Global Enterprise Search Market

Global Enterprise Search Market Size, Share, Growth Analysis, By Enterprise Size(Small, Medium), By End Use(Government & Commercial Offices, Banking & Finance) - Industry Forecast 2024-2031

Report ID: SQMIG45F2106 | Region: Global | Published Date: February, 2024
Pages: 165 | Tables: 64 | Figures: 75

Global Enterprise Search Market News

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Enterprise Search Market size was valued at USD 3.87 billion in 2019 and is poised to grow from USD 4.21 billion in 2023 to USD 9.08 billion by 2031, growing at a CAGR of 8.9% in the forecast period (2024-2031).

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. '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'

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.

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.

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.

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