June 24, 2019: The global enterprise search market is expected to reach USD 5.02 billion by 2020. Increasing demand for solutions offering time-saving data search capabilities is expected to be a key factor driving market growth over the next six years. The need to manage large volumes of data efficiently in an organization so as to improve operational efficiency of an enterprise is also expected to propel the market through the forecast period. These solutions offer enhanced security layer that allows information access to only authorized personnel, which is also expected to fuel the enterprise search market over the forecast period. Increasing demand for several value-added services along with search capabilities due to changes in operational practices within organizations provide avenues for market growth.
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Technological advancement, and emergence of cloud computing and Software as a Service (SaaS) is expected to drive market growth. Furthermore, these solutions offer several benefits such as low maintenance and installation cost along with minimum technical support, which is also expected to positively impact the market over the next few years. However, availability of online search engines may pose a challenge to companies operating in the market.
Further key findings from the study suggest:
Banking and financial services is expected to be a high growth segment; in 2013, it accounted for over 30% of the enterprise search market. Data sharing and interconnectivity are expected to be the key factors driving growth across this segment.
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The large enterprises segment is expected to dominate the market over the next six years, which can be credited to the need to search accurate data across a vast database. Small and medium enterprises are expected to grow at a rate higher than the global average over the forecast period.
North America emerged as the leading regional segment, it accounted for over 35% of the global enterprise search market in 2013. Technological advancements along with the presence of key industry players contributed to regional market growth.
Key industry participants include Coveo Corp., IBM Corp., SAP AG, Oracle, Microsoft, Dassault Systemes, etc. Strategic collaborations in order to provide mass market solutions while serving niche markets remains to be a major strategic initiative.
For the purpose of this study, Grand View Research has segmented the global enterprise search market on the basis of end-use, enterprise size and region:
Enterprise Search End-Use Outlook (Revenue, USD Million, 2012 - 2020)
- Government & Commercial Offices
- Banking & Financial Services
- Healthcare
- Retail
- Others
Enterprise Search Enterprise Size Outlook (Revenue, USD Million, 2012 - 2020)
- Small Enterprises
- Medium Enterprises
- Large Enterprises
Enterprise Search Regional Outlook (Revenue, USD Million, 2012 - 2020)
- North America
- Europe
- Asia Pacific
- RoW
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The Enterprise Search Market 2021 research report gives emerging industry data, global segments and regional outlook.
The report generated using various analysis tools like porter’s five forces model, market attractiveness and value chain.
The report gives comprehensive review of the global market helping to club revenue generation and profitable business to transform client’s success.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the enterprise search market include Attivio, Dassault Systemes Inc., Dieselpoint Inc., Microsoft Corporations, Google, Expert System Inc., IBM, HP Autonomy, Oracle, Coveo Solutions, SAP, EMC Corporation.
This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Enterprise Search Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/enterprise-search-market/download-sampleMarket DynamicsThe rising demand for time-saving data search systems and solutions is expected to be the prime growth factor for the enterprise search market.
The rising data volumes sourced from varied gateways in the large enterprises have generated a need for managing and organizing it, which is creating its demand in the coming years.
