North America enterprise application market is predicted to dominate the industry with 30% of the revenue in the forecast timeline. It can be attributed to organizations’ increasing customer centric approach and dynamic structure. Rising focus toward the reduction of operational costs will further fuel the regional growth. Asia Pacific is expected to grow at a CAGR of 9.5% and will account for USD 75 billion during the forecast time frame. Moreover, the development of innovative devices and increasing technological advancements will propel the growth of the enterprise application market in the region.
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Technological advancements and digitization is setting high goals for the enterprise application market, which is expected to hit a revenue of USD 287.7 billion by 2024, as per Global Market Insights, Inc. Enterprise application is a highly complex system deployed across corporate bodies to ensure real- time information flow along with smooth business operations. Growing demand for efficient IT infrastructure, rising internet connectivity, rapid adoption of cloud computing technologies, and growth in smartphones and mobile devices are the vital factors influencing the enterprise application market share worldwide.
A huge adoption trend across various end-use industries such as Healthcare, BFSI, Manufacturing, Government, Retail, Telecom & IT, and Aerospace & Defense is boosting the global enterprise application market size. Enterprise application provides these industries with a wide set of solutions such as CRM, SCM, ERP, Business Intelligence [BI], Web Conferencing, BPM, EAM, and CMS. These solutions enable the users with better inventory management, quality management, customer engagement, and supply chain management.
ERP market which accounted for 20% of the overall enterprise application share in 2015, is anticipated to register a CAGR of 7.7% over the coming eight years. Website content management, which has become an integral part of any organization is driving the growth of the CMS (Content Management System) market. CMS market share is estimated to exceed USD 8.5 billion by 2024. Owing to the growing demand for customer engagement management, CRM segment will also witness significant growth over the coming years, accounting for over 25% of the overall enterprise application market share by 2024.
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Novel IT developments like Big Data and Internet of things will bring immense growth opportunities for the Enterprise Application Market players. The participants will spend largely on R&D to develop innovative products and solutions in order to meet growing technological needs and most importantly to sustain competition. Startups and small scale industries will also share decent business space over the coming timeframe. Key market participants are IBM, Oracle, , Microsoft, SAP, Epicor Software, IFS, Infor, Hewlett-Packard, and QAD.
Some Points From Table Of Content: –
Chapter 3. Enterprise Application Market Insights
3.1. Industry segmentation
3.2. Industry Size and forecast, 2013 – 2024
3.3. Industry ecosystem analysis
3.3.1. Vendor matrix
3.4. Industry Impact forces
3.4.1. Growth drivers
220.127.116.11 Cloud computing adoption
18.104.22.168 Competitive edge
22.214.171.124 Escalating multimedia device demand
3.4.2. Industry pitfalls & challenges
126.96.36.199 Substantial maintenance and implementation cost
188.8.131.52 Open source application availability
3.5. Growth potential analysis
3.6. Porter’s analysis
3.7. Key competitor landscape
3.8. PESTEL analysis
Chapter 4. Enterprise Application Product Insights
4.1. Enterprise application market share by product, 2015 & 2024
4.2.1. Market estimates and forecasts by region, 2013 – 2024
4.3.1. Market estimates and forecasts by region, 2013 – 2024
4.4.1. Market estimates and forecasts by region, 2013 – 2024
4.5. Web Conferencing
4.5.1. Market estimates and forecasts by region, 2013 – 2024
4.6.1. Market estimates and forecasts by region, 2013 – 2024
4.7.1. Market estimates and forecasts by region, 2013 – 2024
4.8.1. Market estimates and forecasts by region, 2013 – 2024
4.9.1. Market estimates and forecasts by region, 2013 – 2024
4.10.1. Market estimates and forecasts by region, 2013 – 2024
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