The market for G Suite technology services is expected to raise at a CAGR of 21% during the forecast period 2022 to 2030. The market for G Suite technology services is projected to be driven by two key factors such as the increased emphasis on the use of business productivity tools and the ongoing cloud migration across industries, etc. In addition, small and medium-sized businesses are utilising cost-effective business solutions and locating collaborative technologies that aid in boosting staff efficiency. The ongoing industrial transformation is driving cloud migration, digitization, and the installation of cognitive AI solutions at premises.
The workforce's improved proficiency with mobile and digital technology has led to a rapid uptake of digital technologies, which has revolutionised workplace digitalization and the way that employees engage with their workplaces. Businesses and organisations are utilising the G Suite technological services to boost employee happiness and corporate effectiveness. Additionally, the use of these services creates a more efficient, centralised, and flexible working environment that is suited for employees. Businesses are moving to cloud-based ecosystems where projects are managed through team communication and problems are resolved by active participation in an effort to improve customer relations.
Services for Training and Support Leads the Services Market for the G Suite
Businesses use training and support services as a critical tool to increase corporate productivity. The use of G Suite technology services for virtual and in-person training is growing among employees. In order to meet end-user demand and provide a better user interface experience, it also provides training and support services. Businesses focusing on training and support are using G Suite technology services. This is because G Suite customers have access to a number of different training and support services.
Retail Remains as the Key End User Segment
G Suite technology is projected to see significant demand in the retail during the forecast period. 20% of the market is currently (2021) accounted for by the retail sector. The market for retail G Suite technology services is expanding due to factors including improved customer experience, increased operational efficiencies, and more employee engagement with adaptable and practical retail collaboration solutions.
More than Half of the Revenues are Generated by Large Business
Small and medium-sized businesses and large businesses make up the two market segments based on the size of the organisations. Large businesses currently control 55% of the worldwide market. This is attributable to the increased importance placed on employee happiness as well as the availability of support and training services both in-person and online. However, due to the rising use of G Suite technology services in organisations to satisfy unique requirements and to improve customer relationships, small and medium-sized enterprises are predicted to grow at a higher CAGR than large enterprises. Therefore, it is anticipated that small and medium-sized businesses will expand at a CAGR of 12% during the forecast period 2022 to 2030.
North America to Dominate and Europe to Follow
By accounting for almost 25% of the global market for G Suite technology services, North America remained as the global leader in 2021. The growth of small and medium-sized businesses in North America is a significant factor that is motivating the market growth in this region. Despite GDPR compliance difficulties, Europe held the position of second largest market for these services in 2021 because G Suite offers consumers the option to choose the location of their data storage.
Market Remains Fragmented and Extremely Competitive
Due to the presence of numerous domestic and regional companies, the worldwide G Suite technology services market is extremely fragmented and competitive. Key players are adoption various strategies, including mergers & acquisitions, expansions, collaborations, and partnerships. Additionally, the key players are focusing on new product development as a strategic way to enhance their market position among the consumers. Key market players in this segment include SADA Systems, Agosto, Inc, Maven Wave Partners LLC, Capgemini SE, Perpetual West Inc and Others.
Historical & Forecast Period
This study report represents analysis of each segment from 2020 to 2030 considering 2021 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2022 to 2030.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of G Suite Technology Services market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
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Key questions answered in this report