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Enterprise Application Market Expected to Reach $259.51 Billion By 2022: Grand View Research, Inc.

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Enterprise Application Market Expected to Reach $259.51 Billion By 2022: Grand View Research, Inc.

September 10
16:37 2019
Enterprise Application Market Expected to Reach $259.51 Billion By 2022: Grand View Research, Inc.

Grand View Research, Inc. – Market Research And Consulting.
According to report published by Grand View Research, The global enterprise application market size was pegged at USD 164.46 billion in 2016 and is expected to develop at a CAGR of 7.8% over the forecast period.

The global enterprise application market size is estimated to be worth USD 259.51 billion by 2022, according to a new study by Grand View Research, Inc., registering a 7.8% CAGR during the forecast period. Increasing need among organizations for single data access point is anticipated to drive industry growth over the forecast period.

Implementation of enterprise application solutions enables real-time data and information flow along with level running of business process. Use of these solutions enables better customer engagement, inventory management, quality management, and supply chain management. Increasing IT budgets of companies is expected to favor industry growth over the next few years. However, availability of open source solutions and high maintenance costs may hinder industry growth.

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North America enterprise application market size, by deployment, 2012 - 2022 (USD Billion)

Key Takeaways from the report:

  • Web conferencing is useful for conducting seminars, business meetings, online presentations, online educations, demonstrations, and offering direct customer support. Companies adopt web conferencing to reduce geographical barriers and enable effective communication across regions
  • Business Process Management (BPM) offers benefits such as increased customer satisfaction, improved agility, cost saving, greater team satisfaction, and full transparency of all activities across the organization
  • The healthcare sector is estimated to exhibit a CAGR of over 9.0% from 2015 to 2022. Increasing need for real-time data transparency is anticipated to drive growth over the forecast period
  • In 2014, on-premise solutions accounted for around 67.0% of the overall revenue. However, cloud-based solutions are becoming popular among small-scale companies owing to budget limitations and the many benefits this platform offers
  • The North America market is estimated to be a major regional segment owing to changing organizational structure and customer-centric approach of companies in the region
  • Europe is estimated to exhibit a CAGR of around 6.0% over the forecast period; Asia Pacific is also anticipated to witness strong growth owing to rising number of start-ups and presence of large number of small-scale industries
  • Key industry participants include Hewlett Packard (HP); Oracle; Microsoft Corporation; IFS AB; SAP; QAD Inc.; IBM Corporation; Epicor software Corp.; and Infor
  • In 2014, SAP invested USD 2.54 billion in research and development to enhance its offerings. In March 2014, the company announced the acquisition of Fieldglass, a vendor management system provider.

 Europe enterprise application market share, by end use, 2016 (%)

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Grand View Research has segmented the enterprise application market report on the basis of product, end use, deployment, and region:

Enterprise Application Product Outlook (Revenue, USD Billion, 2012 – 2022)

  • CRM
  • ERP
  • SCM
  • Web Conferencing
  • BI
  • BPM
  • CMS
  • EAM
  • Others

Enterprise Application End-use Outlook (Revenue, USD Billion, 2012 – 2022)

  • Manufacturing
  • BFSI
  • Healthcare
  • Retail
  • Government
  • Aerospace & Defense
  • Telecom & IT
  • Others

Enterprise Application Deployment Outlook (Revenue, USD Billion, 2012 – 2022)

  • On-premise
  • Cloud

Enterprise Application Regional Outlook (Revenue, USD Billion, 2012 – 2022)

  • North America
  • Europe
  • Asia Pacific
  • RoW

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About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

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