USD 3.87 billion
Global Enterprise Search Market Size, Share, Growth Analysis, By Enterprise Size(Small, Medium), By End Use(Government & Commercial Offices, Banking & Finance) - Industry Forecast 2023-2030
Report ID: SQSG45F2021 | Region: Global | Published Date: April, 2023 | Pages: 165 | Tables: 64 | Figures: 75
Global Enterprise Search Market Insights
Global Enterprise Search Market size was valued at USD 3.87 billion in 2021 and is poised to grow from USD 4.21 billion in 2022 to USD 9.08 billion by 2030, growing at a CAGR of 8.9% in the forecast period (2023-2030).
The primary driver of Enterprise Search Market expansion for business search is expected to be the rising need for time-saving data search solutions. It is necessary to manage the growing amounts of data that huge organizations are sourcing from many sources. Due to their assistance in managing and organizing this data, many organizations have used enterprise search solutions widely. Enterprise search solutions make it possible for users to access the necessary data or information from a variety of databases, emails, intranets, data management systems, and other sources. By effectively organizing information and quickly finding the needed information, it helps the business save time and money throughout operations. It also adds a degree of protection by limiting access to information to those who are permitted.
Over the course of the forecast period, the demand for pertinent information and the advent of technologies like Software as a Service (SAAS) and cloud computing are also expected to boost the expansion of the Enterprise Search Market. These technologies' low maintenance and installation costs and lack of need for technical support personnel are expected to drive the growth of the enterprise search market. Data ambiguity and expensive implementation costs could limit the market's growth. Information and search technology convergence may offer significant growth potential. Every organization's information search system incorporates enterprise search. The confluence of the software, telecommunications, and computing industries forms the foundation of these systems. These industries' diverse nature and the technologies they use, like big data, are giving the market a variety of opportunities. The extensive product line-up and service selections help to boost sales. The volume of global data is expected to increase to 7.9 ZettaBytes in 2021 from the current estimate of 1.8 Zetta Bytes.
The market for integration tools, applications, and development tools is driven by a small number of vendors and the growth of enterprise search on a single platform. Challengers in such a situation must engage in intense haggling to build strategic alliances with significant industry players. The Enterprise Search Market for application and integration tools is driven together by the concentration of vendors. As a result, the large suppliers have the chance to form partnerships with other organizations looking for ES vendors in order to offer standardized and interoperable products. Because they would be providing the platform and middleware tools in addition to integrated tools, this would improve and strengthen the position of the major players.
US Enterprise Search Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2023-2030
Global Market Size
Largest Segment
Medium
Fastest Growth
Medium
Growth Rate
8.9% CAGR
Global Enterprise Search Market 2021-2028 ($ Mn)
Country Share for North America Region- 2021 (%)
Global Enterprise Search Market Size by Size, 2021-2028 ($ Mn)
Global Enterprise Search Market Size by Size, 2021-2028 (%)
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Global Enterprise Search Market Segmental Analysis
Global Enterprise Search Market is segmented based on Enterprise Size, End Use, and Region. Based on Enterprise Size the Enterprise Search Market is further sub segmented into Small, Medium, and Large. Based on End Use the Enterprise Search Market is further sub segmented into Government & Commercial Offices, Banking & Finance, Healthcare, and Retail. Based on Region, the Enterprise Search Market is further sub segmented into North America, Europe, Asia Pacific, South America, and MEA.
Enterprise Search Market Analysis by End Use
Over the next eight years, it is expected that the worldwide enterprise search market will continue to see banking & finance as a large end-use category. The segment's main driver of growth is the interconnection and exchange of data across various channels. Due to the growing use of the intranet to communicate data and information over the projected period, the growth of government and commercial offices is expected to be significant. Enterprise search tool solutions can be utilized in the healthcare and medical sectors to acquire crucial treatment information, enabling the quick and effective operation of medical institutions. Defence, aerospace, construction, media, and entertainment are some further end-use industries.
Enterprise Search Market Analysis by Enterprise Size
On the basis of the number of employees, the size of the businesses can be categorized. Depending on their needs, large, medium, and small businesses use enterprise search solutions. Any huge company's extensive database makes it a laborious procedure to search for correct data. The most effective way to handle these problems, save time, and improve operational efficiency is through enterprise search solutions.
Global Enterprise Search Market Share By Size, 2021 (%), 2021 (%)
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Global Enterprise Search Market Regional Insights
Due to the presence of the major industry players and technological improvements, North America is expected to be the important regional Enterprise Search Market throughout the projection period. Additionally, the fusion of information technology and enterprise security solutions may open up new business opportunities in North America. Due to the expansion of the information technology industry in nations like India, China, Japan, South Korea, and the Philippines, the Asia Pacific region is predicted to have significant growth through the year 2024.
Global Enterprise Search Market By Geography, 2021 - 2028, 2023-2030
- Largest
- Fastest
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Global Enterprise Search Market Dynamics
Enterprise Search Market Driver
- The global enterprise search market is expected to grow during the forecast period due to the rising need to make searches more relevant. Since some of the sources offered on the platform are paid sources, information search is an expensive operation from an economic standpoint. Enterprise search gives ordered data to the user while saving time. Accessing information quickly is the main goal of information search, and an enterprise search achieves this goal. Enterprise search is being adopted by numerous industries, including communications, IT, pharmaceutical, banking, and finance, in order to transform scattered information into an operational benefit. Enterprise search is also developed privately among businesses and offers pertinent content in databases and servers. Therefore, during the expected period, these benefits are expected to fuel the growth of the global enterprise search market.
- Over the forecast period, the availability of technologies is expected to drive the growth of the global enterprise search market. The availability of technologies like cloud computing and business analytics is provided by enterprise search. These tools give workers the ability to efficiently accomplish their work-related objectives. Due to businesses' increasing need to cut costs, cloud computing has seen widespread adoption. Additionally, compared to on-premise deployments, the initial investment for cloud computing is significantly lower.
Enterprise Search Market Restraint
- During the projected period, unclear keyword meaning is expected to impede market growth for enterprise search globally. The fact that most words have multiple meanings and are difficult to understand without context makes the market extremely tough. This issue has been solved by web search by offering linkages between web pages so users can understand the intended meaning. Due to the rarity of intranet document linkages, this technique is ineffective for enterprise research. Additionally, the existing enterprise search is too slow and not precise enough. Giving computers the ability to understand a word's intended meaning is the answer to this problem, and Spring Sense's meaning recognition technology is the first to do so with an accuracy rate of 82.4%.
- Over the projected period, the variety of enterprise repositories and search quality are expected to restrain the growth of the worldwide enterprise search market. An employee performs a search to locate a sizable volume of material that is pertinent to the topic. Search engines should be able to translate the information into a format that the employee can read as it is highly conceivable that the information retrieved is older and not in a format that is now supported. Enterprise search companies find it difficult to deliver the data in a specific manner. Information retrieval programs known as "Enterprise Search" look for corporate repositories using a variety of fundamental technologies.
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Global Enterprise Search Market Competitive Landscape
Due to the existence of a small number of significant companies, the Enterprise Search Market is moderately consolidated. Leading players also participate in partnerships, product launches, mergers, and acquisitions to expand their product lines.The following are a few of the leading companies in the Enterprise Search market.
Enterprise Search Market Top Player’s Company Profiles
- Microsoft Corporation
- Coveo Solutions
- Lucidworks
- IBM Corporation
- Hewlett Packard Enterprise (HPE)
- Oracle Corporation
- Google LLC
- Amazon Web Services (AWS)
- Elastic NV
- Sinequa
- Mindbreeze GmbH
- Micro Focus International plc
- Dassault Systèmes SE
- SAS Institute Inc.
- Algolia Inc.
- Attivio, Inc.
- BA Insight LLC
- Commvault Systems, Inc.
- OpenText Corporation
- Veritas Technologies LLC
Enterprise Search Market Recent Development
- In March 2021, Launched by Microsoft Azure Cognitive Search. In order to provide a rich search experience over private, heterogeneous material in online, mobile, and corporate apps, Azure Cognitive Search provides developers with infrastructure, APIs, and tools.
- In April 2021, The Relativity One and Relativity server platforms now support the X1 Social Discovery technology, according to X1 Technologies Inc., a provider of data discovery and compliance software..
Global Enterprise Search Key Market Trends
- In order to diversify their product offerings and obtain a competitive edge, the major market players concentrate their efforts on R&D operations. For instance, IBM Corporation introduced cloud-delivered services to fuel analytics research, illustrate big data insights, and improve industrial R&D in January 2021. In addition, IBM Corporation combined enterprise search V3.0 with unified content analytics in January 2021.
- To increase their position in the market, major corporations engage in merger and acquisition activity. For instance, IBM Corporation acquired Cloudant in February 2021, which enabled it to create web applications and large data. Bluekai, a premier cloud-based big data platform that helps the business to customize mobile, web, and offline marketing with more meaningful data, was acquired by Oracle in February 2021.
Global Enterprise Search Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected using Primary Exploratory Research backed by robust Secondary Desk research.
According to our analysis, the banking & finance segment dominated the global Enterprise Search Market in 2021 and is expected to maintain its dominance throughout the forecast period. In 2021, North America dominated the global Enterprise Search Market owing to the region's highly aware and economically stable population.
| Report Metric | Details |
|---|---|
| Market size value in 2021 | USD 3.87 billion |
| Market size value in 2030 | USD 4.21 billion |
| Growth Rate | 8.9% |
| Base year | 2021 |
| Forecast period | 2023-2030 |
| 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 Global Enterprise Search 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 Global Enterprise Search 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 Global Enterprise Search 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 Global Enterprise Search 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 Global Enterprise Search Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Enterprise Search 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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