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Enterprise Application Market share to exceed $287.7bn by 2024

Press Release   •   Jan 27, 2017 06:00 EST

Overview

According to the new market research report “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 (U.S., Canada, UK, Germany, Japan, China, India, Mexico, Brazil), Application Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2024” Global Enterprise Application Market share contributed about $151 billion for 2015 and predicted to reach $287.7bn by 2024.

Execution of these applications help real time data flow and smooth business process implementation. Further, it also helps in value enhancement through better supply chain management and this in turn is projected to fuel industry growth during forecast period.

Rising choice for remote access and smartphone evolution is predicted to enhance use of data and value added service which in turn supports industry demand. In addition to this, availability of inexpensive and multi-functional items is projected to favorably impact revenue growth. Increasing customer choice for multimedia equipment along with mobile equipment growth is also predicted to fuel the industry demand as multimedia enabled equipment offer more features with information security over web.

However, easy accessibility of open source solutions can hinder global enterprise application industry expansion. The reason for this being that these solutions act as a replacement for enterprise applications which incur heavy implementation costs as well as high maintenance charges.

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Product Insights

Global enterprise application industry is segmented into products like content management system, enterprise resource planning, business intelligence, customer relationship management, supply chain management, business process management and enterprise asset management.

Enterprise resource planning (ERP) segment contributed more than 20.1% of global enterprise application market share for 2015. It is projected to register CAGR of about 7.71% during forecast

timeline. Increasing requirement to mechanize back office functions and real time data flow is anticipated to fuel segment growth.

Content management systems (CMS) segment is predicted to experience substantial expansion due to increasing demand for digital content management. It is anticipated to register CAGR of about 13.6% during forecast period and estimated to contribute more than $8.6 billion in revenue form by end of 2024.

Customer relationship management (CRM) segment has grown due to rising consciousness about consumer engagement management (CEM). It is projected to contribute more than 25.1% of global enterprise application market share by end of forecast timeline.

End use Insights

Global enterprise application market is segmented into various end uses like telecom & IT, retail, manufacturing, aerospace & defense, BFSI, government and healthcare.

Healthcare segment contributed more than $16.6 million for 2015 and is anticipated to register CAGR of 8.91% during forecast timeframe. Growth of the segment can be attributed to increasing requirement for real time information transparency across the segment.

Retail segment contributed more than 15.1% of revenue for 2015. Expansion of the segment can be credited to rapid acceptance of enterprise solutions for improving consumer experience and value proposition.

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Deployment Insights

Global enterprise application industry is segmented into varied deployments like cloud deployment and on premise deployment.

Cloud based enterprise application market share is predicted to witness significant expansion due to less technology infrastructural price, high level of accessibility, disaster recovery, minimum capital involvement and efficient project monitoring. This segment contributed more than 30.1% of total revenue during 2015. Rising web infrastructure is projected to promote adoption of cloud based deployment during forecast timeline.

On-premise deployment segment is anticipated to register significant growth due to its increasing deployment in computers by firms. It is projected to register CAGR of about 4.6% in future.

Regional Insights

Global enterprise application market is segmented into geographical locations like Europe, MEA, North America, APAC and Latin America.

U.S. enterprise application market contributed more than $30.1 billion for 2015. North American industry is predicted to contributed more than 30.1% of overall revenue by end of forecast period. Industry expansion in the region can be attributed to factors like flexible organization structure and consumer centric approach of firms.

APAC enterprise application industry is projected to register significant expansion due to rising amount of startup firms along with presence of large amount of small scale firms in the region. It is predicted to register CAGR of about 9.51% during forecast timeframe and projected to contribute about $75.1 billion in revenue terms by end of 2024.

The regional industry growth is credited to factors like Chinese producers developing cost effective enterprise solutions and technological breakthroughs along with development of lightweight, innovative and compact equipments predicted to provide growth avenues.

Competitive Insights

Key industry players profiled in the report are Hewlett-Packard Company, IFS AB, Microsoft Corporation, Oracle Corporation, Epicor Software Corporation, QAD, IBM Corporation, Infor Incorporation and SAP AG.

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