BANGALORE, India, July 2, 2020 /PRNewswire/ -- Global Cloud Applications market size is projected to reach USD 365.00 Billion by 2026, from USD 147.12 Billion in 2020, at a CAGR of 16.35% during 2020-2026.
The scalability and flexibility of cloud applications, together with the customization provided by various cloud service providers, help businesses to adopt cloud applications. Cloud applications help reduce the cost of installing IT hardware and infrastructure and help companies concentrate on their core businesses. These advantages are expected to accelerate cloud application adoption during the forecast period.
The report offers an exhaustive geographical analysis of the global Cloud Applications market, covering important regions, viz, North America, Europe, China, Japan, Southeast Asia, India, and Central & South America. The report includes a country-wise and region-wise market size for the period 2015-2026. It also includes market size and forecast by each application segment in terms of revenue for the period 2015-2026.
This report also analyses the impact of Coronavirus COVID-19 on the Cloud Applications industry.
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TRENDS INFLUENCING THE CLOUD APPLICATION MARKET SIZE
CLOUD APPLICATION MARKET SHARE
On the basis of the application, the cloud Supply Chain Management (SCM) segment is expected to witness the highest growth rate during the forecast period. This is due to the growing acceptance among small and medium-sized enterprises as well as large enterprises in order to ensure enhanced business processes. For example, Cloud SCM applications provide businesses with real-time access to enterprise data, which facilitates rapid decision-making and enhanced business processes.
Based on the region, the North American region is expected to dominate the Cloud application market share during the forecast period. North America is one of the leading investors in IT technology. The presence of major economies in the region, such as the US and Canada, is expected to contribute to the growth of the cloud application market.
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CLOUD APPLICATION MARKET SEGMENTATION
Cloud Applications Breakdown Data by Type
Cloud Applications Breakdown Data by Application
The following players are covered in this report:
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The cloud PLM solutions help in enhancing the communication between manufacturers and suppliers and offer more organized results for the development of a product.
The report offers an exhaustive geographical analysis of the global Cloud-Based PLM market, covering important regions, viz, North America, Europe, China, Japan, Southeast Asia, India, and Central & South America.
The report includes a country-wise and region-wise market size for the period 2015-2026. It also includes market size and forecast by each application segment in terms of revenue for the period 2015-2026.
Cloud-based training software is an application that delivers, tracks, and manages all online and instructor-led training programs on the cloud.
One of the major factors that are expected to increase the Cloud-based Training Software Market size is the increased need to improve employee value. Effective training can be used to improve the value of employees.
The global SaaS market size is projected to reach USD 307.3 Billion by 2026, from USD 158.2 Billion in 2020, at a CAGR of 11.7% during 2020-2026.
An increasing number of infrastructures and established networks have forced organizations to pursue scalable and flexible solutions, such as SaaS. This, in turn, has helped in the growth of SaaS market size.
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