Cloud Application Market Share, Insights by 2031 – TMR

Cloud Application: Introduction

• A cloud application is also referred to as cloud app and is a software program where local and cloud-based components such as SaaS, IaaS, PaaS, & BPaaS work together on a remote server through a web browser with a continuous internet connection. Cloud applications are deployed in cloud environments rather than being hosted on a local server or machines.
• Furthermore, a cloud application is like a standard website, where computing and data processing are managed. Cloud applications run between two different systems i.e. client-side and server-side.

Global Cloud Application Market: Dynamics

Global Cloud Application Market: Key Drivers

• Surge in demand for cloud computing across small & medium and large enterprises is expected to fuel the growth of the cloud application market.
• Rapid increase in usage of mobile-based apps is a key aspect likely to accelerate the cloud application market in the next few years.
• Rise in demand for cloud applications with trending technologies such as artificial intelligence, machine learning, and big data analytics, in order to access data in real time is expected to trigger the growth of the cloud application market.
• Furthermore, growing deployment of cloud applications for monitoring tools such as cloud management platforms (CMPs), to keep track of compliance status, security threats, and application performance across all cloud systems is projected to create opportunity for the growth of the cloud application market across the globe.
• Rising adoption of multi-cloud deployment across industries is projected to create new opportunities for the cloud application market during the forecast period 2024- 2031.

Global Cloud Application Market: Restraints

• Rising cyber-attacks is a major factor expected to obstruct the growth of the global cloud application market in the next few years.

Impact of COVID-19 on the Global Cloud Application Market

The COVID-19 outbreak has been a major challenge for the post-pandemic business environment. Governments of different countries across the world have imposed lockdowns to curb the spread of the disease. Hence, organizations or enterprises are adopting cloud applications to monitor the performance of deployed cloud applications across remote servers during the pandemic outbreak. Cloud applications are extensively used by industries across both developed and developing countries during the pandemic outbreak, due to social distancing and for remote working. This in turn is likely to enhance the growth of cloud applications during the COVID-19 outbreak.

North America to Hold a Major Share of the Global Cloud Application Market

• In terms of region, the global cloud application market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America
• North America dominated the global cloud application market in 2020. The U.S. is the key market in the region due to the increasing adoption of cloud technologies across enterprises in the U.S. Additionally, presence of well-established players offering cloud applications is expected to boost the cloud application market in the North American region.
• The cloud application market in Asia Pacific is projected to expand at a rapid pace during the forecast period. This can be attributed to increasing adoption of cloud applications by enterprises across China, Japan, Singapore, Australia, and India, due to higher penetration rate of the internet for developing IT infrastructure systems.

Global Cloud Application Market: Competition Landscape

Several local, regional, and global players are active in the cloud application market with a strong presence. Rapid technological advancements have created significant opportunities in the global cloud application market. Market players are increasingly focusing on collaborations, mergers, and acquisition activities with technology partners to develop innovative and advanced solutions in order to improve their offerings and market reach.

Key Players Operating in the Global Cloud Application Market Include:

• Amazon Web Services, Inc.
• 7T / SevenTablets Inc.
• Adobe Inc.
• Cloudbakers LLC.
• Fujitsu Limited
• Google LLC.
• IBM Corporation
• Jelastic, Inc.
• Mendix Tech BV
• Microsoft corporation
• Oracle Corporation
• Pivotal Software, Inc.
• Rackspace Technology, Inc.
• Red Hat, Inc.
• Salesforce.com, Inc.
• SAP SE
• Siemens AG
• Sumo Logic, Inc.
• Tata Consultancy Services Limited.
• Verizon Communications Inc.

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