What is Cloud Based Software Market Scope?
Cloud Based Software are applications or advanced collection of computer instructions deployed on cloud network instead of traditional on premise deployment. The major cloud based software includes SaaS, FaaS, IaaS, and Paas. This recent surge in cloud based software has also been accelerated due to recent pandemic, when many businesses were pushed to adopt work from home strategy, thus pushing the adoption of cloud computing solutions around the world. Based on cloud deployment models, the market can be segmented into public clouds, private clouds and hybrid cloud mechanism. The market of cloud based software although faces a major concern of cyber threats. Besides that, the market has huge prospectus with SMEs being largest untapped high potential consumers. Geographically, North America is the largest market of Cloud based software market.
The Cloud Based Software market study is being classified by Type (IaaS, PaaS, SaaS, FaaS and Others) and major geographies with country level break-up.
Analysts at AMA predicts that Players from United States will contribute to the maximum growth of Global Cloud Based Software market throughout the predicted period.
Amazon Web Services, Inc. (United States), Cisco System, Inc. (United States), IBM Corporation (United States), Google LLC (United States), Microsoft Corporation (United States), Alibaba Cloud (China), Dell Technologies Inc. (United States), HP Enterprise (United States), Oracle Corporation (United States) and SAP (Germany) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Workday (United States), Rackspace Technology, Inc. (United States) and Accenture Plc (Ireland).
Segmentation Analysis
Analyst at AMA have segmented the market study of Global Cloud Based Software market by Type, Application and Region.
On the basis of geography, the market of Cloud Based Software has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Influencers and their development strategies
In 2021, Accenture PLC, an Irish Multinational consultancy and IT firm has announced completion of acquisition of Cygni. The Swedish firm Cygni offers software developmental services and other advanced technical solutions to business planning to adopt cloud computing solutions. The acquisition will expand Accenture’s cloud computing business by adding advanced capabilities to the firms existing cloud business.
Influencing Market Trend
- SaaS Accounts for Largest Market Share
Market Drivers
- Large Scale Adoption of Cloud Computing Solutions
- Increased Internet Penetration and Services Offered
Opportunities
- SMEs are Largely Untapped Market with Huge Potential to Grow
Restraints
- Rising Incidents of Cyber Attacks
Challenges
- Poor Telco and IT Infrastructure in Smaller Developing Countries
Key Target Audience
Cloud Based Software Providers, New Entrants/Investors, Venture Capitalists and Private Equity Firms, Analysts and Strategic Business Planners, End-Use Industries and Others
Customization available in this Study:
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