Global Enterprise Search Market Research Report 2019-2024 —
The increasing demand for time-saving data search solutions is expected to be the key growth factor for the Global Enterprise Search Market. The increasing data volumes sourced from different gateways in the Search Appliances has created a need for managing it. Enterprise search solutions help in organizing and managing this data, due to which these solutions have found a large adoption in the Search Appliances. Enterprise search solutions enable the availability of required data or information to the user from a pool of databases, emails, intranet, data management systems, and so on. It saves the operation time and money for the enterprise by efficiently managing information and searching for required information without any hassles. Additionally, it offers a security layer by allowing only authorized personnel to access information.
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.
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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.
Technological advancements and the emergence of cloud computing and Software as a Service (SaaS) are driving the adoption of hosted enterprise search solutions in the small and medium enterprises. Added benefits offered by these solutions, including low maintenance and reduced installation cost, along with minimum technical support, are positively impacting the market growth. The trend is likely to continue in the near future as well. However, the availability of the open source free enterprise search solution may pose a challenge to companies operating in the market.
Banking and financial services are expected to be a high-growth segment; in 2016, it accounted for over 33% of the enterprise search market. Data sharing and interconnectivity are expected to be the key factors driving growth across this segment.
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.
North America emerged as a market leader in terms of market revenue and accounted for over 35% of the global enterprise search market in 2015. Technological advancements along with the presence of the key market players have contributed to the regional market growth.
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This study considers the Enterprise Search value generated from the sales of the following segments:
Segmentation by Product Type: Breakdown data from 2014 to 2019 and forecast to 2024.
• Local Installations
• Hosted Versions
Segmentation by Application: Breakdown data from 2014 to 2019 and forecast to 2024.
• Banking & Financial Services
The report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market. The key manufacturers covered in this Report:
• IBM Corp
• SAP AG
• Dassault Systemes
• Coveo Corp
• Marklogic Inc
• Concept Searching Limited
• Lucid Work
• Perceptive Software Inc
• X1 Technologies
• HP Autonomy
• Attivio Inc
• Expert System Inc
In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key players and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.
• To study and analyze the global Enterprise Search market size by key regions/countries, product type and application, history data from 2014 to 2018, and forecast to 2024.
• To understand the structure of Enterprise Search market by identifying its various subsegments.
• Focuses on the key global Enterprise Search players, to define, describe and analyze the value, market share, market competition landscape, SWOT analysis and development plans in next few years.
• To analyze the Enterprise Search with respect to individual growth trends, future prospects, and their contribution to the total market.
• To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
• To project the size of Enterprise Search submarkets, with respect to key regions (along with their respective key countries).
• To analyze competitive developments such as expansions, agreements, new product launches and acquisitions in the market.
• To strategically profile the key players and comprehensively analyze their growth strategies.
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