- Opportunity and Forecast, 2016-2025
Enterprise application is a collection of software applications deployed to solve enterprise - related problems and includes developmental tools used for building organization-specific applications. Different enterprise applications are integrated within an organization and installed across various networks including intranet, internet, and corporate networks that accomplishes requirements related to security with handling multiple problems at a time. Organizations including businesses, clubs, schools, and governments implement enterprise applications, such as online shopping and payment processing, automated billing systems, interactive product catalogue, enterprise content management, security, and others.
The market is driven by factors including upsurge in demand for multimedia devices, proliferation in adoption of cloud computing, and tracking of customer behavior. However, security threats owing to availability of open source application and high initial & maintenance costs restrain growth in the market. Moreover, preference for remote access and adoption of smartphones are expected to create opportunities in the industry
The global enterprise application market is segmented based on product, end use, deployment, and geography. On the basis of product, the market is classified into customer relationship management (CRM), supply chain management (SCM), enterprise resource planning (ERP), business intelligence (BI), business process management (BPM), web conferencing, content management system (CMS), and enterprise asset management (EAM). Furthermore, on the basis of end use, it is classified into banking, financial services and insurance (BFSI), manufacturing, healthcare, retail, government, aerospace & defense, and telecom & IT. On the basis of deployment, it is classified into cloud and premise. Regionally, it is classified into North America, Asia-Pacific, Europe, and LAMEA.
Key players operating in the industry are IBM, SAP, Oracle, Microsoft, Hewlett-Packard, Epicor Software, Infor, IFS, and QAD. These market players have implemented mergers & acquisitions, expansion, partnerships, joint ventures, collaborations, and other strategies to gain strong position and competitive edge in the global industry.
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