The global SAP cloud platform services market is estimated at USD 443 Million in 2022 and is forecast to reach USD 7,000 Million by 2032, growing at an exciting CAGR of 31% during 2022-2032.
In 2022, the global market for SAP cloud platform services will represent less than 1% of the overall cloud computing market. During the assessment period of 2022–2032, the market for SAP cloud platform services is predicted to have an absolute dollar opportunity of USD 6,200 Million. Customers have reported difficulties managing applications, integrating workloads, and other aspects of cloud computing as a result of the rise in the number of cloud platforms. Due to this, companies like SAP SE developed advanced cloud platform services to address cloud problems. These services offer features like streamlined process control and improved workload management using services offered under the SAP cloud platform services portfolio.
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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.
This report explicates on vital dynamics, such as the drivers, restraints, and opportunities for key market players along with key stakeholders as well as emerging players associated with the development of SAP cloud platform services.
The study also provides the dynamics that are responsible for influencing the future status of the market over the forecast period. A detailed assessment of value chain analysis, business execution, cost structure analysis, and supply chain analysis across regional markets has been covered in the report.
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.
For instance,
- On January 27, 2021, SAP SE launched software and service package called “Rise with SAP”, a new collection of service and software, to assist customers with cloud migration and digital transformation initiatives.
- On February 16, 2021, Accenture acquired Edenhouse, an on-premises and SAP cloud software consulting partner in the UK. This acquisition will help the Accenture to expand the SAP services in UK Market.
Global SAP Cloud Platform Services Market by Category
· 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
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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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