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Cloud Enterprise Management Software Market Segmented By Professional Services and Managed Services Type with Deployment Model such as Public Cloud, Private Cloud and Hybrid Cloud
Cloud enterprise management software has gain traction in last few years due to the increasing adoption of cloud computing technologies among enterprises technical advancements in the IT industry. Also, the growing need for cloud enterprise management software for reducing the cost associated with IT operations is driving the growth of cloud enterprise management software market.
In addition, various organizations are adopting cloud enterprise management software to maintain the data security. Cloud enterprise management software helps the organizations by increasing levels of safety of data and efficiency for organisation throughout the world and due to this factor, the cloud enterprise management software market is growing rapidly.
Cloud enterprise management software is a collective set of computer programs which provides services such as automated billing system, human resource management, IT service management, customer relationship management and enterprise resource planning.
Moreover, the growing external threats and safety in the various developed countries is fuelling the growth of cloud enterprise management software market. Also, the rapid increase in banking business, e-commerce business, and cloud-based services are some of the factors fuelling the growth of the cloud enterprise management software market.
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Drivers
Increasing adoption of cloud system management of heavy workload is the primary factor driving the growth of cloud enterprise management software market. Also, the growing adoption of cloud enterprise management software for simplified integration of complex and heterogeneous cloud environments is also driving the growth of cloud enterprise management software market.
Moreover, increasing adoption of private & hybrid cloud among the enterprises to optimize the internal business process and to improve operational efficiency is fuelling the growth of cloud enterprise management software market.
High spending of various countries on business technology and information technology is driving the growth of the cloud enterprise management software.
Furthermore, the boom in IoT market and rising trend of big data analytics are also some of the major factors supporting the growth of cloud enterprise management software market. Apart from this, the increasing internet penetration rate in various countries and high adoption of cloud-based solutions are driving the growth of cloud enterprise management software market.
Challenges
Costs associated with the implementation & maintenance of cloud enterprise management software is the primary factor which hinder the growth of cloud enterprise management software market. Also, data security concerns is also one of the major factors which hampers the growth of cloud enterprise management software market.
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Key Players
The prominent players in the global cloud enterprise management software are Planon Corporation, IBM Corporation, Oracle Corporation, Ioffice Corporation, Archibus, Inc., SAP SE, FM System, Inc., CA Technologies, Inc., Accruent, LLC, and Trimble, Inc.
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On the basis of geography, North America is expected to capture large market share in terms of revenue, in the cloud enterprise management software owing to the rise in adoption of cloud enterprise management software and solutions in various organizations in the U.S. and the presence of various cloud enterprise management software providers in the region.
Europe and APAC are expected to grow at a high CAGR, in terms of revenue, in the global cloud enterprise management software market, due to rapid increase in the number of IT and telecom companies and rising trends of enterprise mobility.
The cloud enterprise management software market in the MEA is also expected to witness high growth rates in the coming period, due to the rising trend of advanced technologies such as cloud computing & big data analytics.
The cloud enterprise management software market in Latin America is also expected to grow significantly due to the increasing adoption of IoT across various countries of the region.
