SMEs Remain the Highly Lucrative End User in SAP Cloud Platform Services Market, Performance Amelioration Requirements Fuel Adoption, Fact.MR Study
ROCKVILLE, Maryland, January 30, 2019 /PRNewswire/ --
The Fact MR research study predicts that the global SAP cloud platform services market is set to witness exceptional growth on the back of multiple number of small as well as large-scale enterprises actively venturing into advanced cloud services, with an aim of business performance amelioration.
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Owing to the massive shift toward cloud-oriented platforms, longstanding challenges are being faced by the cloud customers in multiple directions, including application management, workload management, integration, and so on.
"To strengthen their market sustenance and reinvigorate sales potential of the SAP cloud platform services, leading participants including SAP SE are making headway with strategic partnerships and collaborations in prominent regions across the globe. Taking into account the current scenario of mushrooming number of partnerships, emerging sales funnels will come to the forefront, which is likely to bolster growth of the SAP cloud platform services." - Senior Analyst, ICT Domain
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SAP Cloud Platform Services Market- Notable Highlights in Report
- The end users continue to show marked preferences for strategy & consulting services, as the end-use businesses seek for faster and adaptable approach to drive large-scale transformations. POC service or Proof of Concept is likely to pick the pace over the forecast period.
- Small & medium enterprises are foreseen to create potential revenue streams for the vendors of SAP cloud platform services globally. The large enterprises continue to demonstrate an unwavering inclination toward cloud services.
- In 2017, IT & telecom industry hold a substantial share of the overall SAP cloud platform services market and BFSI follows the trail.
- Retail & manufacturing and consumer goods sectors are likely to demonstrate augmented preference for SAP cloud platform services over the forecast timeline.
- United States remains an attractive region from SAP cloud platform services, offering sustained opportunities for market players to attain high-profit margins.
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Small & medium scale enterprises are evolving as highly lucrative end use verticals, apropos of adoption of SAP cloud platform services, states the Fact.MR study. Small & medium businesses remain extensively focused on cloud computing services, such as SAP cloud platform services, on back of reasonable cost factors associated in comparison to that of on premise deployment. The report finds that the revenue generation from the small & medium enterprises surpassed US$ 100 Mn by 2018-end.
Low revenues has been recorded across the large enterprises owing to wide-spread adoption of the on premise deployment. Early adoption of on premise SAP cloud platform services is a key aspect responsible for sluggish revenue generation from large enterprises, according to the report. However, the SAP cloud platform services demand across the large enterprises are likely to pick the pace over the forecast period, with rapid transition toward scalable and efficient models.
Americas retain their Eminence in terms of Lucrativeness in SAP Cloud Platform Services Landscape
SAP cloud platform services demand is likely to be highly prevalent across Americas, notably in the US. A cohort of broad factors, ranging from remarkable growth in economy to thriving infrastructure of cloud computing, play a paramount role in boosting sales in this country.
Prominent countries in Asia Pacific region, primarily Japan, are anticipated to demonstrate marked preference toward utilization of the SAP cloud platform service. The report forecasts that the clamor for SAP cloud platform services in China, India, Japan, & Australia is poised to proliferate at an impressive rate over the forecast timeline. Among all the forenamed countries, India continues to demonstrate a higher-than-expected growth potential, driven by a positive economic transition.
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Overall, futuristic outlook SAP cloud platform services market continues to remain positive in the upcoming years, with global market poised to grow at a CAGR of over 29% over the forecast period of 2018-2028.
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