DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/vgshnf/global_sme_cloud) has announced the addition of the "Global SME Cloud Market 2015-2019" report to their offering.
The Global SME Cloud market 2015-2019, to grow at a CAGR of 20.2% over the period 2015-2019
The adoption of cloud-based services is increasing worldwide. Many large enterprises are already experiencing the benefits of using cloud-based technology for their business operations. The scenario is shifting toward SMEs because they can avoid investment on IT infrastructure and reduce operational costs by adopting cloud-based technology for their daily business operations. Cloud also improves performance, efficiency, and security of business operations as well as data. There are many vendors offering cloud-based solutions to SMEs as per their business requirements.
A few SMEs have already adopted cloud-based technologies for their business continuity and development. Cloud is considered to be a suitable solution for all industry verticals because of features such as flexibility, automatic software upgrades, enhanced communication, and ease of collaboration between enterprise users. Moreover, SMEs are asked to pay only for the services utilized by them.
Customized solutions that suit their specific business needs is one of the key trends emerging in the market. This trend is expected to gain increased market traction during the forecast period. SMEs are price-sensitive and therefore only opt for features that add value to their overall business paradigm.
According to the report, the need to reduce IT infrastructure investment especially among SMEs is one of the key drivers of the market. SMEs worldwide have started to adopt cloud-based solutions to cut their overall CAPEX and OPEX by transferring their on-premise infrastructure to a cloud. Cloud-based solutions also enable enterprises to reduce their storage costs considerably.
Further, the report states that concerns over the security and privacy of data stored in clouds have increased. The encryption and decryption mechanisms that are used for running applications and storing data have shown tangible improvement over the years. The security of business data remains a key concern for many enterprises, especially when these data are managed by an unknown third party. This is affecting the adoption of cloud-based solutions at present.
Other Prominent Vendors
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