According to a new market report published by Transparency Market Research “Enterprise Search (Government and commercial offices, Banking and financial services, Retail, Healthcare, and Others) Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019,” the global enterprise search market was worth USD 1,777.5 million in 2012 and is expected to reach USD 3,993.7 million by 2019, growing at a CAGR of 12.2% from 2013 to 2019. North America was the largest region for enterprise search market in 2012. Growth in this region is primarily driven by availability of advanced technologies and presence of key industry players in the region.
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The enterprise search market is driven by various factors including need to make search more relevant, availability of technologies and need for relevant information. However, multiplicity of repositories and uncertain meaning of keywords are some of the factors affecting the growth of this market.
Among the different end-users, banking and financial services segment held the largest share in 2012, accounting for 34.9% revenue share in the total market. It is expected to maintain leading position throughout the forecast period. Government and commercial offices was the second largest end-user segment in 2012 and is expected to witness strong growth during the forecast period. Increased use of intranet and communication within the organization to improve the workflow has been driving the market towards growth.
Among the different types of enterprises, the enterprise search market for large scale enterprise held the maximum market share in 2012, at 61.0%. Medium scale enterprise was the second largest segment by revenue share and is expected to witness strong growth during the forecast period.
Geographically, North America was the largest segment in 2012 and accounted for 34.2% revenue share in the global market, owing to technological advancements and presence of most of the key industry players. Asia Pacific market for enterprise search is expected to be the fastest growing regional market among all other regions, growing at a CAGR of 13.5% during the forecast period from 2013 to 2019.
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Different end-users for the enterprise search market include retail, healthcare, others (media and entertainment, aerospace and defense, and construction). Key players in the enterprise search market compete by developing a cost effective search solution and software with greater performance to gain a competitive advantage. The global enterprise search market is dominated by a few global players and regional players as well. The global market players include Microsoft Corporation, Oracle Corporation, SAP AG, IBM Corporation, Coveo Solutions Inc., Attivio Inc and others.
The global enterprise search market has been segmented as follows-
Enterprise Search Market, by End-user
- Government and commercial offices
- Banking and financial services
- Retail
- Healthcare
- Others (aerospace and defense, media and entertainment, construction)
Enterprise Search Market, by Size of Enterprise
- Large Scale Enterprise
- Medium Scale Enterprise
- Small Scale Enterprise
Enterprise Search Market, by Geography
- North America
- Europe
- Asia-Pacific
- Rest of the World
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