Enterprise application is particularly constructed software that businesses use to assist the organization in solving enterprise problems. Earlier the concept was restricted to keeping financial accounts, manufacturing, marketing, sales, distribution, stock and order management, human resources and resources planning but in recent time role of enterprise application has transformed from back-offices activities to business process advancement. Enterprise application provides advantages such as enhanced customer involvement, quality control and effective handling of accessible sources and industry insights, that enables sufficing demand of internal & external customers. An enterprise application aids to integrate their business functionalities to attain increased efficiency and productivity. Various organizations are deploying enterprise application to make sure to improve profitability and increase their working capacity. Implantation of enterprise application grants the businesses to consolidate their operations with customers, suppliers and channel partners.
Rising preferences for remote access in staff member, increasing mobile penetration providing varied applications and acceptance of cloud computing based technology drives the market growth of enterprise application. Furthermore, customer oriented approach of organizations and competitive advantages provided by the software, escalating requirement for multimedia device and growing demand for real time data access further boosts the growth of the market. However, hefty cost of enterprise application which is not bearable by small scale vendors and other alternative available open sources application are constraints of the market that might retard the further development of the market.
Global Enterprise Application market has been segmented majorly on the basis of deployment, solution, application and end-user. On the basis of deployment the market is bifurcated into On-premise and cloud based. Depending upon the solution the market is segmented into BI, BPM, CMS, CRM, EAM, ERP, SCM, Web conferencing and others. Based on the applications the market is bifurcated into brand reputation, competitive intelligence, customer relationship management, fraud detection and Predictive analytics. Based on the end –user the market is divided into telecommunication, aerospace and defence, BFSI, FMCG, Government, healthcare and pharmaceuticals, manufacturing and retail.
By geography, global Enterprise Application market is studied across North America, Europe, Asia-Pacific, and LAMEA. North America accounts for the largest market share contributing the highest revenue owing to adoption of advanced technology and customer centric approach of companies. Adoption of enterprise application lowers an overall operation expense that leads to increased earnings of the company. In addition North American market expansion is highly aided by existence of global software vendors such as Oracle, IBM Corp, SAP, HP and Microsoft Corp etc. Europe and Asia-Pacific is foreseen to be the potential market and is anticipated to showcase elevated growth ascribing to upsurge in number of start-ups and rising adoption of cloud based solutions among small and medium scale businesses.
Market Key Players
Dassault Systèmes, Epicor Software, Hewlett-Packard, IBM , IFS AB, Infor , Microsoft Corporation, Oracle , QAD Inc., SAP
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