SAN FRANCISCO, Oct. 6, 2021 /PRNewswire/ -- The global enterprise architecture tools market size is estimated to reach USD 1.41 billion by 2028, expanding at a CAGR of 4.9% from 2021 to 2028, according to a new study by Grand View Research, Inc. Increasing importance of affiliate enterprise IT solutions and business-driven architecture methods are expected to boost the market growth. The business is being supported by the enterprise architecture tools, which add large data capabilities and save time meanwhile reducing the process time. These factors are anticipated to increase the use of enterprise architecture tools by businesses, subsequently driving the market growth globally.
Key Insights & Findings:
- The security architecture segment is expected to witness significant growth over the forecast period. The increasing number of data threats is expected to lead to the deployment of a greater number of security architectures as they include tools, technologies, and processes that are used to protect a business from external threats
- The cloud segment is anticipated to expand at the highest CAGR from 2021 to 2028. The popularity of cloud technology among cost-sensitive customers and small and medium enterprises is anticipated to boost the adoption of cloud enterprise architecture tools
- The small and medium enterprise segment is expected to register the highest CAGR from 2021 to 2028. Factors such as the growing number of providers and the demand for business-driven tools and solutions have boosted the adoption across SMEs
- The healthcare segment is anticipated to emerge as the fastest-growing end-use segment over the forecast period. Maximization of ICT advantages, integration of resources, integration of data, and reduction of unnecessary cost are the key factors driving the healthcare segment growth
- Asia Pacific is anticipated to emerge as the fastest-growing regional market over the forecast period. China, Japan, and India are the key countries characterized by the maximum deployment of architecture tools in organizations. The growing adoption of enterprise architecture tools among businesses to implement effective corporate strategies in various enterprise tasks and practices is expected to boost market growth in the Asia Pacific region
Read 120 page market research report, "Enterprise Architecture Tools Market Size, Share & Trends Analysis Report By Solution (Security Architecture, Application Architecture, Data Architecture), By Deployment, By Enterprise Size, By End Use, By Region, And Segment Forecasts, 2021 - 2028", by Grand View Research
Enterprise architecture tools offer an added advantage of aiding strategic decision-making and integrating data across industries. The growing demand for all-in-one platforms, implementation of effective business strategies, understanding of strategic architecture, and assessment of possibilities and business risks are expected to boost the demand for enterprise architecture tools. Moreover, enterprise architecture tools also help and support data integration and facilitate better IT and strategic decisions, thereby, driving the market growth globally.
Some challenges in the market growth include data theft, security of data, low availability of skilled labor, and higher costs of tools, which are projected to hamper the market growth. In recent years, data thefts have increased, and the average cost of a data breach was estimated to be around USD 3.92 million in 2019. Thus, companies are expected to deploy a variety of software to reduce data thefts and increase security. Furthermore, with technological advancements and vendors investing in enterprise tools, companies are anticipated to mitigate flaws in architecture tools integration. This is expected to increase the market growth despite the challenges.
To be competitive, market participants use differentiation techniques and focus on introducing new products. For instance, in September 2020, Mega International introduced HOPEX V4, which included HOPEX 360 (a new enterprise portal), Risk Management, IT Business Management, and Information Architecture. Moreover, collaborations, partnerships, mergers, and acquisitions are also expected to help companies in gaining market shares and increasing investments in the market for enterprise architecture tools. For instance, in August 2020, both Software AG and du from Emirates Integrated Telecommunications Company (EITC) collaborated to provide a subscription-based licensing model for IoT services to their corporate clients. The companies were able to address difficult IoT incorporation for enterprises in the UAE through this partnership.
Grand View Research has segmented the global enterprise architecture tools market based on solution, deployment, enterprise size, end use, and region:
- Enterprise Architecture Tools Solution Outlook (Revenue, USD Million, 2018 - 2028)
- Application Architecture
- Data Architecture
- Security Architecture
- Infrastructure Architecture
- Others
- Enterprise Architecture Tools Deployment Outlook (Revenue, USD Million, 2018 - 2028)
- On-premise
- Cloud
- Enterprise Architecture Tools Enterprise Size Outlook (Revenue, USD Million, 2018 - 2028)
- Small & Medium Enterprises (SMEs)
- Large Enterprises
- Enterprise Architecture Tools End-use Outlook (Revenue, USD Million, 2018 - 2028)
- BFSI
- Consumer Goods & Retail
- IT & Telecom
- Manufacturing
- Healthcare
- Others
- Enterprise Architecture Tools Regional Outlook (Revenue, USD Million, 2018 - 2028)
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- Asia Pacific
- China
- India
- Japan
- Latin America
- Brazil
- MEA
List of Key Players in the Enterprise Architecture Tools Market
- Software AG
- Avolution
- BiZZdesign
- MEGA International
- BOC Group
- Orbus Software
- QualiWare
- LeanIX
- erwin
- ValueBlue
Check out more studies related to digital architecture, conducted by Grand View Research:
- Serverless Architecture Market - The global serverless architecture market size was valued at USD 3.14 billion in 2017. It is anticipated to register a CAGR of 26.0% over the forecast period. Rising awareness regarding benefits of serverless architecture such as increased process agility and reduced operational cost is one of the primary growth stimulants for the market.
- Enterprise Service Bus Suite Market - The global enterprise service bus suite market is anticipated to grow significantly over the forecast period. Enterprise Service Bus (ESB) is used to route documents and data between different applications and services, both within and outside the enterprise. It helps in managing as well as monitoring business data effectively and forms the foundation of service-oriented architecture (SOA).
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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