Global Oracle Services Market: Overview
Enterprises over the globe are developing new business models and enhancing production capacities, with an expectation of by exceeding their opposition. As these undertakings are directed towards increasing the reliability of the businesses, they are constantly looking for solutions that would enhance the process of their business operations. They are essentially looking for a single platform that offers multiple services and splendid cost benefits to the customers. These factors are anticipated to strengthen the growth ground of the oracle services market.
This rising popularity of platforms offering multi-disciplinary services has prompted Transparency Market Research to conduct a detailed research on the global oracle services market. In its latest study TMR highlights the key driving factors, restraints, opportunities and challenges in the market. It also sheds light on the market’s evolution throughout the forecast period of 2019 to 2027.
Global Oracle Services Market: Notable Developments and Competitive Analysis
The oracle services market is highly competitive with numerous medium and large-scale players. Leading companies in the market are focusing on small and medium-scale enterprises, and are expanding their horizons by providing services to these organizations. These companies are using their expertise to provide personalized services to these organizations in order to gain revenue benefits. Listed below are a few notable developments in the market:
- In June 2019, Microsoft Corp. announced an interoperability partnership with Oracle Corp. that will enable customers to run and migrate enterprise workload across Oracle Cloud and Microsoft Azure. This partnership was aimed at providing best of both the clouds experience to the customers. In addition to this, it also provides Oracle E-business suite on Azure. This seamless connection of Azure to Oracle Cloud services has unlocked numerous growth opportunities for the oracle services market.
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- In a bid to strengthen Oracle NetSuite support, Oracle announced the acquisition of Oxygen Systems, a NetSuite SuiteCloud Developer Network. Oracle is analysing the products of Oxygen Systems and will provide guidance to the customers accordingly. This acquisition has helped Oracle to expand its footprints globally and internationally. It will also strengthen its ERP localization services in Brazil.
Prominent companies operating in the oracle services market comprise:
- Big Switch Networks
- CA Technologies
- CyberPower Systems
- Delta Electronics
- Huawei
- Nuance Communications
Global Oracle Services Market: Key Drivers
Oracle cloud services are the key catalysts for the market’s expansion during the forecast period. The rise in interest in Oracle cloud services is an aftereffect of the march of enterprises towards advanced computing models in order to integrate and broaden applications in cloud. Sensing the high demand for advanced consulting services, Oracle vendors are offering a wide range of custom-made services for specific business needs. This has also led to an uptake in investments and funding for Oracle cloud services, thereby supporting the global oracle services market’s expansion. Benefits offered by oracle cloud services such as enhanced operation efficiency and reduction in the cost of ownership have also propelled its demand during the forecast period.
Global Oracle Services Market: Regional Analysis
Western Europe and North America are expected to lead the bandwagon in the oracle services market. The reason for this is attributable to the rising demand for cloud-based services. The market in Asia Pacific is also anticipated to be lucrative for the market’s growth due to recent progression in the economy. Developing countries such as China and India are the leading contributors to the oracle services market’s growth in this region.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
