Latest News- Enterprise Application Software Market: On-premises is expected to lead the Deployment segment during 2024-2028

The Enterprise Application Software Market is being driven by Introduction of cloud-based deployment solutions

The Enterprise Application Software Market is expected to grow at a CAGR of 7.81% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 134 billion. In today's business landscape, organizations increasingly turn to hybrid cloud solutions for their enterprise application software to optimize efficiency, ensure data security, and maintain control while minimizing costs. Hybrid cloud deployments offer the benefits of both public and private cloud models. For instance, a hybrid cloud setup includes an on-premises application that acts as a replication engine to the cloud and a potential recovery point for backups. This configuration enables seamless application movement between public and private cloud environments, providing organizations with the flexibility to choose the optimal environment for specific workloads based on their unique requirements. By implementing a hybrid cloud strategy, businesses can achieve application resilience, data protection, and cost savings. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Deployment
  • On-premises
  • Cloud-based
• Solution
  • Enterprise resource planning
  • Analytics and business intelligence
  • Customer relationship management
  • Supply chain management
  • Others
• Geography
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
  • APAC
    • China
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Introduction of cloud-based deployment solutions
• Growing need to enhance business efficiency
• Increasing demand for ERP software from SMEs

However, the market also witnesses some limitations, which are as follows:

• Threat from open-source enterprise application software providers
• Data privacy and security concerns
• Integration challenges related to unscalable applications

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Market Scope in Enterprise Application Software Market Research Report

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Research Analysis Overview

In the corporate environment, Enterprise Application Software (EAS) plays a crucial role in managing business processes through licensed and open-source applications. These include inventory control, project management, business intelligence, human resources, sales and service, finance and accounting, and corporate application software. EAS enables line-of-business operations, IT initiatives, supply chain management, customer relationship management, and e-commerce systems. Deployment options include on-premise and cloud-based services, with the latter offering advantages such as big data processing and real-time access. Data security is a key consideration in the use of EAS, particularly in cloud deployment.

Market Research Overview

In the corporate realm, the enterprise application software market encompasses organizations specializing in the creation and distribution of software solutions designed to optimize business processes. These applications cater to sectors such as inventory control, project management, and business intelligence. The market comprises both licensed and open-source applications, with the IT department playing a pivotal role in implementation and maintenance. Data security is a paramount concern, ensuring business operations run smoothly while safeguarding sensitive business documents, customer journey mapping, contact information, and touch points. Technavio's market analysis calculates the global enterprise application software market size based on the consolidated revenue generated by these companies, encompassing cloud-based solutions, and excluding those classified in the interactive home entertainment or systems software industries.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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