The Worldwide Enterprise Application Industry is Expected to Reach $468.2 Billion by 2027
DUBLIN, April 26, 2022 /PRNewswire/ -- The "Global Enterprise Application Market Size, Share & Industry Trends Analysis Report By Component, By Solution Type, By Deployment Type, By Organization Size, By Vertical, By Regional Outlook and Forecast, 2021-2027" report has been added to ResearchAndMarkets.com's offering.
The Global Enterprise Application Market size is expected to reach $468.2 billion by 2027, rising at a market growth of 9.0% CAGR during the forecast period.
Business process management (BPM) and software configuration management (SCM) are examples of enterprise application solutions that enable businesses track production from procurement to delivery to the end customer and manage inventory. The use of these technologies allows for accurate and real-time business information flow between departments in any organization.
Enterprise application implementation allows for a smooth flow of business data both inside and outside the firm. Using appropriate technologies, data can be gathered and saved from a variety of sources, including social media. Enterprise applications are becoming more popular among businesses as they help them cut expenses and expand their market share. They aid in increasing the overall efficiency and productivity of the company. A growing number of businesses across a variety of industries are working to improve customer service.
Data breaches and leaks have become increasingly regular and harmful as organisations and services have gone digital on an unprecedented scale. Malicious software, ransomware, DDoS attacks, and cybercrime, such as phishing and other scams, pose a threat to both small and large businesses. Hashing protocols, particular machine learning algorithms, encryption, firewalls, access control, and data loss prevention are among the security solutions to be used in 2021.
Progressive Web Applications (PWAs) are mobile apps that are integrated into a web page or installed on a user's system, redefining how people access online content. They impress a rising number of users with a wide range of benefits, including being intuitive, linkable, lightweight,and traceable by search engines, as well as the capacity to work across multiple platforms.
COVID-19 Impact Analysis
An increase in the number of patients around the world has led to a worldwide lockdown, forcing the population to stay at home for an extended period of time. This has resulted in a rise in the use of web-based platforms for a variety of services, likeinternet banking and onlineshopping. The rising number of online consumers makes it extremely challenging to adequately handle company data. This data is managed with the help of enterprise application software. Due to the closure of retail stores and malls, this has resulted in a major increase in enterprise application software adoption and preplanned investments. Furthermore, as a result of the COVID-19 pandemic, online banking services are growing at the fastest rate in the world, resulting in increasing use of enterprise application software for a variety of purposes, including client retention and customer need optimization.
Moreover, corporate application software usage is likely to rise in a number of sector verticals, including healthcare and pharmaceuticals, as well as retail, where it was low prior to the COVID-19 crisis. Additionally, following COVID-19, it is expected that numerous healthcare organizations is expected to then prefer big data and cloud technology to implement customer requirement analysis and track customer orders in the pharma industryto combat future pandemic situations and to predict possible situations before they occur.
Market Growth Factors:
Growing demand for fulfilling regulatory compliance standards and audit management
Audits are a dreadful reality for any company. Businesses are making significant changes to their IT systems and internal processes to comply with government regulations and mandates such as the Sarbanes-Oxley Act, HIPPA's severe security requirements, OSHA, and the Securities and Exchange Commission. With built-in audit trails that offer access histories and transactions for each document, enterprise content management makes this easier. Government regulations necessitate the preservation of various types of data and records, and the requirements are frequently complex.
Improved visibility and transparency in supply chain data and procedures
Previously, the largest barrier to accomplishing supply chain objectives has been a lack of visibility and transparency. Most businesses lack the supply chain transparency and insight required to better predict and prevent disruptions and inventory imbalances. This is partly due to an inability to manage an enormous volume of data spread across various processes, sources, and systems. Organizations in the supply chain are struggling to keep up with both technology advancements and the changes that the digital era is bringing to sectors and marketplaces.
Marketing Restraining Factor:
Data security and privacy concerns
Organizations throughout the world are concerned about security and compliance, and they are hesitant to implement new solutions that include data handling or data migration from one platform to another. Data collection and transmission from one channel to another are part of enterprise content management. Many firms believe that enterprise content management solutions is expected to result to data theft in their highly abstracted data sets caused by a lack of sufficient information about security standards and their implementation.
Key Topics Covered:
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Competition Analysis - Global
3.1 KBV Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product Launches and Product Expansions
3.2.3 Acquisitions and Mergers
3.3 Top Winning Strategies
3.3.1 Key Leading Strategies: Percentage Distribution (2017-2021)
3.3.2 Key Strategic Move: (Product Launches and Product Expansions: 2017, May - 2021, Dec) Leading Players
Chapter 4. Global Enterprise Application Market by Component
4.1 Global Solution Market by Region
4.2 Global Solution Market by Type
4.2.1 Global Supply Chain Management Market by Region
4.2.2 Global Enterprise Resource Planning Market by Region
4.2.3 Global Customer Relation Management Market by Region
4.2.4 Global Business Process Management Market by Region
4.2.5 Global Enterprise Asset Management Market by Region
4.2.6 Global Business Intelligence Market by Region
4.2.7 Global Content Management System Market by Region
4.2.8 Global Others Market by Region
4.3 Global Services Market by Region
Chapter 5. Global Enterprise Application Market by Deployment Type
5.1 Global On-premise Market by Region
5.2 Global Cloud Market by Region
5.3 Global Hybrid Market by Region
Chapter 6. Global Enterprise Application Market by Organization Size
6.1 Global Large Enterprises Market by Region
6.2 Global Small & Medium-Sized Enterprises Market by Region
Chapter 7. Global Enterprise Application Market by Vertical
7.1 Global Telecom & IT Market by Region
7.2 Global BFSI Market by Region
7.3 Global Government Market by Region
7.4 Global Retail Market by Region
7.5 Global Manufacturing Market by Region
7.6 Global Healthcare Market by Region
7.7 Global Others Market by Region
Chapter 8. Global Enterprise Application Market by Region
Chapter 9. Company Profiles
9.1 IBM Corporation
9.1.1 Company Overview
9.1.2 Financial Analysis
9.1.3 Regional & Segmental Analysis
9.1.4 Research & Development Expenses
9.1.5 Recent Strategies and developments:
9.1.5.1 Partnerships, Collaborations and Agreements:
9.1.5.2 Acquisitions and Mergers:
9.1.5.3 Product Launches and Product Expansions:
9.1.6 SWOT Analysis
9.2 Oracle Corporation
9.2.1 Company Overview
9.2.2 Financial Analysis
9.2.3 Segmental and Regional Analysis
9.2.4 Research & Development Expense
9.2.5 Recent Strategies and developments:
9.2.5.1 Product Launches and Product Expansions:
9.2.6 SWOT Analysis
9.3 Microsoft Corporation
9.3.1 Company Overview
9.3.2 Financial Analysis
9.3.3 Segmental and Regional Analysis
9.3.4 Research & Development Expenses
9.3.5 Recent Strategies and developments:
9.3.5.1 Partnerships, Collaborations and Agreements:
9.3.6 SWOT Analysis
9.4 SAP SE
9.4.1 Company Overview
9.4.2 Financial Analysis
9.4.3 Segmental and Regional Analysis
9.4.4 Research & Development Expense
9.4.5 Recent Strategies and developments:
9.4.5.1 Partnerships, Collaborations and Agreements:
9.4.5.2 Product Launches and Product Expansions:
9.4.6 SWOT Analysis
9.5 Salesforce.com, Inc.
9.5.1 Company Overview
9.5.2 Financial Analysis
9.5.3 Regional Analysis
9.5.4 Research & Development Expense
9.5.5 Recent Strategies and developments:
9.5.5.1 Partnerships, Collaborations and Agreements:
9.5.5.2 Acquisitions and Mergers:
9.5.5.3 Product Launches and Product Expansions:
9.5.6 SWOT Analysis
9.6 Hewlett Packard Enterprise Company
9.6.1 Company Overview
9.6.2 Financial Analysis
9.6.3 Segmental and Regional Analysis
9.6.4 Research & Development Expense
9.6.5 Recent Strategies and developments:
9.6.5.1 Acquisitions and Mergers:
9.6.5.2 Product Launches and Product Expansions:
9.6.6 SWOT Analysis
9.7 IFS AB
9.7.1 Company Overview
9.7.2 Recent Strategies and developments:
9.7.2.1 Partnerships, Collaborations and Agreements:
9.7.2.2 Acquisitions and Mergers:
9.7.2.3 Product Launches and Product Expansions:
9.8 QAD, Inc. (Thoma Bravo)
9.8.1 Company Overview
9.8.2 Recent Strategies and developments:
9.8.2.1 Partnerships, Collaborations and Agreements:
9.8.2.2 Acquisitions and Mergers:
9.8.2.3 Product Launches and Product Expansions:
9.9 Epicor Software Corporation
9.9.1 Company Overview
9.9.2 Recent Strategies and developments:
9.9.2.1 Partnerships, Collaborations and Agreements:
9.9.2.2 Acquisitions and Mergers:
9.9.2.3 Product Launches and Product Expansions:
9.10. Infor, Inc. (Koch Industries)
9.10.1 Company Overview
9.10.2 Recent Strategies and developments:
9.10.2.1 Partnerships, Collaborations and Agreements:
9.10.2.2 Acquisitions and Mergers:
9.10.2.3 Product Launches and Product Expansions:
For more information about this report visit https://www.researchandmarkets.com/r/eaibob
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