Enterprise Search Market Product Overview, Share by Types and Region till 2024

Posted on 2020-11-20 by researchinsights in Technology // 0 Comments

Felton, Calif., USA, Nov. 20, 2020 — /EPR Network/ —

The global 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.

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.

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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.

Enterprise Search End-Use Outlook (Revenue, USD Million, 2013 – 2024)

Government & Commercial Offices
Banking & Financial Services
Healthcare
Retail
Others

Enterprise Search Enterprise Size Outlook (Revenue, USD Million, 2013 – 2024)

Small Enterprises
Medium Enterprises
Large Enterprises

Key players in the industry include IBM Corp, Polyspot & Sinequa Inc, Coveo Corp, HP Autonomy, Lucidworks, Esker Software Corp., Perceptive Software Inc, Expert System Inc, Dassault Systemes Inc, and Marklogic Inc. Companies have been focusing on entering into a strategic collaboration in order to provide diverse market solutions and create their presence in niche markets.

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Enterprise Search Regional Outlook (Revenue, USD Million,2013 – 2024)

North America
U.S.
Canada
Mexico
Europe
UK
Germany
Asia Pacific
China
India
Japan
Latin America
Brazil
Middle East and Africa

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