The global enterprise application market size
is estimated to be worth USD 259.51 billion by 2022, according to a new study
by Grand View Research, Inc., registering a 7.8% CAGR during the forecast
period. Increasing need among organizations for single data access point is
anticipated to drive industry growth over the forecast period.
Implementation of enterprise application
solutions enables real-time data and information flow along with level running
of business process. Use of these solutions enables better customer engagement,
inventory management, quality management, and supply chain management.
Increasing IT budgets of companies is expected to favor industry growth over
the next few years. However, availability of open source solutions and high
maintenance costs may hinder industry growth.
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Further key findings from the study suggest:
· Web conferencing is useful for conducting
seminars, business meetings, online presentations, online educations,
demonstrations, and offering direct customer support. Companies adopt web
conferencing to reduce geographical barriers and enable effective communication
across regions
· Business Process Management (BPM) offers
benefits such as increased customer satisfaction, improved agility, cost
saving, greater team satisfaction, and full transparency of all activities
across the organization
· The healthcare sector is estimated to
exhibit a CAGR of over 9.0% from 2015 to 2022. Increasing need for real-time
data transparency is anticipated to drive growth over the forecast period
· In 2014, on-premise solutions accounted for
around 67.0% of the overall revenue. However, cloud-based solutions are
becoming popular among small-scale companies owing to budget limitations and
the many benefits this platform offers
· The North America market is estimated to be
a major regional segment owing to changing organizational structure and
customer-centric approach of companies in the region
· Europe is estimated to exhibit a CAGR of
around 6.0% over the forecast period; Asia Pacific is also anticipated to
witness strong growth owing to rising number of start-ups and presence of large
number of small-scale industries
· Key industry participants include Hewlett
Packard (HP); Oracle; Microsoft Corporation; IFS AB; SAP; QAD Inc.; IBM
Corporation; Epicor software Corp.; and Infor
· In 2014, SAP invested USD 2.54 billion in
research and development to enhance its offerings. In March 2014, the company
announced the acquisition of Fieldglass, a vendor management system provider.
Grand View Research has segmented the
enterprise application market report on the basis of product, end use,
deployment, and region:
Enterprise Application Product Outlook
(Revenue, USD Billion, 2012 - 2022)
·
CRM
·
ERP
·
SCM
·
Web Conferencing
·
BI
·
BPM
·
CMS
·
EAM
·
Others
Enterprise Application End-use Outlook
(Revenue, USD Billion, 2012 - 2022)
·
Manufacturing
·
BFSI
·
Healthcare
·
Retail
·
Government
·
Aerospace & Defense
·
Telecom & IT
·
Others
Enterprise Application Deployment Outlook
(Revenue, USD Billion, 2012 - 2022)
·
On-premise
·
Cloud
Enterprise Application Regional Outlook
(Revenue, USD Billion, 2012 - 2022)
·
North America
·
Europe
·
Asia Pacific
·
RoW
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
