The study provides an in-depth analysis of the global SME cloud market and current & future trends to elucidate the imminent investment pockets in the industry.
Small and medium enterprises (SMEs) can avoid investment on IT infrastructure and reduce operational costs by adopting cloud-based technology for their daily business operations. Cloud technology is considered as the most suitable solution for all industry verticals, as it offers features such as automatic software upgrades, flexibility, enhanced communication, and ease of collaboration between enterprise users.
Cloud enhances performance, efficiency, and security of business operations & data. For instance, companies located in Ireland are making use of this technology, and about 39% of the service sector and 13% of the manufacturing have already adopted the cloud technology for business continuity and development.
The need to reduce IT infrastructure investment and capital & operational expenditure drive the market growth. However, the need for high flexibility coupled with limited budgets, non-standard decision-making processes, and a wide range of service preferences restrict the market growth.
The emergence of customized service offerings is expected to create major opportunities for market development.
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The global SME cloud market is segmented on the basis of service model, end user, and region. Based on service model, it is bifurcated into SaaS market and IaaS market.
Based on end user, it is divided into manufacturing, healthcare, and retail. Based on region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key players operating in this market include Amazon.com, Inc., Google Corporation, Hewlett-Packard Enterprise, IBM Corporation, Microsoft, Rackspace Inc., Cisco Systems, Inc., Dell Inc., Oracle, and SAP SE.
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