Cloud applications are growing rapidly as businesses increasingly embrace digital transformation, enhancing operational efficiency, scalability, and flexibility.
Pune, Feb. 11, 2025 (GLOBE NEWSWIRE) — Cloud Applications Market Size Analysis:
“The SNS Insider report indicates that the
Major Players Analysis Listed in this Report are:
- Salesforce, Inc. – San Francisco, California, USA
- Microsoft Corporation – Redmond, Washington, USA
- Oracle Corporation – Redwood Shores, California, USA
- SAP SE – Walldorf, Germany
- Adobe Inc. – San Jose, California, USA
- Google Cloud – Mountain View, California, USA
- Amazon Web Services (AWS) – Seattle, Washington, USA
- IBM Corporation – Armonk, New York, USA
- ServiceNow – Santa Clara, California, USA
- Workday, Inc. – Pleasanton, California, USA
- Zoho Corporation – Chennai, India
- HubSpot, Inc. – Cambridge, Massachusetts, USA
- Atlassian – Sydney, Australia
- RingCentral, Inc. – Belmont, California, USA
- Freshworks – San Mateo, California, USA
Cloud Applications Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | USD 468.9 Billion |
| Market Size by 2032 | USD 2230.4 Billion |
| CAGR | CAGR of 18.94% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Key Regional Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe [Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]). Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
| Key Growth Drivers | • Businesses are rapidly shifting to cloud-based solutions to enhance efficiency, agility, and scalability.
• AI-driven analytics, automation, and predictive maintenance improve operational efficiency and decision-making. |
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Cloud Applications by Application: Dominance of CRM and the Rapid Growth of Business Intelligence & Analytics
In 2023 Customer Relationship Management segment dominated the market and represented a significant revenue share. The CRM system plays a vital role in the above scenario as it helps to manage all the customer information and interactions. Cloud-based CRM-using applications enable businesses with improved customer service, sales process management, and marketing services that are accessible anywhere, anytime. Such accessibility is particularly useful in remote and hybrid setups, where access to real-time customer data across departments is crucial.
The Business Intelligence and Analytics market is expected to exhibit the fastest compound annual growth rate during the forecast period. This explosive growth is fueled by the need for data-driven insights across industries. More organizations are realizing the need to invest in cloud-based and analytics solutions to get visualized and on-time information for operational efficiency and to stay ahead of the competition.
Cloud Applications by Organization Size: Dominance of Large Enterprises and Rapid Growth in SMEs
The Large enterprise segment dominated the market and represented a revenue share of more than 71% in 2023. For example, large enterprises come with huge budgets, resources, and a lot of infrastructure to support the adoption of the most advanced cloud solutions on a large scale. Cloud-based applications help them manage complex operations, increase productivity, and ensure decision-making in multiple departments is grounded in data. Cloud apps like CRM, ERP, and BI tools are critical for large enterprises that need to cope with massive amounts of data, optimize the supply chain, improve customer engagement, and innovate new products to keep pace with the market.
The cloud applications market is expected to grow at the fastest rate in the SME segment. Cloud-based solutions are more affordable, and scalable, and provide access to enterprise-grade tools without the heavy upfront investment that has made them so appealing to SMEs. SMEs can make use of Cloud applications to ease business processes and improve customer relationship management and data statistics that were either costly or not feasible by larger organizations.
Cloud Applications Market Segmentation:
By Applications
- Customer Relationship Management (CRM)
- Enterprise Resource Management (ERM)
- Human Capital Management (HCM)
- Content Management
- Collaboration and Productive Suites
- Supply Chain Management (SCM)
- Business Intelligence (BI) and Analytics
- Others
By Organization Size
- Large Enterprise
- SMEs
By Vertical
- Banking, Financial Services, and Insurance (BFSI)
- Energy and Utilities
- Government and Public Sector
- Healthcare and Life Sciences
- Manufacturing
- Retail and Consumer Goods
- Telecommunications
- Transportation and Logistics
- Travel and Hospitality
- Others
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Regional Landscape of Cloud Applications: North America’s Dominance and Asia-Pacific’s Rapid Growth
North America dominated the market and accounted for a revenue share of more than 36% in 2023. The leadership is due to the higher cloud adaptation in the region as an outcome of the increase in the different sectors or industries such as college, finance, medical, and store. Reassured IT infrastructure and well-established cloud ecosystems with a major supply of topmost cloud service providers strengthen innovation and scalability in North America.
The cloud applications market is witnessing strong growth in the Asia-Pacific region, which is anticipated to dominate the cloud applications market in the foreseen period registering the fastest CAGR. Countries such as China, India, and Japan have been undergoing an unprecedented digital transformation that is fueling the demand for cloud-driven solutions. Significant growth factors include increased investments in cloud infrastructure, the growth of Small and Medium-sized enterprises, and government initiatives encouraging the adoption of cloud services.
Cloud Solutions Innovation: AWS’s Cost Reduction Initiative and Oracle’s New Enterprise Offerings
In March 2024, Amazon Web Services introduced a cost reduction initiative, providing scalable cloud solutions with greater affordability for businesses across industries.
In February 2024, Oracle Corporation unveiled a suite of new cloud-based enterprise solutions, aimed at streamlining business operations with enhanced data analytics and security features.
Table of Contents – Major Key Points
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
6. Competitive Landscape
7. Cloud Applications Market Segmentation, By Application
8. Cloud Applications Market Segmentation, by Organization Size
9. Cloud Applications Market Segmentation, by Verticals
10. Regional Analysis
11. Company Profiles
12. Use Cases and Best Practices
13. Conclusion
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The post Cloud Applications Market to USD 2230.4 Billion by 2032, Owing to Increased Cloud Adoption and Digital Transformation | Research by SNS Insider first appeared on CXP – Customer Experience Asia.