Enterprise Software Market (By Software: Customer Relationship Management Software, Content Management Software, Enterprise Resource Planning Software, Supply Chain Management Software, Business Intelligence Software; By Deployment: Cloud, On-premise; By Enterprise Size: Small & Medium Enterprise, Large Enterprise; By End-use: Healthcare, BFSI, Government & Education, IT & Telecom, Manufacturing, Retail) - Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2023-2032

The global enterprise software market size was exhibited at USD 201.09 billion in 2022 and is projected to hit around USD 610.75 billion by 2032, growing at a CAGR of 11.75% during the forecast period 2023 to 2032.

Key Pointers:

• Asia Pacific is expected to expand at the fastest CAGR of 13.81% from 2022 to 2032.
• By Software, the customer relationship management (CRM) segment has contributed more than 26.2% of the revenue share in 2022.
• By Software, the enterprise resource planning (ERP) segment is expected to expand at the highest CAGR of 10.92% between 2023 and 2032.
• By Deployment, the on-premises segment has recorded more than 51.9% of the revenue share in 2022.
• By Deployment, the cloud segment is predicted to grow at the fastest CAGR of 13.91% between 2023 and 2032.
• By Enterprise Size, the large enterprise segment has generated of about 60.51% of the revenue share in 2022.
• By Enterprise Size, the small and medium-sized enterprises (SMEs) segment is expected to expand at a remarkable CAGR of 13.73% from 2023 to 2032.
• By End-use, the I.T. and telecom segment has accounted more than 22.9% of the revenue share in 2022.
• By End-use, the healthcare segment is expected to expand at the biggest CAGR of 14.1% from 2023 to 2032.

Enterprise Software Market Report Scope

The growth can be attributed to increasing end-use enterprises' expenditure on improving their digital infrastructure and advancements in cloud analytical tools. Furthermore, enterprise software offers the analysis of unstructured and structured data, which assists companies in identifying current market trends and gaining actionable insights, thus supporting industry growth. The significant spread of the COVID-19 virus in early 2020 had a negative impact on the market in the first two quarters of 2020 due to stringent safety measures enforced by the majority of governments. However, from 2020-end, enterprise software witnessed an increasing demand owing to shifting focus of the end-use companies toward digitalizing their business model to provide remote working facilities to their employees.

The advancements in the latest technologies such as Artificial Intelligence (AI), Machine Learning (ML), cybersecurity, Blockchain, cloud computing, and Robotic Process Automation (RPA) are creating robust market opportunities for enterprise software. Integrating these technologies into enterprise software improves software efficiency and adaptability, creating a positive market outlook. Key players are focusing on unveiling their enterprise software equipped with the latest technologies, such as Blockchain and AI. For instance, in March 2020, Microsoft Corporation partnered with Blockchain technology solutions company, Lition to integrate Blockchain technology into the Microsoft Azure cloud platform. The integration of Blockchain aided Microsoft Corporation clients in improving their businesses' transparency and security.

The government of various countries such as India, Japan, Germany, Australia, Canada, and Brazil is focusing on digitalizing their economy for greater work flexibility, reduction in business maintenance costs, and maximizing IT infrastructure reliability. These governments are taking supportive initiatives for digitalizing their infrastructure through significant investment in the technology and software sector. For instance, in November 2021, the Government of Australia announced an investment of USD 111 million to develop and accelerate the adoption of quantum technology and create jobs in the software industry. The government expects the development of quantum technology can give an economic value of USD 4 billion and create around 16,000 jobs by 2040 in Australia.

Increasing demand for enterprise software is encouraging industry players to invest in software research and development for new product innovation and enhance their brand value. These companies are adopting various business strategies, such as mergers and acquisitions, to improve their service offerings. For instance, in July 2022, an enterprise software company, IFS AB, expanded its software products portfolio with the acquisition of enterprise asset management (EAM) company, Ultimo Software Solutions, for an undisclosed amount. Ultimo Software Solutions' expertise in cloud-based EAM products will assist IFS AB in improving its customer bases and brand positioning.

High initial costs of enterprise software and increasing digital threats are key factors challenging industry growth. Key players need to invest in R&D to improve the efficiency and reliability of the software, thereby increasing the cost of the software. Furthermore, increasing cyber-attacks such as viruses, Distributed Denial-of-Service (DDoS), ransomware, and Corporate Account Takeover (CATO) are affecting the sales of enterprise software. To tackle these issues, the market players are partnering with various security technology providers to strengthen the security of their enterprise software. Additionally, these companies are focusing on providing customized enterprise software as per clients’ needs to reduce the initial costs of the software.

Some of the prominent players in the Enterprise Software Market include:

• Broadcom Inc. (CA Technologies, Inc.)
• Epicor Software Corporation
• Hewlett Packard Enterprise
• IBM Corporation
• Microsoft Corporation
• Corporation
• Salesforce.com, Inc.
• SAP SE
• SYSPRO
• Zoho Corporation Pvt. Ltd.

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2032. For this study, Nova one advisor, Inc. has segmented the global Enterprise Software market.

By Software

• Customer Relationship Management Software
• Content Management Software
• Enterprise Resource Planning (ERP) Software
• Supply Chain Management Software
• Business Intelligence Software
• Others (Marketing, Human Resource Management, Payment Processing)

By Deployment

• Cloud
• On-premise

By Enterprise Size

• Small & Medium Enterprise
• Large Enterprise

By End-use

• Healthcare
• BFSI
• Government & Education
• IT & Telecom
• Manufacturing
• Retail
• Others (Transportation, Hospitality, Automotive)

By Region

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa (MEA)