SAP (Germany) and Microsoft (US) are Leading Players in the Cloud Applications Market
MarketsandMarkets expects the cloud applications market to grow from USD 171 billion in 2020 to USD 356 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 15.8% during the forecast period. The growing number of investments in digitization and awareness of benefits such as scalability, agility, and cost-effectiveness are expected to spur the demand for cloud applications across the globe.
Major cloud applications vendors include Microsoft (US), Salesforce (US), Oracle (US), SAP (Germany), Google (US), Workday (US), Adobe (US), IBM (US), Infor (US), Sage Group (UK), Intuit (US), Epicor (US), IFS (Sweden), ServiceNow (US), OpenText (US), Cisco (US), Box (US), Zoho (US), Citrix (US), LogMeIn (US), and Upland Software (US). These players have adopted various growth strategies, such as new product launches, partnerships, business expansions, agreements, and acquisitions, to further expand their presence in the cloud applications market. These strategies have helped them innovate their offerings and broaden their customer base.
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SAP (Germany) is focused on becoming the most innovative cloud company, due to its solution SAP HANA, which enables customers to innovate faster and drive effective and successful business outputs. The company believes in continuously investing a huge amount of its revenue in Research and Development (R&D) activities, and offers enhanced products and services for enabling customers to meet their business goals. For instance, in October 2018, SAP added new services and cloud choices to its SAP Cloud platform. These services enable customers to easily connect their demand chains to their supply chains, adhere to new privacy and security regulations, and provide an enhanced cloud environment for business-critical applications. The company further focuses on delivering intelligent enterprises to customers by providing enterprise software with the visibility, focus, and agility required for accelerated change. For instance, in September 2018, SAP launched a cloud-based Application Lifecycle Management (ALM) tool, known as the SAP Cloud ALM solution. This solution helps customers track and manage the need for cloud solutions from SAP. It offers benefits, such as quick team onboarding and scoping, following a fit-to-standard implementation approach, configuring for SAP S/4HANA Cloud, and tracking project progress. These initiatives showcase innovative and proactive approaches of SAP to maintain a leading position in the market.
Microsoft (US) is one of the leading cloud service providers across the globe. Majorly, the company’s hybrid cloud offering is widely adopted by customers across the globe. It focuses on offering tailored cloud services to customers with the help of the partnership strategy to become an exclusive vendor in the market. In November 2019, Microsoft and Salesforce expanded partnership to help customers meet the evolving needs of businesses and boost team productivity. Salesforce named Microsoft Azure as its public cloud provider for Salesforce Marketing Cloud. With this partnership, Salesforce moved its Marketing Cloud to Azure to unlock new growth opportunities for end users. The company invests a substantial part of its annual revenue in R&D to enhance and upgrade its products and services in market. It has expanded its presence in the region by establishing large data centers to better address cloud computing needs of the enterprises in this region. It has partnered with different local players to offers its services in different countries. For instance, in February 2020, Microsoft expanded its presence in Spain with the help of its existing partner Telefonica to accelerate digital transformation across enterprises of different size. The move is expected to benefit mutual customers of Microsoft and Telefonica as customers can leverage cloud offerings quickly, securely, and easily and scale operations to create new business opportunities.
Related Reports:
Cloud Applications Market by Application (ERP, CRM, HCM, SCM, Content Management, BI and Analytics), Organization Size, Vertical (BFSI, Manufacturing, Government & Public Sector, and Telecommunications), and Region Global Forecast to 2025
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