Enterprise Software Market Gaining Traction from Adoption of Cloud-based Artificial Intelligence

The global enterprise software market size was over $360 billion in 2018, and the demand is estimated to grow with a progressive CAGR of 6% during the forecast period 2019-2025, according to a fresh market research report from IndustryARC. The report is titled: "Enterprise Software Market: By Type (Enterprise Software and SaaS), By Development (Proprietary Software, ASP and others), By Application (Supply chain, Customer service and others), and By Geography - Forecast (2019-2025)." The analyst of the report highlights growing use of enterprise software in various end use industries such as healthcare, manufacturing, and IT & telecommunication as primary growth drivers of the enterprise software market.

Browse 74 Market Tables, 178 Figures spread through 147 slides and an in-depth TOC "Enterprise Software Market (2019 - 2025)"

Enterprise Software Market Product Analysis:

Enterprise software’s overwhelming features play vital role in managing business operations and customer relations. The business process management platform is emerging significantly by providing constant pioneering solutions to retain the ever-changing business needs. Enterprise content management (ECM) systems have effective control on an organization and on its business management processes. ECM software helps to store, organize, and manage large amounts of data securely through several file types. IT service management is a domineering solution for an organization to gain enriched return on investment through excellent IT services. Supply chain management, customer relationship management, enterprise resource planning, and business intelligence are the majorly used application software. Enterprise software is extensively used in diverse range of end use industries such as healthcare, manufacturing, IT & telecommunication, transportation, and media & entertainment. SAP, IBM, Microsoft, and Adobe expended billions to acquire enterprises which provides security, cloud, and software development tools

Enterprise Software Market Companies: Latest Developments

• SAP, Oracle, Microsoft, Infor, Kronos, IBM, Adobe, Sales Force, Amazon, Dassault Systemes, FIS, Dell EMC are some of the key players holding major shares in the enterprise software market.
• IBM acquired Red Hat for $34 billion in October 2018. It was targeted to prevent portability of data across multiple clouds, and to offer data security based on which the enterprises confidently move their business applications to cloud. With this acquisition, IBM has positioned itself as a cloud power as well as incremented its efforts on open source.
• Adobe purchased Marketo in September 2018 for an amount of $4.75 billion. Through this acquisition the marketing software company product is used in a cloud platform for direct-to-consumer marketing which comprises of customer experience across both B2B and B2C verticals.
• In June 2018, Microsoft Corporation acquired GitHub for $7.5billion. This agreement aimed to develop and deploy the code obtained by using different programming languages, and tools to any operating system, cloud, and device. It is focused in shaping the future of software development by combining Github’s largest software code base with Microsoft’s Azure cloud platform.
• Sales Force is an American cloud-based software company, and it acquired Mulesoft for $6.5 billion in March 2018. This acquisition is creating tremendous opportunities to enable customers to connect each and every information related to enterprise crossways all public and private clouds and data sources. Mulesoft employs an integration platform which empowers companies to build application networks such as SaaS & enterprise applications in the cloud and on premise.
• SAP SE is a Germany-based European multinational software corporation. It acquired Qualtrics for $8 billion. Consequently, Qualtrics estimated the revenue to cross $400 million for the year 2018 with a growth rate of more than 40% being a part of SAP’s Cloud Business Group

Enterprise Software Market Segment Analysis:

• Marketing or customer relationship management (CRM) segment is currently the leading segment in the enterprise software market, and is estimated to grow at a notable CAGR of 5% over a forecast period 2019 – 2025. Intuitive CRM software is attracting top players to boost their inbound sales.
• On the basis of geographical analysis provided in the IndustryARC report, North America occupies a large share that is about 25% among all regions in the global enterprise software market.

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