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Enterprise Application Market Will Grow at a Healthy CAGR by 2024 Profiling Epicor Software, Hewlett Packard Enterprise, IBM, IFS, Infor, Microsoft, Oracle, SAP, QAD
Enterprise Application Market
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ERP and CRM are expected to be the prime product segments over the next seven years. Real time flow of information through various connected departments such as sales, production, technical; quality and HR is expected to fuel enterprise application market through 2024. Transition in business models from traditional to cloud computing is anticipated to offer potential growth opportunities. Furthermore, remote access for employees and growing mobile penetration in business communication sector will also boost revenue.
The Major Key Players in the Market are as follows:
1. Epicor Software
2. Hewlett Packard Enterprise
3. IBM
4. IFS
5. Infor
6. Microsoft
7. Oracle
8. SAP
9. QAD
BFSI, manufacturing, healthcare, retail, airspace & defense, media, chemicals, telecom & IT, oil & gas and hospitality sector are likley to contribute towards swift industry growth over the forecast period. SCM and business process management aid industries in tracking production and inventory management from procurement to delivery. Avaialbility of open source solutions along with high implementation & maintenance costs associated with the servers and operating systems may hinder growth over the forecast period. Some available open source solutions are ProcessMaker, FriFrans, CitrusBD and Magnolia.
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Content management system market share will grow at 13.5% CAGR over the forecast timeline. Features such as capability of conveting unstructured data into structured is likely to aid in easy website content management and in turn drive growth. Benefits offerd such as up-selling and cross-selling opportunities, customer behavior insights and improved efficiency is likley to drive the business intelligence market over the forecast period.
Healthcare applications occupied more than 10% of the overall industry share in 2015. These applications effectively handle digitized data from multiple sources and in turn enable organizations to gain real-time transparency and process optimization.
Asia Pacific enterprise application market will grow at 9.5% CAGR. Rising demand for cloud-based solutions amongst medium and small scale industries are the major growth drivers.
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Key competitors include Oracle, Epicor Software, IBM, SAP, Microsoft, QAD, Hewlett Packard and IFS. The enterprise application market share is characterized by frequent strategic partnerships and mergers & acquisitions.
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