The cloud applications market size has grown rapidly in recent years. It will grow from $275.09 billion in 2023 to $325.27 billion in 2024 at a compound annual growth rate (CAGR) of 18.2%. The growth seen in the past can be credited to the rising adoption of artificial intelligence and machine learning, the expansion of IoT devices and edge computing, the shift towards remote work and digital transformation, increasing dependence on cloud service providers, and the adoption of hybrid and multi-cloud strategies.
The cloud applications market size is expected to see rapid growth in the next few years. It will grow to $639.17 billion in 2028 at a compound annual growth rate (CAGR) of 18.4%. Anticipated growth in the forecast period can be attributed to scalability and cost-effectiveness, rapid deployment and shortened time-to-market, enhanced business productivity, global accessibility and collaboration, and increased digitalization. Key trends expected in this period include the integration of AI, ML, and IoT with cloud computing across various industries, innovation in products, strategic partnerships, expansion of AI and machine learning capabilities, and technological advancements.
The increasing adoption of DevOps toolchains is set to drive the growth of the cloud application market in the coming years. These toolchains, comprising integrated tools and processes integral to DevOps practices, automate and streamline software development, testing, deployment, and monitoring. They accelerate the software development lifecycle, enhancing the speed of cloud application development and release. By automating tasks from code integration to deployment, DevOps tools enable swift updates and deployments, reducing time-to-market and enhancing responsiveness to customer demands. This efficiency boosts the appeal of cloud applications to businesses. According to the 2022 State of Testing in DevOps Report by mabl, larger enterprises are significantly more likely to adopt full DevOps practices compared to medium-sized enterprises, with a notable increase in deployment frequency across organizations. Thus, the widespread adoption of DevOps toolchains is a key driver of cloud application market growth.
Leading companies in the cloud applications sector are innovating with advanced solutions such as cloud mesh to improve application-centric connectivity across hybrid and multi-cloud environments. Cloud mesh, an advanced networking architecture, facilitates seamless integration and communication between multiple cloud environments. For instance, IBM launched the IBM Hybrid Cloud Mesh in May 2023. This solution simplifies, scales, and secures application connectivity across hybrid and multi-cloud environments, addressing the challenge of isolating IT environments and accelerating application deployment and management. It aims to meet the rising demand for enhanced multi-cloud and hybrid-cloud connectivity, visibility, and governance.
In December 2021, Oracle, a US-based software company, completed the acquisition of Cerner for $28.3 billion. This strategic move is designed to enhance Oracle's standing in the healthcare technology sector and reinforce its cloud strategy by integrating Cerner's robust healthcare IT platform into its cloud offerings. Cerner, headquartered in the US, is renowned for its expertise in healthcare information technology solutions and services, particularly its flagship Millennium EHR platform, which provides comprehensive healthcare IT solutions.
Major companies operating in the cloud applications market are Google LLC, Microsoft Corporation, International Business Machines Corporation (IBM), Cisco Systems Inc., Salesforce.com Inc., SAP SE, Adobe Inc., Intuit Inc., ServiceNow Inc., OpenText Corporation, Workday Inc., Infor Global Solutions Inc., Citrix Systems Inc., The Sage Group plc, Zoho Corporation Pvt. Ltd., IFS AB (Industrial and Financial Systems), Epicor Software Corporation, Box Inc., Upland Software Inc., Tidip Technologies Ltd., Vultr Holdings Corporation, pCloud AG, Cloudflex Computing Services Limited.
North America was the largest region in the cloud application market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cloud applications market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the cloud applications market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Cloud applications are software applications accessed and utilized primarily via the internet, rather than being locally installed on a user's device. This allows users to access and use applications through web browsers or dedicated applications without the need for local software installation or management.
The primary players in the cloud applications market include small and medium-sized enterprises (SMEs) and large enterprises. SMEs are defined as businesses with revenues, assets, or a number of employees below a specific threshold. These applications encompass a wide range, including customer relationship management, enterprise resource management, human capital management, content management, collaboration and productivity suites, supply chain management, business intelligence and analytics, among others. They cater to various sectors such as banking, financial services, and insurance, energy and utilities, government and public sector, health and life sciences, manufacturing, retail and consumer goods, telecommunications, transportation and logistics, travel and hospitality, and more.
The cloud applications market research report is one of a series of new reports that provides cloud applications market statistics, including cloud applications industry global market size, regional shares, competitors with a cloud applications market share, detailed cloud applications market segments, market trends and opportunities, and any further data you may need to thrive in the cloud applications industry. This cloud applications market research report delivers a complete perspective on everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The cloud applications market includes revenues earned by entities through business intelligence and analytics, software-as-a-service, infrastructure-as-a-service, and data storage solutions. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
The cloud applications market size is expected to see rapid growth in the next few years. It will grow to $639.17 billion in 2028 at a compound annual growth rate (CAGR) of 18.4%. Anticipated growth in the forecast period can be attributed to scalability and cost-effectiveness, rapid deployment and shortened time-to-market, enhanced business productivity, global accessibility and collaboration, and increased digitalization. Key trends expected in this period include the integration of AI, ML, and IoT with cloud computing across various industries, innovation in products, strategic partnerships, expansion of AI and machine learning capabilities, and technological advancements.
The increasing adoption of DevOps toolchains is set to drive the growth of the cloud application market in the coming years. These toolchains, comprising integrated tools and processes integral to DevOps practices, automate and streamline software development, testing, deployment, and monitoring. They accelerate the software development lifecycle, enhancing the speed of cloud application development and release. By automating tasks from code integration to deployment, DevOps tools enable swift updates and deployments, reducing time-to-market and enhancing responsiveness to customer demands. This efficiency boosts the appeal of cloud applications to businesses. According to the 2022 State of Testing in DevOps Report by mabl, larger enterprises are significantly more likely to adopt full DevOps practices compared to medium-sized enterprises, with a notable increase in deployment frequency across organizations. Thus, the widespread adoption of DevOps toolchains is a key driver of cloud application market growth.
Leading companies in the cloud applications sector are innovating with advanced solutions such as cloud mesh to improve application-centric connectivity across hybrid and multi-cloud environments. Cloud mesh, an advanced networking architecture, facilitates seamless integration and communication between multiple cloud environments. For instance, IBM launched the IBM Hybrid Cloud Mesh in May 2023. This solution simplifies, scales, and secures application connectivity across hybrid and multi-cloud environments, addressing the challenge of isolating IT environments and accelerating application deployment and management. It aims to meet the rising demand for enhanced multi-cloud and hybrid-cloud connectivity, visibility, and governance.
In December 2021, Oracle, a US-based software company, completed the acquisition of Cerner for $28.3 billion. This strategic move is designed to enhance Oracle's standing in the healthcare technology sector and reinforce its cloud strategy by integrating Cerner's robust healthcare IT platform into its cloud offerings. Cerner, headquartered in the US, is renowned for its expertise in healthcare information technology solutions and services, particularly its flagship Millennium EHR platform, which provides comprehensive healthcare IT solutions.
Major companies operating in the cloud applications market are Google LLC, Microsoft Corporation, International Business Machines Corporation (IBM), Cisco Systems Inc., Salesforce.com Inc., SAP SE, Adobe Inc., Intuit Inc., ServiceNow Inc., OpenText Corporation, Workday Inc., Infor Global Solutions Inc., Citrix Systems Inc., The Sage Group plc, Zoho Corporation Pvt. Ltd., IFS AB (Industrial and Financial Systems), Epicor Software Corporation, Box Inc., Upland Software Inc., Tidip Technologies Ltd., Vultr Holdings Corporation, pCloud AG, Cloudflex Computing Services Limited.
North America was the largest region in the cloud application market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cloud applications market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the cloud applications market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Cloud applications are software applications accessed and utilized primarily via the internet, rather than being locally installed on a user's device. This allows users to access and use applications through web browsers or dedicated applications without the need for local software installation or management.
The primary players in the cloud applications market include small and medium-sized enterprises (SMEs) and large enterprises. SMEs are defined as businesses with revenues, assets, or a number of employees below a specific threshold. These applications encompass a wide range, including customer relationship management, enterprise resource management, human capital management, content management, collaboration and productivity suites, supply chain management, business intelligence and analytics, among others. They cater to various sectors such as banking, financial services, and insurance, energy and utilities, government and public sector, health and life sciences, manufacturing, retail and consumer goods, telecommunications, transportation and logistics, travel and hospitality, and more.
The cloud applications market research report is one of a series of new reports that provides cloud applications market statistics, including cloud applications industry global market size, regional shares, competitors with a cloud applications market share, detailed cloud applications market segments, market trends and opportunities, and any further data you may need to thrive in the cloud applications industry. This cloud applications market research report delivers a complete perspective on everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The cloud applications market includes revenues earned by entities through business intelligence and analytics, software-as-a-service, infrastructure-as-a-service, and data storage solutions. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
Table of Contents
1. Executive Summary2. Cloud Applications Market Characteristics3. Cloud Applications Market Trends and Strategies32. Global Cloud Applications Market Competitive Benchmarking33. Global Cloud Applications Market Competitive Dashboard34. Key Mergers and Acquisitions in the Cloud Applications Market
4. Cloud Applications Market - Macro Economic Scenario
5. Global Cloud Applications Market Size and Growth
6. Cloud Applications Market Segmentation
7. Cloud Applications Market Regional and Country Analysis
8. Asia-Pacific Cloud Applications Market
9. China Cloud Applications Market
10. India Cloud Applications Market
11. Japan Cloud Applications Market
12. Australia Cloud Applications Market
13. Indonesia Cloud Applications Market
14. South Korea Cloud Applications Market
15. Western Europe Cloud Applications Market
16. UK Cloud Applications Market
17. Germany Cloud Applications Market
18. France Cloud Applications Market
19. Italy Cloud Applications Market
20. Spain Cloud Applications Market
21. Eastern Europe Cloud Applications Market
22. Russia Cloud Applications Market
23. North America Cloud Applications Market
24. USA Cloud Applications Market
25. Canada Cloud Applications Market
26. South America Cloud Applications Market
27. Brazil Cloud Applications Market
28. Middle East Cloud Applications Market
29. Africa Cloud Applications Market
30. Cloud Applications Market Competitive Landscape and Company Profiles
31. Cloud Applications Market Other Major and Innovative Companies
35. Cloud Applications Market Future Outlook and Potential Analysis
36. Appendix
Executive Summary
Cloud Applications Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on cloud applications market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Reasons to Purchase:
- Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
- Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
- Assess the Russia - Ukraine war’s impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
- Measure the impact of high global inflation on market growth.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market shares.
- Benchmark performance against key competitors.
- Suitable for supporting your internal and external presentations with reliable high quality data and analysis
- Report will be updated with the latest data and delivered to you along with an Excel data sheet for easy data extraction and analysis.
- All data from the report will also be delivered in an excel dashboard format.
Description
Where is the largest and fastest growing market for cloud applications ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The cloud applications market global report answers all these questions and many more.The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
- The impact of higher inflation in many countries and the resulting spike in interest rates.
- The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope
Markets Covered:
1) By Organization: Small And Medium-Sized Enterprises; Large Enterprises2) By Applications: Customer Relationship Management; Enterprise Resource Management; Human Capital Management; Content Management; Collaboration And Productive Suites; Supply Chain Management; Business Intelligence And Analytics; Other Applications
3) By Verticals: Banking Financial Services And Insurance; Energy And Utilities; Government And Public Sector; Healthcare And Life Sciences; Manufacturing; Retail And Consumer Goods; Telecommunication; Transportation And Logistics; Travel And Hospitality; Other Verticals
Key Companies Mentioned: Google LLC; Microsoft Corporation; International Business Machines Corporation (IBM); Cisco Systems Inc.; Salesforce.com Inc.
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery Format: PDF, Word and Excel Data Dashboard.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 175 |
| Published | September 2024 |
| Forecast Period | 2024 - 2028 |
| Estimated Market Value ( USD | $ 325.27 Billion |
| Forecasted Market Value ( USD | $ 639.17 Billion |
| Compound Annual Growth Rate | 18.4% |
| Regions Covered | Global |
