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Data Bridge Market Research analyses that the Enterprise Software Market is expected to reach USD 450.68 billion by 2030, which is USD 232.93 billion in 2022, at a CAGR of 8.60% during the forecast period. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
This enterprise software market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the enterprise software market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
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Global Enterprise Software Market Dynamics
Drivers
- Rising product launches by major market to support company for data-driven decision-making
Increasing product launch by major market to support company for data-driven decision-making is expected to drive the market growth during the forecast period. For instance, IBM revealed Business Analytics Enterprise suite in 2022. It is mainly designed to help enterprises break down analytics silos and data to make data-driven decisions rapidly and navigate the unpredictable disruptions. This launch further builds on IBM’s strategy to offer companies with solutions to support data-driven decision-making.
Opportunities
- Surging mergers and collaboration between major market players
The surging mergers and collaboration between major market players is expected to create ample opportunities for the market. For instance, IBM Corporation partnered with Salesforce in 2018 to integrate their artificial intelligence platform and provide an improved customer service experience. IBM’s cognitive computing technology platform called Watson and Salesforce’s in-house AI platform called Einstein collaborated to provide AI-driven recommendations for future actions.
Some Of The Major Players Operating In The Enterprise Software Market Are:
- IBM (U.S.)
- Microsoft (U.S.)
- Orcale (U.S.)
- SAP (Germany)
- Salesforce, Inc. (U.S,)
- Hewlett Packard Enterprise Development LP (U.S.)
- Broadcom (U.S.)
- VMware, Inc. (U.S.)
- TIBCO Software Inc. (U.S.)
- Zoho Corporation Pvt. Ltd. (India)
- SYSPRO (South Africa)
- Epicor Software Corporation (U.S.)
- Infor (U.S.)
- Accenture (Ireland)
- Cisco Systems Inc. (U.S.)
- Deltek, Inc. (U.S.)
- TABLEAU SOFTWARE, LLC, (U.S.)
- QlikTech International AB (Sweden),
- DataRobot Inc., (U.S.)
- MICROSTRATEGY INCORPORATED (U.S.)
Recent Development
- In 2022, SurePoint Technologies, a practice and financial management solutions provider for law firms, announced their acquisition with Cole Valley Software, a customer relationship management solution for legal professionals. With this acquisition, they will provide a legal technology platform that incorporates real-time CRM into financial data and practice management, enabling law firms to grow and manage client relationships.
- In 2022, CRMNEXT, a global CRM solution provider for financial services, announced a partnership with Wescom Resources Group, a technology solutions provider, to streamline their IT operations. With this acquisition, they will provide credit unions with a customer relationship management solution for financial institutions.
- In 2022, Oracle announced its partnership with Informatica to bring governance products and Informatica’s data integration to Oracle Cloud Infrastructure. This partnership would bring effective value to bring better data science and analytics to their organizations.
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Market Segmentation of Enterprise Software Market:
Type
- Enterprise Resource Planning (ERP)
- Business Intelligence (BI)
- Supply Chain Management (SCM)
- Customer Relationship Management (CRM)
- Web Conferencing Collaboration
- Marketing
- Human Resource Management
- Payment Processing
- Others
Organization Size
- SMEs
- Large Enterprises
Solution
- Software-Defined Networking (SDN) Switching
- Cloud Virtualization
- Software-Defined Networking (SDN) Controllers
Application
- Order Processing
- Procurement
- Scheduling
- Supply Chain
- Customer Information Management
- Sales Accounting
- Web Services
- Energy Management
- Government
End User
- Cloud Service Providers
- Retail
- Banking
- Financial Services and Insurance (BFSI)
- Enterprises
- Academia and Government
- Healthcare and Life Sciences
- Telecommunication Service Providers
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