What is the global market size of Enterprise Software Market?

Enterprise Software Market size was valued at USD 196.4 billion in 2019 and is poised to grow from USD 219.3 billion in 2023 to USD 531.1 billion by 2031, growing at a CAGR of 11.5% in the forecast period (2024-2031).

Who are the key vendors in the Global Enterprise Software Market?

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. 'Microsoft Corporation', 'Oracle Corporation', 'SAP', 'Salesforce', 'Adobe', 'VMware', 'Cisco Systems', 'Dell Technologies', 'HP Inc.', 'CA Technologies', 'HCL Technologies', 'Infosys', 'Intel', 'Red Hat', 'Symantec', 'Toshiba', 'Wipro', 'Citrix Systems', 'EMC', 'IBM Corporation'

What is the key driver of Global Enterprise Software Market?

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.

What is the key market trend for Global Enterprise Software Market?

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.

Which region accounted for the largest share in Global Enterprise Software Market?

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.

Enterprise Software Market Trends

Skyquest Technology's expert advisors have carried out comprehensive research on the enterprise software market to identify the major global and regional market trends and growth opportunities for leading players and new entrants in this market. The analysis is based on in-depth primary and secondary research to understand the major market drivers and restraints shaping the future development and growth of the industry.

Enterprise Software Market Dynamics

Enterprise Software Market Drivers

Adoption of Cloud Computing

Increasing number of organizations migrating on cloud platforms to enhance their business scope and fast-track digital transformation are projected to help bolster the demand for enterprise software going forward. The need for suitable software to access cloud-based data and operations of organizations is creating new business opportunities for the future.

Adoption of Data-Driven Decision Making

Organizations around the world are focusing on opting for data-driven decision-making as the importance of data rises. Use of analytics software to gain insights into operations, customer behavior, and market trends is projected to rise in the long run. Enterprise software integrates advanced analytics and reporting features thereby making it vital for data-driven decision-making through 2032.

Enterprise Software Market Restraints

Data Privacy Issues

Enterprise software handles and works with critical business data that also includes vital customer information and financial information as well. Any lapses in security or privacy of this data could lead to mistrust among customers and loss of business for organizations. Hence, some organizations are hesitant to opt for novel enterprise software.

Resistance to Change

Organizations have been working on set and defined workflows for decades and the workforce is hesitant and resistant to try out new solutions. Fear of disruption and lack of familiarity with advanced enterprise software solutions are also contributing to this resistance to change and hurting the global enterprise software market outlook.

Enterprise Software Market Report Snapshots

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FAQs

Enterprise Software Market size was valued at USD 242.17 Billion in 2023 and is poised to grow from USD 270.26 Billion in 2024 to USD 650.28 Billion by 2032, growing at a CAGR of 11.6% during the forecast period (2025-2032).

Enterprise software companies can utilize strategies such as acquisitions, mergers, and collaborations to expand their business scope and boost revenue generation in the future. Enterprise software providers should provide cloud-based solutions to maximize their business potential. Creating industry-specific and custom enterprise software is also expected to offer new opportunities for market players. '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)'

Use of Low-Code and No-Code Platforms: Enterprise software providers should focus on utilizing low-code and no-code platforms to expand the application scope of their offerings and also provide better customization options. These tools can help enterprises in reducing development time and costs, which in turn is expected to help bolster the adoption of enterprise software even for non-technical users.

North America is forecasted to account for a substantial share of the global enterprise software industry. The presence of a developed IT infrastructure, growing use of advanced digital technologies in organizations, and the presence of leading enterprise software providers are helping this region maintain its high share on a global level. Emphasis of organizations on improving their decision-making capabilities through advanced software and technologies is also expected to boost the demand for enterprise software in this region. The United States is estimated to spearhead the adoption of enterprise software in the North American region going forward followed by Canada.

Enterprise Software Market Trends

Enterprise Software Market Dynamics

Enterprise Software Market Report Snapshots

FAQs

What is the global market size of Enterprise Software Market?

Who are the key vendors in the Enterprise Software Market?

What is the key driver of Enterprise Software Market?

What is the key market trend for Enterprise Software Market?

Which region accounted for the largest share in Enterprise Software Market?

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