May 09, 2019: The global enterprise software market is projected to witness a steady CAGR of around 5.47% during 2016-2022. An enterprise software is a setup that is importantly a collection of different systems. Software is deployed for the various functions within the organization. An enterprise software may comprise an assembly of different aspects but enterprises now realize the strong need for their systems to converge with and leverage the advantage to a higher extent.
Enterprise software market is driven by growth in small and medium-sized business coupled with technological developments and advances in the software industry. Additionally, the rise in E-commerce portals and organizational approach towards deployment of enterprise software for billing and maintaining employee records and other operational functionalities are likely to propel the market growth during forecast period. Data portability and rise in business standards entails the market growth factors in the near future.
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By type, segmentation for enterprise software market includes CRM, ERP and Business Intelligence, Web-conferencing and collaboration and ECM. By solution, the market segmentation comprises SDN switching, SDN controllers and cloud virtualization. End-user segmentation for enterprise software market includes BFSI, Media & Entertainment, Transportation, Healthcare & Life Sciences and Energy & Utilities.
Geographical segmentation for enterprise software market includes North America, South America, Europe, Asia-Pacific, Middle East and Africa. North America dominates the market growth during the forecast period due to improvements in technological dimensions and enhanced capacities of cloud services.
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Availability of data centric solutions and rise in network complexity is likely to boost the regional market growth during the forecast period. Asia-Pacific regions are likely to grow at a significant CAGR in the forecast period due to rise in data centers and demand for robust data policies.
The key players in the enterprise software market include Salesforce Inc, Sap SE, EMC Corporation, Symantec Corporation, CA Technologies Inc, VMWare Inc, Red Hat, Oracle, Mentor Graphics, IBM, Symantec and Microsoft.
The global enterprise software market, which is presently at a blooming stage, holds huge potential for growth in the coming years. A need for enterprise software is growing because of rising awareness, tough competition and increasing disposable income. It is used to satisfy the needs of an organization, rather than individual users. Such organizations would include businesses, schools, interest-based user groups, clubs, charities, or governments. The countless benefits of using enterprise software has attracted end-users in the banking, manufacturing, retail, communication, insurance, automobile etc. It is anticipated that the market will post growth at a CAGR of around 5.47% during 2016-2022.
In their latest research study “Global Enterprise Software Market Outlook to 2022”, RNCOS analysts have identified and deciphered the market dynamics in important segments to clearly highlight the areas offering promising possibilities for companies to boost their growth. The report studies the market by segments to provide an overview of different segments. It has been found that analytics software market holds the major share of the total market, followed by performance management software, business process management software and audit software. Also, segmentation by geography and by industry has been studied in the report.
As per RNCOS’ study, the enterprise software market has been showing significant growth in developed economies. To provide further comprehensive information, an in-depth regional level analysis of major global enterprise software markets, viz. America, Europe, Asia-Pacific, Middle East & Africa, with forecast till 2022 has been incorporated into the report. The section also covers the current market scenario and major industry developments in each region.
All the current trends & drivers of the global enterprise software industry have been evaluated in the report to provide an unbiased outlook of the global enterprise software market to clients. The report also includes the profiles of key industry players with their business overview, product and services offering, key financials and recent developments. It gives information to readers looking to venture into this industry, and facilitates them to formulate strategies while going for an investment/partnership in the global enterprise software market.
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