Enterprise Search Market Size US$ 8.78 Billion by 2027 | CAGR of 11.20%
SHERIDAN, WYOMING, UNITED STATES, February 3, 2023 /EINPresswire.com/ — Enterprise Search Market Analysis:
IMARC Group’s latest report, titled “Enterprise Search Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global enterprise search market Size reached a value of US$ 4.46 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 8.78 Billion by 2027, exhibiting a CAGR of 11.20% during 2022-2027.
Enterprise search represents a software solution wherein authorized users can retrieve content from various disparate sources. It comprises content processing, indexing, content collection, query processing, and matching. Enterprise search allows organizations to increase productivity while forming an enhanced environment for adequate decision-making. It also assists in creating a quick reference database after collecting the most frequently asked questions (FAQs) and answers for a consumer support solution. As a result, this tool finds widespread applications across several sectors, such as commercial, healthcare, retail, government, media and entertainment, and banking, financial services, and insurance (BFSI).
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Enterprise Search Market Growth:
The escalating demand for these solutions offering time-saving data tracking capabilities in various organizations across the globe and the rising need for supervising large volumes of information in businesses to improve the operational efficiency are among the primary factors driving the enterprise search market. Besides this, the elevating requirement for this tool in small and medium enterprises, owing to the emerging trend of cloud computing and Software as a Service (SaaS), is further augmenting the market. Moreover, the growing popularity of enterprise search, on account of the various benefits offered, such as low maintenance, reduced installation cost, and minimum technical support, is also catalyzing the global market. Apart from this, several technological advancements and the inflating usage of value-added services in various companies are acting as significant growth-inducing factors. Furthermore, the extensive utilization of text analytics techniques and artificial intelligence (AI) technologies in businesses across the globe is expected to bolster the enterprise search market in the coming years.
Competitive Landscape with Key Players:
The competitive landscape of the industry has also been examined along with the profiles of the key players being
• Attivio (ServiceNow)
• Coveo Solutions Inc
• Dassault Systèmes
• Google LLC
• International Business Machines Corporation
• Lucidworks
• MarkLogic Corporation
• Oracle Corporation
• SAP SE
• Sinequa
• X1 Technologies Inc
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Key Market Segmentation:
Breakup by Enterprise Size
• Small Enterprises
• Medium Enterprises
• Large Enterprises
Breakup by End User:
• Banking and Financial Services
• Healthcare
• Retail
• Government and Commercial Offices
• Media and Entertainment
• Others
Breakup by Region:
• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key Highlights of the Report:
• Market Performance (2016-2021)
• Market Outlook (2022-2027)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape
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