North America to lead the global market in terms of revenue generation from cloud business email solutions
The IT industry across the globe is witnessing revolutionary changes owing to the proliferation of advanced and innovative technologies that are fuelling global market growth. The advent of cloud in every aspect of business has made it convenient for enterprises to manage their day-to-day business activities, including business email solutions. Such technological advancements typically first hit the IT industry in North America, making the region the front-runner of all things technology. The cloud business email market in North America is poised to take advantage of the technological advancements in the region and emerge the largest regional market in terms of revenue contribution to the global market.
The cloud business email market in North America will grow 3.3X between 2017 and 2027
In terms of value, the North America cloud business email market was valued at US$ 631.2 Mn in 2016 and is anticipated to increase to US$ 1,732.2 Mn by 2027 end, registering a CAGR of 9.6% in terms of value during the forecast period. The North America market is expected to represent incremental opportunity of US$ 1,036.8 Mn between 2017 and 2027. Within the North America region, Canada is expected to be the largest market for cloud business email solutions, estimated to be valued at US$ 590.9 Mn in 2017 and reach a market valuation of US$ 1,505.0 Mn by 2027 end, representing a CAGR of 9.8% from 2017 to 2027. Growing adoption of cloud email with artificial intelligence: Business enterprises in North America increasingly use cloud email solutions to manage their day-to-day tasks. Several organisations have started implementing the G suite with add-on artificial intelligence features to offer improved delivery of enterprise email in a bid to attract customers. The G suite comprising artificial intelligence tools offers enterprise communications tools such as hangouts and word processing docs that help improve work productivity. This factor is boosting the regional market for cloud business email solutions.
Increasing adoption of hosted cloud services by financial institutions: Financial institutions across North America have been quick in the adoption of hosted cloud services across public clouds to ensure speedy delivery of financial services in a bid to meet changing industry and customer demands with more efficiency and greater ease of security concerns. This is significantly adding to the revenue growth of the North America cloud business email market.
Other regional cloud business email markets will witness sustained growth during the forecast period
After North America, Western Europe and APEJ will be significantly high growth markets in the global cloud business email market. The Western Europe market will represent incremental opportunity of US$ 498.5 Mn between 2017 and 2027 while APEJ will record incremental opportunity of US$ 823.2 Mn during the forecast period.
Trends observed in the global cloud business email market
North America: There is a high demand for email security solutions owing to an increasing adoption of bring your own device (BYOD) technology in business enterprises in North America. BYOD calls for enhanced device security by implementing business email security solutions to detect and prevent email phishing across digital and social channels.
APEJ: Provision of low price email application solutions for SMBs is a new trend witnessed in the APEJ cloud business email market. There has been a steady rise in the number of small and medium enterprises in India. Cloud service providers in the subcontinent currently manage email application solutions and services to help enterprises secure their custom email accounts accessed by employees through BYOD technology. Email application solutions enable full synchronisation of email on mobile devices such as smartphones and tablets, while ensuring enhanced security features and a superior email experience.
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