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., registering a 7.8% CAGR during the forecast period. Increasing need among organizations for single data access point is anticipated to drive industry growth over the forecast period.
Implementation of enterprise application solutions enables real-time data and information flow along with level running of business process. Use of these solutions enables better customer engagement, inventory management, quality management, and supply chain management. Increasing IT budgets of companies is expected to favor industry growth over the next few years. However, availability of open source solutions and high maintenance costs may hinder industry growth.
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Key Takeaways from the report:
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Grand View Research has segmented the enterprise application market report on the basis of product, end use, deployment, and region:
Enterprise Application Product Outlook (Revenue, USD Billion, 2012 – 2022)
Enterprise Application End-use Outlook (Revenue, USD Billion, 2012 – 2022)
Enterprise Application Deployment Outlook (Revenue, USD Billion, 2012 – 2022)
Enterprise Application Regional Outlook (Revenue, USD Billion, 2012 – 2022)
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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