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Global Enterprise Software Market Analysis, Size, Share, Trends and Forecast by 2024 - Market Research Report 2018

08-30-2018 07:54 AM CET | IT, New Media & Software

Press release from: Analytical Research Cognizance

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The global enterprise software market has reported a significant growth in recent years and is anticipated to exceed US$ 575 Billion by 2024. 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. With increasing global competition and rising awareness regarding enterprises software across the globe, the worldwide enterprise software market is poised to scale newer acmes. Moreover, introduction of novel software services, technology innovation and advancement, rising number of enterprises in the world and entry of new industry players, are all set to further boost the market growth.

Global Enterprise Software Market and Forecast - By Segment
The Enterprise Resource Planning (ERP) and Customer Relationship Management (CRM) are the leading application segments of the enterprise software market.

Business intelligence is the third largest segment for enterprise software being followed by Supply Chain Management (SCM) applications.

Web Conferencing Collaboration/Social Software Suites captured least share of the enterprise software market.

Global Enterprise Software Market and Forecast - By Industry Verticals
Banking & Securities, Communications, Media & Services, and Manufacturing & Natural Resources are the top three industry verticals for enterprise software market.

The spending on software by healthcare industry was close to US$ 15 Billion in 2017.

Insurance and Retail industries are competing very closely with each other to grab maximum share of the enterprise software market.

The spending on software by transportation industry is expected to exceed US$ 30 Billion by 2024.

Global Enterprise Software Market and Forecast - By Geography
Countries in North America and Europe have been identified as early adopters of enterprise software.

Asia Pacific enterprise application market is anticipated to witness growth owing to rising number of startup and presence of large number of small scale industries.

Chinese organizations are lagging behind in terms of adoption of enterprise software tools, resulting in the fast growth of this market.

India’s software landscape is largely dominated by a bunch of global software companies such as Microsoft, Oracle, SAP, IBM and SAS, etc.

It is predicted that the Eastern Europe and MEA enterprise software market will exceed US$ 40 Billion by 2024.

Source@https://www.reuters.com/brandfeatures/venture-capital/article?id=49177

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