Advertisement
UK markets close in 3 hours 2 minutes
  • FTSE 100

    7,951.89
    +19.91 (+0.25%)
     
  • FTSE 250

    19,860.10
    +49.44 (+0.25%)
     
  • AIM

    743.09
    +0.98 (+0.13%)
     
  • GBP/EUR

    1.1684
    +0.0015 (+0.13%)
     
  • GBP/USD

    1.2634
    -0.0004 (-0.03%)
     
  • Bitcoin GBP

    56,011.78
    -394.73 (-0.70%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • S&P 500

    5,248.49
    +44.91 (+0.86%)
     
  • DOW

    39,760.08
    +477.75 (+1.22%)
     
  • CRUDE OIL

    82.42
    +1.07 (+1.32%)
     
  • GOLD FUTURES

    2,232.20
    +19.50 (+0.88%)
     
  • NIKKEI 225

    40,168.07
    -594.66 (-1.46%)
     
  • HANG SENG

    16,541.42
    +148.58 (+0.91%)
     
  • DAX

    18,490.35
    +13.26 (+0.07%)
     
  • CAC 40

    8,224.58
    +19.77 (+0.24%)
     

Global Enterprise Application Market Size, Share & Industry Trends Analysis Report By Component, By Solution Type, By Deployment Type, By Organization Size, By Vertical, By Regional Outlook and Forecast, 2021 - 2027

ReportLinker
ReportLinker

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. Business process management (BPM) and software configuration management (SCM) are examples of enterprise application solutions that enable businesses track production from procurement to delivery to the end customer and manage inventory.

New York, April 04, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Enterprise Application Market Size, Share & Industry Trends Analysis Report By Component, By Solution Type, By Deployment Type, By Organization Size, By Vertical, By Regional Outlook and Forecast, 2021 - 2027" - https://www.reportlinker.com/p06249487/?utm_source=GNW
The use of these technologies allows for accurate and real-time business information flow between departments in any organization.

Enterprise application implementation allows for a smooth flow of business data both inside and outside the firm. Using appropriate technologies, data can be gathered and saved from a variety of sources, including social media. Enterprise applications are becoming more popular among businesses as they help them cut expenses and expand their market share. They aid in increasing the overall efficiency and productivity of the company. A growing number of businesses across a variety of industries are working to improve customer service.

Data breaches and leaks have become increasingly regular and harmful as organisations and services have gone digital on an unprecedented scale. Malicious software, ransomware, DDoS attacks, and cybercrime, such as phishing and other scams, pose a threat to both small and large businesses. Hashing protocols, particular machine learning algorithms, encryption, firewalls, access control, and data loss prevention are among the security solutions to be used in 2021.

Progressive Web Applications (PWAs) are mobile apps that are integrated into a web page or installed on a user’s system, redefining how people access online content. They impress a rising number of users with a wide range of benefits, including being intuitive, linkable, lightweight, and traceable by search engines, as well as the capacity to work across multiple platforms.

COVID 19 Impact

An increase in the number of patients around the world has led to a worldwide lockdown, forcing the population to stay at home for an extended period of time. This has resulted in a rise in the use of web-based platforms for a variety of services, like internet banking and online shopping. The rising number of online consumers makes it extremely challenging to adequately handle company data. This data is managed with the help of enterprise application software. Due to the closure of retail stores and malls, this has resulted in a major increase in enterprise application software adoption and preplanned investments. Furthermore, as a result of the COVID-19 pandemic, online banking services are growing at the fastest rate in the world, resulting in increasing use of enterprise application software for a variety of purposes, including client retention and customer need optimization.

Moreover, corporate application software usage is likely to rise in a number of sector verticals, including healthcare and pharmaceuticals, as well as retail, where it was low prior to the COVID-19 crisis. Additionally, following COVID-19, it is expected that numerous healthcare organizations would then prefer big data and cloud technology to implement customer requirement analysis and track customer orders in the pharma industry to combat future pandemic situations and to predict possible situations before they occur.

Market Growth Factors:

Growing demand for fulfilling regulatory compliance standards and audit management

Audits are a dreadful reality for any company. Businesses are making significant changes to their IT systems and internal processes to comply with government regulations and mandates such as the Sarbanes-Oxley Act, HIPPA’s severe security requirements, OSHA, and the Securities and Exchange Commission. With built-in audit trails that offer access histories and transactions for each document, enterprise content management makes this easier. Government regulations necessitate the preservation of various types of data and records, and the requirements are frequently complex.

Improved visibility and transparency in supply chain data and procedures

Previously, the largest barrier to accomplishing supply chain objectives has been a lack of visibility and transparency. Most businesses lack the supply chain transparency and insight required to better predict and prevent disruptions and inventory imbalances. This is partly due to an inability to manage an enormous volume of data spread across various processes, sources, and systems. Organizations in the supply chain are struggling to keep up with both technology advancements and the changes that the digital era is bringing to sectors and marketplaces.

Market Restraining Factors:

Data security and privacy concerns

Organizations throughout the world are concerned about security and compliance, and they are hesitant to implement new solutions that include data handling or data migration from one platform to another. Data collection and transmission from one channel to another are part of enterprise content management. Many firms believe that enterprise content management solutions would result to data theft in their highly abstracted data sets caused by a lack of sufficient information about security standards and their implementation.

Component Outlook

Based on Component, the market is segmented into Solution and Services. Based on Solution Type, the market is segmented into Supply Chain Management, Enterprise Resource Planning, Customer Relation Management, Business Process Management, Enterprise Asset Management, Business Intelligence, Content Management System, and Others. The Solution segment dominated the enterprise application market with the largest revenue share in 2020. Enterprise Application Solutions are a collection of software programs that businesses utilize to improve their operations and business effectiveness.

Deployment Type Outlook

Based on Deployment Type, the market is segmented into On-premise, Cloud and Hybrid. The cloud segment garnered a substantial revenue share in the enterprise applications market in 2020. Due to budget restrictions and the numerous benefits offered by this platform, cloud-based solutions have become extremely prevalent among small businesses. Cloud storage is a more convenient solution because of the reasonable pricing, good maintenance, and speedier connectivity while running several applications. Businesses, charities, clubs, schools, governments, and others employ cloud enterprise application software to meet the needs of organizations as a whole rather than individual users. Cost, customization, and simple connection with third-party apps have all contributed to the technology’s widespread acceptance.

Organization Size Outlook

Based on Organization Size, the market is segmented into Large Enterprises and Small & Medium-Sized Enterprises. The Large Enterprise segment garnered the maximum revenue share of the Enterprise Application Market in 2020. Large organizations can use enterprise applications to prepare for the future and simplify any issues that may arise along the road.

Vertical Outlook

Based on Vertical, the market is segmented into Telecom & IT, BFSI, Government, Retail, Manufacturing, Healthcare and Others. The Manufacturing sector recorded a substantial revenue share in the enterprise application market in 2020. Manufacturers expect their ERP systems to assist them in managing a growing volume and variety of data. While transaction data has traditionally been the focus of analysis, machine/sensor data, GPS data, and unstructured data from social networks are increasingly being used. This would contribute to the growth of the market.

Regional Outlook

Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. Asia Pacific registered a promising revenue share in the enterprise application market in 2020. This is due to the widespread use of mobile enterprise application services and solutions by businesses. The significant rise in the APAC area is due to a number of causes, including massive economic advancements, globalization and foreign direct investments, increased smartphone penetration, and internet uptake in the workforce.

The major strategies followed by the market participants are Partnerships. Based on the Analysis presented in the Cardinal matrix; Microsoft Corporation is the major forerunner in the Enterprise Application Market. Companies such as Oracle Corporation, IBM Corporation and SAP SE are some of the key innovators in the Market.

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include 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).

Recent Strategies deployed in Enterprise Application Market

Partnerships, Collaborations and Agreements:

Dec-2021: Microsoft teamed up with Apptio, a Washington-based company that develops technology business management software as a service applications. Following the collaboration, the companies aimed to deploy Apptio’s financial decisioning platform on the Microsoft Cloud to help enterprises to optimize workloads. Additionally, this collaboration would help customers to consume Microsoft’s cloud services with the visibility and control they need.

Nov-2021: Microsoft entered into a partnership with Meta, an American multinational technology conglomerate. Following the partnership, the companies allow the consumer to access workplace content inside the Microsoft Teams app.

Sep-2021: SAP teamed up with Infosys, provider of business consulting, information technology and outsourcing services. Following the collaboration, the companies aimed to supply Business Process Transformation to identify opportunities and problems in the transformation journey and create a roadmap for clients.

Jul-2021: IBM formed a partnership with two SAP finance and data management solutions. The collaborations aimed to accelerate IBM cloud within the financial services. Moreover, the design would help the companies to address the industry security and resiliency requirements, stringent compliance while supporting business transformation and innovation for financial services institutions.

Jun-2021: IFS came into a partnership with Crosser, a leading low-code platform for the Industrial Internet of Things. Through this partnership, the companies aimed to provide a low-code Crosser, easy-to-use platform, helping companies organize and manage their IoT solutions. In addition, to make a simple and smart way to pull out value from asset data.

Jun-2021: Salesforce expanded its partnership with AWS, a subsidiary of Amazon providing on-demand cloud computing platforms and APIs to individuals, companies, and governments. This partnership focused on making it easier for consumers to use Salesforce and AWS capabilities together to develop new applications to boost digital transformation.

Apr-2021: SAP SE extended its partnership with Accenture, Ireland-based multinational professional services company. This partnership aimed to help organizations implant sustainability in their business operations from strategy to execution to unlock new value in their supply chains and value.

Mar-2021: Infor formed a partnership with C3 AI, a leading enterprise AI software provider. This partnership aimed to expand enterprise-class artificial intelligence across the applicable industries. In addition, the companies also aimed to explore the edge scenarios and analyze the deeper capabilities offerings.

Feb-2021: QAD signed a partnership agreement with ESDS Software Solution, a leading managed data center service and auto-scalable cloud solution provider. The companies aimed to increase their wide range and abilities to support the customers as they continue to navigate these trying times.

Feb-2021: IBM formed a partnership with Palantir Technologies, an American software company that specializes in big data analytics. Under this partnership, the companies aimed to develop easy-to-use businesses AI with the help of IBM’s hybrid cloud data and Palantir’s application to work and become data-driven through their operations.

Feb-2021: SAP came into a partnership with Software AG. This partnership aimed to improve supply chain management data along with enhancing data quality.

Dec-2020: Salesforce teamed up with YES Bank, an Indian private sector bank. The collaboration aimed to develop a next-generation technology platform to empower the retail lending business, along with the Bank’s strategy to further scale up its retail assets portfolio. In addition, the collaboration also aimed to engage customers with a unified experience and drive aggressive retail-led growth for the Bank.

Dec-2020: Microsoft extended its partnership with SAP for designing and operating a digital supply chain and industry 4.0 solution in the cloud and edge. This partnership aimed to provide regular clients the ability to leverage SAP Digital Supply Chain and produce solutions in the cloud for better business vision and launch their applications across the world.

Dec-2020: SAP SE extended its partnership with Tech Mahindra, a leading provider of digital transformation, consulting, and business reengineering services and solutions. This partnership would enable customers to get benefit from enhanced solution delivery, increased global access, improved pricing options, and increased implementation services of SAP software.

Aug-2020: QAD came into a partnership with eNoah iSolutions, a leader in offering cutting-edge BPO and IT solutions worldwide. The partnership aimed to scale QAD Adaptive ERP applications in the North American region.

Jun-2020: Epicor Software Corporation entered into a partnership with ETQ, a leading provider of quality management solutions. The partnership aimed to deliver a flexible, powerful, easy-to-use Epicor QMS for mid-market organizations. Moreover, it allows companies to increase the quality perspective for the clients and provide their industry expertise with a strong aim in the electronics, manufacturing industries, and medical devices.

Product Launches and Product Expansions:

Jan-2022: Infor released the new Infor Marketplace. The product offers solutions for customer enhancement and Infor investment. Moreover, the marketplace is developed to make it simple for the clients to locate, source, and license industry and micro-vertical solutions that match the suite of enterprise software.

Oct-2021: Epicor introduced new updates in Epicor Kinetic, its cloud-based ERP platform for manufacturers. Through these updates, the company strengthened its mission of building premium Industry Cloud solutions to increase streamline operations and boost profitability for manufacturers.

Oct-2021: QAD introduced the new updates to the QAD Adaptive ERP and the QAD Adaptive Applications. Through these updates, application offerings would help producers to become Adaptive Manufacturing Enterprises.

Aug-2021: Salesforce launched Salesforce+, an all-new streaming service. This product would provide all the streaming utilities with live and on-demand for content for every role, industry for all organizations. Moreover, the product is offering an always-on, business media platform that develops trusted relationships with consumers and the business community.

Jun-2021: Hewlett Packard Enterprise expanded the HPE GreenLake edge to cloud platform including support for Microsoft Azure Stack HCI and Microsoft SQL Server. The updates of the product provide flexibility and agility to the organization looking for simplified, scalable, and cloud-native architecture on-premises.

Jun-2021: SAP introduced SAP Business Network. Through this launch, SAP aimed to develop a forum around the main product line that would help the organization boost visibility across supply chains.

Apr-2021: IBM introduced new capabilities for IBM Watson. The solution aimed to help businesses build trustworthy AI and expand Waston tools helping the organization to increase insight accuracy, mitigate risks, AI-led decisions, and meet their compliance requirements.

Mar-2021: IFS launched IFS Cloud, a product that delivers end-to-end capabilities of a client orchestrate to its people, customers, and assets and convey best Moments of Service. Through this software, an organization can easily scale and switch on new modules and innovation capabilities.

Mar-2021: QAD introduced QAD DynaSys Digital Supply Chain. The company aimed to support responsive and well-informed decision-making. In addition, QAD DynaSys Digital Supply is organizing to deliver innovative technology to give customers from disruption to recovery.

Oct-2020: Epicor introduced the 10.2.700 release of its enterprise resource planning solution. The new release supports global manufacturers to adapt to the ever-changing workplace with reliable cloud enhancements and higher security access to data and order creation remotely. Moreover, Epicor ERP 10.2.700 permits remote workers and clients of all new territories.

Sep-2020: Salesforce launched Digital 360. The product aimed to increase consumer engagement and growth in the digitally working world. Moreover, the product delivers new services and technology helping the digital consumer to create, be personalized, and connect around commerce and marketing.

Jul-2020: Hewlett Packard Enterprise launched HPE Ezmeral a new software. Through this launch, the company aimed to help enterprises accelerate the digital transformation from edge to cloud. Moreover, the product suite includes AI/ML and data analytics to cost control, IT automation, AI-driven operations, orchestration and management, and security.

Apr-2020: Epicor Software Corporation introduced Epicor Commerce Connect Express, a new portal to its existing Epicor Commerce Connect solution. The product would improve organization quality online experiences, productivity, and stay connected to their valued clients and distributor.

Acquisitions and Mergers:

Dec-2021: QAD took over WebJaguar, e-commerce, and marketing automation platform. Under this acquisition, QAD would expand the comprehensive customer management offering with new capabilities for meeting users’ requirements, wherein they want to boost their sales, buy, and decrease the costs associated with orders.

Oct-2021: Infor took over Lighthouse Systems, a global provider of manufacturing execution systems. The acquisition aimed to integrate Infor’s CloudSuite ERP with MES solution to enable infor for manufacturing sectors customers.

Sep-2021: Epicor completed the acquisition of CBC Computer Systems and its Decor Fusion point-of-sale. The acquisition aimed to provide Epicor retailers boost, simplify processes, performance, profits, engage customers in the Paint and Decorating markets to boost and transform their organization into a one-stop solution.

Sep-2021: Hewlett Packard Enterprise took over Zerto, provider of disaster recovery, backup, and workload mobility software for virtualized infrastructures and cloud environments. Following the acquisition, the company aimed to resolve the consumer challenges and become the leader in data management under the protection of HPE GreenLake cloud services.

Jul-2021: IFS took over Customerville, a Design-Driven Feedback technology provider. Under this acquisition, Customerville would be integrated into the IFS Cloud proposition to enhance the IFS customer’s engagement with their clients, services, innovation in products, and results.

Jul-2021: Salesforce completed the acquisition with Slack Technologies, the American international software company. The acquisition aimed to structure the future of enterprise software and modify the way of working digitally.

Jun-2021: IFS took over Axios Systems, Service Desk, IT Service Management, and IT Asset Management software provider. Through this acquisition, IFS aimed to strengthen its leadership in Service Management with the addition of Axios Systems’ IT Operations Management and IT Service Management potential.

Jun-2021: IBM completed the acquisition with Turbonomic, an Application Resource Management and Network Performance Management software provider based in Boston. Following the acquisition, the company aimed to reach and serve more customers around the world providing application hosting across any cloud environment.

May-2021: Epicor took over KBMax, revolutionizing the CPQ & eCommerce market. This acquisition aimed to resolve the clients’ problem, providing them access to create an informational and immersive buying experience. Moreover, the integration of the next-gen CPQ tools with the ERP system would allow customers around pricing, costs, inventory, and customer data.

Scope of the Study

Market Segments covered in the Report:

By Component

• Solution and

• Services

By Solution Type

• Supply Chain Management

• Enterprise Resource Planning

• Customer Relation Management

• Business Process Management

• Enterprise Asset Management

• Business Intelligence

• Content Management System, and

• Others

By Deployment Type

• On-premise

• Cloud and

• Hybrid

By Organization Size

• Large Enterprises

• Small & Medium-Sized Enterprises

By Vertical

• Telecom & IT

• BFSI

• Government

• Retail

• Manufacturing

• Healthcare

• Others

By Geography

• North America

o US

o Canada

o Mexico

o Rest of North America

• Europe

o Germany

o UK

o France

o Russia

o Spain

o Italy

o Rest of Europe

• Asia Pacific

o China

o Japan

o India

o South Korea

o Singapore

o Malaysia

o Rest of Asia Pacific

• LAMEA

o Brazil

o Argentina

o UAE

o Saudi Arabia

o South Africa

o Nigeria

o Rest of LAMEA

Companies Profiled

• IBM Corporation

• Oracle Corporation

• Microsoft Corporation

• SAP SE

• Salesforce.com, Inc.

• Hewlett-Packard Enterprise Company

• IFS AB

• QAD, Inc. (Thoma Bravo)

• Epicor Software Corporation

• Infor, Inc. (Koch Industries)

Unique Offerings

• Exhaustive coverage

• Highest number of market tables and figures

• Subscription based model available

• Guaranteed best price

• Assured post sales research support with 10% customization free
Read the full report: https://www.reportlinker.com/p06249487/?utm_source=GNW

About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.

__________________________

CONTACT: Clare: clare@reportlinker.com US: (339)-368-6001 Intl: +1 339-368-6001