As per MRFR analysis, the Cloud Based App Market Size was estimated at 237.57 (USD Billion) in 2022.The Cloud Based App Market Industry is expected to grow from 280.08(USD Billion) in 2023 to 1,231.6 (USD Billion) by 2032. The Cloud Based App Market CAGR (growth rate) is expected to be around 17.89% during the forecast period (2024 - 2032).
The cloud-based app market is witnessing a surge in demand, driven by the proliferation of mobile devices, improved internet connectivity, and the need for cost-effective and scalable solutions. The increasing adoption of cloud-based apps in various industries, such as healthcare, education, and retail, has further fueled market growth.
Key market drivers include the increasing data storage and processing requirements, the growing trend of remote work and BYOD (Bring Your Own Device), and the need for seamless collaboration and data accessibility across multiple devices. Businesses are leveraging cloud-based apps to improve operational efficiency, reduce IT infrastructure costs, and gain access to advanced analytics and insights.
Recent trends in the cloud-based app market include the adoption of artificial intelligence (AI) and machine learning (ML) technologies, the emergence of serverless computing, and the growing popularity of low-code/no-code development platforms. These advancements are enhancing the capabilities and ease of development of cloud-based apps, making them more accessible to businesses of all sizes.
Figure1: Cloud-Based App Market, 2018 - 2032 (USD Billion)
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
The increasing adoption of cloud computing is a primary driver of the Cloud Based App Market Industry. As businesses recognize the benefits of cloud-based solutions, such as scalability, cost-effectiveness and flexibility, they are increasingly migrating their applications and infrastructure to the cloud. This trend is expected to continue in the coming years as businesses seek to modernize their IT systems and gain a competitive advantage.The adoption of cloud-based apps offers several advantages to businesses. These apps are typically hosted on remote servers and can be accessed from anywhere with an internet connection. This flexibility allows employees to work remotely and collaborate on projects more easily.
Cloud-based apps are also often more cost-effective than traditional on-premises software, as businesses only pay for the resources they use. Additionally, cloud-based apps are typically more scalable than on-premises software, making it easier for businesses to grow and adapt to changing needs.The growing adoption of cloud computing is expected to continue to drive the growth of the Cloud Based App Market Industry. As more businesses migrate to the cloud, they will need cloud-based apps to support their operations. This is creating a significant opportunity for cloud-based app providers, and the market is expected to grow rapidly in the coming years.
The increasing demand for mobile apps is another major driver of the Cloud Based App Market Industry. The proliferation of smartphones and tablets has led to a surge in the demand for mobile apps, and businesses are increasingly turning to cloud-based solutions to develop and deploy these apps. Cloud-based app development platforms offer several advantages for businesses. These platforms provide businesses with access to pre-built templates and tools, which can simplify and accelerate the development process.
Additionally, cloud-based app development platforms typically offer flexible pricing models, which can help businesses save money. The increasing demand for mobile apps is expected to continue to drive the growth of the Cloud Based App Market Industry. As more businesses develop and deploy mobile apps, they will need cloud-based solutions to support these apps. This is creating a significant opportunity for cloud-based app providers, and the market is expected to grow rapidly in the coming years.
The growing adoption of AI and ML is another important driver of the Cloud Based App Market Industry. AI and ML technologies are being used to develop new and innovative cloud-based apps that can automate tasks, improve decision-making and provide personalized experiences. Cloud-based AI and ML apps offer several advantages for businesses. These apps can be used to automate repetitive tasks, such as data entry and customer service. They can also be used to improve decision-making by providing businesses with insights into data.
Additionally, cloud-based AI and ML apps can be used to provide personalized experiences for customers, such as product recommendations and targeted marketing campaigns. The growing adoption of AI and ML is expected to continue to drive the growth of the Cloud-Based App Market Industry. As more businesses adopt AI and ML technologies, they will need cloud-based apps to support these technologies. This is creating a significant opportunity for cloud-based app providers and the market is expected to grow rapidly in the coming years.
The Cloud Based App Market is segmented based on deployment model into public cloud, private cloud and hybrid cloud. Among these segments, the public cloud segment is expected to hold the largest market share in 2023 and is projected to continue its dominance throughout the forecast period. The growth of the public cloud segment can be attributed to the increasing adoption of cloud-based services by enterprises of all sizes. A public cloud offers several advantages over a private and hybrid cloud, such as scalability, flexibility and cost-effectiveness.The private cloud segment is expected to witness significant growth during the forecast period due to the increasing demand for secure and controlled cloud environments.
The private cloud offers greater control and security over data and applications, making it an ideal choice for enterprises with sensitive data or regulatory compliance requirements. The hybrid cloud segment is expected to grow at a steady pace during the forecast period as enterprises seek to combine the benefits of both public and private cloud. A hybrid cloud allows enterprises to deploy applications and data on the most appropriate cloud platform based on their specific requirements.The Cloud-Based App Market segmentation provides insights into the relative importance of different deployment models in the overall market.
This information can be used by market participants to make informed decisions about product development, marketing and sales strategies. For instance, vendors can focus on developing solutions that cater to the specific needs of each deployment model. Additionally, market participants can use this information to identify potential growth opportunities and target specific customer segments. The Cloud-Based App Market segmentation also helps in understanding the competitive landscape and identifying potential threats and opportunities.
Figure2: Cloud-Based App Market, By Deplyment Model, 2023 & 2032 (USD billion)
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
The Cloud-Based App Market is segmented based on Application Type into SaaS, PaaS and IaaS. Among these, the SaaS segment is estimated to hold the largest market share in 2023 and is projected to continue its dominance throughout the forecast period. The growth of the SaaS segment can be attributed to the increasing adoption of cloud-based applications by small and medium-sized businesses (SMBs).
These businesses are increasingly looking to leverage the benefits of cloud computing, such as cost-effectiveness, scalability and flexibility, without having to invest in expensive on-premises infrastructure.The PaaS segment is also expected to witness significant growth over the forecast period, driven by the growing demand for cloud-based development tools and platforms. The IaaS segment is expected to grow at a steady pace as businesses continue to adopt cloud-based infrastructure to support their growing IT needs.
The Cloud Based App Market segmentation by Industry Vertical includes Healthcare, Retail, Manufacturing and Financial Services. The Healthcare vertical held the largest market share in 2023 and is expected to continue its dominance throughout the forecast period. The growing adoption of cloud-based apps in the healthcare industry is attributed to the increasing need for efficient patient care, improved data management and cost reduction.
The Retail vertical is expected to witness significant growth over the forecast period, driven by the increasing adoption of omnichannel retailing and the need for enhanced customer engagement.The Manufacturing vertical is also expected to experience steady growth, as cloud-based apps offer improved production efficiency, supply chain management and quality control. The Financial Services vertical is expected to grow at a moderate pace as cloud-based apps offer improved risk management, compliance and customer service.
The Cloud Based App Market segmentation by organization size is categorized into Small and Medium-sized Enterprises (SMEs) and Large Enterprises. SMEs are projected to hold a significant market share in 2023, owing to the increasing adoption of cloud-based apps to enhance operational efficiency and reduce costs. Large enterprises, on the other hand, are expected to witness substantial growth in the coming years, driven by the need for robust and scalable solutions to manage complex business processes.
The Cloud Based App Market revenue for SMEs is estimated to reach USD 123.6 Billion by 2023, growing at a CAGR of 16.3%.Large enterprises, with their higher IT budgets and complex requirements, are projected to contribute USD 183.1 Billion to the market revenue by 2023, expanding at a CAGR of 17.1%.
The Cloud Based App Market is segmented into North America, Europe, APAC, South America and MEA. North America held the largest market share in 2023 and is expected to continue its dominance throughout the forecast period. The region's large number of cloud-based app providers and early adoption of cloud technology contribute to its leading position. Europe is another significant market for cloud-based apps, with a growing number of businesses adopting cloud solutions to improve efficiency and reduce costs. APAC is expected to witness the fastest growth over the forecast period due to the increasing adoption of cloud-based apps in developing countries like India and China.South America and MEA are also expected to experience steady growth as businesses in these regions recognize the benefits of cloud-based apps.
Figure3: Cloud-Based App Market, By Regional, 2023 & 2032 (USD billion)
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Major players in Cloud cloud-based app Market industry are constantly striving to stay ahead of the competition by investing heavily in research and development. Leading Cloud Based App Market players are focusing on developing innovative new products and services that meet the evolving needs of their customers. The Cloud Based App Market industry is expected to witness significant development in the coming years, as more and more businesses adopt cloud-based solutions. Competition in the Cloud Based App Market is expected to intensify further as new entrants join the market and existing players expand their offerings.
To stay ahead of the competition, players in the Cloud Based App Market are focusing on providing value-added services, such as consulting, implementation and support.One of the leading companies in the Cloud Based App Market is Salesforce. Salesforce is a provider of cloud-based customer relationship management (CRM) software. The company's CRM software helps businesses manage their sales, marketing and customer service operations. Salesforce has a strong track record of innovation and has been consistently recognized as a leader in the CRM market. The company has a customer base of over 150,000 businesses.
Salesforce is well-positioned to continue to grow its market share in the coming years as more and more businesses adopt cloud-based CRM solutions.Another major player in the Cloud Based App Market is SAP. SAP is a provider of enterprise software applications. The company's software applications help businesses manage their financial, human resources and supply chain operations. SAP has a strong track record of innovation and has been consistently recognized as a leader in the enterprise software market. The company has a customer base of over 400,000 businesses. SAP is well-positioned to continue to grow its market share in the coming years as more and more businesses adopt cloud-based enterprise software solutions.
Adobe
Salesforce
Infor
Oracle
ServiceNow
SAP
Anaplan
Microsoft
Workday
Tableau
SAP Concur
IBM
The Cloud Based App Market is projected to reach a market size of USD 1231.6 billion by 2032, exhibiting a CAGR of 17.89% during the forecast period from 2024 to 2032. The growth of the market is attributed to the increasing adoption of cloud-based applications across various industries, the rising demand for mobile applications and the growing popularity of Software-as-a-Service (SaaS) models.
Recent news developments in the market include the launch of new cloud-based applications by major vendors such as Salesforce and Microsoft, as well as the acquisition of smaller cloud-based app providers by larger companies. The market is expected to witness significant growth in the coming years, driven by the increasing penetration of cloud computing and the growing adoption of mobile devices.
| Report Attribute/Metric | Details |
| Market Size 2022 | 237.57(USD Billion) |
| Market Size 2023 | 280.08(USD Billion) |
| Market Size 2032 | 1231.6(USD Billion) |
| Compound Annual Growth Rate (CAGR) | 17.89% (2024 - 2032) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year | 2023 |
| Market Forecast Period | 2024 - 2032 |
| Historical Data | 2019 - 2023 |
| Market Forecast Units | USD Billion |
| Key Companies Profiled | Google, Adobe, Qlik, SAP Ariba, Salesforce, Infor, Oracle, ServiceNow, SAP, Anaplan, Microsoft, Workday, Tableau, SAP Concur, IBM |
| Segments Covered | Deployment Model, Application Type, Industry Vertical, Organization Size, Regional |
| Key Market Opportunities | Growing mobile workforce adoption of SaaS and PaaS increasing cloud infrastructure investment scalability and flexibility enhanced security |
| Key Market Dynamics | Increasing adoption of cloud-based technologies Growing demand for mobile applications Need for cost-effective and scalable solutions Emergence of AI and machine learning in cloud-based apps Increasing cybersecurity concerns |
| Countries Covered | North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Cloud Based App Market is expected to reach USD 280.08 billion in 2023.
The Cloud Based App Market is projected to grow at a CAGR of 17.89% from 2024 to 2032.
The growth of the Cloud Based App Market is driven by factors such as the increasing adoption of cloud computing, the growing need for mobile applications, and the rising demand for SaaS applications.
The major regions contributing to the growth of the Cloud Based App Market are North America, Europe, and Asia Pacific.
The key competitors in the Cloud Based App Market include Salesforce, Microsoft, SAP, Oracle, and Adobe.
The key applications of Cloud Based Apps include CRM, ERP, HCM, and SCM.
The Cloud Based App Market is expected to reach USD 1231.6 billion by 2032.
The emergence of technologies such as AI, ML, and IoT is expected to have a significant impact on the Cloud Based App Market.
The challenges faced by the Cloud Based App Market include security concerns, data privacy regulations, and the need for skilled professionals.
The opportunities for growth in the Cloud Based App Market include the increasing adoption of cloud computing in emerging markets, the growing demand for mobile applications, and the rising popularity of SaaS applications.
Leading companies partner with us for data-driven Insights.
Kindly complete the form below to receive a free sample of this Report
Team Lead - Research she holds an experience of about 6+ years in market research and business consulting, working under the spectrum of information communication technology, telecommunications and semiconductor domains. aarti conceptualizes and implements a scalable business strategy and provides strategic leadership to the clients. her expertise lies in market estimation, competitive intelligence, pipeline analysis, customer assessment, etc.
Get in Touch
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)
