VALLEY COTTAGE, N.Y. – An exhaustive research study by Future Market Insights titled “Salesforce Services Market: Global Industry Analysis (2012-2016) and Opportunity Assessment (2017-2027)” is focussed on exploring the different cloud services across regions of North America, Western Europe, Eastern Europe, Latin America, Asia Pacific excluding Japan (APEJ), Japan and Middle East and Africa (MEA) along with factors influencing the market and global forecasts for a period of 10 years.
North America region to show higher market attractiveness
The global salesforce sales cloud market is witnessing higher growth in the North America region in terms of market value. North America region dominates the Salesforce sales cloud market with an estimated value of more than US$ 19 Bn by 2027 end with a CAGR of 14.9% during the forecast period. Asia Pacific is expected to show higher growth rate in the coming years.
The global Salesforce service cloud market finds North America to be a more lucrative region. The service cloud market is anticipated to show a higher CAGR of 13.1% in the North America region, followed by a CAGR of 12.4% in Japan. North America dominates the global Salesforce service cloud market in terms of market value and is expected to reach a value of US$ 11.6 Bn by 2027 end.
Global Salesforce Services Market: Dynamics
Cloud computing can be referred to as the engine for growth in the Salesforce services market. The various benefits of cloud based offerings to Salesforce include an increase in operational productivity, increased revenue and lower costs. Adoption of cloud computing brings in advantages such as faster implementation, no upfront costs, scalability, accessibility and better security. Factors such as extensive product portfolio, for example, sales cloud, service cloud, marketing cloud, app cloud and others are boosting the market. New products such as analytics cloud and IoT cloud are gaining momentum and setting to achieve sufficient scale in the near future. Moreover, these cloud based solutions have shifted focus from IT to the business IT is intended to support. These solutions are used by customers to increase their sales pipeline, improve sales productivity, monitor leads and enhance customer relationship. Moreover, growing role of digitisation and online businesses across the globe along with the rise of artificial intelligence contributes to the growth of the Salesforce services market.
There are certain pulling factors that pose challenges to the growth of the global Salesforce services market. Lack of a skilled workforce coupled with a rigid and inflexible pricing model are main restraints for the growth of the market.
The global Salesforce services market has witnessed new trends such as shifting focus towards customer engagement and customer experience (customer centric), delivering industry specific solutions, sales cloud hitting sky rocketing numbers with respect to adoption and market share, rise of big data and increased market traction and geographic spread beyond North America.
Global Salesforce Services Market: Segmental Analysis
- The global Salesforce sales cloud market is expected to show higher growth rate and a higher market value of US$ 31.12 Bn and a CAGR of 14.1% during the forecast period 2017 to 2027
- The global Salesforce service cloud market is anticipated to grow at a CAGR of 12.5% throughout the period of forecast and is poised to reflect a value of 18.87 Bn by the end of 2027
- The implementation segment by product type in the global Salesforce sales cloud market is expected to dominate the market by reflecting a higher value of US$ 22.1 Bn by 2027 end a higher growth rate to witness a CAGR of 14.4% during the forecast period. With respect to global Salesforce service cloud market, the implementation segment is anticipated to reflect a CAGR of 13.0% during the forecast period and a higher market value of US$ 12.66 Bn by 2027 end, thereby dominating the market
Global Salesforce Services Market: Competitive Landscape
The research report on the global Salesforce services market has profiled tier players involved in the Salesforce services market such as Accenture PLC, International Business Machines Corporation, Capgemini SE, Deloitte Touche Tohmatsu Limited, Cognizant, NTT DATA Corporation, Fujitsu Limited, Tata Consultancy Services Limited, Infosys Limited, Tech Mahindra Limited, Wipro Ltd, Persistent Systems Private Limited, PwC, DXC Technology Company, HCL Technologies Limited, Birlasoft Inc, SLALOM, LLC, Strategic Growth, Inc, VirtusaPolaris Corporation and Simplus.
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