Ocean View, DE -- (SBWIRE) -- 04/21/2020 -- Global enterprise application market worth USD 150 billion in 2015, is forecast to register a CAGR of 7.6% over the period of 2016-2024. The North America market size is estimated to account for 30% of the overall revenue by 2024, driven by modern organizational structure and customer-centric approach of the companies across this region. The Asia Pacific market is anticipated to record a CAGR of 9.5% over the coming eight years, hitting USD 75 billion by 2024. Technological advancements coupled with cloud-based solution demand by SMBs is likely to drive the regional demand.
Europe has been witnessing the presence of a rising number of SMEs along with growing inclination toward cloud platform, signaling the regional growth. Several SMEs have been adopting the enterprise applications to control their business processes. As per the data from European Commission, SMEs belonging to EU non-financial sector held two-thirds of the total EU employment in 2016.
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Europe enterprise application market is anticipated to amass significant gains during the forecast period – estimates claim that the region will account for over 25% of the global enterprise application industry share by 2024.
In addition, the constantly expanding enterprise size and complexity have been making it difficult for them to handle the IT infrastructure, generating the requirement of enterprise application software. The software combines all features and functionalities of multiple other applications used at the enterprise premises which brings everything under a centralized control, thus enhancing the overall enterprise operations.
The growing deployment of cloud-based enterprise application software is another factor driving enterprise application market trends owing to high scalability and cost-benefits associated with it. The enterprise application market encompasses a host of technology providers that are involved in offering innovative solutions to the meet the rising customer demand. The implementation of the product not only improves the service delivery but also simplifies the workflow by offering all in one management solution for different industry verticals.
Enterprise Application 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 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.
Table of Contents (ToC) of the report:
Chapter 4. Enterprise Application Product Insights
4.1. Enterprise application market share by product, 2015 & 2024
4.2. CRM
4.2.1. Market estimates and forecasts by region, 2013 - 2024
4.3. ERP
4.3.1. Market estimates and forecasts by region, 2013 - 2024
4.4. SCM
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. BI
4.6.1. Market estimates and forecasts by region, 2013 - 2024
4.7. BPM
4.7.1. Market estimates and forecasts by region, 2013 - 2024
4.8. CMS
4.8.1. Market estimates and forecasts by region, 2013 - 2024
4.9. EAM
4.9.1. Market estimates and forecasts by region, 2013 - 2024
4.10. Others
4.10.1. Market estimates and forecasts by region, 2013 - 2024
Chapter 5. Enterprise Application End-Use Insights
5.1. Enterprise application market share by end-use, 2015 & 2024
5.2. Manufacturing
5.2.1. Market estimates and forecasts by region, 2013 - 2024
5.3. BFSI
5.3.1. Market estimates and forecasts by region, 2013 - 2024
5.4. Healthcare
5.4.1. Market estimates and forecasts by region, 2013 - 2024
5.5. Retail
5.5.1. Market estimates and forecasts by region, 2013 - 2024
5.6. Government
5.6.1. Market estimates and forecasts by region, 2013 - 2024
5.7. Aerospace & defense
5.7.1. Market estimates and forecasts by region, 2013 - 2024
5.8. Telecom & IT
5.8.1. Market estimates and forecasts by region, 2013 - 2024
5.9. Others
5.9.1. Market estimates and forecasts by region, 2013 - 2024
Chapter 6. Enterprise Application Deployment Insights
6.1. Enterprise Application market share by deployment, 2015 & 2024
6.2. On-premise
6.2.1. Market estimates and forecasts by region, 2013 - 2024
6.3. Cloud
6.3.1. Market estimates and forecasts by region, 2013 - 2024
Browse complete Table of Contents (ToC) of this research report @ https://www.gminsights.com/toc/detail/enterprise-application-market
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