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Enterprise Application Market Size

Report ID: GMI701
Published Date: Apr 2022
Report Format: PDF

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Enterprise Application Market size

Enterprise Application Market size exceeded USD 200 billion in 2021 and is set to grow at a CAGR of over 5% from 2022 to 2028.

The enterprise application market growth is attributed to the growing importance of business-oriented enterprise applications, which can be customized for critical business requirements and deployed on various platforms across corporate networks. Enterprise application solutions coupled with machine learning models enable enterprises to decrease uncertainty and make data-driven business decisions. Enterprise application is highly suited for promoting easier communication, improving business efficiency, and creating new opportunities for market expansion.

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Enterprise application is software deployed to integrate all the aspects of a firm's operations and processes such as accounting, finance, human resources, inventory control, manufacturing, marketing, sales, distribution & resource planning. Advanced enterprise applications provide linkages with customers, business partners, and suppliers to optimize revenue while ensuring high customer satisfaction

Enterprise Application Market Report Attributes
Report Attribute	Details
Base Year:	2021
Enterprise Application Market Size in 2021:	200 Billion (USD)
Forecast Period:	2022 to 2028
Forecast Period 2022 to 2028 CAGR:	5%
2028 Value Projection:	350 Billion (USD)
Historical Data for:	2018 to 2020
No. of Pages:	1,420
Tables, Charts & Figures:	3,509
Segments covered:	Product, Deployment Model, Industry Vertical and Region
Growth Drivers:	Surging adoption of cloud native enterprise applications Increasing investments in AI-infused enterprise software for competitive edge Growing adoption of mobile devices and rising workforce mobility Surging uptake of data analytics for critical business decision-making Shift of enterprises towards customer-centric approaches
Pitfalls & Challenges:	Substantial maintenance and implementation cost Open-source enterprise application availability

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The enterprise application market has witnessed rapid amplification during the ongoing COVID-19 pandemic. As enterprises realize the importance of the latest & updated business software, which depict the most recent impact of COVID-19 on supply chains and demand, the demand for enterprise application has risen sharply across the globe. The importance of enterprise application in the healthcare industry has become even more paramount, considering that multiple strains of COVID-19 have evolved.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of enterprise application was over USD 200 billion during 2021 and will witness around 5% CAGR over 2022-2028 with increased need for business-oriented applications that can be customized as per key requirements.

Cloud segment accounted for over 55% share of Japan industry in 2021 as companies look to lower the cost of ownership by using cloud services.

CRM segment held nearly 30% share of UK market in 2021 and will expand as businesses aim to boost productivity, improve customer engagement, and implement technologies like IoT and AI.

U.S. industry revenue from manufacturing segment will record over 5% CAGR through 2028 with automakers in the region adopting industry 4.0 practices to streamline production.

Global enterprise application landscape consists of key players such as Hewlett Packard Enterprise Co., Salesforce.com, Inc., Oracle Corporation, Adobe, Inc., Tableau Software, LLC, MicroStrategy Incorporated, Microsoft Corporation, Fiserv, Inc., and IBM Corporation, among some others.