IMARC Group, a leading market research company, has recently releases report titled Enterprise Application Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028. The study provides a detailed analysis of the industry, including the global enterprise application market size, share, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights

How big is the enterprise application market?

What is enterprise application?

Enterprise applications refer to software platforms employed to help government and business organizations manage their day-to-day operations. They simplify business and management-related tasks and facilitate cooperation and coordination of work across the organization. They include critical business processes such as accounting, human resources (HR), inventory control, finance, distribution channel, sales, marketing, and project management that help an organization in a data-centric decision-making process. They also provide several benefits, including project and portfolio management, supply chain management (SCM), and office suites. In addition, they are component-based, scalable, data-centric, and user-friendly. As a result, enterprise applications are widely adopted in government, healthcare, manufacturing, and telecommunication sectors.

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What are the growth prospects and trends in the enterprise application?

The market is primarily driven by the expanding information and technology industry. In addition, rapid digitization, and the widespread adoption of enterprise applications to offer increased efficiency, minimized risk, connected data, improved collaboration, and real-time insights to create smarter businesses are contributing to market growth. Moreover, the emergence of advanced technologies such as the Internet of Things (IoT), artificial intelligence (AI), and edge computing offers agility to optimize investments for innovation, make critical decisions, and deliver excellent customer experiences, representing another major growth-inducing factor.

Besides this, the extensive application of enterprise applications in the banking, financial services, and insurance (BFSI) sector for recruiting talented employees and creating a balanced financial structure is propelling the market growth. Furthermore, the recent onset of the coronavirus (COVID-19) led to the adoption of work-from-home (WFH) models resulting in the increasing use of connected devices across corporations which is creating a positive market outlook.

What is included in market segmentation?

The report has segmented the market into the following categories:

Breakup by Solution:

• Customer Relationship Management
• Enterprise Resource Planning
• Supply Chain Management
• Analytics and Business Intelligence
• Human Capital Management
• Productivity Tools
• Others

Breakup by Organization Size:

• Small and Medium Enterprises
• Large Enterprises

Breakup by Deployment Mode:

• On-premises
• Cloud-based

Breakup by End User:

• BFSI
• Manufacturing and Retail
• Healthcare and Pharmaceuticals
• IT and Telecommunication
• Government
• Others

Breakup by Geography:

• North America (United States, Canada)
• Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa

Who are the key players operating in the industry?

The report covers the major market players including:

• Accenture plc
• Fujitsu Limited
• Infosys Limited
• International Business Machines Corporation
• iTransition Group
• Microsoft Corporation
• Oracle Corporation
• Pegasystems Inc.
• Salesforce.com Inc.
• SAP SE
• Software AG
• Tata Consultancy Services Limited

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