Enterprise Application Market 2021: Key Drivers, Restraints, and Opportunities Along with their Imapact Analysis

The emergence of mobile device penetration and rising preference for remote access is anticipated to boost industry growth over the coming years.

There is a paradigm shift in the deployment methods from onpremise to cloud based models due to emergence of cloud technology in the market. Cloud enabled application considerably reduces the investments required in alternative IT resources. Thus, customers are shifting from onpremise to cloud enabled applications. Access of enterprise application from mobile devices would gain a surge, in terms of adoption.

The global market is expected to garner $ 213.43 billion by 2020, registering a CAGR of 7.4% during the period 2014-2020.

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Leading vendors such as Oracle, SAP and Microsoft are launching applications, which can be delivered through on premise as well as cloud models. Further, they are also developing integrated mobile applications with cloud to enhance the mobility of customer. The market is increasingly witnessing a shift towards cloud service.

Retailers have adopted enterprise application to monitor and control their business processes. The healthcare industry would highly adopt enterprise applications to gain data transparency in real time. This allows the entire value chain involved in the healthcare industry to provide a patient-centric system. Realizing the business potential, market players such as Oracle, SAP and Infor are in the process of developing enterprise application for the healthcare industry.

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Customers today, prefer cloud enabled applications over conventional delivery model as it enables their workforce to access information for critical business decision anytime and anywhere. Hence, this results into a higher productivity and efficiency of the businesses. The surge in cloud technology would drive the adoption of cloud enabled applications.

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Enterprise application facilitates an easy flow of internal and external business information. Furthermore, the integration of business processes is effectively rendered through implementation of enterprise application. Thus, these benefits lead to a large adoption of enterprise applications among customers. CRM and ERP application would drive the enterprise application market significantly by year 2020, together contributing to around 2/5th of overall market revenue. The CMS application would grow rapidly in future, as it finds increasing use in converting unstructured data into structured information and allows a non-technical user to manage content on a website easily.

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