Oracle Services Market Research Report 2024
Oracle Services Market Global Industry Analysis and Forecast (2024-2032) By Service (Consulting Service, Financial Service, Cloud Service), Enterprise Size (Small and Medium Enterprise, Large Enterprise), Industry Vertical (BFSI, High Tech, Communication & Media, Retail & CPG, Energy & Utilities, And Healthcare & Life Sciences, Public Sector, IT & telecom), And Region
Oracle Services Market Synopsis
Oracle Services Market Size Was Valued at USD 15.84 Billion in 2023 and is Projected to Reach USD 54.86 Billion by 2032, Growing at a CAGR of 14.8% From 2024-2032.
Oracle Net Services consists of different software packages that allow client applications to create and sustain network connections with Oracle Database servers.Oracle Services have a wide range of applications by meeting the diverse requirements of businesses in various sectors. It aims to assist companies in handling various tasks, such as enterprise resource planning (ERP) and customer experience (CX) management. It consists of tools for managing finances, human resources, and supply chain operations, all connected to simplify business operations.Oracle Service Cloud is a cohesive platform that aids self-service, agent-assisted service, and field service processes. It is customized for particular sectors and applications, improving customer interaction and operational efficiency.
Oracle Service Cloud has features for analytics that provide a more in-depth understanding of customer behavior and service performance.Oracle's Development Services provide a wide range of resources for developers to create cloud-based applications, utilizing artificial intelligence and simplified coding techniques. These services additionally prioritize enhancing security, observability, and developer experience. Oracle Business Intelligence Offers enhanced analytics features that support organizations in converting data into practical insights. This involves providing reporting, dashboards, and predictive analytics for aiding strategic decision-making.
Oracle Communications Solutions offers services for customer management, network operations, and revenue assurance to the telecommunications sector. These apps are created to improve network efficiency. Oracle Configure, Price, Quote (CPQ) is a sales tool that simplifies the sales process by automating the configuration, pricing, and quoting of products or services.Oracle Content Marketing is a tool designed for overseeing content marketing efforts. It allows for the development, circulation, and evaluation of marketing materials, with the goal of better connecting with audiences. Oracle CRM On Demand is a solution for managing sales, marketing, and customer service that aids businesses. It provides resources for managing leads, predicting sales, and analyzing customers.Oracle’s cloud services and license support division is the company’s most profitable business segment, bringing in over 35 billion U.S. dollars in its 2023 fiscal year. That year, Oracle brought in an annual revenue of nearly.
Top Active Players Involved Are:
“Accenture (Ireland), Capgemini (France), Deloitte (United States), Infosys (India), Tata Consultancy Services (India), Wipro (India), Cognizant (United States), IBM (United States), HCL Technologies (India), PwC (United Kingdom), NTT DATA (Japan), Tech Mahindra (India), Oracle Corporation (United States), DXC Technology (United States), Atos (France), CGI Group (Canada), Fujitsu (Japan), BearingPoint (Netherlands), Mindtree (India), L&T Infotech (India), Virtusa (United States), EY (United Kingdom), KPMG (Netherlands), Hitachi Consulting (Japan), Capita (United Kingdom) and Other Active Players.”
Oracle Services Market Trend Analysis
Growing Trend of Digital Transformation
- The rise of digital transformation is a main factor in the Oracle services sector, leading to significant changes in how businesses function and interact with their clients. This change is supported by the continuous progress of technology, it is a fundamental element for introducing new ideas and improving productivity. Businesses are growing towards Oracle’s range of services to harness the benefits of digital transformation.
- Oracle offers a wide range of cloud services such as software as a service (SaaS), platform as a service (PaaS), and infrastructure as a service (IaaS), giving companies the ability to expand their operations, improve resource allocation, and enhance agility. These options allow companies to utilize the advantages of big data, artificial intelligence, and machine learning for ahead detailed insights, and analytics.
- Oracle services support digital transformation by not only embracing technology but also promoting a culture of innovation and ongoing improvement. While going through this transformation, companies can dismantle silos, promote collaboration, and adopt new working methods that are better suited for the digital era.
- The incorporation of Oracle services in digital transformation strategies also tackles the urgent requirement for improved security and compliance. In a time when data breaches and cyber threats are common, Oracle's strong security measures offer assurance, enabling businesses to prioritize innovation without sacrificing safety. It is also increased by technological progress, the mission for operational efficiency, and the necessity to meet changing customer demands. Hence, in this way, the Growing Trend of Digital Transformation acts as a Driver in the Oracle Services Market.
Cloud Adoption
- The adoption of cloud services in the Oracle market offers a major opportunity, driving transformative growth and innovation. The move to cloud-based solutions is influenced by the requirement for services of today's businesses.
- Oracle's cloud services, like Oracle Cloud Infrastructure (OCI), aim to support businesses during their transition to digital transformation. Businesses can strategically utilize the OCI Cloud Adoption Framework (CAF) to ensure a well-planned transition to cloud services. The CAF offers an organized method that includes top practices and advice for governance, security, technology, operations, and finance, facilitating a seamless and efficient transition to the cloud.
- Oracle services for cloud adoption also bring chances to attach advanced technologies like AI, ML, autonomous databases, and blockchain. These new ideas have the potential to greatly improve efficient operations are carried out, how data is managed, and how decisions are made. Oracle offers a wide variety of cloud services such as Infrastructure as a Service (IaaS), Platform as a Service (PaaS), and Software as a Service (SaaS) to cater to the specific requirements of different organizations.
- The cloud is more than just a technological update it's a strategic decision that has the potential to reshape how an organization competes. By integrating Oracle cloud services, companies can enhance flexibility, boost performance, and lower overall ownership expenses. This shift allows companies to concentrate on their main strengths, and speed up product development. Cloud adoption in the Oracle services industry allows businesses to align with technology trends and set themselves up for long-term success. Hence, in this way, Cloud Adoption acts as an opportunity in the Oracle Services Market.
Oracle Services Market Segment Analysis:
Oracle Services market is segmented on the basis of Service, Enterprise Size, and Industry Vertical.
By Service, Cloud Service Segment Is Expected to Dominate the Market During the Forecast Period
- The Oracle services market is expected to be dominated by the cloud service segment, holding a considerable share. The changing digital environment has resulted in a growing need for cloud-based solutions that provide scalability, flexibility, and cost-efficiency. Businesses are more and more moving their activities to the cloud to benefit from offerings like Oracle's range of cloud services.
- Oracle's focus on advanced technologies such as AI, ML, autonomous databases, and blockchain is essential for maintaining its leading position. These new developments improve Oracle's cloud services and also offer erudite data management features that are in high demand in today's data-focused business landscape. Oracle's cloud services stand out by incorporating advanced features, which entice customers from different industries.
- The increase in the need for hybrid cloud platforms has been a significant factor. Hybrid clouds enable organizations to blend advantages from public and private clouds, providing a personalized solution to suit their particular requirements. Oracle's cloud services are well-equipped to meet this need by offering a smooth integration process and preservation of data security and regulatory compliance.
- The growing interest in business data storage and security solutions. As businesses increasingly rely on data as a crucial asset, there is an increasing demand for reliable and safe cloud storage selections. Oracle's cloud services tackle these issues by offering strong data protection measures, making them the highest choice for businesses seeking to secure their important data. Oracle's cloud service sector is positioned to lead because it is in sync with industry trends, technological progress, and the delivery of solutions. Hence, in this way By Service, Cloud Service Segment Is Expected to Dominate the Oracle Services Market.
By Application, IT & telecom Segment Held the Largest Share In 2023
- The IT and telecom segment's foremost place in the Oracle services market. The sector is experiencing a major change due to technological advancements, specifically the incorporation of AI and automation. This change requires strong, advanced solutions offered by Oracle services, improving operational efficiency and promoting innovation.
- The perfect alignment of AI capabilities, integrated seamlessly by Oracle managed services, meets the needs of the IT and telecom sector through automated customer assistance, network optimization, and predictive maintenance. These services streamline operations and provide predictive insights that can greatly cut downtime and operational costs, making them extremely valuable to companies in these industries.
- The essential role is played by the quick acceptance of cloud computing and other digital technologies by telecom operators to update their infrastructure and services. Oracle provides a wide range of cloud services that address changing requirements, providing scalable and secure solutions for the development and competitiveness of IT and telecom firms.
- The significant portion of revenue from this sector reflects Oracle's dominant site in the market and its capacity to meet the specific needs of IT and telecom companies. The growing need for cloud, consulting, and financial services in the industry strengthens Oracle's crucial position as the preferred provider for these companies. The substantial presence of the IT and telecom industry in the Oracle services market highlights the important role Oracle plays in aiding the technological advancement and operational effectiveness of companies in these sectors. Hence, in this way By Application, IT & telecom Segment Held the Largest in Oracle Services Market.
Oracle Services Market Regional Insights:
North America is Expected to Dominate the Market Over the Forecast Period
- The Oracle services market in North America is primarily due to a combination of factors including the strong technological infrastructure, economic strength, and innovation environment in the region. Mainly, the area houses many top companies and government organizations that require advanced Oracle services to handle their extensive operations and data.
- Oracle Cloud has practiced significant expansion in North America, catering to various organizations in different industries. The mature IT ecosystem in the region encourages widespread adoption, prompting businesses to invest in advanced software and services for operational optimization and improved decision-making abilities.
- North America's role as a center for technological advancement and research offers a conducive environment for the advancement and utilization of advanced Oracle services. This environment promotes teamwork and cooperation between important industry members, creating a space where advanced Oracle solutions are constantly enhanced and perfected to keep up with changing market demands.
- The stable economy and positive business climate in the region attract Oracle service providers due to the opportunity for substantial returns on investment. The aggregation of these elements leads to a positive cycle in which the need for Oracle services increases the expansion of the market, which in return encourages more innovation and investment. Hence, in this way, North America is Expected to Dominate the Oracle Services Market.
Oracle Services Market Active Players
- Accenture (Ireland)
- Capgemini (France)
- Deloitte (United States)
- Infosys (India)
- Tata Consultancy Services (India)
- Wipro (India)
- Cognizant (United States)
- IBM (United States)
- HCL Technologies (India)
- PWC (United Kingdom)
- NTT Data (Japan)
- Tech Mahindra (India)
- Oracle Corporation (United States)
- DXC Technology (United States)
- Atos (France)
- CGI Group (Canada)
- Fujitsu (Japan)
- BearingPoint (Netherlands)
- Mindtree (India)
- L&T Infotech (India)
- Virtusa (United States)
- Ey (United Kingdom)
- KPMG (Netherlands)
- Hitachi Consulting (Japan)
- Capita (United Kingdom) and Other Active Players
Key Industry Developments in the Oracle Services Market:
- In April 2024, Oracle Financial Services introduced an artificial intelligence-powered cloud service that helps banks mitigate anti-money laundering (AML) risks. The new cloud service enables banks to run inexpensive, hypothetical scenario testing to adjust thresholds and controls. With that testing, banks can sort through transactions, identify suspicious activity, and better meet their compliance requirements.
- In September 2023, Microsoft and Oracle expanded their partnership to deliver Oracle Database Services on Oracle Cloud Infrastructure in Microsoft Azure, which gives customers direct access to Oracle database services running on Oracle Cloud Infrastructure (OCI) and deployed in Microsoft Azure datacentres. It delivers all the performance, scale, and workload availability advantages of Oracle Database on OCI with the security, flexibility, and best-in-class services of Microsoft Azure, including best-in-class AI services like Azure OpenAI.
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Oracle Services Market |
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Base Year: |
2023 |
Forecast Period: |
2024-2032 |
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Historical Data: |
2017 to 2023 |
Market Size in 2023: |
USD 15.84 Bn. |
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Forecast Period 2024-32 CAGR: |
14.8% |
Market Size in 2032: |
USD 54.86 Bn. |
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Segments Covered: |
By Service |
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By Enterprise Size |
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By Industry Vertical |
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By Region |
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Key Market Drivers: |
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Key Market Restraints: |
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Key Opportunities: |
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Companies Covered in the report: |
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Chapter 1: Introduction
1.1 Scope and Coverage
Chapter 2:Executive Summary
Chapter 3: Market Landscape
3.1 Market Dynamics
3.1.1 Drivers
3.1.2 Restraints
3.1.3 Opportunities
3.1.4 Challenges
3.2 Market Trend Analysis
3.3 PESTLE Analysis
3.4 Porter's Five Forces Analysis
3.5 Industry Value Chain Analysis
3.6 Ecosystem
3.7 Regulatory Landscape
3.8 Price Trend Analysis
3.9 Patent Analysis
3.10 Technology Evolution
3.11 Investment Pockets
3.12 Import-Export Analysis
Chapter 4: Oracle Services Market by By Service
4.1 Oracle Services Market Snapshot and Growth Engine
4.2 Oracle Services Market Overview
4.3 Consulting Service
4.3.1 Introduction and Market Overview
4.3.2 Historic and Forecasted Market
Frequently Asked Questions
What would be the forecast period in the Oracle Services Market research report?
The forecast period in the Oracle Services Market research report is 2024-2032.
Who are the key players in the Oracle Services Market?
Accenture (Ireland), Capgemini (France), Deloitte (United States), Infosys (India), Tata Consultancy Services (India), Wipro (India), Cognizant (United States), IBM (United States), HCL Technologies (India), PwC (United Kingdom), NTT DATA (Japan), Tech Mahindra (India), Oracle Corporation (United States), DXC Technology (United States), Atos (France), CGI Group (Canada), Fujitsu (Japan), BearingPoint (Netherlands), Mindtree (India), L&T Infotech (India), Virtusa (United States), EY (United Kingdom), KPMG (Netherlands), Hitachi Consulting (Japan), Capita (United Kingdom) and Other Active Players.
What are the segments of the Oracle Services Market?
The Oracle Services Market is segmented into Service, Enterprise Size, Industry Vertical, and region. By Service, the market is categorized into Consulting Service, Financial Service, and Cloud Service. By Enterprise Size, the market is categorized into Small and Medium Enterprise, Large Enterprise. By Industry Vertical, the market is categorized into BFSI, High Tech, Communication & Media, Retail & CPG, Energy & Utilities, Healthcare & Life Sciences, Public Sector, IT & telecom. By region, it is analyzed across North America (U.S.; Canada; Mexico), Eastern Europe (Bulgaria; The Czech Republic; Hungary; Poland; Romania; Rest of Eastern Europe), Western Europe (Germany; UK; France; Netherlands; Italy; Russia; Spain; Rest of Western Europe), Asia-Pacific (China; India; Japan; Southeast Asia, etc.), South America (Brazil; Argentina, etc.), Middle East & Africa (Saudi Arabia; South Africa, etc.).
What is the Oracle Services Market?
Oracle Net Services consists of different software packages that allow client applications to create and sustain network connections with Oracle Database servers. Oracle Services have a wide range of applications by meeting the diverse requirements of businesses in various sectors. It aims to assist companies in handling various tasks, such as enterprise resource planning (ERP) and customer experience (CX) management. It consists of tools for managing finances, human resources, and supply chain operations, all connected to simplify business operations.
How big is the Oracle Services Market?
Oracle Services Market Size Was Valued at USD 15.84 Billion in 2023 and is Projected to Reach USD 54.86 Billion by 2032, Growing at a CAGR of 14.8% From 2024-2032.
