The global SAP cloud platform services market that is currently representing just about 0.08% of total cloud market is predicted to be worth $ 450 Million in 2023, however, the market expected to grow at a very strong CAGR of 35% during the forecast period of 2023 to 2030. On the back of remarkable growth prospects in the forecast period, the demand for SAP cloud platform services is likely to remain bullish. This is due to the fact that an increasing number of small- and large-scale enterprises are investing in SAP cloud platform services in order to improve their business performance. An increase in the acceptance of SAP cloud platform services and business agility by verticals are increasing demand for cloud-based applications, which in turn is contributing to an increase in the efficiency of businesses.

End users of SAP cloud platform services are required to efficiently harness the benefits of the platform, such as employing migration services to migrate data or other information from one legacy system to another. This is one of the requirements for adopting SAP cloud platform services. As a result, the high cost of these services makes it difficult for small and medium-sized enterprises to implement such technologies, which demand large investment in services; as a result, the growth of the SAP cloud platform services market is hampered.

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The report estimates that the revenue generated from small and medium enterprises is projected to grow at a CAGR of 32% over the course of the forecast period of 2023 to 2030.When it comes to the adoption of SAP cloud platform services, small and medium-sized businesses are quickly becoming some of the most lucrative end consumers. When compared to on-premise deployment, the costs associated with cloud computing are significantly lower; as a result, small and medium-sized organisations are increasingly concentrating their attention on cloud computing services. SAP cloud platform services are not an exception to this trend.In addition, large businesses have a higher affordability quotient when it comes to the on-premise deployment services they purchase in comparison to small and medium-sized businesses.

According to the findings of the research report, large businesses are projected to show a greater interest in utilising the cloud platform services offered by SAP in the near future. The report reveals that the value of migration services as a service category would grow at the highest CAGR of 32%during the forecast period of 2023 to 2030. While The strategy and consulting service type represents the greatest market share and it is anticipated to expand at a CAGR of 30% during the forecast period.  BFSI of all end user segment contributes largest to the market revenue with the share of 17% in 2021.

In the year 2021, the market share held by North America dominated with 35% of global revenue share. It is projected that it will continue to maintain its dominance during the forecast period creating an incremental opportunity in the market. Additionally, it is expected that the European market for SAP cloud platform services would increase at a CAGR of 32 % to achieve a share of 26.5 % of the global market for cloud platform services by the end of the forecast year 2030.

The companies SAP SE, Accenture Plc., Wipro Limited, Infosys Limited, Capgemini SE, Atos SE, DXC Technology, HCL Technologies, Cognizant Technology Solutions Corp, and Tata Consultancy Services Limited, amongst others, are the primary competitors in this market. The tier 1 corporations are putting a strong emphasis on the creation of new products as well as innovation in order to mitigate the limitations of traditional technologies and strengthen their position in the market.

Key Market Trends

• The global SAP cloud platform services market that is currently representing just about 0.08% of total cloud market is predicted to be worth $ 450 Million in 2023, however, the market expected to grow at a very strong CAGR of 35% during the forecast period of 2023 to 2030.
• Small and medium enterprises is projected to grow at a CAGR of 32 % over the course of the forecast period of 2023 to 2030.
• Migration services as a service category would grow at the highest CAGR of 32% during the forecast period of 2023 to 2030.
• The strategy and consulting service type represents the greatest market share and it is anticipated to expand at a CAGR of 30% during the forecast period. 
• BFSI of all end user segment contributes largest to the market revenue with the share of 17% in 2021.
• In the year 2021, the market share held by North America dominated with 35% of global revenue share.
• European market for SAP cloud platform services would increase at a CAGR of 32 % to achieve a share of 26.5 % of the global market for cloud platform services by the end of the forecast year 2030.
• The companies SAP SE, Accenture Plc., Wipro Limited, Infosys Limited, Capgemini SE, Atos SE, DXC Technology, HCL Technologies, Cognizant Technology Solutions Corp, and Tata Consultancy Services Limited, amongst others, are the primary competitors in this market.
• The tier 1 corporations are putting a strong emphasis on the creation of new products as well as innovation in order to mitigate the limitations of traditional technologies and strengthen their position in the market.

*Complete segmentation list is on report page