- The Global SAP Cloud Platform Services Market to Garner USD 443 Million in 2022
- The latest research report by Fact.MR provides detailed information on key factors affecting growth in the SAP Cloud Platform Services Market. It presents valuable insights on analysis of the different segments of the SAP cloud platform services market. For the purpose of study, the market has been segmented in terms of By Service Type, Enterprise Size and By End Use Industry.
NEW YORK, Jan. 27, 2022 /PRNewswire/ -- Fact.MR - A Market Research and Competitive Intelligence Provider:?The global SAP cloud platform services market is estimated at USD 443 Million in 2022 and is forecast to reach USD 7,000 Million by 2032, growing at an exciting CAGR of 31% during 2022-2032. The global SAP cloud platform services market is estimated to have an absolute $ opportunity of USD 6,200 Million during the assessment period of 2022-2032.
As the number on the cloud platform is increasing, customers are facings issues while managing applications, integrating, workload and various other facets in the space of cloud computing. To resolve cloud challenges like these, vendors such as SAP SE created advanced cloud platform services which provides features such as simplified process control and enhanced workload management.
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Cloud based applications which is leading to business efficiency as there is increase in acceptance of SAP cloud platform services and business agility by verticals which are creating demand. Hence, driving the global SAP Cloud platform services market growth towards an impressive CAGR over the forecast period of 2022-2032.
Global SAP cloud platform services market has generated USD 340 Million in last half-decade (2017-2021) growing at a CAGR of approximately 27%. It is projected to witness a growth of 31% CAGR and generate an absolute dollar opportunity of around USD 6.2 Billion during the 2022 & 2031.
Organizations across the globe are widely adopting SAP cloud platform as their application tools in order to increase business efficiency processes and to enhance their application development by offering agile and integrated application. Small and medium scale enterprises are widely adopting cloud platform to transform and innovate their businesses by adopting integrated enterprise application development.
COVID-19 pandemic has boosted the sales of cloud platform services in Latin America. Research tells us that ration of the investment increased in the cloud computing is nearly 39%. Furthermore, around 68% of firms, surveyed in the IDC Latin America information technology investment trends 2021, are looking to increase the productivity by 2022 by retaining customer (41%), reducing costs (50%), and launching new products and services (36%).
Report Attributes | Details |
Market Size Value in 2021A | USD 340 Million |
Market Value Estimated in 2022E | USD 443 Million |
Market Value Forecast in 2032F | USD 7,000 Million |
Global Growth Rate (2022-2032) | CAGR 31% |
Key Takeaways:?
- North America SAP cloud platform services market is expected to have a revenue share of 31.4% in 2022.
· SAP cloud platform services sales are anticipated to multiply by factor of 1.3X during 2021-2022.
- The migration services as service type are expected to be valued at USD 1.5 Billion by 2032 with a growth rate of 31.1%.
- The Europe region is presumed to hold market value of around USD 118 Million by the end of 2022 owing to high technology adoption rate.
Growth Drivers:
- Organizations across the globe are widely adopting SAP cloud platform as their application tools in order to increase business efficiency processes and to enhance their application development by offering agile and integrated application.
- Rising small and large scale enterprises adopting SAP cloud platform services to enhance their business performance is expected to propel the demand for SAP cloud platform services.
Key Restraints:
- High cost of SAP cloud platform services makes it difficult for small and medium-size organizations to deploy such technologies that require high investment in services thus, hampering the growth of market.
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Competitive Landscape
Key manufacturers are constantly innovating product designs to meet the modern-day challenges pertaining to components placement in the engine environment.
- SAP SE launched software and service package called "Rise with SAP", a new collection of service and software which helps as an assistance to the customers with cloud migration and digital transformation initiatives.
- Accenture acquired Edenhouse, an on-premises and SAP cloud software consulting partner in the UK. This acquisition will help the Accenture to expand the SAP services in UK Market.
Key Companies Profiled:
- SAP SE
- Accenture Plc.
- Wipro Limited
- Infosys Limited
- Capgemini SE
- Atos SE
- DXC Technology
- HCL Technologies
- Cognizant Technology Solutions Corp.
- Tata Consultancy Services Limited
More Valuable Insights into the SAP Cloud Platform Services Market:
Fact.MR provides an unbiased analysis of the SAP Cloud Platform Services Market, presenting?forecast statistics for the period from 2022-2032. The study divulges compelling insights on the global SAP Cloud Platform Services Market a detailed segmentation on the basis of:
· By Service Type:
- Strategy & Consulting Services
- Proof of Concept (PoC) Services
- Migration Services
- Integration Services
- System Conversion Services
· By Enterprise Size:
- Small and Medium Scale Enterprises
- Large Scale Enterprises
· By End Use Industry:
- BFSI Industry
- Consumer Goods & Retail Industry
- Energy & Utility Industry
- Government Industry
- Media & Entertainment Industry
- IT & Telecom Industry
- Manufacturing Industry
- Healthcare Industry
- Others
Key Questions Covered in?The SAP cloud platform services market Report:
- The report offers insight into the?SAP Cloud Platform Services Market for 2022-2032.?
- The market study also highlights projected sales growth for?SAP Cloud Platform Services Market between 2022 and 2032.?
- SAP Cloud Platform Services Market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry.??
- SAP Cloud Platform Services Market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others.
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