Report DescriptionAbout IMARC Group

International Market Analysis Research and Consulting Group is a leading adviser on management strategy and market research worldwide. We partner with clients in all regions and industry verticals to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, chemicals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

IMARC’s tailored approach combines unfathomable insight into the dynamics of companies and markets with close cooperation at all levels of the client organization. This ensures that our clients achieve unmatchable competitive advantage, build more proficient organizations, and secure lasting results.

Global Enterprise Application Market Research Report 2022-2027:

According to the latest report by IMARC Group, titled " Enterprise Application Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forec ast 2022-2027

," the global enterprise application market reached a value of US$ 249.9 Billion in 2021.

Enterprise applications refer to software platforms that are mainly used to facilitate coordination and cooperation of work across the organization. They integrate core business processes, including accounting, sales, finance, inventory, human resources and manufacturing, that help an enterprise in a data-centric decision-making process. Its implementation enables real-time and accurate business information flow across businesses.

The demand for enterprise applications is increasing across the globe due to their several benefits, such as standardized business processes, automation of workflow, balanced financial structure, easy tracking of supply chain process and easy accessibility to data archives in a cost-efficient manner.

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Global Enterprise Application Market Trends:

The global market is primarily driven by significant growth in the information technology (IT) sector. Along with this, rapid digitization across the globe has encouraged leading players to heavily invest in the deployment of these solutions. Additionally, the emergence of consulting services among organizations on the global level is providing a boost to the demand for enterprise applications. Moreover, continuous technological advancements and the integration of the internet of things (IoT), artificial intelligence (AI) and machine learning (ML) with these systems are providing an impetus to the market growth. Furthermore, the rapid outbreak of coronavirus disease (COVID-19) and the rising adoption of work-from-home models are considered to be major growth-inducing factors. Other factors, including rapid urbanization, geographic expansion of businesses, intensive business competition, continuous innovation in the software solution, the widespread utilization of connected devices across enterprises and extensive research and development (R&D) activities conducted by key players, are also positively influencing the market.

Looking forward, IMARC Group expects the market to reach a value of US$ 403.9 Billion by 2027, exhibiting at a CAGR of 8.24% during 2022-2027.

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