Enterprise Application Market Revenue To Exceed $350 Billion By 2028: Global Market Insights Inc.
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The SCM segment of the enterprise application market is expected to witness significant growth over the forecast period as supply chain analytics solutions and services have gained significant demand from industries amid the pandemic of COVID-19 in progress. An increase in the demand for supply chain efficiency and the need to improve operational processes is poised to fuel the growth of the industry. The growing volume and inclination towards data-driven decision making is supporting the acceptance of supply chain management solutions across industries.
The cloud enterprise application market is expected to generate substantial revenue, which is driven by its growing use in SMBs. The growing demand for customer relationship management (CRM) software is driving the adoption of SaaS-based business applications. Low subscription costs and hardware-independent operations have made cloud software a viable option for small and medium-sized businesses with limited financial resources. All software updates, security enhancements, and user additions are handled by SaaS providers, helping businesses reduce IT expenses.
The enterprise application market for the retail segment is expected to register exponential growth owing to the increasing competition among e-commerce businesses and the growing need to provide personalized shopping experience to customers. E-commerce companies use the capabilities of enterprise solutions to personalize the user’s shopping experience by analyzing the browsing pattern and on-site content.
Asia Pacific The enterprise application market is expected to witness a growth rate of 10% through 2028 owing to the widespread acceptance of digital technologies by regional business corporations. The region has a mature IT industry with several countries, including China, India, Japanand South Korea being regional leaders in the implementation of enterprise applications.
Some of the major players operating in the enterprise application market are Epicor Software Corporation, Fiserv, Inc., Genesys Telecommunications Laboratories, Inc., Hewlett Packard Enterprise Co., IBM Corporation, IFS AB, Infor, Inc., JDA Software ( Blue Yonder), Microsoft Corporation, MicroStrategy Incorporated, NetSuite, Inc., Oracle Corporation, Qlik Technologies, Inc., SAGE Group Plc, Salesforce.com, Inc., QAD Inc., SAP SE, Tableau Software, LLC, Total Soft SA , TIBCO Software, Inc., Adobe, Inc. and Zoho Corporation.
These companies are focused on various business growth strategies, including investments in new business solutions, strengthening the partner network and geographic expansion. Through these strategic moves, companies attempt to gain a larger market share and maintain market leadership.
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Some major findings of the Enterprise Application Market report include:
- The growth of the retail sector and the widespread penetration of customer relationship management solutions are contributing to the demand for enterprise applications.
- The IT and telecommunications sector is expected to witness significant growth during the forecast period. The need to ensure accessibility and remote management of network infrastructure as well as workforce productivity is accelerating the expansion of the industry.
- The APAC market is expected to grow at a rapid rate from 2022 to 2028 owing to improvements in the ICT landscape, abundance of skilled software developers, and rising awareness of enterprise applications among SMEs.
- In the middle of the chase Russia–Ukraine crisis, there was a halt in software-related developments and exports of Ukrainewhich should slightly slow down market growth.
- Industry players are focusing on product innovation and customization to provide unique solutions to existing and potential customers.
Table of Contents (ToC) of the report
Chapter 3 Enterprise Application Market Overview
3.2 Impact of the COVID-19 outbreak
3.2.1 Key Players’ Strategies to Reach Pre-COVID Growth Level
3.2.2 Impact on industry value chain
3.2.3 Impact on the competitive landscape
3.3 Impact of Russia–Ukraine crisis
3.3.1 Impact on the technology supply chain
3.3.2 Global Business Response
3.3.3 Regional impact of Russia–Ukraine crisis
3.4 Evolution of the enterprise application
3.5 Business Application Industry Ecosystem Analysis
3.5.1 Enterprise Application Providers
3.5.2 Cloud Service Providers
3.5.3 System integrators
3.5.4 Third Party Service Providers
3.5.5 Distributors and resellers
3.5.6 End users
3.5.7 Shareholder Profit Margin Analysis
3.5.8 Supplier Matrix
3.6 Investment Portfolio
3.7 Patent analysis
3.8 Technology and innovation landscape
3.8.1 AI-based customer support
3.8.3 Data integration
3.8.4 IoT-enabled enterprise assets
3.8.5 Automatic learning
3.8.6 Predictive analysis
3.8.7 Process Automation
3.8.8 Two-tier ERP
3.9 Regulatory landscape
3.10 Industry impact forces
3.10.1 Drivers of growth
3.10.2 Industry Pitfalls and Challenges
3.11 Analysis of growth potential
3.12 Porter’s analysis
3.13 PILON analysis
Browse the complete Table of Contents (ToC) on https://www.gminsights.com/toc/detail/enterprise-application-market
About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, US, is a global provider of market research and advisory services, offering syndicated and custom research reports as well as growth advisory services. Our business intelligence and industry research reports provide clients with in-depth insights and actionable market data specially designed and presented to aid in strategic decision-making. These comprehensive reports are designed using proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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