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Enterprise Search Market

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Enterprise Search Market - Growing Use Of Intranet And Communication Tools Within
Organizations To Improve Workflow
According to a recent market study published by Transparency Market Research (TMR), titled
“Enterprise Search Market – Global Industry Analysis, Size, Share, Growth, Trends and
Forecast 2013 – 2019”, the global enterprise search market is expected to reach US$3,993.7
million by 2019, increasing from US$1,777.5 million in 2012 and expanding at a 12.2% CAGR
from 2013 to 2019. Enterprise search system makes content from databases, intranets, data
management systems, email, and other sources searchable. Such systems enhance the
productivity and efficiency of business processes and can save as much as 30% of the time
spent by employees searching information.The need to obtain relevant information quickly and
the availability of technological applications to obtain it are the main factors set to drive the
global enterprise search market.
However, uncertain meaning of keywords, having multiple data repositories, and tools such as
customized internet search are some factors that inhibit market growth. Among the several end
users, the banking and financial services segment held the largest market share, accounting for
34.9% of the enterprise search market’s revenue in 2012. Secure and effective data sharing
through intranet between different branches and offices of financial institutions is leading to
market growth. For instance, Recommind Inc., a leading information management, enterprise
search, and email management solution provider firm, has provided customized solutions to
several leading investment banks in the world. Government and commercial offices was
registered as the second largest end-use segment in 2012 and will exhibit strong growth in the
near future. Growing use of intranet and communication tools within organizations to improve
workflow and improve the efficiency has driven demand from this end-use segment of the
global enterprise search market
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In terms of enterprise size, the enterprise search market is segmented into large scale, medium
scale, and small scale. Large scale enterprise accounted as the largest segment, holding a 61.0%
market share in 2012. However, owing to increase in medium size businesses, the medium scale
enterprise segment will exhibit the fastest growth during the forecast period. On the basis of
geographical distribution, the global enterprise search market is divided into four regions,
namely North America, Asia Pacific, Europe, and Rest of the World (RoW). Among the regional
markets, North America dominated the market in 2012, accounting for a 34.2% revenue share.
Technological advancements across industry sectors and the presence of major enterprise
search industry players in the region have augmented growth of the North America enterprise
search market.dditionally, increasing use of enterprise search and other enterprise tools across
industries in high opportunity markets such as Germany and Canada has been a major driving
force. To capitalize on opportunities present in the European regional markets, major market
players in the U.S. are tying up with European vendors to provide enterprise search
solutions.Asia Pacific is expected to be the fastest growing regional enterprise search market,
growing at a 13.5% CAGR from 2013 to 2019.
Author
monali raghu
monali raghu349   documents Email
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