Latest News- Enterprise Application Software Market: On-premises is expected to lead the Deployment segment during 2025-2029

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 7.9% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 146.5 billion. In the Enterprise Application Software Market, hybrid cloud solutions have emerged as a preferred choice for organizations seeking to reap the benefits of both public and private cloud environments. These solutions enable seamless application migration between public and private clouds, ensuring business continuity and disaster recovery. The hybrid cloud model offers organizations the advantages of cost savings, enhanced security, and control, while ensuring application efficiency and data privacy. A hybrid cloud setup typically incorporates an on-premises application acting as a replication engine to the cloud and a potential recovery point for backups. Organizations adopting a hybrid cloud strategy can optimize their IT infrastructure by leveraging the cost-effectiveness of public clouds for non-critical workloads and maintaining control and security for sensitive applications on private clouds. 

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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
• End-user
  • BFSI
  • IT and telecommunication
  • Retail and e-commerce
  • Government and public sector
  • Others
• Geography
  • North America
    • Canada
    • Mexico
    • US
  • Europe
    • Germany
    • UK
    • France
    • Italy
  • APAC
    • China
    • India
    • Japan
  • 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

The Enterprise Application Software Market encompasses various solutions, including open source and proprietary software. Deployment options range from on-premise to hybrid cloud, with emerging trends like serverless computing, blockchain technology, edge computing, and extended reality (AR/VR/XR). Low-code/no-code platforms, computer vision, and hyperconverged infrastructure (HCI) are also key components. IT infrastructure and cloud security are crucial considerations throughout.

Market Research Overview

The global IT software market encompasses organizations specializing in the creation and distribution of application and system software, as well as database management solutions. The application software sector focuses on developing software for business and consumer applications, including enterprise and technical solutions, as well as cloud-based applications. Technavio determines the size of the IT software market by aggregating the revenues of companies providing various types of software, including cloud-based solutions. Key trends in this market include the adoption of cloud computing, data analytics, business intelligence (BI), and artificial intelligence (AI) technologies to enhance business operations and decision-making processes.. 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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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/