The technology is becoming increasingly popular across BFSI industry. It assists in efficiently managing the information access, adherence to security policies, overcome human constraints and optimizes time-cost by saving HR efforts. The study highlights key benefits that add competitive value to companies and facilitates effective business planning.
The market is driven by factors such as sophistication of artificial intelligence software and converging robotics technology with mobile technologies. The market faces limitations due to time-consuming activities such as R&D, manufacturing and marketing. Better growth opportunities are perceived due to comparatively untapped markets in African countries and increasing defense spending, worldwide.
Enterprise Search Market by Application
As per applications, market is classified into BFSI, government, commercial, healthcare, media & entertainment, retail and others. Among all applications, BFSI is commonly used and expected to drive the market in future. Banks need enterprise search solutions in order to provide core banking solutions and internet banking to customers.
Enterprise Search Market by Geography
From the geographical perspectives, the market is categorized into regions such as North America, Asia-Pacific, Europe and rest of the world (RoW). North American region is driving the market with largest share due to early adoption of the technology. In future, Europe is expected to experience higher growth due to entry of multiple American players in the European countries.
Competitive Landscape
Companies are adopting product launch strategies with innovations. For example, Coveo Solutions upgraded search engine for Sitecore websites. Some of the market players are Microsoft Corporation, Attivio Inc., IBM Corporation, Oracle Corporation, Coveo Solutions, Inc., SAP AG, Lucid Work, Inc., EMC Corporations, X1 Technologies and Mark Logic Corporation.
High Level Analysis
The bargaining power of customers is moderate due to entry of multiple companies in the market and high switch-over cost. Degree of intersegment rivalry is expected to rise higher as numerous players are present in the market and many other players are expected to step in. Threat of substitutes is low/moderate.
KEY BENEFITS
Competitive advantages realized from the enterprise search technology are elaborated in business context to convey market potential to stakeholders
Segment-wise analysis with additional emphasis on responsible growth factors and opportunities for each segment facilitates companies in identifying their market targets
Porter’s five forces analysis assists new entrants to understand threats in the market. Value chain analysis and SWOT analysis explained in study illuminates market’s ecosystem.
Market trends and opportunities are elaborated and substantiated with forecast for period 2014-20. This, along with top winning strategies, guides companies for effective strategy formulation
ENTERPRISE SEARCH MARKET KEY DELIVERABLES
The global enterprise search market is classified according to applications and geography.
Market by Applications
BFSI
Government
Commercial
Healthcare
Retail
Media and Entertainment
Others
Market by Geography
North America (NA)
Europe (EU)
Asia-Pacific (APAC)
Rest of the World (RoW)
View Also :
Enterprise Application Market - Opportunities and Forecasts, 2013 - 2020
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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