Enterprise application market share will thrive on superior IT infrastructure in the organization. Enterprise software help in establishing better quality management, customer management, and supply chain management. The global market size is projected to be valued at US$287.1 billion by 2024.
Enterprise application (EA) or enterprise application software is a computer software mainly developed to cater to the needs of business organizations. The enterprise software solution market will be augmented by the growing need to connect business processes within the organization.
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The myriad products of market such as web conferencing, BPM, CRM, business intelligence, ERP, EAM, CMS, and SCM can be deployed via cloud and on-premise modes. Having held over 30% of the overall market in 2015, cloud-based enterprise application market is forecast to grow significantly over the next few years. This is primarily due to the incredible benefits offered by this deployment mode, such as excellent monitoring, reduced investment and operational cost, and high potential for disaster recovery. On-premise-based enterprise application, in contrast, will witness a growth of 4.5% over 2016-2014.
The solutions offered by market are extremely diverse and are applied across numerous professional sectors. In a bid to ensure 100% customer satisfaction, corporations are increasingly adopting the CRM-based model. It is anticipated that CRM enterprise application market will contribute to more than 25% of the overall revenue by 2024.
Automation has now become a thing of the present, instead of a fictional fragment of science. The rising need to obtain real-time information and to automate back office operations will propel ERP enterprise application market, which is foreseen to grow at a CAGR of 7.7% over 2016-2024. Another prominent enterprise application product, the content management system (CMS), is also expected to witness a tremendous growth of 13.5% over 2016-2024. The rising demand for highly advanced website content management will lead this segment to earn a revenue of USD 8.5 billion by 2024.
The IT sector in particular, has been adopting enterprise application solutions on a substantially large scale. For most part, the decision to choose among the many products of market depends on the customer requirements. These solutions are also used in the medical sector, in response to which industry from the healthcare domain is expected to grow at a CAGR of 8.9% over 2016-2024.
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North America enterprise application market is anticipated to hold more than 30% of the overall revenue by 2014, driven by the dynamic customer-centric approach adopted by major companies in the region and the escalating adoption of these solutions across various sectors.
Companies operating in the market include Hewlett-Packard, SAP, Epicor Software, IBM, Oracle, and Microsoft.
Major Key Points from Table of Content:
Chapter 5. Enterprise Application Market, End-Use Insights
5.1. Market share by end-use, 2015 & 2024
5.2.1. Market estimates and forecasts by region, 2013 - 2024
5.3.1. Market estimates and forecasts by region, 2013 - 2024
5.4.1. Market estimates and forecasts by region, 2013 - 2024
5.5.1. Market estimates and forecasts by region, 2013 - 2024
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
5.9.1. Market estimates and forecasts by region, 2013 - 2024
Chapter 6. Enterprise Application Market, Deployment Insights
6.1. Market share by deployment, 2015 & 2024
6.2.1. Market estimates and forecasts by region, 2013 - 2024
6.3.1. Market estimates and forecasts by region, 2013 - 2024
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