Increasing Deployment of SAP Cloud Platform Services to Create IT Infrastructure and Help in Business Transformation: Fact.MR Report
ROCKVILLE, MD, UNITED STATES, July 12, 2024 /
EINPresswire.com/ -- According to a recently updated research study by Fact.MR, a market research and competitive intelligence provider, the global
SAP cloud platform services market is anticipated to reach a value of US$ 714.4 million in 2024 and surge ahead at 26% CAGR from 2024 to 2034. Increased demand for SAP cloud services is attributed to their key use in creating IT infrastructure.
There is increased demand for SAP services in small- & medium-scale enterprises around the world. Several organizations are deploying SAP cloud services as an effective tool for improving business efficiency. They find application in enhancing the operational capabilities of these small-scale organizations.
Increased preference for these solutions among small- & medium-sized enterprises is owing to their comparatively lower prices than on-premise services.
New market players are focusing on technological innovations and advancements to offer SAP cloud platform services with optimized performance. North America and East Asia will be key regional markets for SAP cloud platform services, together accounting for close to half of worldwide revenue.
For More Insights into the Market, Request a Sample of this Report:
https://www.factmr.com/connectus/sample?flag=S&rep_id=2265
Key Takeaway from Market Study
The global SAP cloud platform services market is projected to reach a value of US$ 7.2 billion by 2034. North America is evaluated to capture a share of 24.2% of global market revenue by the end of 2034. The market in Japan is approximated to advance at a CAGR of 26.5% from 2024 to 2034.
Demand for SAP cloud platform services in South Korea is forecasted to accelerate at 26.8% CAGR through 2034. Worldwide demand for SAP cloud platform services for use in small- & medium-scale enterprises is analyzed to increase at a CAGR of 27% and reach a market value of US$ 4.68 billion by 2034-end. Strategy & consulting services are calculated to hold a 25% share of global market revenue by 2034-end.
“Market players are investing significantly to offer more advanced SAP cloud platform services for streamlining workflows with better scalability,” says a Fact.MR analyst.
Rising Involvement of Organizations in China in Continuous Innovations
Demand for SAP cloud platform services in China is evaluated to accelerate at a CAGR of 25.9% and reach a market value of US$ 804.3 million by the end of 2034. More organizations in China are deploying cloud software to improve their operations, change outdated business models, and introduce new capabilities for supporting their routine practices. Increasing focus of organizations to speed up their operation procedure is a key factor driving demand for SAP cloud platform services in the country.
Regional Analysis
North America is analyzed to account for 24.2% share of the global market by 2034-end, as mentioned in the updated study by Fact.MR, a market research and competitive intelligence provider. Increased demand for SAP cloud platform services in the region is attributed to the increased adoption of advanced technologies, such as IoT and artificial intelligence, which is having a positive impact on the demand for SAP services as well.
Prominent Market Players
Some of the leading providers of SAP cloud platform services are Atos SE, SAP SE, Tata Consultancy Services Limited, Accenture Plc., Cognizant Technology Solutions Corp., Wipro Limited, HCL Technologies, Infosys Limited, DXC Technology, and Capgemini SE.
Get Customization on this Report for Specific Research Solutions:
https://www.factmr.com/connectus/sample?flag=RC&rep_id=2265
Competitive Landscape
Some of the key players in the SAP cloud platform services industry are profiled in Fact.MR Report has been constantly investing in the innovation of product designs to meet challenges related to component placement encountered in the engine environment. They are focusing on new product launches, acquisitions, mergers, collaborations, and partnerships to expand their reach globally.
For instance:
Accenture, in February 2021, acquired Edenhouse, which is established in the United Kingdom and offers services in SAP cloud software and on-premise solutions. This acquisition will strengthen Accenture's footprint in SAP services in the United Kingdom market.
SAP SE, in January 2021, launched a service and software package addressed as 'Rise with SAP'. It is a new collection of software and services for assisting customers with digital transformation and cloud migration initiatives.
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the SAP cloud platform services market, presenting historical demand data (2019 to 2023) and forecast statistics for the period (2024 to 2034).
The study divulges essential insights into the market based on service type (strategy & consulting services, system conversion services, proof of concept (PoC) services, integration services, migration services), enterprise size (small- & medium-scale enterprises, large-scale enterprises), and end-use industry (BFSI, healthcare, consumer goods & retail, manufacturing, energy & utility, IT & telecom, media & entertainment, government), across seven major regions of the world (North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia & Pacific, and MEA).
Explore More Studies Published by Fact.MR Research:
Cloud Gaming Market: The global cloud gaming market size is calculated at US$ 863.5 million for 2024 and is forecasted to reach US$ 6.62 billion by the end of 2034, expanding at a CAGR of 22.6% between 2024 and 2034.
Public Cloud Service Market: The global public cloud service market is estimated to be valued at US$ 220,180 million in 2024 and is anticipated to reach US$ 880,189.6 million by 2034, with a projected CAGR of 14.9% from 2024 to 2034.
About Fact.MR:
We are a trusted research partner of 80% of fortune 1000 companies across the globe. We are consistently growing in the field of market research with more than 1000 reports published every year. The dedicated team of 400-plus analysts and consultants is committed to achieving the utmost level of our client’s satisfaction.
Contact:
US Sales Office
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583, +353-1-4434-232 (D)
Sales Team: sales@factmr.com
S. N. Jha
Fact.MR
+1 628-251-1583
email us here