Global Enterprise Software Market – Industry Trends and Forecast to 2030

Enterprise Software Market Analysis and Size

The enterprise software market is projected to have significant growth during the forecast period due to the increasing usage of cloud-based services in both small and medium sized businesses. Small organizations are adding cloud-based technology into their enterprises to reduce the upfront costs and access business-critical applications at the suitable place and time. The IT expenditure on enterprise software was augmented at a rate of 9 percent during 2017-18. Companies are widely adopting cloud-based enterprise software to accelerate the overall productivity of an organization.

Data Bridge Market Research analyses that the enterprise software market is expected to reach USD 450.68 billion by 2030, which is USD 232.93 billion in 2022, at a CAGR of 8.60% during the forecast period. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.

Enterprise Software Market Scope and Segmentation

Market Definition

Enterprise software is a computer software designed to do specific creative, financial, productive and daily business works. It is generally used to automate the business. It helps small business and companies owners to create, manage, promote, sell, market and scale their businesses. The usage of enterprise software is important became it helps in faster decision making, planning and design, implementation of the latest technologies, data analysis, customer support, and techniques in supply chain management.

Global Enterprise Software Market

Drivers

• Rising product launches by major market to support company for data-driven decision-making

Increasing product launch by major market to support company for data-driven decision-making is expected to drive the market growth during the forecast period. For instance, IBM revealed Business Analytics Enterprise suite in 2022. It is mainly designed to help enterprises break down analytics silos and data to make data-driven decisions rapidly and navigate the unpredictable disruptions. This launch further builds on IBM's strategy to offer companies with solutions to support data-driven decision-making.

• Growing demand for customer relationship management software among enterprises

The growing demand for customer relationship management software among enterprises is anticipated to propel the market growth in the forecast period. Customer relationship management software (CRM software) helps to analyzes and manages customer interactions and data across the customer lifecycle. It helps to analyze and collect data and customer interactions throughout the customer lifecycle.

Opportunities

• Surging mergers and collaboration between major market players

The surging mergers and collaboration between major market players is expected to create ample opportunities for the market. For instance, IBM Corporation partnered with Salesforce in 2018 to integrate their artificial intelligence platform and provide an improved customer service experience. IBM's cognitive computing technology platform called Watson and Salesforce's in-house AI platform called Einstein collaborated to provide AI-driven recommendations for future actions.

• Increasing emergence of e-commerce in multiple sectors

Increasing emergence of e-commerce in multiple sectors will generate lucrative opportunities for the market growth. E-commerce websites establish direct business relationships with end customers and minimalize the lead time across various sectors. According to a report by Walmart, Flipkart group is showing major growth, with its growth merchandise value growing by 12 times and reaching $7.5 Billion from 2014 to 2018. Organizations require customized enterprise software to analyze and manage customer data, further broadening the scope for market growth opportunities.

Restraints

• High cost associated with the deployment of enterprise software

Deployment of enterprise software needs  high cost and time. Enterprise software adds high-price because of its long implementation processes such as project planning, organization, system configuration, installation and training. As a result of all these factors hamper the market growth during the forecast period.

• Increasing concerns regarding cyber attacks

Increasing cyber-attacks such as ransomware, viruses, Distributed Denial-of-Service (DDoS) and Corporate Account Takeover (CATO) are also a major factor affecting the sales of enterprise software and hamper the market growth.

This enterprise software market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the enterprise software market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Recent Development

• In 2022, SurePoint Technologies, a practice and financial management solutions provider for law firms, announced their acquisition with Cole Valley Software, a customer relationship management solution for legal professionals. With this acquisition, they will provide a legal technology platform that incorporates real-time CRM into financial data and practice management, enabling law firms to grow and manage client relationships.
• In 2022, CRMNEXT, a global CRM solution provider for financial services, announced a partnership with Wescom Resources Group, a technology solutions provider, to streamline their IT operations. With this acquisition, they will provide credit unions with a customer relationship management solution for financial institutions.
• In 2022, Oracle announced its partnership with Informatica to bring governance products and Informatica's data integration to Oracle Cloud Infrastructure. This partnership would bring effective value to bring better data science and analytics to their organizations.
• In 2022, SAP SE collaborated with Accenture, an information technology (IT) services and consulting company. With this collaboration, the company aimed to support large enterprises and provide continuous innovation by integrating RISE with SOAR and SAP with Accenture to support our customers in becoming intelligent.

Global Enterprise Software Market Scope

The enterprise software market is segmented on the basis of type, organization size, solution, application and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

• Enterprise Resource Planning (ERP)
• Business Intelligence (BI)
• Supply Chain Management (SCM)
• Customer Relationship Management (CRM)
• Web Conferencing Collaboration
• Marketing
• Human Resource Management
• Payment Processing
• Others

Organization Size

• SMEs
• Large Enterprises

Solution

• Software-Defined Networking (SDN) Switching
• Cloud Virtualization
• Software-Defined Networking (SDN) Controllers

Application

• Order Processing
• Procurement
• Scheduling
• Supply Chain
• Customer Information Management
• Sales Accounting
• Web Services
• Energy Management
• Government

End User

• Cloud Service Providers
• Retail
• Banking
• Financial Services and Insurance (BFSI)
• Enterprises
• Academia and Government
• Healthcare and Life Sciences
• Telecommunication Service Providers

Enterprise Software Market Regional Analysis/Insights

The enterprise software market is analyzed and market size insights and trends are provided by country, type, organization size, solution, application and end user as referenced above.

The countries covered in the enterprise software market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the enterprise software market owing to the prevalence of improved and well-established infrastructure in this region. Furthermore, growing cloud computing applications and increasing adoption of advanced technology will further boost the market growth in this region.

Asia-Pacific will continue to project the highest compound annual growth rate during the forecast period of 2023-2030 because of the increasing adoption of advanced systems and technology in this region. Furthermore, increasing preferences toward business intelligence and analytics will further boost the market growth in this region.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Enterprise Software Market Share Analysis

The enterprise software market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to enterprise software market.

Some of the major players operating in the enterprise software market are:

• IBM (U.S.)
• Microsoft (U.S.)
• Orcale (U.S.)
• SAP (Germany)
• Salesforce, Inc. (U.S,)
• Hewlett Packard Enterprise Development LP (U.S.)
• Broadcom (U.S.)
• VMware, Inc. (U.S.)
• TIBCO Software Inc. (U.S.)
• Zoho Corporation Pvt. Ltd. (India)
• SYSPRO (South Africa)
• Epicor Software Corporation (U.S.)
• Infor (U.S.)
• Accenture (Ireland)
• Cisco Systems Inc. (U.S.)
• Deltek, Inc. (U.S.)
• TABLEAU SOFTWARE, LLC, (U.S.)
• QlikTech International AB (Sweden),
• DataRobot Inc., (U.S.)
• MICROSTRATEGY INCORPORATED (U.S.)

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