Enterprise Application Market forecast to exceed $287bn by 2024

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Enterprise Application Market share to exceed
287bn by 2024 Global Market Insights Inc.
Fuel Cell Market size worth 25.5bn by 2024
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Key Insights of Enterprise Application Market

• According to the new market research report
  Enterprise application market Size By Product
  (CRM, ERP, SCM, Web Conferencing, Business
  Intelligence BI, BPM, CMS, EAM), By End-Use
  (Manufacturing, BFSI, Healthcare, Retail,
  Government, Aerospace Defense, Telecom IT),
  By Deployment (On-Premise, Cloud), Industry
  Analysis Report, Regional Outlook (U.S., Canada,
  UK, Germany, Japan, China, India, Mexico,
  Brazil), Application Potential, Price Trends,
  Competitive Market Share Forecast, 2016 2024
  Global Enterprise Application Market share
  contributed about 151 billion for 2015 and
  predicted to reach 287.7bn by 2024.
• Enterprise application is a highly complex system
  deployed across corporate bodies to ensure real-
  time information flow along with smooth business
  operations. Growing demand for efficient IT
  infrastructure, rising internet connectivity,
  rapid adoption of cloud computing technologies,
  and growth in smartphones and mobile devices are
  the vital factors influencing the enterprise
  application market share worldwide.

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Continued

• A huge adoption trend across various end-use
  industries such as Healthcare, BFSI,
  Manufacturing, Government, Retail, Telecom IT,
  and Aerospace Defense is boosting the global
  enterprise application market size. Enterprise
  application provides these industries with a wide
  set of solutions such as CRM, SCM, ERP, Business
  Intelligence BI, Web Conferencing, BPM, EAM,
  and CMS. These solutions enable the users with
  better inventory management, quality management,
  customer engagement, and supply chain management.
  
• ERP market which accounted for 20 of the overall
  enterprise application share in 2015, is
  anticipated to register a CAGR of 7.7 over the
  coming eight years. Website content management,
  which has become an integral part of any
  organization is driving the growth of the CMS
  (Content Management System) market. CMS market
  share is estimated to exceed USD 8.5 billion by
  2024. Owing to the growing demand for customer
  engagement management, CRM segment will also
  witness significant growth over the coming years,
  accounting for over 25 of the overall enterprise
  application market share by 2024.

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Asia Pacific Enterprise Application Market Size,
by end-use, 2013-2024 (USD Billion)

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Continued

• Cloud based enterprise application, which
  accounted for 30 of the overall share in 2015,
  is gaining popularity among various sectors,
  particularly manufacturing and retail, due to
  increasing focus on cost optimization, growing
  internet connectivity and demand for enhanced
  accessibility. Also, on-premise deployment model
  is projected to witness a CAGR of 4.5 over the
  period of 2016-2024.
• The implementation of enterprise application
  across various industries solely depends upon the
  requirements from the respective sectors.
  Enterprise application in the healthcare industry
  was worth USD 16.5 billion in 2015 and is
  forecast to grow at a CAGR of 8.9 from
  2016-2024.
• The growth will primarily be driven by growing
  demand for real-time data transparency across
  this sector. Retail industry will also witness
  huge adoption of this system to ensure better
  customer management.

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Continued

• Global enterprise application market worth USD
  150 billion in 2015, is forecast to register a
  CAGR of 7.6 over the period of 2016-2024. The
  North America market size is estimated to account
  for 30 of the overall revenue by 2024, driven by
  modern organizational structure and
  customer-centric approach of the companies across
  this region. The Asia Pacific market is
  anticipated to record a CAGR of 9.5 over the
  coming eight years, hitting USD 75 billion by
  2024.
• Technological advancements coupled with
  cloud-based solution demand by SMBs is likely to
  drive the regional demand. Novel IT developments
  like Big Data and Internet of things will bring
  immense growth opportunities for the market
  players.
• The participants will spend largely on RD to
  develop innovative products and solutions in
  order to meet growing technological needs and
  most importantly to sustain competition. Startups
  and small scale industries will also share decent
  business space over the coming timeframe. Key
  market participants are IBM, Oracle, , Microsoft,
  SAP, Epicor Software, IFS, Infor,
  Hewlett-Packard, and QAD.

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Regional Insights

• Global enterprise application market is segmented
  into geographical locations like Europe, MEA,
  North America, APAC and Latin America. U.S.
  enterprise application market contributed more
  than 30.1 billion for 2015. North American
  industry is predicted to contributed more than
  30.1 of overall revenue by end of forecast
  period. Industry expansion in the region can be
  attributed to factors like flexible organization
  structure and consumer centric approach of firms.
• APAC enterprise application industry is projected
  to register significant expansion due to rising
  amount of startup firms along with presence of
  large amount of small scale firms in the region.
  It is predicted to register CAGR of about 9.51
  during forecast timeframe and projected to
  contribute about 75.1 billion in revenue terms
  by end of 2024. The regional industry growth is
  credited to factors like Chinese producers
  developing cost effective enterprise solutions
  and technological breakthroughs along with
  development of lightweight, innovative and
  compact equipments predicted to provide growth
  avenues.

Competitive Insights

• Key industry players profiled in the report are
  Hewlett-Packard Company, IFS AB, Microsoft
  Corporation , Oracle Corporation, Epicor Software
  Corporation, QAD, IBM Corporation, Infor
  Incorporation and SAP AG.

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