Technavio estimates the enterprise application software market to grow by USD 104.68 billion between 2021 and 2026, progressing at a CAGR of 7.23% during the forecast period.
The introduction of cloud-based deployment solutions, the growing need to enhance business efficiency, and the increasing demand for ERP software from SMEs are the major factors propelling the market growth. However, factors such as threats from open-source enterprise application software providers, data privacy and security concerns, and the integration challenges related to unscalable applications will hamper the market growth.
Enterprise Application Software Market: Deployment Landscape
By deployment, the on-premise segment generated maximum revenue in the market in 2021. The increasing reliance on the on-premise model by organizations that focus on functionality over cost-effectiveness is driving the growth of the segment. In addition, the proliferation of SMEs and innovations in data security are expected to contribute to the growth of the segment.
Enterprise Application Software Market: Geographic Landscape
By geography, North America is going to have lucrative growth during the forecast period. About 39% of the market’s overall growth is expected to originate from North America. The enterprise application software market in North America is driven by the increase in the need for business process efficiency and transparency through digital transformation. The US is the key market for enterprise application software in North America.
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Companies Covered:
- Accenture Plc
- Broadcom Inc.
- Cisco Systems Inc.
- Epicor Software Corp.
- International Business Machines Corp.
- Intuit Inc.
- Microsoft Corp.
- Oracle Corp.
- Salesforce.com Inc.
- SAP SE
What our reports offer:
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- Covers market data for 2021, 2022, until 2026
- Market trends (drivers, opportunities, threats, challenges, investment opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
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Enterprise Application Software Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 7.23% |
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Market growth 2022-2026 |
USD 104.68 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
4.89 |
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Regional analysis |
North America, Europe, APAC, South America, and MEA |
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Performing market contribution |
North America at 39% |
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Key consumer countries |
US, China, UK, Japan, and Germany |
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Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
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Companies profiled |
Accenture Plc, Broadcom Inc., Cisco Systems Inc., Epicor Software Corp., International Business Machines Corp., Intuit Inc., Microsoft Corp., Oracle Corp., Salesforce.com Inc., and SAP SE |
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Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio
