USD 196.4 billion
Enterprise Software Market Size, Share, Growth Analysis, By Software(Enterprise Resource Planning (ERP) Software, Business Intelligence Software, Content Management Software, Supply Chain Management Software), By Deployment(On-premise, Cloud), By Enterprise Size(Small & Medium Enterprises, Large Enterprises), By End-use(BFSI, Retail, Healthcare, IT & Telecom), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG45E2174 |
Region:
Global |
Published Date: November, 2024
Pages:
165
|Tables:
97
|Figures:
76
Enterprise Software Market Insights
Global Enterprise Software Market size was valued at USD 217 billion in 2022 and is poised to grow from USD 242.17 billion in 2023 to USD 582.69 billion by 2031, growing at a CAGR of 11.6% during the forecast period (2024-2031).
The enterprise software market is projected to have significant development opportunities due to the growing usage of cloud-based services in small and medium–sized businesses. Enterprises are operating in a highly competitive environment, which is resulting in new requirements and the creation of novel software solutions. Throughout the projected period, this feature will provide the enterprise software market tremendous growth potential.
For a variety of line-of-business operations, including but not limited to business intelligence, human resources, manufacturing, sales and service, planning, materials and inventory management, customer relationship management, purchasing, finance and accounting, and marketing, organizations around the world and in the majority of industry verticals are increasingly using enterprise software. Using corporate software is mostly done to increase productivity and efficiency while gaining a sizable competitive advantage.
The global spending on corporate application software is predicted to increase as more businesses upgrade essential functionality, with the majority of spending going toward replacing, modernizing, or functionally extending existing office and business applications. The approval of larger spending for IT initiatives in businesses is encouraging for the enterprise software sector as a whole.
US Enterprise Software Market is poised to grow at a sustainable CAGR for the next forcast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Large Enterprises
Fastest Growth
Large Enterprises
Growth Rate
11.5% CAGR
Global Enterprise Software Market 2022-2028 ($ Bn)
Country Share for North America Region- 2021 (%)
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Enterprise Software Market Segmental Analysis
Global Enterprise Software Market is segmented by Software, Deployment, Enterprise Size, End-use, and region. Based on Software, the market is segmented into Enterprise Resource Planning (ERP) Software, Business Intelligence Software, Content Management Software, Supply Chain Management Software, Customer Relationship Management Software, and Others. Based on Deployment, the market is segmented into On-premise, and Cloud. Based on Enterprise Size, the market is segmented into Small & Medium Enterprises, and Large Enterprises. Based on End-use, the market is segmented into BFSI, Retail, Healthcare, IT & Telecom, Government & Education, Manufacturing, and Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.
Enterprise Software Market Analysis by Type
On the basis of type, the supply chain management segment is expected to lead the global enterprise software market over the forecast period. Due to the adoption of cloud-based supply chain management (SCM) solutions by businesses to enable new digital format business models in improving their supply chains and accelerating profitability growth through cost reduction, supply chain management is expected to grow at the fastest rate during the forecast period. Applications for supply chain management (SCM) in the cloud are designed to adapt and grow to the demands of partners and suppliers who are dispersed around the globe, enabling the company to react to market demands more quickly.
Enterprise Software Market Analysis by Enterprise Size
On the basis of enterprise size, the large enterprise segment is expected to lead the global enterprise software market over the forecast period. When compared to the other two organization sizes, small and medium enterprises, the large enterprises are the segment that is growing the fastest for global enterprise software. This is because large-scale IT enterprises are investing more in the development and centralization of IT infrastructure, which is anticipated to lead to the creation of profitable pathways for the market for enterprise software during the anticipated period.
Enterprise Software Market Analysis by End-user
On the basis of end-user, the BFSI segment is expected to lead the global enterprise software market over the forecast period. Due to increasing communication costs throughout the anticipated period, the banking, financial services, and insurance segment of the worldwide enterprise software market is expanding at the highest rate. When compared to other global enterprise software vertical sectors over the forecast period, businesses and BFSI segments are associated with cloud service providers.
Global Enterprise Software Market By Enterprise Size, 2021 (%)
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Enterprise Software Market Regional Insights
Based on the region, the North American region currently dominates the global enterprise software market. North American and European countries have been characterized as early adopters of enterprise software, including software as a service (SaaS) as well as customer relationship management (CRM). These regions have relatively high rates of enterprise software adoption, and businesses are increasingly relying on hybrid models that combine cloud and on-premise goods. The rest of the world, particularly North Africa and the Middle East, has seen a very slow increase in the use of enterprise software, but SaaS penetration is still relatively low in these regions. Government rules, a lack of local-language cloud or SaaS solutions, a lack of data center and network infrastructure, and other factors limit the adoption of corporate software in these areas.
Global Enterprise Software Market By Geography, 2022-2028
- Largest
- Fastest
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Enterprise Software Market Dynamics
Enterprise Software Market Drivers
- Increasing popularity of data analytics and cloud computing: A significant element propelling the growth of the global enterprise software market is the constant rise of data analytics and cloud computing. The market is expected to be driven by factors such as cloud computing, corporate software adoption across multiple vertical markets, expanding information technology (IT) expenditures, and increased demand for business intelligence & data analysis. Additionally, it is anticipated that the growing use of enterprise resource planning (ERP) and customer relationship management (CRM) will accelerate worldwide business growth during the anticipated time. In addition, it is anticipated that during the forecast period, the introduction of new business software, technological innovation and development, an increase in the number of businesses globally, and the entry of new players into the market will all contribute to the growth of the global enterprise software market.
Enterprise Software Market Restraints
- The program's own downsides, such as customization and flexibility concerns, high support and licensing costs, and challenges with existing data migration, are some of the main constraints that participants in the business software market must contend with. However, if businesses are able to get over these obstacles, the advantages of enterprise software can help a company succeed in a cutthroat market.
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Enterprise Software Market Competitive Landscape
The market for enterprise software is highly fragmented. Industry participants are concentrating on a variety of strategies such as partnerships, acquisitions and mergers entering new markets, developing new products, and technological advancements in order to maintain a position in the market. Due to increased demand from a variety of industries, including healthcare, manufacturing, IT, telecom, and BFSI, they are increasing the amount they invest.
Enterprise Software Market Top Players Company Profiles
- Accenture (Ireland)
- Cisco Systems Inc. (US)
- Hewlett Packard Enterprise (US)
- IBM Corporation (US)
- Microsoft Corp (US)
- Oracle Corp (US)
- Salesforce.com, Inc. (US)
- SAP SE (Germany)
- SYSPRO (South Africa)
- Zoho Corporation Pvt. Ltd. (India)
- Atlassian Corporation Plc (Australia)
- ServiceNow, Inc. (US)
- Workday, Inc. (US)
- Nintex (Australia)
- Pega Systems Inc. (US)
- Box, Inc. (US)
- Smartsheet Inc. (US)
- SugarCRM Inc. (US)
- RingCentral, Inc. (US)
- Adeptia Inc. (US)
- Kissflow Inc. (US)
Enterprise Software Market Recent Developments
- In June 2022, Kissflow, a Chennai-based SaaS company, released a new low-code/no-code work platform. For users across the entire organization, the platform combines the full range of work management. End-users, teams, team managers, process specialists, citizen developers, and IT developers are all included in this.
Enterprise Software Key Market Trends
- One of the biggest trends that has had a favorable effect on the global enterprise software market is the move toward cloud computing. The acceptance and use of enterprise platforms has also expanded as a result of enterprise mobility solutions, such as the BYOD movement. The requirement for enterprise application software has increased along with the demand for corporate information and analytics, which has boosted the global market.
Enterprise Software Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyzes the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to the analysis, the global enterprise software market is currently led by countries in the North America region, due to the relatively high rates of enterprise software adoption in this region. Along with this, the large enterprise segment is projected to lead the market over the forecast period because large-scale IT enterprises are investing more in the development and centralization of IT infrastructure.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 217 billion |
| Market size value in 2031 | USD 582.69 billion |
| Growth Rate | 11.6% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Enterprise Software Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Enterprise Software Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Enterprise Software Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Enterprise Software Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Enterprise Software Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Enterprise Software Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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