Global Enterprise Software Market was valued at USD 478.21 Bn in 2019 and is expected to reach at USD 848.44 Bn by 2027 at a CAGR of 7.43% over forecast period 2020-2027.
Global Enterprise Software Market
The report covers an in depth analysis of COVID 19 pandemic impact on Global Enterprise Software Market by region and on the key players revenue affected till April 2020 and expected short term and long term impact on the market.
Global Enterprise Software Market Dynamics:
Enterprise Software (EAS) is developed for the purpose of businesses. Different business functions require different software with unique capabilities. ES are utilized by companies and organizations all around the world to support their processes, departments and business functions and enable them to work properly. Major factors such as the growing trend of big data analytics & cloud computing, an increasing demand for business intelligence and predictive analytics are driving the market growth over forecast period. An increasing adoption of database management systems, proliferation of cloud services, and an increasing network complexity are expected to create lucrative opportunities for market over forecast period.
However, factors such as customization& flexibility issues, the high cost of support and licensing, and complexities related to the migration of existing data are restraining the market growth over forecast period.
Global Enterprise Software Market is segmented by end user, by solution and by Region. By end users, cloud service providers segment held 28.76% of market share in 2019 and is expected to keep its dominance over forecast period owing to proliferation of cloud services. An increasing network complexity is also driving the growth of this segment over forecast period. Cloud service providers is followed by enterprises and BFSI segments. Enterprises segment is expected to hold 21.34% of market share over forecast period. SMEs and Large Enterprises are adopting enterprise software at high rates. Growing investments by large-scale IT industries pertaining to modernization and consolidation of IT infrastructure are driving the growth of this segment over forecast period.
By geography, North America held 35.76% of market share in 2019 and is expected to keep its dominance over forecast period. United State is early adopter of enterprise software such as software as a service (SaaS) and customer relationship management (CRM). Enterprise software penetration rates in the United States and Canada are high and the adoption of these solutions has become commonplace with companies rapidly utilizing hybrid models of cloud as well as on-premise products. North America is followed by APAC and Europe.
APAC is expected to hold 30.87% of market share over forecast period. Growing investment in local-language offerings and build-out of data centres by vendors in emerging countries of Asia Pacific such as China, India, Japan and South Korea is mainly driving the market in APAC.
Europe is expected to hold 23.32% of market share over forecast period owing to wide large enterprises which are turning toward the hosted ERP solutions to efficiently manage their business processes, particularly in countries such as France, Germany and U.K.
The Global Enterprise Software Market has the presence of a large number of players. Major players in the market are concentrating on developing new technologies to facilitate the industry with lowest time and low expenditure consuming technologies. The report covers in depth analysis of key development, marketing strategies, benchmarking of various parameters and company profiles of market leaders, potential players and new entrants. Some of the key players covered in this report are Salesforce, SAP, EMC Corporation, Symantec, Oracle Corporation, HP, Microsoft Corporation, IBM Corporation, CA Technologies, and VMware among others. These key players are adopting various organic and inorganic growth strategies such as merger& acquisition, joint ventures, expansion, strategic alliances, new product launches, diversification and patent to increase their regional presence and business opeartions.
SAP is major market players in this market. SAP offers its solutions such as SDN switching and Cloud virtualization to various end users. In January 23, 2019 SAP acquired Qualtrics. SAP and Qualtrics will be creating enterprise software for the organization to help them in delivering exceptional customer, employee, product, and brand experiences.
The objective of the report is to present a comprehensive analysis of the Global Enterprise Software Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Enterprise Software Market dynamics, structure by analyzing the market segments and project Global Enterprise Software Market. Clear representation of competitive analysis of key players by price, financial position, Product portfolio, growth strategies, and regional presence in the Global Enterprise Software Market make the report investor’s guide.
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Scope of Global Enterprise Software Market
Global Enterprise Software Market by End User
• Cloud Service Providers
Global Enterprise Software Market by Solutions
• SDN Switching
• Cloud Virtualization
Global Enterprise Software Market by Region
• North America
• MEA& Africa
• Latin America
Global Enterprise Software Market Major Players
• EMC Corporation
• Oracle Corporation
• Microsoft Corporation
• IBM Corporation
• CA Technologies
• Red Hat
• Mentor Graphics
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