Lionel Sujay Vailshery
Research expert covering the consumer electronics industry
Get in touch with us nowMarket segments
Worldwide IT spending on enterprise software had been growing steadily and rapidly before the COVID-19 pandemic hit in 2020, which resulted in a slight decline. However, the software market grew to 615 billion U.S. dollars in 2021 and is forecast to reach about 675 billion U.S. dollars in 2022. Some of the larger sub-markets within the enterprise software market include the enterprise resource planning (ERP) software market, the customer relationship management (CRM) software market, and the content management software application market. Of these sub-markets, the ERP software market is currently the largest and is anticipated to reach over 97 billion U.S. dollars by the end of 2022. The ERP software market includes specific business process management software that allows businesses to integrate various aspects of operations within one database, application, and user interface.Enterprise software consumption
Since the various segments of enterprise software are used to satisfy an array of business needs, it is crucial to understand the upcoming business-to-business (B2B) technology buying trends. With this in mind, web and video conferencing and online collaboration are the top two areas in which increased spending is anticipated during 2022, largely due to the remote working practices which continued in2021 in many areas of the world as a result of the persisting pandemic. Additionally, companies are tending to upgrade or reimplement their enterprise resource planning (ERP) system selections, which many companies use to manage and integrate their main business processes. However, these ERP implementation projects tend to overrun costs in some capacity, limiting the financials of those companies. Nonetheless, global organizations tend to be satisfied with their ERP vendors.Major players in enterprise software
Amongst the largest companies in this enterprise software and programming field there are Microsoft, Oracle, SAP, IBM, and Salesforce. As a cloud-native software company, Salesforce continues to gain traction as a major player in the field. The company now maintains the largest vendor share of the customer relationship management (CRM) applications market as well as the Salesforce productivity and management application market worldwide.
