What is Covid-19 Impact on Cloud Office Services Market?
The global cloud office services market is expected to grow at a moderate pace during the forecast period, according to the AMA study. Rising IT investments of different companies and rising trend of cloud analytics & big data implementation are expected to be some of the major factors aiding into the growth for the market. However, the market is expected to witness a decline in the growth during FY 2020 but it is again expected to rise with a healthy pace after the COVID-19 pandemic is over.
The market study is being classified by Type (Managed Services and Professional Services), by Application (Business Services, Network Services, Security Services, Infrastructure Services, Mobility Services and Communication & Collaboration Services) and major geographies with country level break-up.
Accenture (Ireland), Alcatel-Lucent (France), Amazon Web Services, Inc. (United States), Cisco Systems, Inc. (United States), Ericsson (Sweden), Fujitsu (Japan), Hewlet-Packyard Enterprises (United States), IBM (United States), Infosys (India), NEC Corp. (Japan), Tata Consulting Services (India) and Wipro Limited (India) are some of the key players profiled in the study.
The vendors in this market are majorly focusing on emerging markets in order to cater to the market's demands to remain competitive in the global market. According to the recent global industry crisis due to outbreak of COVID-19 is expected to be one of the major challenges for the vendors of this market as the production and markets of different industries have been shut down for an ambiguous period of time. Research Analyst at AMA predicts that United States, India Players will contribute to the maximum growth of Global Covid-19 Impact on Cloud Office Services market throughout the predicted period.
Analyst at AMA have segmented the market study of Global Covid-19 Impact on Cloud Office Services market by Type, Application and Region.
On the basis of geography, the market of Covid-19 Impact on Cloud Office Services has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Rising IT Investment of Different Companies
- Rising Trend of Cloud Analytics & Big Data Implementation
- Rising Adoption of Managed Services
- Opportunities in the Asia Pacific Region
- Short-term Challenges due to Reduced Operations Across Different Industries & Economic Crisis caused by COVID-19 Pandemic Across the World
Stringent Government Regulations Regarding Lock-Down of Cities & Shutting Down of Operations Across Different Industries Across the World Due to the COVID-19 Pandemic is Impacting the Demand for Cloud Office Services
Analyst CommentSince the COVID-19 virus outbreak in December 2019, the disease has spread to more than 200 countries across the world along with the World Health Organization declaring it a public health emergency. The global impacts of the coronavirus disease 2019 (COVID-19) are already starting to be felt, and will affect the cloud office services market in 2020. The outbreak of COVID-19 has brought effects on many aspects, like scheduled public transportation cancellations; downfall in the real estate sector; travel bans and quarantines; closed operations across hotels & restaurants; banning of public gatherings & events; large slow-down in the supply chain of different markets; stock market unpredictability; declining business assurance, and uncertainty in the future market dynamics.
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