Grand View Research has just published a report called “Enterprise Application Market Analysis by Product (System, Tags) and Segment Forecasts to 2022” in which the research firm claims that the Enterprise Application Market will be worth $259.51 billion by 2022.
There’s literally an endless list of reasons that a business would want to bring new enterprise applications into its ecosystem. Grand View believes that enterprise apps will be used to enable real time data and information combined with native business processes.
The end result will be greater customer engagement, improvements in quality management and an innovative way to keep track of your inventory. These enterprise apps will likely be integrated into a supply chain solution, which can automate much of the ordering and reordering of products.
Grand View believes that IT budgets will increase over the next 7 years, with much of that money being used for industry growth.
Unfortunately, Grand View believes that open source solutions will be on the down tick. The research firm mentions that the high cost of maintenance on open source enterprise apps could serve as a barrier to growth over the next 7 years.
Grand View goes on to list several important trends in their report. Some of the ones that stood out to us are listed in the following bullet points:
- Content Management Systems are expected to out pace industry growth. CMS adoption will rise by a 13% CAGR by 2022.
- Grand View Research sees an increasing need for real time data transparency in the health care sector.
- Out of all the regions, North America will experience the biggest boom in Enterprise Applications, many of which will be cloud based.
The report goes on to name the top vendors of Enterprise Application technology as being HP, Oracle, IBM, SAP, Infor and others.
To read the report in its entirety, visit the Grand View Research website for more information.