Latest market study, In-depth analysis on "Enterprise Software Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024".
Albany, NY -- (SBWIRE) -- 11/13/2017 -- Global Enterprise Software Market: Overview
Enterprise software is increasingly used by organizations across the globe and across most industry verticals for a number of line-of-business operations, including and not limited to human resources, business intelligence, manufacturing, customer relationship management, sales and service, planning, inventory and materials management, purchasing, finance and accounting, and marketing. The primary goal of using enterprise software is to enhance efficiency as well as productivity and gain a significant competitive advantage.
As more and more companies upgrade core functionalities, the global spending on enterprise application software is anticipated to grow, with most spending dedicated toward replacing, modernizing, or functionally expanding current office and business applications. The approval of bigger budgets for IT projects in companies is a positive sign for the overall enterprise software market.
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Global Enterprise Software Market: Major Segments and Key Trends
The shift toward cloud computing is one of the most significant trends that has positively impacted the global enterprise software market. Additionally, enterprise mobility solutions such as the trend of bring-your-own-device (BYOD) have increased the adoption and implementation of enterprise platforms. The growing demand for business intelligence and analytics has also driven the need for enterprise application software programs, thereby propelling the global market.
Some of the key limitations that players in the enterprise software market have to deal with include drawbacks associated with the software itself: customization and flexibility issues, the high cost of support and licensing, and complexities related to the migration of existing data. However, if companies can manage to overcome these issues, the benefits of enterprise software can help an organization thrive in a competitive business environment.
Enterprise software is used for a number of applications, including web conferencing, business intelligence, customer relationship management, project and portfolio management, digital content creation, enterprise resource planning, enterprise content management, and supply chain management. Enterprise software is used by organizations of all sizes – small, medium, and large – in various industry verticals such as manufacturing, media and entertainment, healthcare, retail, public sector, banking, financial services, and insurance, telecom, transportation, energy and utilities, and distribution. The major regions comprising the global enterprise software market are Europe, Asia Pacific, North America, and Rest of the World.
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Global Enterprise Software Market: Region-wise Outlook
Countries in North America and Europe have been identified as early adopters of enterprise software such as software as a service (SaaS) and customer relationship management (CRM). Enterprise software penetration rates in these regions are rather high and the adoption of these solutions has become commonplace with companies rapidly utilizing hybrid models of cloud as well as on-premise products. Countries in the Rest of the World, especially those in North Africa and the Middle East, have been reporting a very gradual rise in enterprise software adoption and these countries are still at the very early stages of SaaS penetration. The adoption of enterprise software in these regions is restrained by the lack of data center and network infrastructure, inadequate local-language cloud or SaaS offerings, and government regulations.
However, research indicates that investments in local-language offerings and build-out of data centers by vendors in emerging countries of Asia Pacific and Rest of the World are on the rise. These trends are likely to boost the enterprise software market in these two regions.
The global enterprise software market is dominated by players such as Salesforce.com, SAP, EMC Corporation, Symantec, Oracle Corporation, HP, Microsoft Corporation, IBM Corporation, CA Technologies, and VMware.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
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The study is a source of reliable data on:
Market segments and sub-segments
Market trends and dynamics
Supply and demand
Value chain and stakeholder analysis
The regional analysis covers:
North America (U.S. and Canada)
Latin America (Mexico, Brazil, Peru, Chile, and others)
Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, Luxembourg)
Eastern Europe (Poland, Russia)
Asia Pacific (China, India, Japan, ASEAN, Australia and New Zealand)
Middle East and Africa (GCC, Southern Africa, North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry's value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
A complete backdrop analysis, which includes an assessment of the parent market
Important changes in market dynamics
Market segmentation up to the second or third level
Historical, current, and projected size of the market from the standpoint of both value and volume
Reporting and evaluation of recent industry developments
Market shares and strategies of key players
Emerging niche segments and regional markets
An objective assessment of the trajectory of the market
Recommendations to companies for strengthening their foothold in the market
Note: Although care has been taken to maintain the highest levels of accuracy in TMR's reports, recent market/vendor-specific changes may take time to reflect in the analysis.