Enterprise Software Market Size Segmentation:
The global Enterprise Software Market Size is segmented on the basis of type, organization size, end use vertical, and region.
By type, the global Enterprise Software Market Size is segmented into enterprise resource planning (ERP), business intelligence (BI), supply chain management (SCM), customer relationship management (CRM), web conferencing collaboration, and others.
By organization size, the global Enterprise Software Market Size is segmented into SMEs and large enterprises.
By end use vertical, the global Enterprise Software Market Size is segmented into BFSI, healthcare, manufacturing, IT and telecommunication, media and entertainment, transportation, energy and utilities, retail, and others.
Regional Analysis:
North America is likely to dominate the global Enterprise Software Market Size over the forecast period. The presence of leading players in the U.S. is one of the major drivers for the enterprise software market in North America. Asia Pacific is expected to exhibit the highest growth rate over the forecast period.
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Market Highlights
The global Enterprise Software Market Size is expected to exhibit a strong 8% CAGR over the forecast period from 2017 to 2023, according to the latest research report from Market Research Future (MRFR). The global enterprise software market is expected to reach a valuation of USD 634 billion by 2023, according to the report. The report presents a detailed evaluation of the global enterprise software market’s future growth prospects over the forecast period from 2017 to 2023. Historical data illustrating the market’s growth over the historical study period is provided in detail in the report. Based on this historical data, accurate projections are made for the global enterprise software market. Leading drivers and restraints affecting the global Enterprise Software Market Size are profiled in the report in order to give readers a clear idea of the growth prospects of the market. Major players operating in the global enterprise software market are also profiled in the report in order to give readers an accurate picture of the competitive landscape of the market. The impact of the COVID-19 pandemic on the global enterprise software market is also studied in the report.
Enterprise software, also known as enterprise application software, is computer software used to cater to the needs of organizations rather than individuals. The organizations using enterprise software include but are not limited to governments, schools, charities, and businesses. Services provided by enterprise software include but are not limited to online payment processing, automated billing, business process management, security, enterprise content management, project management, IT service management, business intelligence, customer relationship management, and enterprise resource planning. The increasing use of online payments by various organizations is likely to remain a major driver for the global enterprise software market over the forecast period. Online payments are favored by various organizations due to the convenience they provide to the users. This has led to an increasing demand from the enterprise software market in recent years.
The increasing demand for big data analytics in order to derive business insights is likely to be a major driver for the global enterprise software market over the forecast period. Big data analytics have become a major resource for organizations over the last few years due to their use in deriving business-related insights that can help the business grow and prosper in difficult economic times. The growing use of cloud data storage is also likely to be a major driver for the global enterprise software market over the forecast period.
Competitive Leaderboard:
Leading players in the global enterprise software market include VMware Inc., CA Technologies Inc., HP, Symantec Corporation, EMC Corporation, SAP SE, Salesforce.com Inc., Oracle Corporation, IBM Corporation, and Microsoft Corporation. IBM, Oracle, and Microsoft are among the leading players in the global enterprise software market and are likely to dominate the market in the coming years.
IBM Corporation has partnered with Salesforce in order to integrate their artificial intelligence platforms to deliver enhanced customer service experience. Salesforce’s in-house artificial intelligence technology called Einstein and IBM’s cognitive computing technology Watson will work together with this partnership.
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Enterprise Software Market, By Type (ERP, CRM, BI, SCM, Web Conferencing Collaboration), By Organization Size (SMEs and Large Enterprises), By Vertical (BFSI, Healthcare, Retail, IT & Telecommunication) - Forecast 2027
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