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

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.