According to the latest research conducted by GMI Inc., the enterprise application market share is expected to exceed beyond USD 350 billion by 2028. The increasing usage of AI in various applications is estimated to open new avenues for business expansion across the global enterprise application industry. According to reliable statistics, around 7% of enterprises in the European Union with a minimum workforce of 10 people deployed AI applications for effective operation in 2020. Additionally, the record states that around 2% of the enterprises utilized machine learning for the analysis of big data internally.

Such advancements are likely to proliferate the product demand, augmenting enterprise application market size over the forthcoming years.

The growth can be further attributed to an increase in the implementation of acquisitions, mergers, collaborations, and product development initiatives for the consolidation of industry foothold.

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Some of the leading players in the enterprise application industry include IBM Corporation, TIBCO Software Inc., Qlik Technologies, Inc., JDA Software, Inc., Fiserv, Inc., Adobe, Inc., NetSuite, Inc., Zoho Corporation, Infor, Inc., SAGE Group, Salesforce.com, Inc., and others. Given below are some of the prominent product developments that are slated to drive the industry landscape in the upcoming years:

1 AI-based supply chain management solutions

Over the recent years, several companies have been noted to introduce AI-powered solutions that help in enhancing workflow management. Citing an instance, in September 2021, IBM made it to the headlines for the launch of its Supply Chain Intelligence Suite. The product is an AI-based supply chain optimization and automation solution that helps in the optimization of operations, enhancement of agility, and the improvement of supply chain resiliency.

As claimed by the company, the solution was designed for the promotion of collaboration via the consolidation of disparate data sets for enabling actionable insights, intelligent automation, and smarter workflows.

2 Personalized customer relationship management solutions

The industry has recorded a greater inclination toward the use of personal CRM solutions across various regions. An instance of the same is Canvas. The state-of-the-art design studio was launched by Zoho Corporation for the purpose of CRM personalization. The solution enables businesses to create their own CRM interfaces that are better suited to the role of every employee, without the involvement of developer or IT.

Furthermore, it also helps in the simplification of complex CRM implementations into contextual and streamlined employee-facing experiences. An increase in similar initiatives is expected to drive the enterprise application market growth over 2022–2028.

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3 Cloud enterprise resource planning applications

The growing importance of cloud is expected to drive the demand for cloud ERP solutions over the ensuing years. Considering an instance, in September 2021, Oracle hit the headlines for the launch of its Fusion Cloud Enterprise Resource Planning (ERP) solution. The offering helps procurement, operations, and finance organizations in focusing on strategic work.

One of the features of this solution is IDR (Intelligent Document Recognition) which helps in the improvement of touchless processing and enhances the accuracy of invoice scanning.

The upcoming years are set to register an increase in the adoption of AI technologies for the purpose of making data-driven business decisions. This is further set to be accompanied by an increase in the usage of IoT devices and big data technologies. These factors are expected to augment enterprise application market share across various regions.

Partial Chapter of the Table of Content

Chapter 1 Methodology & Scope

1.1 Scope & definitions

1.2 Methodology & forecast parameters

1.3 COVID-19 impact parameters

1.3.1 North America

1.3.2 Europe

1.3.3 Asia Pacific

1.3.4 Latin America

1.3.5 Middle East & Africa

1.4 Regional trends

1.4.1 North America

1.4.2 Europe

1.4.3 Asia Pacific

1.4.4 Latin America

1.4.5 Middle East & Africa

1.5 Impact of Russia-Ukraine crisis

1.6 Data Sources

1.6.1 Secondary

1.6.2 Primary

1.7 Industry glossary

Chapter 2 Executive Summary

2.1 Enterprise application market 360º synopsis, 2018–2028

2.1.1 Business trends

2.1.2 Regional trends

2.1.3 Product trends

2.1.4 Deployment model trends

2.1.5 Industry vertical trends

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