Press release
Enterprise High-Productivity Application Platform Market Estimated to Observe Significant Growth by 2020-2030
Companies are highly focused on system modernization and expansion of their customer reach by increasing the efficiency of business operations. Solution providers are offering solutions with customized application interface, seamless integration, agility, easy deployment, and built-in security.
Companies are investing in CRM technologies that fuel the demand for enterprise high-productivity application platforms. Demand for enterprise high-productivity application platforms is expected to increase among large enterprises in the automobile, retail, utility, and banking sectors.
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Key Drivers of the Enterprise High-Productivity Application Platform Market
Increase in demand for custom-built enterprise platform to enhance productivity is expected to drive the enterprise high-productivity application platform market. Rising demand for an enterprise platform that helps in the development of quick go-to-market and products in a short period is also projected to propel the market.
Increase in digitalization and adoption of customized application in production process in different industry verticals is estimated to offer significant opportunities for solution providers during the forecast period
Lack of skilled workforce and high cost of enterprise high-productivity application platform to hinder market
Lack of skilled workforce to utilize all the features and applications of platforms for business planning and implantation of strategies is likely to restrain the market
The high cost of enterprise high-productivity application platform cannot be afforded by small and medium-size enterprises. This is also expected to hamper the market.
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Impact of COVID-19 on Global Enterprise High-Productivity Application Platform Market
Companies are decreasing their investment in new technologies during the COVID-19 period due to low return of investment and unavailability of workforce during lockdown conditions
Demand for enterprise high-productivity application platform solutions is decreasing during COVID-19. This is estimated to increase during the forecast period due to changing business policies and adoption of advanced production technologies to expand businesses.
North America to Hold Major Share of Global Enterprise High-Productivity Application Platform Market
North America holds a prominent share of the enterprise high-productivity application platform market due to an increase in adoption of advanced enterprise production software and tools by companies to utilize assets and implement better strategies for business expansion.
The enterprise high-productivity application platform market in Asia Pacific is projected to expand at a rapid pace during the forecast period due to increasing investment by industry leaders to provide enterprise software solutions in order to capture more market share in the region.
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Key Players Operating in Global Enterprise High-Productivity Application Platform Market
Oracle Corporation
Oracle Corporation is a U.S.-based information technology company. The company provides applications, platforms, and IT infrastructure products and services. It has three business segments: Cloud and Licensing, Hardware, and Services. The services segment offers consulting services, advanced customer support services, and education services. Oracle Corporation offers solutions in artificial intelligence, application integration, digital assistance, Internet of Things, enterprise communication, and enterprise architecture solutions.
Salesforce.com, Inc.
Salesforce.com, Inc. is a global company that provides customer relationship management services to different industries. The company offers technological platforms to businesses to build and run business applications. Salesforce.com, Inc. offers a solution that helps users to manage their customer records, sales, and other enterprise operational data. The company also provides solutions in marketing, analytics, sales, commerce, and services sectors.
Other key players operating in the global enterprise high-productivity application platform market include OutSystems, Mendix Technology B.V., ServiceNow, Inc., Microsoft Corporation, Appian Corporation Inc., Workday, Inc., and Kintone Corporation.
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