Fact.MR recently conducted a study on the global SAP cloud platform services market is anticipated to surge from USD 443 million in 2022 to a staggering USD 7,000 million by 2032. This remarkable growth trajectory is projected to unfold at an exhilarating compound annual growth rate (CAGR) of 31% over the period spanning from 2022 to 2032.
This analysis delves into pivotal trends shaping the market’s growth trajectory. The report elucidates on crucial dynamics such as drivers, restraints, and opportunities for key market players, stakeholders, and emerging entities involved in the SAP cloud platform services domain.
Furthermore, the study outlines the factors influencing the market’s future status throughout the forecast period. It encompasses a thorough assessment of value chain analysis, business execution, cost structure analysis, and supply chain analysis across various regional markets.
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The study offers comprehensive analysis on diverse features, including price point analysis at each product and brand level, consumer survey analysis, social media sentiment analysis, product benchmarking and revenue generation from SAP cloud platform services providers across the globe.
A comprehensive estimate on the market has been provided, taking into account the revenue of SAP cloud platform services providers during the forecast period.
What is the Key Restraint in the Growth of SAP Cloud Platform Services Market?
A company requires multiple services throughout the span of using the SAP cloud platform services. For instance, the strategy & consulting services, which are expensive, are required to determine which software and information are critical to business, requires high availability and needs to be shifted to cloud.
The end-users of SAP cloud platform services requires to efficiently leverage the benefits of the platform such as using migration services to migrate data or any information from one legacy system to other. Therefore, high cost of these 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 SAP cloud platform services market.
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Key Segments Covered in the SAP Cloud Platform Services Industry Survey
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
Competitive Landscape
Fact.MR profiled the following key cloud platform services manufacturers in its report are SAP SE, Accenture Plc., Wipro Limited, Infosys Limited, Capgemini SE, Atos SE, DXC Technology, HCL Technologies, Cognizant Technology Solutions Corp and Tata Consultancy Services Limited. Key manufacturers are constantly innovating product designs to meet the modern day challenges pertaining to components placement in the engine environment.
Recent News
SAP SE introduced “Rise with SAP,” a novel software and service package, on January 27, 2021, aimed at aiding customers in their cloud migration and digital transformation endeavors.
February 16, 2021, Accenture acquired Edenhouse, a consulting partner specializing in on-premises and SAP cloud software solutions based in the UK. This strategic acquisition is poised to facilitate Accenture’s expansion of SAP services within the UK market.
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Key Takeaways from SAP Cloud Platform Services Market Study
- North America SAP cloud platform services market is expected to have a revenue share of 31.4% in 2022 and is likely to reach a valuation of USD 2.3 Billion by 2032 with a growth rate of 32.7%.
- 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.
- The migration services as service type is expected to be valued at USD 1.5 Billion by 2032 with a growth rate of 31.1%.
- By enterprise size, large enterprises a maximum growth rate of 31.6% with the market share of 42% by the end of 2032.