Global Enterprise Software Market Size is projected to reach $404 Billion by 2028. Market growth will be 11.1% over the forecast period.

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Enterprises are commonly used to describe large ventures and business organizations. These enterprises often include many roles and activities. A typical enterprise includes a sales department and an IT/technology section.

New York, Dec. 20, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Global Enterprise Software Market Size, Share & Industry Trends Analysis Report By Deployment, By Type, By Enterprise Size, By End-use, By Regional Outlook and Forecast, 2022 – 2028” – https://www.reportlinker.com/p06374126/?utm_source=GNW
Software that is used for business purposes or personal use, such as enterprise software (EAS), can be used to meet the requirements of an organization. These organisations include schools, clubs, governments and interest-based users groups.

Enterprise software is becoming more popular as flexibility and efficiency are essential. Enterprise software is being used by businesses of all sizes to ensure smooth operation. Enterprise software has been trusted by every industry sector because it is flexible and can increase productivity.

Enterprise Application Software (EAS), is a software that allows companies to automate, consolidate and process data from multiple systems. EAS also provides enhanced security and compliance features that help organizations improve their overall performance. Software for enterprise management and data management is essential for both small and large businesses.

The rising cost of IT services has also influenced small businesses to adopt enterprise-level software. Businesses use business software and services in order to improve their company operations. Software and solutions are selected by businesses based on their needs and usage.

These software and services allow for fast and easy access to unstructured data that was obtained through data analytics. This helps in establishing data security and safety goals. Enterprise solutions allow businesses to increase their profits by reducing the cost of raw materials and inventory. The Departmental Data can be connected to business solution modules for live updates. This eventually leads to greater data transparency.

COVID-19 Impact Analysis

The Covid-19 pandemic was a significant setback for the economy and society. Every organization was affected by the impact on supply and production. Covid-19 spread was stopped by many measures, including physical and social distancing and complete lockdowns. Quarantine zones were also established to prevent further outbreaks. Many businesses and organizations suffered partial shut downs and losses as a result of these steps. Additionally, those organizations that were able establish their online presence managed to recover to some degree and continued their services. As security concerns increased, the demand for additional value-added services was driven by the adoption of the work-from home model.

Market Growth Factors

Enhancement in Software and Business Processes

Industries have seen an increase of efficiency due to automation and other techniques such as lean manufacturing. The same can be said for business software. Automation allows employees to focus on more important tasks while automating routine tasks. Organisations can also remove slow or inexact tasks from their workflow. With the help of process mapping tools, enterprises can identify problems early on and find solutions.

Increased Use of Customer Relationship Management Software and Big Data Analytics

CRM oversees the management of a company’s relationship with its customers more precisely. CRM includes features like contact management, sales force automation and marketing automation that help companies increase customer satisfaction as well as sales. As big data analytics tools become more popular, businesses are turning to them to find solutions. These tools can help you make better business decisions because they give valuable insight into customer behavior and market trends.

Market Restraining factors

Software has a high adoption and implementation cost.

Enterprise software requires a lot of time, capital, and skills. The implementation of enterprise software is expensive because of the time it takes to plan, install, configure, and train. An organization might also require new network equipment, hardware, or security software installations. This can increase the cost. Additional costs will be incurred for employees as well as maintenance.

Type Outlook

The Enterprise Software Market can be divided by type into Customer relationship management and Business intelligence, Content management and Enterprise resource planning. In 2021, the enterprise software market saw a substantial revenue share for supply chain management. A supply chain makes finished products from raw materials, which are then delivered to customers. It is a complex network of organizations and activities that includes manufacturers, suppliers of raw materials, distributors, customers and retailers.

Outlook for Deployment

Deployment is the key to separating the Enterprise Software Market into Cloud or On-premise. The largest revenue share in enterprise software market 2021 was taken by the on-premise sector. This is due to their ability to provide consistent services without the need for an internet connection and to increase data security. On-premise software allows multiple users to access the system at their own pace without slowing down data transmission. On-premise software gives organizations more control and data security.

Enterprise Size Outlook

Based on the Enterprise Size, the Enterprise Software Market is bifurcated into Large Enterprises and Small & Medium Enterprises. In 2021, the largest revenue share of the enterprise software market was earned by the large-enterprise segment. Enterprise software oversees business operations such as marketing, talent management and sales. It also manages large enterprise production. Enterprise software is used to automate business processes and reduce worker costs.

Outlook for End-of-Use

On the basis of End-use, the Enterprise Software Market is categorized into BFSI, Government & Education, Healthcare, IT & Telecom, Manufacturing, Retail, Transportation, and Others. The government & education segment recorded a remarkable revenue share in the enterprise software market in 2021. There is growth in the government & education sector due to the need for automizing management to carry out business processes. These solutions are also more in demand due to the development of administrative modules.

Regional Outlook

The Enterprise Software Market is divided into four regions: North America (Europe, Asia Pacific), Europe (Asia Pacific), and LAMEA. The largest revenue share in the global enterprise software market in 2021 was held by North America. This is due to cloud-based enterprise software solutions’ low maintenance and high efficiency. As digitalization became a priority for their businesses, end-user companies increased their investments. To increase their market revenues, technology providers and industry players form strategic partnerships.

Acquisitions are the most popular strategy followed by market players. According to the Cardinal matrix analysis, Microsoft Corporation is the leader in Enterprise Software Market. Enterprise Software Market leaders include Oracle Corporation and SAP SE.

Market research reports provide an analysis of key market stakeholders. The report profiles key companies such as IBM Corporation, Microsoft Corporation, Oracle Corporation, Salesforce.com, Inc., SAP SE, Broadcom Inc., Broadcom Inc. (CA Technologies, Inc.), Hewlett Packard Enterprise Company, Zoho Corporation Pvt. Ltd., Epicor Software Corporations, and SYSPRO.

Recent Strategies in Enterprise Software Market

Partnership, Collaboration, and Agreement

July 2022: Microsoft extended its partnership to Sage, a leader in accounting, finance, HR, and payroll technology. With this Partnership, the company aims to bring together Sage’s financial expertise with the Microsoft Cloud to deliver reliable, secure, and scalable solutions that would empower SMBs around the world to be more effective, lower costs, and expand their businesses.

May-2022: IBM Joined hands with Amazon Web Services, Inc., an Amazon subsidiary that provides on-demand cloud computing platforms, to provide a wide range of its software catalog as Software-as-a-Service (SaaS) on AWS. The company’s collaboration allows organizations to choose the hybrid cloud model best suited to their workloads and needs, allowing them to focus on solving business challenges.

May-2022: Oracle formed a partnership with Informatica, an enterprise cloud data management leader, to bring Informatica’s data integration and governance products to Oracle Cloud Infrastructure. Customers would benefit from this partnership to improve their data science and analytics.

May 20, 22: SAP SE and Accenture, a consulting and information technology services company, teamed up. The collaboration was intended to assist large companies in moving to cloud computing and to deliver continuous innovation. Accenture integrated RISE with SAP, and SOAR with Accenture. This cloud-based solution supports intelligent and sustainable enterprises.

Mar-2022: SYSPRO partnered ZAP, a leader SaaS in data management and analytics. Through this partnership, the companies aimed to deliver consumers an improved Business Intelligence solution, promoting SYSPRO ERP’s robust data and analytics reporting abilities. A partnership would provide distribution and manufacturing companies with an innovative platform that provides new ways to strategically act on data.

Mar-2022: IBM and Flexera, an IT management company, teamed up to assist businesses in using automation to improve IT asset management. IBM partnered with Flexera to expand its automation platform to provide complex business automation capabilities for organizations.

February 2022: IBM and SAP, a company that develops enterprise-level software, joined forces to provide technology and consulting expertise for clients and make their hybrid cloud process more efficient. The company also aimed to move mission-critical workloads out of SAP solutions to the cloud.

Jan-2022: Oracle extended its partnership to Syntax, a provider enterprise cloud solutions for ERP apps, in order to assist on-premise Oracle E-Business Suite users to move to Oracle Cloud Infrastructure or extend their deployments. This partnership was created to increase the company’s customer base and attract new customers.

July 2021: Microsoft has extended its partnership with NEC Corporation. NEC Corporation is a global leader in IT and network integration. Through this collaboration, the company aims to support public and private sector customers for cloud adoption and digital transformation by integrating Azure and Microsoft 365 with NEC’s services.

April 2021: Broadcom Inc. joined forces with Google Cloud, which is a platform that offers cloud computing services. This Collaboration aimed to provide secure access cloud applications for enterprises and deliver continuous compliance, enhanced performance and security through cloud services integration within Broadcom’s core software franchises.

February 2021: IBM and Palantir Technologies formed a partnership. Palantir Technologies is a software company that specializes in big-data analytics. This partnership was intended to help companies put AI to work and make their operations data-driven.

February 20, 2121: IBM Red Hat, an IBM subsidiary, joined hands with Siemens Technology Company to provide a flexible, secure and open solution for plant managers and manufacturers to derive real-time value using operational data. This collaboration will allow enterprises to have complete control and autonomy over data from the shop floor.

Jan-2021: Salesforce extended its partnership agreement with Accenture (an information technology (IT), services and consulting company). The partnership allows the company to more easily help customers drive sustainability programs that benefit all parties and create business value. Accenture will also integrate Salesforce Sustainability Cloud in their business strategies, operating models and technologies. Accenture will also help customers to meet industry-specific needs. This will allow them to create sustainability insights that scale across their organizations and ecosystems.

Nov-2020: Zoho entered into a partnership agreement with Tata Consultancy Services (an information technology services and consulting firm). This partnership was created to help the company expand its reach in different countries, providing IT Service Management, Customer Relationship Management and e-Commerce solutions for large business problems.

Launch of a Product and Product Expansion

Nov-2022: IBM has unveiled Business Analytics Enterprise suite. This suite is designed to assist enterprises in breaking down data silos and making data-driven decisions quickly. It also helps them to navigate unexpected disruptions. IBM Business Analytics Enterprise offers a range of business intelligence tools, including reporting, budgeting forecasting, planning and dashboard capabilities. It provides users with a complete view of data sources. The launch further builds on IBM’s strategy to provide companies with solutions to support data-driven decision-making.

May 2022: SYSPRO announced a Cloud ERP as a deployment option for Australian manufacturers and distributors. Cloud ERP was created to give major industries and supply firms the flexibility to address changing market requirements and solve ongoing supply chain issues. SYSPRO Cloud ERP offers manufacturers and distributors all the benefits of an ERP system in the cloud, accessible via a user interface.

April 2021: IBM expanded its storage portfolio with updates to its Elastic Storage System. The ESS 5000, ESS 3200 and ESS 5000 models are easily deployable and can be scaled. The ESS 5000 model has more storage capacity, while the new ESS 3200 model offers twice the read performance.

Oct-2020: SAP SE announced the SAP Customer Data Platform, a next generation customer data platform (CDP). This launch was intended to help organizations redefine customer experiences across all engagements, including commerce, marketing, sales, and service. Further, this will improve the effectiveness of SAP’s engagement through real-time data management, while ensuring that the company is handling the data in a compliant and respectful way.

Acquisition and Mergers

July 2022: IBM acquired Databand.ai (a leader in data observability software). IBM’s acquisition of Databand.ai expands its software offering across AI, data, automation and management to support the entire observability process.

Jun-2022: Epicor purchased Data Interchange, a UK-based provider for Electronic Data Interchange (EDI), cloud technologies. The acquisition would expand the reach of the company in European markets and add to the company’s portfolio of B2B integration technologies.

May 20, 22: Broadcom Inc. has entered into an agreement with VMware, Inc., a leader in enterprise software. The company’s goal was to offer enterprise customers a wider range and more efficient infrastructure solutions. This acquisition combines the Broadcom Software portfolio with VMware, allowing them to manage their most complex information technology infrastructure issues.

Mar-2022: Microsoft acquired Nuance Communications Inc., an industry leader in ambient intelligence (and conversational AI), by Microsoft. This acquisition was made to assist healthcare providers in providing affordable, accessible and cost-effective care. The company also wanted to support customers with better experiences.

Mar-2022: SAP SE purchased Taulia, the leading provider of solutions for working capital management. Through this acquisition, the company integrates Taulia’s solutions into SAP software for strengthening its solutions for the CFO office.

Dec-2021: Cerner Corporation was acquired by Oracle Corporation. Cerner Corporation is a provider of hardware, health information technology services and devices. The acquisition would grow the revenue of the company as it expands Cerner’s business into many countries.

Oct-2021: Microsoft bought Clear Software, a provider iPaaS (information processing and application services) and other business process solutions. This acquisition would strengthen Microsoft Power Platform’s integration with the outside system and help customers leverage data and processes that reside beyond Microsoft’s first-party services.

Sep-2021: Zerto was purchased by Hewlett Packard Enterprise, a market leader in cloud protection and data management. This acquisition extended HPE’s data management and disaster recovery abilities which help customers manage and protect their data from the edge to cloud.

Jul-2021: IBM bought Bluetab, a company providing data and hybrid-cloud consulting services. This acquisition will enable the company to increase its data and hybrid cloud consulting services in Latin America as well as Europe.

Jul-2021: Salesforce acquired Slack Technologies, Inc., an international Canadian software company. This acquisition was made to create a single platform to allow other companies to connect to their customers, employees and partners.

Jun-2021: Hewlett Packard Enterprise announced its acquisition of Determined AI. This San Francisco-based startup provides a powerful and robust software system. Through this acquisition, the company aimed at providing faster and more accurate insights from its data by combining Determined AI’s software solution with its AI and high-performance computing (HPC).

Jun-2021: IBM acquired Turbonomic, an resource-simulation company. This acquisition was made to make IBM an AI-powered automation platform that is all-inclusive. It also included Turbonomic.

Jan-2021: SAP SE announced a deal to acquire Signavio. Signavio is a pioneer in enterprise business process intelligence, process management and other related areas. With this acquisition, the company integrated Signavio with the Business Process Intelligence unit of SAP to strengthen SAP’s capacity to assist companies in quickly understanding, transforming, enhancing, and managing their business processes at scale.

Dec-2020: IBM has completed the acquisition Of Instana, an enterprise observability and application performance monitoring platform. The company now focuses on offering AI-powered automation capabilities that are industry-leading to manage the complexity of modern hybrid cloud applications.

June 2020: Microsoft Corporation acquired DRM Software, a leader in large-scale industry data modeling. These models are used by large corporations worldwide to create information blueprints. The company’s acquisition aims to lower customer risk and accelerate digital progress. It integrates industry models from ADRM with unlimited storage and computing from Azure.

Nov-2019: Broadcom Inc. acquired Symantec Corporation’s Enterprise Security business. Broadcom will now make Symantec Enterprise part of its critical infrastructure software business.

Geographical Expansions

Mar-2022: SAP SE opened SAP Labs, expanding its footprint in Singapore. This expansion was done to improve the engineering infrastructure in Singapore and provide sustainable solutions for companies in the region.

Scope of the Study

The Report covers Market Segments:

By Deployment

• On-premise

• Cloud

Sort by Type

• Customer Relationship Management

• Business Intelligence

• Content Management

• Supply Chain Management

• Enterprise Resource Planning (ERP)

• Human Resource Management

• Others

By Enterprise Size

• Large Enterprises

• Small & Medium Enterprises

End-use

• IT & Telecom

• Manufacturing

• Healthcare

• Retail

• Government & Education

• BFSI

• Others

Geography

• North America

o US

Canada

Mexico

o The Rest of North America

• Europe

Germany

UK

France

Russia

Spain

o Italy

o Rest Of Europe

• Asia Pacific

China

Japan

India

South Korea

o Singapore

Malaysia

o Rest Asia Pacific

• LAMEA

o Brazil

Argentina

UAE

o Saudi Arabia

South Africa

o Nigeria

o Other LAMEA

Companies Profiled

• IBM Corporation

• Microsoft Corporation

• Oracle Corporation

• Salesforce.com, Inc.

• SAP SE

• Broadcom Inc. (CA Technologies, Inc.)

• Hewlett Packard Enterprise Company

• Zoho Corporation Pvt. Ltd.

• Epicor Software Corporation

• SYSPRO

Unique Offerings

• Exhaustive coverage

• Highest number of market tables and figures

• Subscription based model available

• Guaranteed best price

• Assured post sales research support with 10% customization free
The full report is available here: https://www.reportlinker.com/p06374126/?utm_source=GNW

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