Published on : Nov 16, 2016
ALBANY, NY, Nov 16, 2016: The 40-page report provides a comprehensive outlook on the global market for enterprise applications. It breaks down the market based on various parameters such as geography, opportunity, vertical market, and sizeband.
An enterprise application (EA) is a large software platform operating in a corporate environment. It is a collective program with shared business applications and organizational modeling utilities designed for seamless functionalities such as unhindered flow of real-time information along with smooth business operations. Enterprise applications are designed such that they can interface or integrate with other applications operating within the organization and be deployed across a variety of networks – internet, intranet and corporate networks. This is done while adhering to requirements pertaining to security and administration management. Enterprise applications are either designed and deployed in-house or outsourced to a third party who leases it to the enterprise as an on-premise or hosted service. This is popularly known as software-as-a-service (SaaS) or web-based applications.
The report describes the evolution of enterprise applications and throws light on the latest technological innovations impacting its market. It analyzes the current market size based on revenue and sales and predicts the revenue growth figures till 2020. The report lists a number of factors that are currently fuelling market growth.
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Higher spend on efficient IT infrastructure by companies to stay competitive is slated to be one of the primary reason for growth in the next few years, finds the report. Besides that, rising internet connectivity, the rapid adoption of cloud computing technologies, and the penetration of smartphones and mobile devices will also positively impact the market for EA globally.
Having discussed the growth drivers, the report also delves into possible hindrances to the market. The availability of open source solutions, for example, may pose a threat to the market with companies choosing those over tailored enterprise applications, which cost more. The high cost of maintenance is also likely to thwart the market. Notwithstanding such drawbacks, the adoption of EA has been high so far. Some of the end-use industries at the forefront of adoption of enterprise applications are manufacturing, healthcare, business and financial services, aerospace and defense, and retail. Enterprise applications provide these industries with a wide array of solutions, namely ERP, CRM, business intelligence (BI), SCM, web conferencing, CMS, etc. The solutions aid in inventory management, customer engagement, quality management, and supply chain management.
Geography-wise, the market in North America has outpaced those in other regions in terms of growth. The report provides a detailed geography-wise outlook of the market for EA and lists five top-notch vendors operating in the domain. It gauges the competitive landscape using various analytical tools and various parameters.
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