G Suite technology services market reported a revenue generation of nearly US$214 million in 2017 and is expected to witness a 1.2x growth in 2018, according estimations by to Fact.MR.
Overall market growth is likely to be driven by:
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Growing emphasis on the utilisation of business productivity tools
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Small and medium organisations leveraging concise and affordable business solutions offered by Google Cloud
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Ongoing cloud migration across industries
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Identification of collaborative tools' potential in increasing employee productivity
Apart from its cloud-first nature, the steadily rising adoption of G Suite technology services can be attributed to the ongoing industrial transformation in terms of digitalisation, cloud migration and implementation of cognitive AI solutions," says a Fact.MR senior analyst.
"Demand for business productivity tools is set to rise in the coming decade on the back of increasing appetite of businesses for smarter and remunerative approaches. While larger organisations are already witnessing active utilisation of productivity tools, small and medium enterprises are likely to look for G Suite technology services that fit well in their tight budgets.
According to a Fact.MR study, small and medium enterprises (SMEs) have been prominent end-users of the services.
In 2018, revenues from SMEs are likely to surpass US$190 million, whereas utilisation of G Suite technology in large enterprises is estimated to grow by 20% in 2018.
Fact.MR analysts add that among various services offered by G Suite technology, adoption of design and deployment services continues to register largest revenues.
Retail solutions offered by G Suite technology are gaining traction among businesses.
The retail industry is likely to register a bulk of demand and is expected to account for nearly US$36 million in 2018.
The study suggests that the G Suite technology is highly sought after by the education industry and around 80 million students across the globe are using the services.
In 2018, the education industry will hold nearly 13% of the global revenue.
The study opines that the media and advertising industry is expected to outsell the education and retail industries in terms of G Suite technology services revenues by 2028.
The G Suite technology services market is likely to grow at an impressive rate and register over 26% CAGR through 2028.
