Global Enterprise Application Market to 2027 – Industry Size, Share & Trends Analysis Report – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The Report “Global Enterprise Application Market Size, Share, and Industry Trend Analysis by Component, by Solution Type, by Deployment Type, by Organization Size, by Vertical, by Outlook and regional forecast, 2021-2027” has been added to the report from ResearchAndMarkets.com offer.

The global enterprise application market size is expected to reach $468.2 billion by 2027, with the market growing at 9.0% CAGR during the forecast period.

Business process management (BPM) and software configuration management (SCM) are examples of business application solutions that enable companies to track production from procurement to delivery to the end customer and manage stocks. The use of these technologies enables the flow of accurate, real-time business information between departments in any organization.

The implementation of enterprise applications enables a smooth flow of business data both inside and outside the enterprise. Using appropriate technologies, data can be collected and saved from a variety of sources, including social media. Business applications are becoming more and more popular among businesses as it helps them to reduce their expenses and increase their market share. They help to increase the overall efficiency and productivity of the business. A growing number of companies in various industries are striving to improve customer service.

Data breaches and leaks have become more regular and harmful as organizations and services have gone digital on an unprecedented scale. Malware, ransomware, DDoS attacks, and cybercrime like phishing and other scams pose a threat to businesses large and small. Hash protocols, particular machine learning algorithms, encryption, firewalls, access control and data loss prevention are some of the security solutions to be used in 2021.

Progressive Web Apps (PWAs) are mobile applications that are embedded into a webpage or installed on a user’s system, redefining the way people access content online. They are impressing a growing number of users with a wide range of benefits, including being intuitive, linked, lightweight and search engine trackable, as well as the ability to work across multiple platforms.

Market Growth Factors:

Growing demand for compliance with regulatory compliance standards and audit management

Audits are a terrible reality for any business. Companies are making significant changes to their IT systems and internal processes to comply with government regulations and mandates such as Sarbanes-Oxley, stringent security requirements from HIPPA, OSHA and the Securities and Exchange Commission . With built-in audit trails that provide access and transaction histories for every document, enterprise content management makes it easy. Government regulations require the preservation of various types of data and records, and the requirements are often complex.

Improved visibility and transparency of supply chain data and procedures

Previously, the biggest impediment to achieving supply chain goals was lack of visibility and transparency. Most companies lack the supply chain transparency and knowledge to better predict and prevent disruptions and inventory imbalances. This is partly due to an inability to manage a huge volume of data spread across various processes, sources and systems. Supply chain organizations struggle to keep up with both technological advancements and the changes the digital age is bringing to industries and markets.

Marketing Restriction Factor:

Data security and privacy issues

Organizations around the world are preoccupied with security and compliance, and they are hesitant to implement new solutions that include data processing or data migration from one platform to another. The collection and transmission of data from one channel to another is part of enterprise content management. Many companies believe that enterprise content management solutions should lead to data theft in their highly abstract data sets due to a lack of sufficient information about security standards and their implementation.

Market Segments Covered in the Report:

By component

By type of solution

  • Supply chain management

  • Integrated Management Software

  • Customer relationship management

  • Process management

  • Enterprise Asset Management

  • business intelligence

  • Content Management System, and

  • Others

By type of deployment

  • On the site

  • cloud and

  • Hybrid

By organization size

  • Large companies

  • Small and medium enterprises

By vertical

  • Telecom & IT

  • BFSI

  • Government

  • Retail

  • Manufacturing

  • Health care

  • Others

By geography

  • North America

  • Europe

  • Asia Pacific

  • LAMEA

Main market players

  • IBM Corporation

  • Oracle Corporation

  • Microsoft Corporation

  • SAP SE

  • Salesforce.com, Inc.

  • Hewlett-Packard Enterprise Company

  • IFS AB

  • QAD, Inc. (Thoma Bravo)

  • Epicor Software Corporation

  • Infor, Inc. (Koch Industries)

For more information about this report visit https://www.researchandmarkets.com/r/cp5xs4