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Cloud Enterprise Application Software Market Report by Solution (Customer Relationship Management (CRM), Enterprise Resource Planning (ERP), Supply Chain Management (SCM), Web Conferencing, Business Intelligence (BI), Business Process Management (BPM), Content Management System (CMS), Enterprise Asset Management (EAM), and Others), Industry Vertical (Manufacturing and Services, Banking, Financial Services and Insurance (BFSI), Healthcare, Retail, Government, Oil and Gas, Telecom, and Others), and Region 2024-2032
Report Format: PDF+Excel | Report ID: SR112024A6367
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Global Cloud Enterprise Application Software Market:
The global cloud enterprise application software market size reached US$ 154.2 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 426.6 Billion by 2032, exhibiting a growth rate (CAGR) of 11.61% during 2024-2032. The rising need for scalable and flexible software solutions to support enterprise applications is stimulating the market.
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Report Attribute
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Key Statistics
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|---|---|
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Base Year
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2023
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Forecast Years
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2024-2032
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Historical Years
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2018-2023
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Market Size in 2023
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US$ 154.2 Billion |
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Market Forecast in 2032
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US$ 426.6 Billion |
| Market Growth Rate 2024-2032 | 11.61% |
Cloud Enterprise Application Software Market Analysis:
- Major Market Drivers: The increasing demand for remote access and real-time data integration to improve efficiency is propelling the market.
- Key Market Trends: The growing focus on cost reduction and lowering infrastructure expenses to enhance profitability is acting as a significant growth-inducing factor.
- Competitive Landscape: Some of the major market companies include Accruent LLC (Fortive Corporation), Epicor Software Corporation, Hewlett Packard Enterprise Development LP, IFS AB, Infor Inc. (Koch Industries Inc.), International Business Machines Corporation, Microsoft Corporation, Oracle Corporation, QAC Inc., Salesforce Inc., and SAP SE, among many others.
- Geographical Trends: Advanced IT infrastructure, increasing adoption of cloud solutions, and the strong presence of leading software vendors in the region are augmenting the market in North America.
- Challenges and Opportunities: Data security concerns are hindering the market. However, implementing stronger encryption, compliance measures, and secure cloud management practices will continue to strengthen the market over the forecast period.
Cloud Enterprise Application Software Market Trends:
Growing Demand for AI-Powered Business Applications
The increasing reliance on artificial intelligence in enterprise software is driven by its ability to automate complex tasks, streamline decision-making, and enhance operational efficiency. In contrast, businesses are adopting AI to improve workflows, predictive analysis, and real-time data management, thereby boosting overall performance and innovation. For instance, in June 2024, Unqork launched the GenAI Connector, enabling businesses to seamlessly integrate third-party AI tools and accelerate AI-driven application development. This update, part of Unqork’s new platform release, simplifies AI adoption, enhances security, reduces development time, and supports popular platforms like OpenAI and GoogleAI for enterprise application scalability.
Increasing Need for Seamless Cloud Integrations
The demand for smooth integrations between different cloud systems and applications is growing, as businesses expand their use of cloud solutions. Moreover, this allows companies to connect various platforms, data sources, and software effortlessly, thereby ensuring better collaboration, data consistency, and process optimization. For instance, in September 2024, Oracle launched Fusion Cloud Sustainability, a new app for integrating data from Oracle Fusion Cloud ERP and SCM into Fusion Cloud EPM. Along with this, the app offers features like automated transaction records, emission factor mapping, and prebuilt dashboards. Thus, enabling enterprises to enhance sustainability reporting and decision-making with AI-powered insights.
Rising Focus on Security and Compliance
With more sensitive data moving to the cloud, ensuring robust security measures and compliance with regulatory standards has become a key priority. Furthermore, companies are seeking enterprise software that offers advanced encryption, data privacy protections, and audit capabilities to maintain trust and avoid legal risks. For instance, in September 2024, Hewlett Packard Enterprise launched HPE Private Cloud AI, allowing businesses to deploy AI applications, such as generative AI virtual assistants, in one click. The platform developed with NVIDIA simplifies AI deployment, improves efficiency, and supports customizable, modular applications managed through HPE GreenLake with advanced security features.
Global Cloud Enterprise Application Software Industry Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the market, along with the cloud enterprise application software market forecast at the global, regional, and country levels for 2024-2032. Our report has categorized the market based on solution and industry vertical.
Breakup by Solution:
- Customer Relationship Management (CRM)
- Enterprise Resource Planning (ERP)
- Supply Chain Management (SCM)
- Web Conferencing
- Business Intelligence (BI)
- Business Process Management (BPM)
- Content Management System (CMS)
- Enterprise Asset Management (EAM)
- Others
Customer relationship management (CRM) currently holds the largest cloud enterprise application software market demand
The report has provided a detailed breakup and analysis of the market based on the solution. This includes customer relationship management (CRM), enterprise resource planning (ERP), supply chain management (SCM), web conferencing, business intelligence (BI), business process management (BPM), content management system (CMS), enterprise asset management (EAM), and others. According to the report, customer relationship management (CRM) represented the largest market segmentation.
Customer relationship management (CRM) in cloud enterprise software allows businesses to manage interactions with customers effectively. On the contrary, solutions like Salesforce and Microsoft Dynamics provide real-time data access, AI-driven insights, and seamless integration across departments, improving customer service, sales tracking, and overall business efficiency.
Breakup by Industry Vertical:
- Manufacturing and Services
- Banking, Financial Services and Insurance (BFSI)
- Healthcare
- Retail
- Government
- Oil and Gas
- Telecom
- Others
The report has provided a detailed breakup and analysis of the market based on the industry vertical. This includes manufacturing and services, banking, financial services and insurance (BFSI), healthcare, retail, government, oil and gas, telecom, and others.
Cloud enterprise application software is widely adopted across industries like manufacturing, banking, financial services and insurance (BFSI), healthcare, retail, and telecom for streamlining operations and improving efficiency. In contrast, government, oil and gas sectors, and others leverage it for enhanced data management, automation, and real-time analytics, thereby driving better decision-making and operational transparency.
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
North America currently dominates the cloud enterprise application software market outlook
The cloud enterprise application software market outlook report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America accounted for the largest market share.
As per the cloud enterprise application software market forecast report, North America exhibits a clear dominance in the market driven by its advanced IT infrastructure, widespread adoption of cloud technologies, and strong presence of major players. In addition, this region leads in digital transformation and innovation, driven by high demand from large enterprises and government sectors. For example, in September 2024, Hewlett Packard Enterprise launched HPE Private Cloud AI, boosting North America's leadership in cloud AI solutions.
Competitive Landscape:
The cloud enterprise application software market research report has provided a comprehensive analysis of the competitive landscape. Detailed profiles of all major market companies have also been provided. Some of the key players in the market include:
- Accruent LLC (Fortive Corporation)
- Epicor Software Corporation
- Hewlett Packard Enterprise Development LP
- IFS AB
- Infor Inc. (Koch Industries Inc.)
- International Business Machines Corporation
- Microsoft Corporation
- Oracle Corporation
- QAC Inc.
- Salesforce Inc.
- SAP SE
(Please note that this is only a partial list of the key players, and the complete list is provided in the report.)
Cloud Enterprise Application Software Market Recent Developments:
- September 2024: Oracle launched Fusion Cloud Sustainability, a new app for integrating data from Oracle Fusion Cloud ERP and SCM into Fusion Cloud EPM, which offers features like automated transaction records, emission factor mapping, and prebuilt dashboards.
- September 2024: Hewlett Packard Enterprise introduced HPE Private Cloud AI, allowing businesses to deploy AI applications, such as generative AI virtual assistants, in one click.
- June 2024: SAP announced its partnerships with Nvidia, AWS, and Microsoft to integrate AI across its cloud software portfolio. SAP’s Joule generative AI copilot will be embedded in more products, enhancing workflows, analytics, and business operations, enabling seamless AI-driven automation and decision-making for enterprise users.
Cloud Enterprise Application Software Market Report Scope:
| Report Features | Details |
|---|---|
| Base Year of the Analysis | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Units | US$ Billion |
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Scope of the Report |
Exploration of Historical Trends and Market Outlook, Industry Catalysts and Challenges, Segment-Wise Historical and Predictive Market Assessment:
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| Solutions Covered | Customer Relationship Management (CRM), Enterprise Resource Planning (ERP), Supply Chain Management (SCM), Web Conferencing, Business Intelligence (BI), Business Process Management (BPM), Content Management System (CMS), Enterprise Asset Management (EAM), Others |
| Industry Verticals Covered | Manufacturing and Services, Banking, Financial Services and Insurance (BFSI), Healthcare, Retail, Government, Oil and Gas, Telecom, Others |
| Regions Covered | Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
| Countries Covered | United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico |
| Companies Covered | Accruent LLC (Fortive Corporation), Epicor Software Corporation, Hewlett Packard Enterprise Development LP, IFS AB, Infor Inc. (Koch Industries Inc.), International Business Machines Corporation, Microsoft Corporation, Oracle Corporation, QAC Inc., Salesforce Inc., SAP SE, etc. |
| Customization Scope | 10% Free Customization |
| Report Price and Purchase Option | Single User License: US$ 3899 Five User License: US$ 4899 Corporate License: US$ 5899 |
| Post-Sale Analyst Support | 10-12 Weeks |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
Key Benefits for Stakeholders:
- IMARC's industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the cloud enterprise application software market from 2018-2032.
- The research report provides the latest information on the market drivers, challenges, and opportunities in the global cloud enterprise application software market.
- The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
- Porter's five forces analysis assists stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the cloud enterprise application software industry and its attractiveness.
- The competitive landscape allows stakeholders to understand their competitive environment and provides insight into the current positions of key players in the market.
The global cloud enterprise application software market was valued at US$ 154.2 Billion in 2023.
We expect the global cloud enterprise application software market to exhibit a CAGR of 11.61% during 2024-2032.
The growing utilization of software as a service (SaaS) cloud computing service model that aids in reducing information technology (IT) infrastructural costs and synchronizing, updating, and storing documents is primarily driving the global cloud enterprise application software market.
The sudden outbreak of the COVID-19 pandemic has led to the growing adoption of hybrid cloud computing enterprise applications for asset management, during the remote working and Bring-Your-Own-Device (BYOD) models.
Based on the solution, the global cloud enterprise application software market can be segmented into Customer Relationship Management (CRM), Enterprise Resource Planning (ERP), Supply Chain Management (SCM), web conferencing, Business Intelligence (BI), Business Process Management (BPM), Content Management System (CMS), Enterprise Asset Management (EAM), and others. Currently, Customer Relationship Management (CRM) holds the majority of the total market share.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.
Some of the major players in the global cloud enterprise application software market include Accruent LLC (Fortive Corporation), Epicor Software Corporation, Hewlett Packard Enterprise Development LP, IFS AB, Infor Inc. (Koch Industries Inc.), International Business Machines Corporation, Microsoft Corporation, Oracle Corporation, QAC Inc., Salesforce Inc., and SAP SE.
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