Global Enterprise Software Market Report 2023: Enhancements In Software And Business Processes Fuel Sector Growth
DUBLIN, Jan. 6, 2023 /PRNewswire/ -- The "Global Enterprise Software Market Size, Share & Industry Trends Analysis Report By Deployment (On-premise and Cloud), By Type, By Enterprise Size (Large Enterprises and Small & Medium Enterprises), By End-use, By Regional Outlook and Forecast, 2022 - 2028" report has been added to ResearchAndMarkets.com's offering.
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.
Based 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.
By 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 Outlook
Based 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).
On 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.
Region-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.
Key Market Players
Key Topics Covered:
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Research and Markets
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SOURCE Research and Markets