Global Enterprise Software Market: Overview
Enterprise software is increasingly used by organizations
across the globe and across most industry verticals for a number of
line-of-business operations, including and not limited to human resources,
business intelligence, manufacturing, customer relationship management, sales
and service, planning, inventory and materials management, purchasing, finance
and accounting, and marketing. The primary goal of using enterprise software is
to enhance efficiency as well as productivity and gain a significant
competitive advantage.
As more and more companies upgrade core functionalities, the
global spending on enterprise
application software is anticipated to grow, with most spending
dedicated toward replacing, modernizing, or functionally expanding current
office and business applications. The approval of bigger budgets for IT
projects in companies is a positive sign for the overall enterprise software
market.
There is a rising need to gather, manage, analyze, and
optimally utilize big data to give business processes, both internal and
external, a competitive edge. This report is an ideal blueprint for clients
looking to gain this advantage over their rivals. Extensive market coverage,
in-depth analysis of the structure, scope, and dynamics of the market, and an
assessment of the key factors driving and restraining the current scenario have
been provided in this comprehensive report.
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Global Enterprise Software Market: Major Segments and Key
Trends
The shift toward cloud computing is one of the most
significant trends that has positively impacted the global enterprise software
market. Additionally, enterprise mobility solutions such as the trend of
bring-your-own-device (BYOD) have increased the adoption and implementation of
enterprise platforms. The growing demand for business intelligence and
analytics has also driven the need for enterprise application software
programs, thereby propelling the global market.
Some of the key limitations that players in the enterprise
software market have to deal with include drawbacks associated with the
software itself: customization and flexibility issues, the high cost of support
and licensing, and complexities related to the migration of existing data.
However, if companies can manage to overcome these issues, the benefits of
enterprise software can help an organization thrive in a competitive business
environment.
Enterprise software is used for a number of applications,
including web conferencing, business intelligence, customer relationship
management, project and portfolio management, digital content creation,
enterprise resource planning, enterprise content management, and supply chain
management. Enterprise software is used by organizations of all sizes – small,
medium, and large – in various industry verticals such as manufacturing, media
and entertainment, healthcare, retail, public sector, banking, financial
services, and insurance, telecom, transportation, energy and utilities, and
distribution. The major regions comprising the global enterprise software
market are Europe, Asia Pacific, North America, and Rest of the World.
Global Enterprise Software Market: Region-wise Outlook
Countries in North America and Europe have been identified
as early adopters of enterprise software such as software as a service (SaaS)
and customer relationship management (CRM). Enterprise software penetration
rates in these regions are rather high and the adoption of these solutions has
become commonplace with companies rapidly utilizing hybrid models of cloud as
well as on-premise products. Countries in the Rest of the World, especially
those in North Africa and the Middle East, have been reporting a very gradual
rise in enterprise software adoption and these countries are still at the very
early stages of SaaS penetration. The adoption of enterprise software in these
regions is restrained by the lack of data center and network infrastructure,
inadequate local-language cloud or SaaS offerings, and government regulations.
However, research indicates that investments in
local-language offerings and build-out of data centers by vendors in emerging
countries of Asia Pacific and Rest of the World are on the rise. These trends
are likely to boost the enterprise software market in these two regions.
The global enterprise software market is dominated by
players such as Salesforce.com, SAP, EMC Corporation, Symantec, Oracle
Corporation, HP, Microsoft Corporation, IBM Corporation, CA Technologies, and
VMware.
This study by TMR is all-encompassing framework of the
dynamics of the market. It mainly comprises critical assessment of consumers'
or customers' journeys, current and emerging avenues, and strategic framework
to enable CXOs take effective decisions.
Our key underpinning
is the 4-Quadrant Framework EIRS that offers detailed visualization of four
elements:
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Maps
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and Tools based on data-driven research
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to meet all the business priorities
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Frameworks to boost the growth journey
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The study strives to evaluate the current and future growth
prospects, untapped avenues, factors shaping their revenue potential, and
demand and consumption patterns in the global market by breaking it into
region-wise assessment.
The following regional
segments are covered comprehensively:
- North
America
- Asia
Pacific
- Europe
- Latin
America
- The
Middle East and Africa
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