furthermore, the report also presents other crucial aspects including the financial performance of the key players, SWOT analysis, product portfolio, and latest strategic developments.
More about Cloud Applications Market:
- Cloud Application: The New Way to Manage Work
- Implementation Of Cloud Applications In Retail And Consumer Goods During The Covid-19 Pandemic To Promote The Development Of Global Cloud Application Market
Implementation Of Cloud Applications In Retail And Consumer Goods During The Covid-19 Pandemic To Promote The Development Of Global Cloud Application Market
