The global Enterprise Software Market Size 2020 is in talks as it is likely to expand at a valuation of USD 634 Billion. Whereas, the market is also termed to grow at a rate of 8% CAGR.
Market Key Players
IBM Corporation (U.S.), Salesforce.Com, Inc. (U.S.), VMware, Inc. (U.S.), HP (U.S.), EMC Corporation (U.S.), Sap Se (Germany), CA Technologies, Inc. (U.S.) Oracle Corporation (U.S.), Microsoft Corporation (U.S.), Symantec Corporation (U.S.), are the well-known players in the global Enterprise Software Market Size.
Top Market’s Driver & Challenges
The study predicts that countless opportunities are knocking the door of the market as key players such as IBM Corporation, Oracle Corporation, and Microsoft Corporation are endowing heavily in the market. This way, the market is getting a considerable push, which has been considered as one of the leading factors causative to the market share.
At the same time, the Enterprise Software Market Size is expanding due to the swelling demand from various industry verticals such as IT & telecommunication, BFSI, manufacturing, healthcare, and more. In fact, the rising need for real-time computing of applications is also considered as one of the noteworthy factors operating the growth of the Enterprise Software Market Size.
The study also claims that IBM Corporation has currently partnered with Salesforce to integrate its artificial intelligence platforms to deliver superior customer service experience. Salesforce’s in-house artificial intelligence technology known as Einstein and IBM’s cognitive computing technology Watson is prepared to work together with this partnership. These factors have thus been influential for the market to expand at a rapid pace.
On the other hand, other significant factors driving the growth of the Enterprise Software Market Size are the growing trend of big data analytics, analytics as well as cloud computing. Therefore, the increasing demand for business intelligence and analytics is yet another major factor driving the growth of the Enterprise Software Market Size.
Segmentation of Market: Enterprise Software
As per the reading, the global Enterprise Software Market Size has further been segmented by the elements of type, organization size, and vertical.
In terms of type: Business intelligence (BI), supply chain management (SCM), customer relationship management (CRM), web conferencing collaboration are the segments. Among these, the enterprise resource planning and customer relationship management sub-segments occupy an outstanding market share due to its developing number of applications. While this is studied, further, it is also expected to lead the market share of the Enterprise Software Market Size during the assessment period.
With organization size: SMEs and large enterprises are the segments.
In terms of Vertical: BFSI, Healthcare, Manufacturing, IT & Telecommunication, Media & Entertainment, Transportation, Energy & Utilities, Retail are the segments.
As per the learning, the global market for enterprise software has further been spanned across the regions of Asia Pacific, North America, Europe and Rest of the World
Among these, the North American region occupies the largest market share of the global Enterprise Software Market Size. The U.S. and Canada mainly lead the growth in North America region that is ascribed to the intensifying demand for cloud computing applications. The region also is known for having a well-established infrastructure that allows the implementation of advanced technologies.
The next is the Asia Pacific region that has driven the market by high demand for business analytics from developing countries such as China, India, South Korea, and Japan. Therefore, the region is probable to witness relatively faster adoption of enterprise software and is slated to be the firmest-growing market for enterprise software as well in the assessment period.
LIST OF TABLES
TABLE 1 ENTERPRISE SOFTWARE MARKET SIZE, BY TYPE
TABLE 2 ENTERPRISE SOFTWARE MARKET SIZE, BY ORGANIZATION SIZE
TABLE 3 ENTERPRISE SOFTWARE MARKET SIZE, BY VERTICAL
TABLE 4 ENTERPRISE SOFTWARE MARKET SIZE, BY REGIONS
TABLE 5 NORTH AMERICA ENTERPRISE SOFTWARE MARKET SIZE, BY TYPE
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LIST OF FIGURES
FIGURE 1 RESEARCH TYPE
FIGURE 2 ENTERPRISE SOFTWARE MARKET SIZE, BY TYPE (%)
FIGURE 3 ENTERPRISE SOFTWARE MARKET SIZE, BY ORGANIZATION SIZE (%)
FIGURE 4 ENTERPRISE SOFTWARE MARKET SIZE, BY VERTICAL (%)
FIGURE 5 ENTERPRISE SOFTWARE MARKET SIZE, BY REGIONS (%)
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