Albany, NY -- (SBWIRE) -- 06/08/2017 -- According to a recent market research report published by Transparency Market Research, the global enterprise search market is estimated to expand at a CAGR of 12.2% during the period between 2013 and 2019. The report, titled "Enterprise Search Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2013 - 2019," projects the global enterprise search market to reach a valuation of US$3.9 bn by 2019. The overall market was worth US$1.7 bn in 2012.

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The report points out that the growing need for obtaining relevant information quickly has fuelled the market for enterprise search. Enterprise search systems collate content from intranets, databases, email, data management systems, and other searchable sources. Such systems enhance the efficiency and productivity of business processes and are able to save as much as 30% of the time spent by employees searching information. Availability of technologies has further augmented the growth of the global enterprise search market. However, the report states that uncertain meaning of keywords and multiplicity of enterprise repositories and search quality will hamper the growth of the market during the forecast horizon. The overall enterprise search market has a huge opportunity to grow with the convergence of search and information technologies.

On the basis of end use, the report segments the global enterprise search market into banking and financial services, government and commercial offices, healthcare, retail, and others including aerospace and defense, media and entertainment, and construction. In 2012, the banking and financial services segment accounted for a 34.9% share in the market and dominated the overall market. Government and commercial offices constituted the second largest end-use segment in 2012 and the segment is projected to witness promising growth during the forecast horizon.

On the basis of enterprise size, the global enterprise search market has been broadly classified into large-scale, medium-scale, and small-scale enterprises. In 2012, large-scale enterprises dominated the market and accounted for a 61.0% share in the market. However, during the forecast horizon, the medium-scale enterprises segment is expected to register the fastest growth.

The report studies the growth of the global enterprise search market across four key regions: Asia Pacific, Europe, North America, and Rest of the World. North America dominated the overall market in 2012 and accounted for over 34.2% of the total revenue. The growth of the enterprise search market in North America can be attributed to technological advancements and the presence of major enterprise search industry players. In Europe, Germany is a major market for enterprise search and several market players in the U.S. are partnering with European vendors to expand their business in the region. During the forecast period, Asia Pacific is expected to be the fastest growing regional segment of the market.

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The report profiles some of the key players in the global enterprise search market such as Microsoft Corporation, Oracle, IBM, Attivio Software, SAP AG, Coveo Solutions Inc., X1 Technologies Inc., Dassault Systems S.A., Mark Logic Corporation, and EMC Corporation. The report provides insightful information about the key players including their business strategies, financial overview, and recent developments.