Enterprise Software Market Size, Share & Trends Analysis Report By Deployment (On-premise, Cloud), By Software (ERP, CRM), By Enterprise Size (Large, SME), By End-use (BFSI, Healthcare), By Region, And Segment Forecasts, 2023 - 2030

Enterprise Software Market Size, Share & Trends Analysis Report By Deployment (On-premise, Cloud), By Software (ERP, CRM), By Enterprise Size (Large, SME), By End-use (BFSI, Healthcare), By Region, And Segment Forecasts, 2023 - 2030

Enterprise Software Market Growth & Trends

The global enterprise software market size is expected to reach USD 517.26 billion by 2030, growing at a CAGR of 11.5%, according to a new study conducted by Grand View Research, Inc. The significant market growth can be attributed to the shifting focus of various end-use organizations on digitalizing their business operations, high demand for data-driven decision-making tools, and increasing adoption of cloud computing & data analytics technologies. With enterprise software, organizations are automating various daily tedious tasks, improving their marketing & sales divisions to increase client conversion rates, and modifying business processes to meet the evolving market needs. Due to this, the demand for enterprise software is expected to increase notably in the forecast period.

The growing number of e-commerce companies and the preference of various companies for enhancing their digital channel interfaces to improve consumer experience will drive market growth in the retail sector. The industry players are strengthening their retail technology solution portfolio to bring innovations in retail-specific enterprise software. For instance, in August 2020, enterprise software provider, Aptean, acquired the product lifecycle management division of retail technology solution company, Aptos. This acquisition helped Aptean expand its cloud-based enterprise software offerings for fashion, luxury, and other retail industries. In April 2022, Software AG acquired software services provider, StreamSets for an undisclosed amount. The acquisition enabled Software AG to manage its client’s data transfer between cloud data platforms, on-premise applications, and other legacy data stores.

Growing demand for enterprise software is encouraging startups to enter this potential industry. Many startups are focusing on offering enterprise software at reasonable costs and raising funds to improve their global networks and consumer base. For instance, in March 2022, Locofy.ai, an enterprise software provider, raised USD 3 million in a funding round organized by various investing firms, such as Boldcap, Golden Gate Ventures, Accel, and January Capital. The company will utilize this funding to expand its software development team and R&D capabilities. In July 2022, ElevateHQ, a Business-to-Business (B2B) software provider, raised USD 1.1 million in a funding round of a financial company, Leo Capital. Such initiatives by startups will create a positive outlook for the market in the coming years.

Enterprise Software Market Report Highlights

• The Customer Relationship Management (CRM) software segment is anticipated to reach USD 157.55 billion by 2030 growing at a CAGR of 13.3% from 2023 to 2030. Increasing government-supportive initiatives for digital technologies and the high usage of CRM tools for streamlining business processes for effective resource utilization is expected to fuel segment growth
• The cloud deployment segment is estimated to register a CAGR of 13.6% from 2023 to 2030 owing to advancements in cloud technologies and reasonable subscription plans introduced by market players. The Cloud-based enterprise software offers better working flexibility, a creative user interface, and low operating costs, supporting the market trend
• The Small & Medium Enterprise (SMEs) segment is expected to grow at a CAGR of 13.2% from 2023 to 2030. SMEs are notably adopting enterprise software to reduce their maintenance & inventory costs and improve their workflow capability for better internal collaborations
• The healthcare segment is anticipated to grow at a CAGR of 13.6% from 2023 to 2030. Intense competition between pharmaceutical equipment firms, rising focus on improving remote medical treatment ecosystem, and high growth in pediatric & geriatric populations are creating a favorable environment for enterprise software in the healthcare sector
• Asia Pacific is expected to register a CAGR of 13.4% over the forecast period owing to the significant penetration by global market players, remarkable technological advancements in the software industry, and emerging startups in various countries, such as India, Singapore, Australia, Japan, and Thailand
• Key industry players have an extended operating history, a large customer base, and significant competitive strengths. In addition to the inorganic growth strategies, vendors emphasize improving after-sale service offerings to ensure periodic maintenance of installed products

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