Enterprise Application Market Share, Size, Trends and Forecasts to 2022

The global enterprise application market size is estimated to be worth USD 259.51 billion by 2022, according to a new study by Grand View Research, Inc. Increasing need among organization for single data access point is anticipated to drive industry growth over the forecast period.

Implementation of enterprise application solution enables real time data and information flow along with level running of business process. Use of these solutions enable better customer engagement, inventory management, quality management and supply chain management. Increasing IT budget of the companies is expected to favor industry growth over the next seven years. Availability of open source solution and high maintenance cost may hinder industry growth over the next seven years.

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Further key findings from the study suggest:

Web conferencing is useful for conducting seminars, business meetings, online presentations, online educations, demonstrations, and offering direct customer support. Companies adopt web conferencing to reduce geographical barrier and enable effective communication across regions. Solution such as Business Process Management (BPM) and Business Intelligence (BI) enables efficient information processing to facilitate organizational development. Business Process Management (BPM) offers benefit such as increased customer satisfaction, improved agility, cost saving, greater team satisfaction and full transparency of all activities across the organization. Content Management System (CMS) is anticipated to grow at a CAGR of around 13% from 2015 to 2022.

Healthcare sector is estimated to grow at a CAGR of over 8.5% from 2015 to 2022. Increasing need for real time data transparency is anticipated to drive growth over the forecast period. Industries such as BFSI, healthcare, retail, and telecom adopts these solutions to enhance customer experience and value...