According to study, “Enterprise Software Market
Outlook and Forecast (By Segment, Industry Verticals, Geography, Vendors,
Recent Developments) - Global Analysis to 2024”
some of the major companies that are currently working in the enterprise
software market are Amadeus IT group, Adobe systems, Fiserv, HCL technologies,
Salesforce, VM ware, CDW, Oracle, SAP and Microsoft.
Enterprise software is computer
software used to satisfy the needs of an organization rather than individual
users. Such organizations include schools, businesses, interest-based user
groups, charities, clubs and governments. The main goal of enterprise software
is to improve enterprise productivity and efficiency through business logic
support functionality. It provides business-oriented tools such as online
payment processing and automated billing systems. It is typically hosted on
servers and provides simultaneously services to a large number of users over a
computer network.
There
are many types of enterprise software, which are; content management system
(CMS), customer relationship management (CRM), ecommerce, supply chain
management (SCM) and enterprise resource planning (ERP). CMS manages the
creation & modification of digital content and supports multiple users in a
collaborative environment. It includes web based publishing, history editing
& version control, format management, search, indexing and retrieval. CRM
covers set of applications designed to help businesses manage many of business
processes which includes customer data, employees, customer support, contracts,
track leads, support vendor / partner relationships, knowledge & training,
customer interaction and assets of resources etc. Ecommerce software enables a
business to sell products and services online. Some e-commerce enterprise
software widely used are mozu, big commerce, shopify and magento.SCM is the
software tools or modules used in executing supply chain transactions, managing
supplier relationships and controlling associated business processes. It
includes purchase order processing, customer requirement processing, inventory
management, sales & distribution, supplier management and good receipt
& warehouse management. An ERP develops the collaboration by integrating
various systems from different departments including marketing, human resources
and warehouse into one solution.
Enterprise software is used for various
applications, such as web conferencing, business intelligence, project and
portfolio management, digital content creation, enterprise resource planning,
enterprise content management, and supply chain management. It is used by
organizations of all sizes small, medium, and large various industry verticals
such as manufacturing, media and entertainment, healthcare, retail, public
sector, banking, financial services, and insurance, telecom, transportation,
energy and utilities, and distribution. The major regions comprising the global
enterprise software market are Europe, Asia Pacific, North America, and Rest of
the World.
There are many benefits of
enterprise software, such as reduced cost, saved time, improved communication,
eliminated paperwork and increased efficiency, total visibility, improved
reporting & planning, complete customization, data security, improved
collaboration & workflows, deep integration, improved data quality &
accessibility, improved SCM, facilitated regulatory compliance etc. there are
also some disadvantages of enterprise software such as direct cost, indirect
cost and customization etc.
The global enterprise software
market has reported a significant growth in recent years and is anticipated to
exceed USD 575 Billion by 2024. ERP and CRM are the leading application
segments of enterprise software market. North America is the largest enterprise
software market share during the forecast period and Europe is the second
largest enterprise software market share and is expected to witness significant
growth by 2024. It is predicted that the Eastern Europe and MEA enterprise
software market will exceed US$ 40 Billion by 2024. It is anticipated that SAP
will replace Oracle to capture the second leading spot by 2019.
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