Albany, NY -- (SBWIRE) -- 06/20/2014 -- The global Enterprise Search Market was worth USD 1,777.5 million in 2012 and is expected to reach USD 3,993.7 million by 2019, growing at a CAGR of 12.2% from 2013 to 2019. North Americawas the largest region for enterprise search market in 2012. Growth in this region is primarily driven by availability of technologies and presence of key industry player in the region.
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The enterprise search market is driven by various factors including need to make search more relevant, availability of technologies and need for relevant information. However, multiplicity of repositories and problem of ambiguity are some of the factors inhibiting the growth of this market.
Among all end-users, banking and financial services segment was the largest and accounted for 34. 9% of the market share in 2012. It is expected to maintain leading position throughout the forecast period. Government and commercial is the second largest end-user segment and is expected to witness strong growth during the forecast period. Increased use of intranet and communication within the organization has been driving the market.
Geographically North America was the largest segment and accounted for 34.2% in 2012 owing to technological advancement and key industry players. Europe is expected to be fastest growing geography among all the geographies.
Different end-users of enterprise search market include retail, healthcare, others (media and entertainment, aerospace and defense, construction). Most of enterprise search players are competing among each other by developing cost effective search solution and software with greater performance to get competitive advantage. The global enterprise search market in a current situation is dominated by few global players and regional players as well. The global market players include Microsoft Corporation, Oracle Corporation, SAP AG, IBM Corporation, Coveo Solutions Inc., Attivio Inc and others.
Enterprise Search Market by End user
Government and commercial offices
Banking and financial services
Others (aerospace and defense, media and entertainment, construction)
Enterprise Search Market by Geography
Rest of the World
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