New York, USA, July 06, 2021 (GLOBE NEWSWIRE) -- The new research report on the global cloud applications market by Research Dive reveals the impact of COVID-19 pandemic on the present and future perspective of the market. This report is a comprehensive research articulated by market analysts by analyzing top driving factors, growth opportunities, competitive landscape, regional market circumstances, and size & scope of the market in the crisis.
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Highlights of the Report
The rise of the COVID-19 pandemic has made positive impact on the global cloud applications market.
The market size in the present scenario has stretched up to 165.1 billion. However, before the outburst of the pandemic, the market was estimated to garner 158.4 billion in 2020. The market is experiencing a significant rise in revenue owing to greater adoption of cloud services amidst the pandemic period.
Check out How COVID-19 impacts the Global Cloud Applications Market: https://www.researchdive.com/connect-to-analyst/193
Factors Impacting the Market Growth during COVID-19 Pandemic
The global cloud applications market is projected to experience significant rise in growth due to growing demand for cloud applications, as several organizations have switched to work from home culture during the pandemic period. A significant rise in the adoption rate of cloud computing services has been observed since the implementation of lockdown in various regions. However, cloud service providers are experiencing numerous difficulties in fulfilling the augmented demand for cloud services.
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Cloud application market players, such as Google, UKCloud, and Microsoft, have lately revealed about their efforts taken to cater the rising demand for cloud services from their customers. In an effort to meet the surging demand, they have issued continuity plans, and are scrutinizing system competences. They are also allocating additional resources to areas where there is a massive demand for cloud services. All these factors are expected to fuel the market growth in the upcoming years.
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Future Scope of the Market:
The global cloud applications market is projected to continue to grow in the coming years due to an upsurge in the technological advancements and widespread adoption of cloud applications by various companies across the world. Integration of cloud platforms in various organizations is likely to unlock lucrative opportunities for the market growth in the near future. Moreover, strategic initiatives undertaken by key market players are estimated to propel the market growth.
For instance:
• In April 2021, NxtGen, a foremost cloud technologies and datacenter provider in India with prevailing Enterprise Cloud Services (ECS) operations, launched its new public cloud computing platform SpeedCloud™ with an aim to simplify and fortify the implementation of opensource technologies in the country.
• In April 2021, Genesys, a cloud customer experience and contact center solution provider, has planed to launch novel capabilities for Genesys Cloud in India by allowing businesses to keep their communications and data located within the nation.
Top 10 major key players in the Cloud Application Market:
1. Microsoft Corporation
2. Salesforce
3. Oracle
4. SAP
5. Google
6. Workday
7. Adobe
8. IBM
9. Infor
10. Sage Group
According to the report, the global cloud applications market is anticipated to experience considerable growth even after the coronavirus pandemic relaxes. New players and some of the major players including IBM, Infor, Microsoft Corporation, Adobe, Salesforce, Oracle, SAP, Google, Workday, Sage Group, and others are projected to invest in novel advances to meet the growing demand for cloud applications across the world. All these aspects are expected to fuel the market growth in the forthcoming years.
The report offers many strategies and ideas of the top industry players functioning in the industry such as the current strategic plans & developments, financial performance, SWOT analysis, and product/service range. Click Here to Get Absolute Top Companies Development Strategies Summary Report.
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