Press release
Enterprise Application Market Analysis and Growth by Key Players by 2024: IBM, Microsoft, Oracle, SAP, Epicor Software, Hewlett-Packard, IFS, Infor, and QAD
Global Market Insights
Enterprise Application Market is expected to surpass USD 280 billion by 2024. Rising need for interconnecting business processes will drive the industry in the forecast time frame. High adoption of enterprise application by industries such as retail, BFSI, manufacturing, and telecom will further propel the industry growth.
This increased implementation is attributed to its user-friendly features that assist the organizations to enhance the consumer experience. Moreover, it facilitates enterprises and organizations to remain proactive and offers a competitive advantage over an open source application that further fuels the rate of its adoption.
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Top Key Players: -
Key industry participants contributing to the enterprise application market share include IBM, Microsoft, Oracle, and SAP Other prominent industry players are Epicor Software, Hewlett-Packard, IFS, Infor, and QAD.
Regional Segmentation: -
North America enterprise application market is predicted to dominate the industry with 30% of the revenue in the forecast timeline. It can be attributed to organizations’ increasing customer centric approach and dynamic structure. Rising focus toward the reduction of operational costs will further fuel the regional growth.
Asia Pacific is expected to grow at a CAGR of 9.5% and will account for USD 75 billion during the forecast time frame. Moreover, the development of innovative devices and increasing technological advancements will propel the growth of the enterprise application market in the region.
Partial Chapter of the Table of Content
Chapter 3. Enterprise Application Industry Insights
3.1. Industry segmentation
3.2. Industry Size and forecast, 2013 - 2024
3.3. Industry ecosystem analysis
3.3.1. Vendor matrix
3.4. Industry Impact forces
3.4.1. Growth drivers
3.4.1.1 Cloud computing adoption
3.4.1.2 Competitive edge
3.4.1.3 Escalating multimedia device demand
3.4.2. Industry pitfalls & challenges
3.4.2.1 Substantial maintenance and implementation cost
3.4.2.2 Open source application availability
3.5. Growth potential analysis
3.6. Porter’s analysis
3.7. Key competitor landscape
3.8. PESTEL analysis
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Customer relationship management (CRM) is projected to dominate the enterprise application market with a 25% market share. It is attributed to the rising consumer awareness regarding customer engagement. ERP segment is anticipated to witness an exponential growth and grow at above 8% CAGR in the forecast time span.
This growth is attributed to the rising need for real-time flow of information and need for back office automation. Content management system (CMS) is expected to grow at a CAGR of 13.5% and account for USD 8.5 billion during the forecast time frame owing to increasing demand for content management for websites.
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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Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Web: www.gminsights.com
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