Global Cloud-enabling Technologies Market: Introduction
Cloud-enabling technologies enable the use of computing resources that are delivered to customers with the help of the internet. They majorly include Broadband networks and internet architecture, data center technology, virtualization technology, web technology, and multitenant technology. Data center technology and virtualization technology are estimated to expand at a healthy CAGR in the next five years.
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Global Cloud-enabling Technologies Market – Dynamics
Increase in Adoption of Cloud-based Service
Demand for the cloud-based services has been increasing across the globe in the last few years. Major reason for the adoption of cloud service is low operational and maintenance cost. In the current market scenario, more than 90% of SMEs are using cloud services across the globe. Amazon Web Services, Alibaba Cloud, Microsoft Azure and Google Cloud were market leaders in the cloud services by the end of 2019. North America leads the cloud technologies market due to large-scale adoption by SMEs in the U.S.
Lack of Compatible Network Infrastructure is Hampering Cloud-enabling Technologies Market
Cloud-enabling technologies depend considerably on the internet and communication services for their functionality. Consequently, they require a high speed internet connection such LAN and WAN. Several countries across the globe face network as well as internet connection issues due improper network infrastructure within their respective countries. Weak network infrastructure, especially in developing regions such as Asia Pacific, is likely to hamper the market.
North America to Dominate the Global Cloud-enabling Technologies Market
In terms of region, the global cloud-enabling technologies market can be divided into North America, Europe, Asia Pacific, South America, and Middle East & Africa. North America is expected to dominate the cloud-enabling technologies market during the forecast period due to strong adoption of next-gen technologies and other advance technologies by small & medium enterprises in the region.
COVID-19 Impact on the Global Cloud-enabling Technologies Market
The COVID-19 pandemic is expected to impact new investment in the global cloud-enabling technologies market in the short-term. Enterprises are highly skeptical about new investment in advanced technology; however, a shift toward remote working has also boosted the demand for cloud services across the globe. The impact of the COVID is projected to be for the shot-term in nature and post vaccination, the market is expected to be back on track in first quarter of 2021.
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Global Cloud-enabling Technologies Market – Competition Landscape
- In January 2020, customer experience technology provider Genesys and Microsoft Corporation expanded their partnership to simplify enterprise cloud adoption. Genesys Engage, which is a Gensys’s omnichannel customer experience platform, would be available on Microsoft Azure from late 2020. Microsoft Corporation said that it is likely to enhance security and scalability throughout the customer journey.
Incorporated in 1993, Microsoft Corporation is a technology company that develops, licenses, and supports a range of software products, services and devices, which enables digital transformation through intelligent cloud and intelligent edge. The company's segments include Productivity and Business Processes, Intelligent Cloud and More Personal Computing.
Global Cloud-enabling Technologies Market: Segmentation
The global cloud-enabling technologies market can be segmented based on:
- Enterprise Size
Global Cloud-enabling Technologies Market, by Enterprise Size
Based on enterprise size, the global cloud-enabling technologies market can be divided into:
- Small & Medium Enterprise
- Large Enterprise
Global Cloud-enabling Technologies Market, by Industry
In terms of industry, the global cloud-enabling technologies market can be segregated into:
- Banking, Financial Services & Insurance
- Telecom & Information Technology (IT)
- Wholesale Distribution
- Non-profit Organizations
- Food and Beverage
- Others (Hospitality, Government, and Public Sector, etc.)
Regional analysis of the global cloud-enabling technologies market includes:
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
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- Cloud Computing
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.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.