In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022. Purchasing power in the country is expected to fell nearly by 2.5%.
On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.
January 11, 2022: YesAsia Holdings Ltd. has selected Oracle Fusion Cloud Customer Experience (CX) to automate its marketing platform with AI-driven technology solutions.
August 18, 2020: VMware, Inc. announced new VMware vRealize cloud management, on-premises and software as a service (SaaS) offerings to further enable customers to consistently deploy and operate their applications.
Ans: Increasing deployment of cloud computing technologies is estimated to boost the market growth.
Ans: The market is anticipated to attain a CAGR of ~9% over the forecast period, i.e., 2022 – 2031.
Ans: The major players in the market are Verizon Communications Inc., IBM Corporation, SAP SE, Pivotal Software, Inc., DigitalOcean, Inc., Oracle Corporation, VMware, Inc., Amazon Web Services, Inc., and Axway Software.
Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by service type, enterprise size, end-user, and by region.
Ans: The large enterprises segment is anticipated to hold largest market size over the forecast period and display significant growth opportunities.
Ans: Lack of awareness amongst people, and cyber security issues are estimated to hamper the market growth.
Ans: The North America region is anticipated to provide more business opportunities over the forecast period owing to the growing adoption of cloud technologies in the region.