The global market for G Suite business software is projected to expand significantly, increasing from US$ 2,224.76 million in 2021 to US$ 3,903.72 million by 2028. This growth represents a compound annual growth rate (CAGR) of 8.4% during the period from 2021 to 2028.
G Suite offers a suite of professional services and productivity tools designed to help businesses stay organized and connected, effectively addressing client needs. The software suite aids service professionals in safeguarding sensitive client data through tools like Google Drive, Google+, and Google Sites. These tools facilitate secure data sharing, while mobile device management and encryption ensure data security on mobile platforms. Additionally, Google Docs and Google Slides empower professionals to collaborate seamlessly with clients and partners from remote locations.
The integration of third-party applications with G Suite enhances team efficiency by eliminating issues related to version control and edit locking. For example, Calendly integrates with Google Calendar, providing customized scheduling solutions that streamline appointment management in professional services. Businesses can also gather insights and feedback from employees and clients using Google Forms. A notable example is Hypatia Create by Hypatia Systems Inc., which simplifies the creation of mathematical equations within Google Docs, Slides, and Forms. Another useful tool is Timer + Proctor by Autoprocter, which supports various e-learning and online classroom formats. The widespread adoption of G Suite business software among professional service providers is driving its increasing demand.
Impact of the COVID-19 Pandemic on the G Suite Business Software Market
The COVID-19 pandemic has had a profound impact on businesses worldwide. The surge in virus cases led governments to impose travel restrictions, lockdowns, and business closures, resulting in decreased production across various sectors. Industries such as manufacturing, automotive, electronics, oil and gas, mining, and aviation experienced significant operational declines due to these temporary shutdowns.
The pandemic brought about uncertainty and emotional distress globally, compelling businesses to provide essential resources to their stakeholders during the crisis. Effective communication became crucial in navigating these challenges. Consequently, there was a remarkable increase in the use of Google Meet, a video conferencing tool, as organizations sought to maintain productivity with remote workforces. In March 2021, Google Meet's usage grew by over 60% day-over-day, and its daily usage surged to more than 25 times the levels seen in January 2020. Despite this surge, the demand remained manageable within the network's capacity. Recognizing the importance of connectivity for business continuity, Google LLC made advanced features of Google Meet available for free to all G Suite users globally.
As many individuals transitioned to remote work and learning environments due to the pandemic, there was a growing interest in enhancing skills and acquiring knowledge from home. To support this shift, Google Cloud offered a range of learning tools, including a comprehensive catalog of training courses, hands-on labs via Qwiklabs, and interactive webinars through Cloud OnAir, all available at no cost. Users could gain practical cloud experience through these labs, learning to prototype applications and build predictive models remotely. Additionally, teams could enhance their skills by accessing on-demand courses from platforms like Pluralsight and Coursera.
The G Suite business software market is categorized by type into administration software, ERP software, finance software, HR software, and others. In 2020, the ERP software segment held the largest market share within the G Suite business software sector. By end-user classification, the market is divided into individual and enterprise segments, with enterprises accounting for a larger share in 2020. Geographically, the market is segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM), with North America holding the largest share in 2020.
The overall size of the G Suite business software market has been determined through extensive primary and secondary research. The research process began with thorough secondary research utilizing both internal and external sources to gather qualitative and quantitative data related to the market. This approach provided a comprehensive overview and forecast of the G Suite business software market across all segments. Primary interviews with industry participants and experts were also conducted to validate the data and gain deeper analytical insights. Participants included industry leaders such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants specializing in the G Suite business software market.
Key players in the G Suite business software market include GROOVE, MAILTRACK.IO, Calendly, NetHunt Inc., Mixmax, Salesforce.com, Inc., Rewardly, Inc., Zendesk, Expensify, Inc., and Freshworks Inc..