Enterprise Application Market forecast to grow at over 7.61% CAGR from 2016 to 2024: Global Market Insights Inc. 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.
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. 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 1|Page