Business Application Software Market Expected $ 104.68 Billion | Driven by a growing number of cloud-based deployment solutions

NEW YORK, January 12, 2022 / PRNewswire / – The global enterprise application software market is fragmented and characterized by the presence of several leading players such as SAP SE, Oracle Corp., Microsoft Corp., Intuit Inc., Salesforce.com, Inc., Broadcom Inc., Accenture, Cisco Systems Inc., IBM Corp. , and Epicor Software Corp. These suppliers are continuously focused on improving their product offering through innovation, which has helped them increase their market share. These suppliers also dominate the market in terms of quality, reliability, service offerings and technological innovations. The level of competition in the market is expected to increase with the entry of new players and the growth of R&D and M&A activities.

Attractive Opportunities in Enterprise Application Software Market by Deployment and Geography – Forecast and Analysis 2022-2026

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Technavio estimates that the market for enterprise application software will grow by $ 104.68 billion between 2021 and 2026, progressing at a CAGR of 7.23% during the forecast period.

The introduction of cloud-based deployment solutions, the growing need to improve business efficiency, and the growing demand for ERP software from SMBs are the major factors propelling the market growth. However, factors such as threats from open source enterprise application software vendors, data privacy and security concerns, and integration challenges related to non-scalable applications will hamper the market growth.

Enterprise Application Software Market: Deployment Landscape
By deployment, the on-premises segment generated maximum revenue in the market in 2021. The growing reliance on the on-premises model by organizations that focus on functionality rather than profitability is driving the growth of the segment. In addition, the proliferation of SMEs and innovations in data security are expected to contribute to the growth of the segment.

Enterprise Application Software Market: Geographic Landscape
By geography, North America is going to have lucrative growth during the forecast period. About 39% of the overall market growth is expected to come from North America. The market for enterprise application software in North America is driven by the increasing need for efficiency and transparency of business processes through digital transformation. The United States is the key market for enterprise application software in North America.

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Associated reports:

Server Storage Market by Type and Geography – Forecast and Analysis 2022-2026

Security Assurance Market by Deployment and Geography – Forecast and Analysis 2022-2026

Scope of the enterprise application software market

Cover of the report

Details

Page number

120

Year of reference

2021

Forecast period

2022-2026

Growth dynamics and CAGR

Accelerate to a CAGR of 7.23%

Market growth 2022-2026

$ 104.68 billion

Market structure

Fragmented

Annual growth (%)

4.89

Regional analysis

North America, Europe, APAC, South America and MEA

Efficient contribution to the market

North America at 39%

Main consumer countries

United States, China, United Kingdom, Japan and Germany

Competitive landscape

Leading companies, competitive strategies, reach of consumer engagement

Profiled companies

Accenture Plc, Broadcom Inc., Cisco Systems Inc., Epicor Software Corp., International Business Machines Corp., Intuit Inc., Microsoft Corp., Oracle Corp., Salesforce.com Inc. and SAP SE

Market dynamics

Parent Market Analysis, Market Growth Drivers and Obstacles, Analysis of Fast Growing and Slow Growing Segments, Impact of COVID-19 and Future Consumer Dynamics, Analysis of Market Conditions for the Forecast Period.

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About Us
Technavio is one of the world’s leading technology research and consulting companies. Their research and analysis focuses on emerging market trends and provides actionable insights to help companies identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialist analysts, Technavio’s report library includes over 17,000 and more reports, spanning 800 technologies, spanning 50 countries. Their customer base consists of companies of all sizes, including more than 100 Fortune 500 companies. This growing customer base relies on Technavio’s comprehensive coverage, in-depth research and actionable market intelligence to identify opportunities in existing markets. and potentials and assess their competitive positions in changing market scenarios.

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Technavio (PRNewsfoto / Technavio)

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