Global Enterprise Application Industry to creoss $287.7bn by 2024

Enterprise Application Market to grow at 7.6% CAGR from 2016 to 2024; driven by Cloud computing adoption. The excessive deployment of enterprise application solutions across the corporate scenario will lead enterprise application market to witness a remarkable growth curve in the years ahead. These scalable, component-based business applications can be efficiently used to achieve inventory management, improved supply chain management, and high customer satisfaction.

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The myriad products of enterprise application industry such as web conferencing, BPM, CRM, business intelligence, ERP, EAM, CMS, and SCM can be deployed via cloud and on-premise modes. Having held over 30% of the overall market in 2015, cloud-based enterprise application market is forecast to grow significantly over the next few years. This is primarily due to the incredible benefits offered by this deployment mode, such as excellent monitoring, reduced investment and operational cost, and high potential for disaster recovery. On-premise-based enterprise application, in contrast, will witness a growth of 4.5% over 2016-2014.

The solutions offered by enterprise application market are extremely diverse and are applied across numerous professional sectors. In a bid to ensure 100% customer satisfaction, corporations are increasingly adopting the CRM-based model. It is anticipated that CRM enterprise application market will contribute to more than 25% of the overall revenue by 2024.

Automation has now become a thing of the present, instead of a fictional fragment of science. The rising need to obtain real-time information and to automate back office operations will propel ERP enterprise application industry, which is foreseen to grow at a CAGR of 7.7% over 2016-2024. Another prominent enterprise application product, the content management system (CMS), is also expected to witness a tremendous growth of 13.5% over 2016-2024. The rising demand for highly advanced website content management will lead this segment to earn a revenue of USD 8.5 billion by 2024.

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The IT sector in particular, has been adopting enterprise application solutions on a substantially large scale. For most part, the decision to choose among the many products of enterprise application market depends on the customer requirements. These solutions are also used in the medical sector, in response to which enterprise application industry from the healthcare domain is expected to grow at a CAGR of 8.9% over 2016-2024.

North America enterprise application market is anticipated to hold more than 30% of the overall revenue by 2014, driven by the dynamic customer-centric approach adopted by major companies in the region and the escalating adoption of these solutions across various sectors.

Companies operating in enterprise application market include Hewlett-Packard, SAP, Epicor Software, IBM, Oracle, and Microsoft.

Browse key industry insights spread across 95 pages with 67 market data tables & 47 figures & charts from the report Enterprise Application Market Size By Product (CRM, ERP, SCM, Web Conferencing, Business Intelligence [BI], BPM, CMS, EAM), By End-Use (Manufacturing, BFSI, Healthcare, Retail, Government, Aerospace & Defense, Telecom & IT), By Deployment (On-Premise, Cloud), Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, Japan, China, India, Mexico, Brazil), Application Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2024” in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/enterprise-application-market

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