Enterprise Application Market

The global enterprise application market size is anticipated to register a considerable CAGR during the forecast period, 2021-2028. The growth of the market is attributed to the implementation of these solutions, which enables real-time and accurate business information flow between every sector in enterprise.

Enterprise application solutions are made up from secondary markets, such as customer relationship management (CRM), software configuration management (SCM), supply chain management (SCM), enterprise resource management (ERM), business process management (BPM), and other such solutions. These solutions helps enterprises in tracking manufacture from procurement to distribution to the end-user and help in handling finance and each of these secondary markets have multiple other functional domains. They are used to integrate core business processes on a single server architecture in real-time. These solutions are deployed in organizations to automate business processes with enormous amount of complex data, associate enterprises with suppliers, and customers across the globe.

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The COVID-19 pandemic outbreak has considerable impact on the market. During pandemic, lockdown imposed by government bodies across the globe resulted in temporary shutdown of business, which hampered the demand of enterprise application solutions. However, organizations are deploying cloud-based enterprise application solutions to support remote working.

Market Trends, Drivers, Restraints, and Opportunities

• Increasing adoption of enterprise application solution by start-ups is one of the key factor driving the market growth.
• Emerging penetration of mobile devices and remote access is projected to drive the market expansion during the forecast period.
• Rising accessibility and easy availability of open source solution acts as a major challenge that can restrict the market growth in the coming years.
• Escalating maintenance cost can hamper the market growth during the projected timeline.
• Integrating big data, artificial intelligence, and internet of things technology with these solutions is projected to create significant growth opportunities for the market.

Scope of Enterprise Application Market Report

The report on the global enterprise application market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report

Enterprise Application Market Segment Insights

Rising implementation by IT sector increases the cloud segment market share

Based on deployment, the market is bifurcated into cloud and on-premise. The cloud segment is estimated to account for a significant market share during the forecast period attributed to the rising implementation of cloud-based solutions by telecom & IT sector during pandemic. Additionally, cloud-based solutions are cost effective and helps in integration of various applications, facilitate new, and expanded channels, is major driver of the segment. On the other hand, the on-premise segment is anticipated to grow at a high CAGR during the projected period owing to security issues associated with the cloud-based solutions.

BI segment is estimated to expand at robust growth rate

On the basis of products, the global enterprise application market is divided into EAM, BPM, web conferencing, ERP, CMS (Content Management System), BI (Business Intelligence), SCM, CRM, and Others. The BI segment is estimated to expand at robust growth rate during the forecast period due to these solution provide better efficiency, up-selling opportunities, recognize cross-selling, and customer behavior insights. However, the CMS segment is projected to expand at a considerable CAGR during the forecast period attributed to the boost in demand for website content management.

Patient-centric healthcare solutions drive the healthcare segment

Based on end-users, the market is fragmented into telecom & IT, retail, BFSI, aerospace & defense, healthcare, government, and other. The healthcare segment is expected to grow at a rapid pace during the forecast period due to rising demand for real-time data transparency, which gives patient-centric healthcare solutions. Moreover, key players are offering cost effective solutions to healthcare sector for patient’s safety, which is driving the segment growth further. On the other hand, the retail segment is anticipated to expand at a substantial CAGR in the coming years owing to increases adoption of enterprise application solutions for enhancing customer experience.

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North America is anticipated to constitute a key market share

In terms of region, the global enterprise application market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is anticipated to constitute a key share of the market during the projected period owing to shifting business models with an additional customer-centric approach and concentration of enterprises in the region on decreasing operational cost. However, the Asia Pacific market is anticipated to grow at a rapid pace during the forecast period due to the increasing implementation of enterprise application solutions by small & medium enterprises in the region.

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Segments

The global enterprise application market has been segmented on the basis of

Deployment

• Cloud
• On-premise

Products

• EAM
• BPM
• Web Conferencing
• ERP
• CMS
• BI
• SCM
• CRM
• Others

End-users

• Telecom & IT
• Retail
• BFSI
• Aerospace & Defense
• Healthcare
• Government
• Other

Regions

• Asia Pacific
• North America
• Latin America
• Europe
• Middle East & Africa

Key Players

• Microsoft Corp.
• IBM Corp.
• SAP SE Corp.
• Infor
• Oracle Corp.
• Hewlett Packard Enterprise (HP)
• QAD Inc.
• Epicor Software Corp.
• IFS AB

Competitive Landscape

Key players competing in the global enterprise application market are Microsoft Corp.; IBM Corp.; SAP SE Corp.; Infor; Oracle Corp.; Hewlett Packard Enterprise (HP); QAD Inc.; Epicor Software Corp.; and IFS AB

Companies are focusing on cloud-based enterprise application solutions deployment for remote working. Furthermore, companies are widely engaging in strategic partnership, merger & acquisition, new product launch, and collaborations to boost their market share and acquiring new buyers.

For instance, in August 2019, TwoConnect the U.S based integrated software and data Soloutions Company, announced the accessibility of its BizTalk Upgrade/Migrate to Azure Cloud 3-Day PoC migration consulting service offered to the Microsoft Azure Marketplace. With these integration, TwoConnect clients can take benefit of the security of Azure, scalability, and high availability with streamlined management and deployment.