Market Overview:
Enterprise search software helps organizations search within their intranets, document repositories, CRM systems, web pages, contacts and emails. It provides fast, relevant results to users’ queries from both structured and unstructured content. This improves employee productivity and decision making.
Market key trends:
One of the key trends in the enterprise search market is the adoption of hybrid cloud deployment model. Hybrid cloud deployment allows enterprises to host sensitive applications and data on-premises while leveraging public cloud infrastructure for other workloads. This provides flexibility and cost savings. Many organizations are opting for hybrid cloud-based enterprise search solutions as it allows them to achieve scalability of public cloud with security and control of on-premises deployment. Hybrid cloud deployment is gaining popularity as it offers the best of both on-premise and public cloud models.
The global Enterprise Search Market Demand is estimated to be valued at US$ 5698.07 Mn in 2023 and is expected to exhibit a CAGR of 11% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
The global enterprise search market is segmented by deployment into cloud and on-premises. The cloud segment dominated the market in 2022 and is expected to continue its dominance over the forecast period. This is due to the advantages associated with cloud deployment such as scalability, flexibility, no upfront costs and less maintenance.
Key Takeaways
The global enterprise search market is expected to witness high growth, exhibiting CAGR of 11% over the forecast period, due to increasing need for unified search experience across various enterprise platforms and growing volume of enterprise data.
Regional analysis:
North America dominated the enterprise search market in 2022 and is expected to continue its dominance over the forecast period. This is attributed to early adoption of advanced technologies and presence of major players in the region. Asia Pacific is expected to grow at the fastest pace during the forecast period owing to rapid digital transformation of enterprises in countries like China and India.
Key players:
Key players operating in the enterprise search market are IBM Corporation, Lucid Work Incorporation, Microsoft Corporation, Dassault Systems S.A., Oracle Corporation, X1 Technologies Inc., SAP AG, Coveo Corporation, and Attivio Software Incorporation. IBM offers Watson Discovery platform for enterprise search to enhance decision-making with AI-powered insights. Microsoft provides Bing and SharePoint search for enterprise search needs.
The Enterprise Search Market 2021 research report gives emerging industry data, global segments and regional outlook.
The report generated using various analysis tools like porter’s five forces model, market attractiveness and value chain.
The report gives comprehensive review of the global market helping to club revenue generation and profitable business to transform client’s success.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the enterprise search market include Attivio, Dassault Systemes Inc., Dieselpoint Inc., Microsoft Corporations, Google, Expert System Inc., IBM, HP Autonomy, Oracle, Coveo Solutions, SAP, EMC Corporation.
This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Enterprise Search Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/enterprise-search-market/download-sampleMarket DynamicsThe rising demand for time-saving data search systems and solutions is expected to be the prime growth factor for the enterprise search market.
The rising data volumes sourced from varied gateways in the large enterprises have generated a need for managing and organizing it, which is creating its demand in the coming years.
