Enterprise Application Market Report, published by Allied Market Research, forecasts that the global market is expected to garner $ 213.43 billion by 2020, registering a CAGR of 7.4% during the period 2014-2020.
Enterprise application facilitates an easy flow of internal and external business information. Furthermore, the integration of business processes is effectively rendered through the implementation of an enterprise application. Thus, these benefits lead to large adoption of enterprise applications among customers. CRM and ERP application would drive the enterprise application market significantly by the year 2020, together contributing to around 2/5th of overall market revenue. The CMS application would grow rapidly in the future, as it finds increasing use in converting unstructured data into structured information and allows a non-technical user to manage content on a website easily.
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Retailers have adopted enterprise application to monitor and control their business processes. The healthcare industry would highly adopt enterprise applications to gain data transparency in real time. This allows the entire value chain involved in the healthcare industry to provide a patient-centric system. Realizing the business potential, market players such as Oracle, SAP, and Infor are in the process of developing enterprise application for the healthcare industry.
Thus, customers are shifting from on-premise to cloud-enabled applications. Access of enterprise application from mobile devices would gain a surge, in terms of adoption.
Leading vendors such as Oracle, SAP, and Microsoft are launching applications, which can be delivered through on-premise as well as cloud models. Further, they are also developing integrated mobile applications with the cloud to enhance the mobility of the customer. The market is increasingly witnessing a shift towards cloud service.
Customers today, prefer cloud-enabled applications over the conventional delivery model as it enables their workforce to access information for a critical business decision anytime and anywhere. Hence, this results in higher productivity and efficiency of the businesses. The surge in cloud technology would drive the adoption of cloud-enabled applications.
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Enterprise Application Market Key Segment
The global enterprise application industry is segmented as:
- Web conferencing
- Competitive Intelligence
- Customer Relationship Management
- Predictive Analytics
- Fraud detection
- Brand Reputation
By End User
- Fast Moving Consumer Goods (FMCG)
- Banking Financial Services and Insurance (BFSI)
- Healthcare and Pharmaceuticals