Enterprise Application Market size forecast to grow at over 7.61% CAGR up to 2024

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Enterprise Application Market share to exceed
287.7bn by 2024 Global Market Insights Inc.
Fuel Cell Market size worth 25.5bn by 2024
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Overview

• Global Enterprise Application Market size
  contributed about 151 billion for 2015 and
  predicted to record CAGR of 7.61 during forecast
  timeframe. Execution of these applications help
  real time data flow and smooth business process
  implementation. Further, it also helps in value
  enhancement through better supply chain
  management and this in turn is projected to fuel
  industry growth during forecast period.
• Rising choice for remote access and smartphone
  evolution is predicted to enhance use of data and
  value added service which in turn supports
  industry demand. In addition to this,
  availability of inexpensive and multi-functional
  items is projected to favorably impact revenue
  growth. Increasing customer choice for multimedia
  equipment along with mobile equipment growth is
  also predicted to fuel the industry demand as
  multimedia enabled equipment offer more features
  with information security over web.
• However, easy accessibility of open source
  solutions can hinder global enterprise
  application industry expansion. The reason for
  this being that these solutions act as a
  replacement for enterprise applications which
  incur heavy implementation costs as well as high
  maintenance charges.

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Product Insights

• Global enterprise application industry is
  segmented into products like content management
  system, enterprise resource planning, business
  intelligence, customer relationship management,
  supply chain management, business process
  management and enterprise asset management.
• Enterprise resource planning (ERP) segment
  contributed more than 20.1 of global enterprise
  application market share for 2015. It is
  projected to register CAGR of about 7.71 during
  forecast timeline. Increasing requirement to
  mechanize back office functions and real time
  data flow is anticipated to fuel segment growth.
• Content management systems (CMS) segment is
  predicted to experience substantial expansion due
  to increasing demand for digital content
  management. It is anticipated to register CAGR of
  about 13.6 during forecast period and estimated
  to contribute more than 8.6 billion in revenue
  form by end of 2024. Customer relationship
  management (CRM) segment has grown due to rising
  consciousness about consumer engagement
  management (CEM). It is projected to contribute
  more than 25.1 of global enterprise application
  market share by end of forecast timeline.

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

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End use Insights

• Global enterprise application market is segmented
  into various end uses like telecom IT, retail,
  manufacturing, aerospace defense, BFSI,
  government and healthcare.
• Healthcare segment contributed more than 16.6
  million for 2015 and is anticipated to register
  CAGR of 8.91 during forecast timeframe. Growth
  of the segment can be attributed to increasing
  requirement for real time information
  transparency across the segment.
• Retail segment contributed more than 15.1 of
  revenue for 2015. Expansion of the segment can be
  credited to rapid acceptance of enterprise
  solutions for improving consumer experience and
  value proposition.

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Deployment Insights

• Global enterprise application industry is
  segmented into varied deployments like cloud
  deployment and on premise deployment.
• Cloud based enterprise application market share
  is predicted to witness significant expansion due
  to less technology infrastructural price, high
  level of accessibility, disaster recovery,
  minimum capital involvement and efficient project
  monitoring. This segment contributed more than
  30.1 of total revenue during 2015. Rising web
  infrastructure is projected to promote adoption
  of cloud based deployment during forecast
  timeline.
• On-premise deployment segment is anticipated to
  register significant growth due to its increasing
  deployment in computers by firms. It is projected
  to register CAGR of about 4.6 in future.

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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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