Enterprise Search Industry Overview
The global enterprise search market is expected to reach USD 8.90 billion by 2024, according to a new study by Grand View Research, Inc. The increasing demand for solutions offering time-saving data search capabilities is expected to be a key factor driving the market growth over the next eight years. The growing need to efficiently supervise large volumes of data in an organization in order to improve the operational efficiency is propelling the adoption of enterprise search solutions. These solutions offer an enhanced security layer, allowing access to information only for the authorized personnel. This is also promoting the market growth over the forecast period. The increasing demand for several value-added services, along with the search capabilities, is encouraging the adoption of enterprise search solutions in the organization with large changes in operational practices.
The demand for relevant information and the emergence of technologies such as Software as a Service (SAAS) and cloud computing are further expected to favor the enterprise search market growth over the forecast period. The low maintenance and installation costs along with the elimination of technical support staff associated with these technologies are expected to fuel the enterprise search market growth. Data ambiguity and high implementation cost may act as a restraint to the market.
Enterprise Search Market Segmentation
Grand View Research has segmented the global enterprise search market on the basis of end-use, enterprise size, and region:
Based on the End-Use Insights, the market is segmented into Government & Commercial Offices, Banking & Financial Services, Healthcare, Retail and Others.
- Banking & finance is expected to remain a sizable end-use segment in the global enterprise search market over the next eight years.
- Interconnectivity and sharing of data in different outlets is a primary growth factor for the segment.
- The government and commercial offices are expected to grow at a considerable rate owing to the increasing use of intranet in order to share data and information over the forecast period.
- In the healthcare and medical segments, enterprise search tool solutions can be used to obtain critical treatment information, enabling the fast and efficient functionality of medical institutes.
Based on the Enterprise Size Insights, the market is segmented into Small Enterprises, Medium Enterprises and Large Enterprises.
- The large enterprises end-use segment is expected to dominate the market over the next eight years.
- This can be credited to the increasing need to search for accurate data across a vast database extracted from different sources.
- The pay-per-use model offered by the cloud (SaaS) enterprise search solutions providers is expected to have a wide adoption across the small and medium enterprises at a rate higher than the global average over the forecast period
Enterprise Search Regional Outlook
- North America
- Europe
- Asia Pacific
- Latin America
- MEA
Key Companies Profile & Market Share Insights
The leading companies are entering into strategic collaborations in order to provide mass-market solutions as well as serve the niche markets.
Some prominent players in the Enterprise Search market include
- IBM Corp
- Coveo Corp.
- Polyspot & Sinequa Inc.
- Expert System Inc.
- HP Autonomy
- Lucidworks
- Esker Software Corp.
- Dassault Systemes Inc.
- Perceptive Software Inc.
- Marklogic Inc.
Order a free sample PDF of the Enterprise Search Market Intelligence Study, published by Grand View Research.
No comments:
Post a Comment