Google Docs is a competitor, but that doesn't necessarily mean it can take significant market share from Microsoft, especially among customers deeply embedded in the Microsoft ecosystem.
The reverse is also true: companies that are heavily invested in Google Workspace, GCP, and related tools are unlikely to switch to Office 365.
That said, there are exceptions. Legal professionals, for instance, often require the standard: Microsoft Word. And for advanced tasks, Google Sheets falls short of what Excel can do.
Docs had a big head start over Office 365, but Microsoft kept working toward the goal of desktop Office feature parity and document compatibility, which they basically ultimately delivered.
The reverse is also true: companies that are heavily invested in Google Workspace, GCP, and related tools are unlikely to switch to Office 365.
That said, there are exceptions. Legal professionals, for instance, often require the standard: Microsoft Word. And for advanced tasks, Google Sheets falls short of what Excel can do.