Cloud Applications Market to show Impressive Growth Rate between 2016 – 2024
United States, 16 March 2017 -- Cloud applications are the software and tools that are given to the customers by the providers in terms of Software-as-a-Service (SaaS).
Zion Market Research, the market research group announced the analysis report titled 'Cloud Applications Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2016–2024'
Global Cloud Applications Market: Overview
Cloud applications are the software and tools that are given to the customers by the providers in terms of Software-as-a-Service (SaaS). The organizations use these applications without downloading them or updating, or maintaining any types of server and under paid-subscription. It gives benefits such as accessibility at any point in time and at any place.
The global cloud applications market is anticipated to witness high growth in the near future. The growing awareness about the advantages of the cloud applications is the main reason for the growth of the global market. In addition to this, increased used of cloud service among the companies is also one of the main reasons driving the global cloud applications market. Increased use of advanced technology in cloud applications is also one significant factor that is boosting the global market. Additionally, the low cost of maintenance is also one factor that is elevating the global cloud applications market.
On the other hand, the high cost of the ownership of cloud applications tools is restraining the global market. In addition to this, the high cost of raw materials is also hindering the global cloud applications market. Moreover, high cost for transportation is the main reason that is hampering the global market to some extent.
Based on types, the global cloud applications market is mainly classified as customer relationship management, analytics, collaboration, content management, human capital management, e-commerce, project and portfolio management, enterprise resource planning, legal and risk management, procurement and distribution, finance and accounting, and other industry specific applications.
On the basis of end users, the global market is segmented into medium and small businesses enterprises and large enterprises
Based on verticals, the global cloud applications market is mainly classified as media and entertainment, banking, financial services, and insurance (BFSI), oil and gas, education, discrete manufacturing, government, healthcare and life sciences, manufacturing, telecommunication and IT, retail and wholesale, and others.
Global Cloud Applications Market: Regional Analysis
Regionally, the global cloud applications market is segmented into Asia-Pacific, Europe, North America, and Rest of the World. India and China are likely to drive the global cloud applications market in future due to increased job opportunities. Increased used of cloud service among the companies will boost the global market in North America. The Rest of the World will show a moderate growth in the global market in the near future.
Global Cloud Applications Market: Competitive Players
The local, as well as global players, have acquired the global market. Key players in the global market for cloud applications are IBM, Salesforce.com, Workday Inc, SAP AG, NetSuite Inc, Cisco, Adobe, Ultimate software group, Microsoft, and others.
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