The Global Enterprise Software Market size is expected to reach $404 billion by 2028, rising at a market growth of 11.1% CAGR during the forecast period

December 20, 2022

New York, Dec. 20, 2022 (GLOBE NEWSWIRE) -- announces the release of the report "Global Enterprise Software Market Size, Share & Industry Trends Analysis Report By Deployment, By Type, By Enterprise Size, By End-use, By Regional Outlook and Forecast, 2022 - 2028" - Enterprise software or enterprise application software (EAS) are used to fulfill the requirement of an organization rather than personal usage. These organizations include businesses, schools, clubs, governments, interest-based user groups, and charities.As high efficiency and flexibility are becoming a basic necessity the usage of enterprise software is increasing. To ensure smooth operations, businesses of every size are turning to enterprise software. The major reason organization of every sector is putting their trust in enterprise software is because of its adaptive nature and the ability to propel maximum productivity.Enterprise Application Software (EAS) helps businesses to automate, consolidate data, process and combine multiple systems into one joint platform. It also gives user compliance features and upgraded security, which helps an organization raise its overall performance. Now not only large but small businesses also require enterprise software to boost their effectiveness and manage their data.Moreover, the rising price of necessary IT services has also convinced small businesses in the enterprise software market to adopt enterprise software. Companies use business software and services to ease up their corporate operations. Businesses pick software and solutions as per their usage and requirement.To establish data security and safety goals, these software plus services give smooth and fast access to unstructured data which was obtained by data analytics. In addition to that, enterprise solutions generate a remarkable cut in the use of raw materials and inventory costs, which allows businesses to raise their profits. Departmental Data is connected with live updates in business solution modules, which eventually gives better data transparency.COVID-19 Impact AnalysisThe Covid-19 pandemic has been a major setback for society and the economy. As every organization faced impacts on their supply and production. To control the spread of Covid-19 many steps like physical and social distancing, complete lockdowns, and the setup of quarantine zones, were taken. But due to these steps, various businesses and enterprises faced partial shutdowns and losses. Moreover, organizations that were able to set up their presence online, recovered to some extent and also continued to provide their services. The work-from-home model which was adopted due to the quarantine gave a significant push to the software market as the demand for value-added services to reduce the concerns regarding security increased.Market Growth FactorsEnhancement In Software And Business ProcessesWith the rising use of automation and techniques like lean manufacturing, industries have seen an increase in their efficiency, which can also be seen with business software. Routine tasks are being automized so that employees can concentrate more on other important tasks. Organizations may also eliminate slow or inaccurate tasks from the workflow. Enterprises can now point out problems and their solutions at early stages with the use of process mapping tools to trace assets and workflows throughout the organization.Increasing Use Of Customer Relationship Management Software And Big Data AnalyticsCRM oversees the management of a company’s relationship with its customers more precisely. CRM has features like sales force automation, contact management, and marketing automation which assist businesses in customer satisfaction and sales. More businesses are moving towards big data analytics tools to provide them with solutions as these organizations are starting to deal with huge volumes of data. These solutions help to make better business decisions as they provide market trends and valuable insights into customer behavior.Market Restraining FactorsHigh Implementation And Adoption Cost Of The SoftwareUsing enterprise software drains a huge amount of capital, and time and takes skills. Due to the project planning, installation, system configuration, and training the implementation process is usually long which adds up to the high cost of the enterprise software. In addition to that, an organization may also need updated network equipment, new hardware, and security software installations, which also add up the costs. Requirement of employees and maintenance of the system will also increase the expenditure.Type OutlookBased on the Type, the Enterprise Software Market is segmented into Customer relationship management, Business intelligence, Content management, Enterprise resource planning, Human Resource Management, Supply Chain Management, and Others. The supply chain management segment witnessed a significant revenue share in the enterprise software market in 2021. A supply chain creates finished products out of raw materials that are to be delivered to the customers. It consists of a complex system of activities and organizations like manufacturers, raw material suppliers, distributors, customers, and retailers.Deployment OutlookBy Deployment, the Enterprise Software Market is classified into Cloud and On-premise. The on-premise segment procured the largest revenue share in the enterprise software market in 2021. It is due to the ability to provide consistent services and enhanced data security without an internet connection. Moreover, on-premise software provides flexible system access to multiple users without affecting the speed of data transmission. Organization gets more control in their hands while using on-premise software while also including data security.Enterprise Size OutlookBased on the Enterprise Size, the Enterprise Software Market is bifurcated into Large Enterprises and Small & Medium Enterprises. The large-enterprise segment garnered the highest revenue share in the enterprise software market in 2021. A business operation like marketing, talent management, sales, inventory management, and production of large enterprises is overseen by enterprise software. To reduce workforce costs and human intervention these enterprises are automizing their various business processes, which boosts the demand for enterprise software with Machine learning (ML) and Artificial intelligence (AI).End-use OutlookOn the basis of End-use, the Enterprise Software Market is categorized into BFSI, Government & Education, Healthcare, IT & Telecom, Manufacturing, Retail, Transportation, and Others. The government & education segment recorded a remarkable revenue share in the enterprise software market in 2021. There is growth in the government & education sector due to the need for automizing management to carry out business processes. The demand for these solutions is also increased by the advancement of administrative modules.Regional OutlookRegion-wise, the Enterprise Software Market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The North American region procured the highest revenue share in the enterprise software market in 2021. It is due to the rising usage of cloud-based enterprise software solutions due to the low maintenance and high efficiency. End-use companies raised their investments as they opt for digitalizing their businesses. Strategic partnerships between industry players and technology providers increase to raise their revenues from the market.The major strategies followed by the market participants are Acquisitions. Based on the Analysis presented in the Cardinal matrix; Microsoft Corporation is the forerunner in the Enterprise Software Market. Companies such as IBM Corporation, SAP SE, Oracle Corporation are some of the key innovators in Enterprise Software Market.The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include IBM Corporation, Microsoft Corporation, Oracle Corporation,, Inc., SAP SE, Broadcom Inc. (CA Technologies, Inc.), Hewlett Packard Enterprise Company, Zoho Corporation Pvt. Ltd., Epicor Software Corporation, and SYSPRO.Recent Strategies Deployed in Enterprise Software MarketPartnership, Collaboration and Agreement:Jul-2022: Microsoft extended its partnership with Sage, the leader in accounting, financial, HR and payroll technology. With this Partnership, the company aims to bring together Sage’s financial expertise with the Microsoft Cloud to deliver reliable, secure, and scalable solutions that would empower SMBs around the world to be more effective, lower costs, and expand their businesses.May-2022: IBM Joined hands with Amazon Web Services, Inc., an Amazon subsidiary that provides on-demand cloud computing platforms, to provide a wide range of its software catalog as Software-as-a-Service (SaaS) on AWS. With this collaboration, the company is providing organizations the ability to choose the hybrid cloud model that fits best for their own needs and workloads, freeing them up to focus on solving their business challenges.May-2022: Oracle formed a partnership with Informatica, an enterprise cloud data management leader, to bring Informatica’s data integration and governance products to Oracle Cloud Infrastructure. This partnership would bring effective value for the customers to bring better analytics and data science to their organizations.May-2022: SAP SE teamed up with Accenture, an information technology (IT) services and consulting company. The collaboration aimed to help large enterprises move to the cloud and deliver continuous innovation by integrating RISE with SAP and SOAR with Accenture, a cloud-based solution, to support our customers in becoming intelligent and sustainable firms.Mar-2022: SYSPRO formed a partnership with ZAP, a leader in SaaS for data management and analytics. Through this partnership, the companies aimed to deliver consumers an improved Business Intelligence solution, promoting SYSPRO ERP’s robust data and analytics reporting abilities. Moreover, the partnership would deliver manufacturing and distribution companies with an innovative platform that delivers new methods to strategically action preferences based on improved data.Mar-2022: IBM teamed up with Flexera, an IT management software company, to help businesses use automation to streamline IT asset management. Through this collaboration, IBM expanded its automation portfolio to give organizations business automation capabilities designed to handle complex challenges.Feb-2022: IBM joined hands with SAP, a software company that develops enterprise software, for providing technology and consulting expertise to clients and making their hybrid cloud process easier. Additionally, the company aimed at moving mission-critical workloads from SAP solutions to the cloud.Jan-2022: Oracle extended its partnership with Syntax, a provider of enterprise cloud solutions for ERP applications, to help on-premise Oracle E-Business Suite customers move or extend their deployments to Oracle Cloud Infrastructure. Through this partnership, the company aimed to boost the business by attracting both new and existing customers.Jul-2021: Microsoft extended its collaboration with NEC Corporation, a leader in the integration of IT and network technologies. Through this collaboration, the company aims to support public and private sector customers for cloud adoption and digital transformation by integrating Azure and Microsoft 365 with NEC’s services.Apr-2021: Broadcom Inc. teamed up with Google Cloud, a platform for cloud computing services. Through this Collaboration, the company aimed at delivering secure access to cloud applications and delivering enterprises with continuous compliance increased performance and enhanced security by cloud services integration within the core software franchises of Broadcom.Feb-2021: IBM entered into a partnership with Palantir Technologies, a software company, that specializes in big data analytics. Through this partnership, the company aimed to help organizations put AI to work and become data-driven in every part of their operations.Feb-2021: IBM, Red Hat, a subsidiary of IBM joined hands with Siemens, a technology company, to provide an open, flexible and secure solution for plant operators and manufacturers to conduct real-time value from operational data. Through this collaboration, the company aims to deliver enterprises autonomy, speed, and control over shop floor data processed at the edge, as well as seamless connection.Jan-2021: Salesforce extended its partnership with Accenture, an information technology (IT) services and consulting company. This partnership enables the company to help customers more readily drive sustainability programs that benefit all stakeholders and create business value. Additionally, Accenture would help integrate Salesforce Sustainability Cloud into their business strategies, operating models, technologies, and core processes and systems with industry-specific requirements to develop sustainability insights that can scale across organizations and their ecosystems.Nov-2020: Zoho formed a partnership with Tata Consultancy Services, an information technology services and consulting company. Through this partnership, the company aimed to expand its reach to various countries to provide IT Service Management, Customer Relationship Management, and e-Commerce solutions to solve problems for large businesses.Product Launch and Product Expansion:Nov-2022: IBM unveiled Business Analytics Enterprise suite, designed to help enterprises break down data and analytics silos to make data-driven decisions quickly and navigate unpredictable disruptions. IBM Business Analytics Enterprise is a suite of business intelligence planning, reporting, budgeting, forecasting, and dashboard capabilities providing users with a robust view of data sources. The launch further builds on IBM’s strategy to provide companies with solutions to support data-driven decision-making.May-2022: SYSPRO unveiled a Cloud ERP, a deployment choice for Australian distributors and manufacturers. The Cloud ERP is developed to help major industries and supply businesses with the flexibility to fulfill developing market needs and encounter ongoing supply chain troubles. Moreover, with SYSPRO Cloud ERP, manufacturers and distributors gain the complete advantages of an ERP system deployed in the cloud and accessible via a proper user interface.Apr-2021: IBM extended its storage portfolio by adding updates to its Elastic Storage System. The ESS 5000 and ESS 3200 model are designed for easy deployment and are highly scalable. The ESS 5000 model delivers greater storage capacity and the new ESS 3200 offers double the read performance of its predecessor.Oct-2020: SAP SE unveiled SAP Customer Data Platform, a next-generation customer data platform (CDP). By this launch, the company aimed to allow organizations to redefine the customer experience across every engagement, from commerce and marketing to sales and service. Further, this will improve the effectiveness of SAP’s engagement through real-time data management, while ensuring that the company is handling the data in a compliant and respectful way.Acquisition and Mergers:Jul-2022: IBM took over, a leading provider of data observability software. With this acquisition, IBM bolsters its software portfolio across AI, data, and automation to manage the entire observability process.Jun-2022: Epicor took over Data Interchange, a UK-based provider of Electronic Data Interchange (EDI) cloud technologies. The acquisition would expand the reach of the company in European markets and add to the company’s portfolio of B2B integration technologies.May-2022: Broadcom Inc. entered into an agreement to acquire VMware, Inc., a leading innovator in enterprise software. Through this acquisition, the company aimed at providing an expanded platform of critical infrastructure solutions for enterprise customers to accelerate innovation and manage the most complex information technology infrastructure needs by integrating Broadcom Software portfolio with the leading VMware platform.Mar-2022: Microsoft took over Nuance Communications Inc., a leader in conversational AI and ambient intelligence. Through this acquisition, the company aimed to help providers deliver more affordable, effective, and accessible healthcare, and support organizations to enhance customer experiences.Mar-2022: SAP SE took over Taulia, a leading provider of working capital management solutions. Through this acquisition, the company integrates Taulia’s solutions into SAP software for strengthening its solutions for the CFO office.Dec-2021: Oracle Corporation signed an agreement to acquire Cerner Corporation, a supplier of health information technology services, devices, and hardware. The acquisition would grow the revenue of the company as it expands Cerner’s business into many countries.Oct-2021: Microsoft acquired Clear Software, a provider of iPaaS, and business process solutions. This acquisition would strengthen Microsoft Power Platform’s integration with the outside system and help customers leverage data and processes that reside beyond Microsoft’s first-party services.Sep-2021: Hewlett Packard Enterprise took over Zerto, an industry leader in cloud data management and protection. This acquisition extended HPE’s data management and disaster recovery abilities which help customers manage and protect their data from the edge to cloud.Jul-2021: IBM acquired Bluetab, a company that provides data and hybrid cloud consulting services. With this acquisition, the company aims to extend its data and hybrid cloud consulting portfolio across Latin America and Europe.Jul-2021: Salesforce took over Slack Technologies, Inc., a Canadian international software company. Through this acquisition, the company aimed to bring a single platform for other companies to connect their customers, employees, and partners.Jun-2021: Hewlett Packard Enterprise announced the acquisition of Determined AI, a San Francisco-based startup that delivers a powerful and robust software stack. Through this acquisition, the company aimed at providing faster and more accurate insights from its data by combining Determined AI’s software solution with its AI and high-performance computing (HPC).Jun-2021: IBM took over Turbonomic, a resource-simulation software company. The acquisition aimed at making IBM a one-stop shop of AI-powered automation capabilities by adding Turbonomic to its portfolio.Jan-2021: SAP SE announced an agreement to acquire Signavio, a leader in the enterprise business process intelligence and process management space. With this acquisition, the company integrated Signavio with the Business Process Intelligence unit of SAP to strengthen SAP’s capacity to assist companies in quickly understanding, transforming, enhancing, and managing their business processes at scale.Dec-2020: IBM completed the acquisition of Instana, a leading application performance monitoring and enterprise observability platform. With this acquisition, the company focuses on providing industry-leading, AI-powered automation capabilities to handle the complexity of modern applications that span hybrid cloud landscapes.Jun-2020: Microsoft Corporation took over DRM Software, a leading provider of large-scale industry data models, which are operated by large companies worldwide as information blueprints. With this acquisition, the company aims to help customers lower risk in a variety of major initiatives and accelerate digital progress by integrating industry models from ADRM with limitless storage and computing from Azure.Nov-2019: Broadcom Inc. acquired Symantec Corporation’s Enterprise Security business. With this acquisition, the company would expand its footprint of critical infrastructure software by making Symantec Enterprise a division of Broadcom.Geographical Expansions:Mar-2022: SAP SE expanded its geographical footprint in Singapore by launching SAP Labs. Through this expansion, the company aimed to strengthen the engineering core in Singapore while providing best-in-class solutions and sustainable products for organizations in the region.Scope of the StudyMarket Segments covered in the Report:By Deployment• On-premise• CloudBy Type• Customer Relationship Management• Business Intelligence• Content Management• Supply Chain Management• Enterprise Resource Planning (ERP)• Human Resource Management• OthersBy Enterprise Size• Large Enterprises• Small & Medium EnterprisesBy End-use• IT & Telecom• Manufacturing• Healthcare• Retail• Government & Education• BFSI• OthersBy Geography• North Americao USo Canadao Mexicoo Rest of North America• Europeo Germanyo UKo Franceo Russiao Spaino Italyo Rest of Europe• Asia Pacifico Chinao Japano Indiao South Koreao Singaporeo Malaysiao Rest of Asia Pacific• LAMEAo Brazilo Argentinao UAEo Saudi Arabiao South Africao Nigeriao Rest of LAMEACompanies Profiled• IBM Corporation• Microsoft Corporation• Oracle Corporation•, Inc.• SAP SE• Broadcom Inc. (CA Technologies, Inc.)• Hewlett Packard Enterprise Company• Zoho Corporation Pvt. Ltd.• Epicor Software Corporation• SYSPROUnique Offerings • Exhaustive coverage• Highest number of market tables and figures• Subscription based model available• Guaranteed best price• Assured post sales research support with 10% customization freeRead the full report: ReportlinkerReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.__________________________

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