Published Date: 31-Mar-2022
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According to a new report, published by KBV research, The Global Enterprise Application Market size is expected to reach $468.2 billion by 2027, rising at a market growth of 9.0% CAGR during the forecast period.
The Services market is showcasing a CAGR of 11.7% during (2021 - 2027). The Service segment procured a significant revenue share. Customer experience (CX), human capital management (HCM), enterprise resource planning (ERP), customer relationship management (CRM), supply chain management (SCM), finance, and other front- and back-office company operations can all be digitally transformed using EAS. As a result, EAS can assist a company in better sharing information, simplifying IT operations, automating workflow, and increasing IT flexibility.
The On-premise segment acquired maximum revenue share in the Global Enterprise Application Market by Deployment Type 2020; thereby, achieving a market value of $184.4 billion by 2027. The on-premise segment growth is ascribed to its extensive use of proprietary enterprise application software, which is deployed in-house by the company's specialized IT development team. The security of company data and apps is a primary issue for organizations, thus many prefer on-premise software deployment. The enterprise application software handles business-critical data such as firm financials, corporate trade secrets, and employee information, necessitating full control over the software and guaranteeing that the data is secure.
The Small & Medium-Sized Enterprises segment has high growth rate of 10.6% during (2021 - 2027). The SMEs segment obtained a substantial revenue share. Enterprise applications and solutions have been implemented by start-ups and small and medium-sized organizations (SMEs) to regulate and analyze business processes, which are expected to contribute to revenue growth. Because start-ups and SMEs have little money, they are unable to invest in substantial infrastructure requirements or cutting-edge technology. As a result, the majority of SMEs choose cloud-based services.
The Telecom & IT segment is generating high revenue in the Global Enterprise Application Market by Vertical 2020, thereby, achieving a market value of $101.8 billion by 2027. The telecom industry is constantly changing from the past few years. This is due to quickly evolving technology, increased demand, client diversification, need for current products and services at lower rates, and the merger of numerous industries, such as cable and satellite, with established telecoms. As a result, CSPs (cloud service providers) should be able to maintain and administer a variety of systems and applications across many functions by using EAI to achieve logical business process integration among disparate application platforms.
The North America is fastest growing region in the Global Enterprise Application Market by Region 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $162.3 billion by 2027. The Europe market is estimated to witness a CAGR of 8.3% during (2021 - 2027). Additionally, The Asia Pacific market would exhibit a CAGR of 10.8% during (2021 - 2027).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of IBM Corporation, Oracle Corporation, Microsoft Corporation, SAP SE, Salesforce.com, Inc., Hewlett-Packard Enterprise Company, IFS AB, QAD, Inc. (Thoma Bravo), Epicor Software Corporation, and Infor, Inc. (Koch Industries).
By Solution Type
By Deployment Type
By Organization Size
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