Enterprise Search Market is anticipated to reach USD 8.90 billion by 2024. Global enterprise search demand is expected to witness a steady growth on account of increasing use of data. Enterprise is designed to make content available to the users from multiple sources including databases and intranets. Enterprise search software has structured as well as unstructured data in their collection. They form a vertical search for any enterprise.
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Market Synopsis of Enterprise Search Market:
Time-saving information and cost
efficient search solutions are the key factors driving the overall enterprise
search market. Data management has turned out to be a crucial activity as a
result of increasing data volumes. Data is made available to the user through
various databases, emails, data managements systems and intranet. Time saving
is another factor which is expected to drive the overall industry in near
future. Enterprise search solution enables quick search of information and
therefore saving operational time. This helps in increasing the productivity
and efficiency. It also adds a security layer by disallowing data access for
unauthorised users.
These applications software as a
service (SAAS) and cloud computing have provided bright prospects for overall
industry growth. Development of technology and high demand of necessary
information has favoured the market growth in recent years. High implementation
cost is a major barrier to overall industry growth. Furthermore, high costs
associated with maintenance and installation cost is expected to pull down the
market in near future. Also, lack of skilled technical support staffing has
been hindering the industrial growth in recent years. Availability of
alternatives in the form of online search engines is expected to offer
challenges in near future.
Companies in various sectors are
expected to invest in enterprise search applications. These investments come in
the form of new implementations or updates. The various verticals where these
applications are primarily expected to be implemented include banking,
financial institutions, logistics, military, telecommunications, and
healthcare, retail, energy, and government institutions. Increasing demand from
these sectors provides great opportunities which in turn are expected to propel
the overall market growth over the forecast period.
Banking and finance are
anticipated to be the most lucrative industry in near future. Data sharing and
interconnectivity is the major factor for driving the industry in the banking
sector. Government and educational institutes are expected to show great
opportunities over the forecast period on account of increasing use of intranet
for data sharing. Healthcare sector has been using this technology to obtain
information associated with critical treatment. Military, aerospace, media,
entertainment and construction are other end use industries which offer
significant prospects for enterprise search applications.
North America has been the major
market on account of computerisation. The dominance is expected to continue
with major demand from financial and government sector. High investments from
the government have led to innovative solutions for various departments.
Regional demand is followed by Asia-Pacific mainly on account of the high
presence of emerging economies including India, China, and South Korea. Large
scale implementation in the retail, banking, IT and telecommunication has
propelled the demand in this region.
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Table of Contents:-
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
Chapter 3 Enterprise Search:
Market Variables, Trends & Scope
Chapter 4 Enterprise Search:
Product Estimates & Trend Analysis
Chapter 5 Enterprise Search:
Application Estimates & Trend Analysis
Chapter 6 Enterprise Search:
End-use Estimates & Trend Analysis
Chapter 7 Enterprise Search:
Industrial End-use Estimates & Trend Analysis
Chapter 8 Enterprise Search:
Regional Estimates & Trend Analysis
Chapter 9 Competitive Landscape
Chapter 10 Enterprise Search:
Manufacturers Company Profiles
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