Impact analysis of Covid-19 on Cloud Application Market

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Impact analysis of Covid-19 on Cloud Application
Market

• The spread of the COVID-19 pandemic has left its
  mark on various business sectors all over the
  world. However, things have been quite positive
  for the cloud application market as it has
  registered a considerable growth in the past few
  months.
• The sudden outbreak of the pandemic has led to a
  huge opportunity for the cloud applications in
  the first quarter of this year. As the work from
  home concept was widely adopted by the
  organizations across the globe, cloud gave the
  organizations varied applications for remotely
  accessing the data, building and running crucial
  applications, and allowing to work with the
  employees and partners all over the world.
• Keeping this unique situation in mind, we have
  brought to you our in-depth analysis to help you
  understand the impact of the pandemic on the
  clouds applications market.
• So, without further ado, lets find out covid-19
  impact on cloud computing market in detail.

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The dominant share of small and medium enterprises

• When you think in terms of organization size, the
  cloud application market is divided into large
  enterprises and smes (small and medium
  enterprises).
• The small and medium enterprises used to account
  for about 57.0 billion in revenue in 2018, and
  now, they are projected to increase at nearly 19
  by the year 2026. This growth has been widely
  credited to the considerable growth in the use of
  cloud-based applications by the small and medium
  enterprises.

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The Lucrativeness of the supply chain management

• Depending on the solutions, the market for cloud
  applications is divided into a number of
  segments. The following are the solution-based
  cloud applications market divisions
• Supply chain management
• Business analytics and intelligence
• Content management
• Human capital management
• Enterprise resource management
• Customer relationship management
• Though all of these segments have been influenced
  to some degree by the cloud computing market, the
  supply chain management deserves a special
  mention in terms of its projected growth.

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The profitability of consumer goods and retail

• In terms of verticals, the cloud application
  market is segregated into sections, such as
• Healthcare and life sciences
• Retail and consumer goods
• Energy and utilities
• Transportation and logistics
• Travel and hospitality
• Telecommunications
• Out of all these sections, the two that need
  special mention are healthcare and retail and
  consumer goods. The healthcare sector, in terms
  of its importance in the ongoing pandemic
  situation, and the retail and consumer goods
  segment, for its share in the cloud applications
  market, have taken greater significance in this
  division.

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The Healthcare sector leading the cloud
investments

• The healthcare sector requires secured and
  scalable cloud infrastructure for managing and
  maintaining patient information with a high
  degree of flexibility and speed. With the
  pandemic situation going from bad to worse, there
  is an immediate requirement for advanced
  technologies, such as cloud computing to analyze
  crucial patient data.
• As the amount of electronic health records held
  by the organization is on the rise, the
  healthcare providers are increasing their use of
  highly secure and scalable cloud solutions to
  cater to a considerable high number of cases.
• Healthcare institutes and private doctors are
  offering online consultation amongst country-wide
  lockdowns. The virus outbreak has also increased
  the demand for mobile ambulance services. All of
  these services and facilities require cloud-based
  collaboration and communication platforms for
  improving employee productivity and operational
  efficiency.

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A Geographical analysis of the major players in
the market

• Depending on the region, if we take the regions
  as Asia Pacific, Europe, North America, Latin
  America, Middle East and Africa, the rate of
  disaster recovery has not been the same all over.
  However, the adoption of cloud applications have
  uniformly increased across the world.
• The Asia-Pacific market for cloud applications
  has to be especially mentioned here because of
  its huge growth in the user base for cloud
  computing. This growth mainly stems from an
  increased awareness about the benefit of cloud
  applications in the countries like South Korea,
  India, and China.
• The top players in each of these countries have
  realized the potential of cloud applications.
  Speaking of top players, some of the top names
  that have had an increased adoption of cloud
  computing technologies include Google, Microsoft
  Corporation, Oracle, Salesforce, Adobe, IBM, and
  SAP.

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SaaS solutions to hold a considerable size of the
market

• In terms of technology, SaaS (software as a
  service) solution part of the market is expected
  to have a larger market size in this period.
  Cloud software solutions faced a major hit with
  the spread of the COVID-19 pandemic.
• But, the organizations changed their focus and
  started relying more on cloud automation. They
  strengthened their online existence by developing
  ecommerce sites on cloud platforms for decreasing
  the impact of the pandemic on operational
  efficiency and productivity.

The bottom line

• With an increasing number of businesses
  considering to shift permanently to remote
  working facilities and the customers being more
  dependent on the online solutions, the rise in
  the demand for cloud applications is a given.
• As mentioned previously, the growth has been seen
  in all the sectors, with the only difference
  being in the percentage of growth. It can be
  summed up without a doubt that the cloud
  applications market has been positively impacted
  by the COVID-19 pandemic.

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Thank you
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