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 Updates

Skyquest Technology's expert advisors continuously track and analyze the latest developments and updates related to enterprise software market. Our team of analysts stay abreast of all the recent news stories shaping the industry including new product launches by major companies, strategic partnerships, M&As, Patent filings and industry and regulatory developments.

Enterprise Software Market News

In October 2024, HostBooks, a renowned name in the business automation space announced the launch of its new ERP software. The new solution is aimed specifically at the construction industry to improve project outcomes and solve challenges that the industry is facing at present.
In July 2024, Sense, a leading innovator in talent management through use of artificial intelligence announced the launch of a new Candidate Relationship Management (CRM) platform. The offering is aimed at helping talent management teams optimize their operations and boost efficiency as well.
In June 2024, Trimble, a leading American software company announced the launch of a new asset lifecycle management software suite. Trimble Unity helps enterprises manage their assets and project in an efficient manner using connected data and digital workflows.

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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.

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Enterprise Software Market Updates

Enterprise Software Market News

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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