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Enterprise Application Market: Analysts Expect Robust Growth in 2024

Author : Ronak Bora | Published Date : 2020-09-11 

Technological advancements and digitization is setting high goals for the enterprise application market, which is expected to hit a revenue of USD 287.7 billion by 2024, as per Global Market Insights, Inc. Enterprise application is a highly complex system deployed across corporate bodies to ensure real- time information flow along with smooth business operations.

Growing demand for efficient IT infrastructure, rising internet connectivity, rapid adoption of cloud computing technologies, and growth in smartphones and mobile devices are the vital factors influencing the enterprise application market share worldwide.A huge adoption trend across various end-use industries such as Healthcare, BFSI, Manufacturing, Government, Retail, Telecom & IT, and Aerospace & Defense is boosting the global enterprise application market.

Enterprise application provides these industries with a wide set of solutions such as CRM, SCM, ERP, Business Intelligence [BI], Web Conferencing, BPM, EAM, and CMS. These solutions enable the users with better inventory management, quality management, customer engagement, and supply chain management.

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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.

Cloud based enterprise application, which accounted for 30% of the overall share in 2015, is gaining popularity among various sectors, particularly manufacturing and retail, due to increasing focus on cost optimization, growing internet connectivity and demand for enhanced accessibility. Also, on-premise deployment model is projected to witness a CAGR of 4.5% over the period of 2016-2024.

Top Key Players In Enterprise Application Market are Epicor Software Corporation, Hewlett-Packard Company (HP), IBM Corporation, IFS AB, Infor Inc., Microsoft Corporation, Oracle Corporation, SAP AG, QAD Inc.

lobal 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.

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

Table Of Content:

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

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

 

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About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. [email protected] | https://twitter.com/RonakBora26

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