The enterprise applications market size was valued at USD 305.2 billion in 2023 and is expected to reach USD 573.7 billion by 2032, at a CAGR of 7.3%.
FORT COLLINS, Colo., April 21, 2024 (Globe Newswire) —
The rise of business requires the growth of the enterprise application industry.
of enterprise application The Software Industry segment is dedicated to developing and delivering applications customized to meet the unique requirements of large organizations and enterprises. These applications are critical to streamlining operations, increasing productivity, and supporting critical business functions across various departments such as finance, human resources, sales, and customer relationship management. The global enterprise applications market is driven by the increasing adoption of digital technologies and the imperative for businesses to optimize their processes.
Many enterprise applications are specifically designed to meet the demands of a variety of industries, including healthcare, retail, manufacturing, and financial services. Enterprise applications are increasingly integrating mobile capabilities and artificial intelligence tools to enhance the user experience, facilitate decision-making, and drive automation. Additionally, the market is witnessing a shift from traditional licensing models to subscription-based services, providing businesses with greater flexibility and cost predictability, further driving market growth.
The emergence of industry and sector-specific solutions is expected to further increase market demand. Enterprise application service providers deliver applications tailored to the size and objectives of client organizations. This customization trend is fueling the demand for the enterprise applications market and is projected to continue driving growth during the forecast period.
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Segmentation overview:
The enterprise applications market is segmented into solution type, deployment mode, organization size, industry, and region.
CRM will occupy major market share in 2023
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Segmentation of the market based on solution type includes customer relationship management, enterprise resource planning, supply chain management, enterprise asset management, business process management, etc. Customer relationship management has a large share in this field, becoming essential for businesses to manage and analyze customer interactions and data throughout the customer lifecycle.
Manufacturing industry will hold a large share in 2023
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Based on industry, the market is segmented into BFSI, Manufacturing, Healthcare, Retail, and Government. Manufacturing accounts for a large share of this segment. The manufacturing industry has been at the forefront of adopting enterprise applications to streamline operations, improve efficiency, and reduce costs.
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Enterprise Applications Market Report Highlights:
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Prominent players in the Enterprise Applications market report include SAP, Oracle, Microsoft, IBM, Salesforce, Workday, Adobe, Infor, ServiceNow, Sage, IFS, etc.
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About DataHorizon Research:
DataHorizon is a market research and advisory firm that helps organizations around the world develop growth strategies that align with changing business dynamics. Its services include enterprise-wide consulting services and business insights to make actionable decisions. DHR's comprehensive research methodology for predicting long-term, sustainable trends in the market makes complex decision-making easier for organizations.
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