The global enterprise application market is expected to reach $213,43-billion by 2020, registering a CAGR of 7,4% during 2014 – 2020, according to a new report from Allied Market Research.
The latest research – “Global Enterprise Application Market – Size, Industry Analysis, Trends, Opportunities, Growth and Forecast, 2013 – 2020” – says enterprise application facilitates an easy flow of internal and external business information. Furthermore, the integration of business processes is effectively rendered through implementation of enterprise application. Thus, these benefits lead to a large adoption of enterprise applications among customers. CRM and ERP application would drive the enterprise application market significantly by year 2020, together contributing to around 2/5th of overall market revenue. The CMS application would grow rapidly in future, as it finds increasing use in converting unstructured data into structured information and allows a non-technical user to manage content on a website easily.
There is a paradigm shift in the deployment methods from on-premise to cloud based models due to emergence of cloud technology in the market. Cloud enabled application considerably reduces the investments required in alternative IT resources. Thus, customers are shifting from on-premise to cloud enabled applications. Access of enterprise application from mobile devices would gain a surge, in terms of adoption.
Retailers have adopted enterprise application to monitor and control their business processes. The healthcare industry would highly adopt enterprise applications to gain data transparency in realtime. This allows the entire value chain involved in the healthcare industry to provide a patient-centric system. Realising the business potential, market players such as Oracle, SAP and Infor are in the process of developing enterprise application for the healthcare industry.
Leading vendors such as Oracle, SAP and Microsoft are launching applications, which can be delivered through on-premise as well as cloud models. Further, they are also developing integrated mobile applications with cloud to enhance the mobility of customer. The market is increasingly witnessing a shift towards cloud service.
Key findings of the study:
• Amongst the different types of applications, CMS application market would grow at the fastest CAGR during 2014-2020
• On-premise applications would continue to have a larger market share occupying around 55% of market in 2020. But, cloud-based applications would witness higher growth during 2014-2020
• Healthcare, followed by the Aerospace and defense would witness high growth in comparison with other industry verticals during 2014-2020
• Asia-Pacific would prove to be one of the most lucrative markets, in terms of growth
Customers today, prefer cloud enabled applications over conventional delivery model as it enables their workforce to access information for critical business decision anytime and anywhere. Hence, this results into a higher productivity and efficiency of the businesses. The surge in cloud technology would drive the adoption of cloud enabled applications.