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Enterprise Application Market Size By Product (CRM, ERP, SCM, Web Conferencing, Business Intelligence [BI], BPM, CMS, EAM), By End-Use (Manufacturing, BFSI, Healthcare, Retail, Government, Aerospace & Defense, Telecom & IT), By Deployment (On-Premise, Cloud), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2016 – 2024

  • Report ID: GMI701
  • Base Year: 2015
  • Report Format: PDF

Industry Trends

Enterprise Application Market size surpassed USD 150 billion in 2015 and will register over 5% CAGR from 2016 to 2024.

Europe Enterprise Application Market By End Use

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The enterprise application market growth is driven by the rising need among organizations to have a single solution that assists in solving problems related to the business. They deploy enterprise application software, which integrates various applications including business intelligence, supply chain management, customer relationship management, and e-commerce systems, which can be customized for critical business requirements and deployed on various platforms across corporate networks. As enterprises are rapidly expanding their businesses, they need business-oriented enterprise applications, which encode business policies, rules & process, and is developed in accordance with specific business requirements. With the rising number of mobile users at the workplace, these applications help to enhance the performance of employees. This also helps them to make the communication process easier, improves business efficiency, and enables them to identify new market opportunities for revenue generation.

By Product

North America Enterprise Application Industry By Product

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The Business Intelligence (BI) segment is expected to hold a market share of above 10% by 2024 due to the growing demand for analytics software to understand the complex business data without hassle. BI solutions gather, analyze, and transform raw data into meaningful reports, which can provide businesses with valuable insights to support their decision-making process. Small and large enterprises are widely using BI tools for achieving strategic corporate goals, which include business health planning, KPI measurement, and cost-effective deployment of resources.  

The Customer Relationship Management (CRM) market is expected to exhibit a growth rate of over 10% from 2016 to 2024. The market growth is attributed to various benefits associated with the deployment of CRM software including, increased team collaboration, better client relationships, and increased productivity & sales. The software enables managers to understand customer data and tailor their marketing communications to achieve more effective results.

By End Use

The BFSI enterprise application market is projected to grow at a CAGR of above 5% over the forecast timeline. As the banking sector involves complex data volumes, operational challenges, and security concerns related to data financial institutions need a comprehensive solution, which helps to synchronize and integrate financial processes, human resource management, and support services. The hyperconnected networks of banks and other financial institutions are compelling them to use enterprise application software to enhance customer experience and drive profitability.  

By Deployment

MEA Enterprise Application Market By Deployment

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The on-premise deployment model held a dominant market share in 2015 and is estimated to maintain its dominant position by 2024. The large market share is attributed to the extensive usage of proprietary enterprise application software, deployed in-house by specialized IT development team of the organization. Organizations prefer on-premise software deployment as the security of enterprise data & applications is their top concern. The enterprise application software stores business-critical information such as the company financials, corporate trade secrets, and employee information, making it necessary for them to have full control over the software and ensuring that the information remains secure. 

 By Region

The North America enterprise application market is expected to witness a growth rate of over 5% due to the advanced cloud infrastructure and the growing trend of enterprise mobility. The spending on cloud computing platforms has increased considerably over the past few years, which will accelerate the adoption of the cloud-based enterprise application software. It is estimated that federal agencies are planning to move 272 information technology programs to the cloud in fiscal 2020 to help technology companies leverage the cloud-related market opportunities. The presence of a huge cluster of the market players in the region is also supporting market growth.

Competitive Market Share

The market players are focusing on product innovation and customization to provide unique solutions to existing and potential customers. In November 2015, SAP released S/4 HANA Enterprise Management platform, which simplifies the application layer of areas outside finance and supports business operations. In June 2016, IBM introduced the next generation of IBM MobileFirst Foundation on its IBM Cloud to foster mobile application development. This enabled enterprises to use tools as per their choice for creating compelling mobile experiences with high performance and security. 

Some of the major enterprise application industry players include Epicor Software Corporation, Hewlett-Packard Company, IBM, SAP AG, QAD Inc., Oracle, Microsoft, IFS AB, and Epicor Software Corporation.

Industry Background

Enterprises are changing the way they deliver services and transforming their IT infrastructure to meet the changing business requirements. The advent of mobiles along with the consumerization of IT has put immense pressure on business applications. Traditionally, they deployed enterprise software in-house to ensure smooth business operations. However, with the rising popularity of cloud platforms, they began deploying software in the cloud to improve business process efficiency and productivity. As enterprises are seeking out new ways to use their resources more efficiently, the demand for enterprise application software increases.

Authors: Ankita Bhutani, Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of enterprise application surpassed USD 150 billion in 2015.

The industry share of enterprise application will register over 5% CAGR to 2024.

Need for a single solution for business problems and integrate applications such as business intelligence, CRM, and supply chain management are fueling the adoption of enterprise application software.

North America market is poised to witness a growth rate of over 5% till 2024 due to advanced cloud infrastructure and the growing trend of enterprise mobility.

Business Intelligence segment will witness substantial demand in the future on account of escalating demand for analytics software to understand complex business data easily.

The Customer Relationship Management (CRM) segment is expected to exhibit over 10% CAGR till 2024 driven by various benefits associated with the deployment of CRM software including, increased team collaboration, better client relationships, and increased productivity & sales.

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Premium Report Details

  • Published Date: Aug 2016
  • Companies covered: 9
  • Tables & Figures: 114
  • Countries covered: 10
  • Pages: 95

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