SAN FRANCISCO, April 4, 2023 /PRNewswire/ -- The global enterprise search market size is expected to reach USD 8.85 billion by 2030, registering an estimated CAGR of 8.9% from 2023 to 2030, according to a new report by Grand View Research, Inc. The growth can be attributed to the increasing need for efficient supervision of large volumes of data among organizations to strengthen their operational capabilities. The growing demand for solutions that facilitate time-saving data search as well as enhanced security is driving the adoption of enterprise search solutions. The rising significance of value-added services, along with search capabilities, is further driving their adoption across organizations.
Key Industry Insights & Findings from the report:
- Based on type, the hosted search segment is anticipated to grow at the highest CAGR of over 9% during the forecast period. This can be attributed to the growing trend of enterprise data being hosted on cloud platforms for remote work capabilities.
- Based on end-use, the retail segment recorded the highest market share of over 41% in 2022, owing to digitization of retail stores and the large product database.
- Based on enterprise size, the large enterprises segment recorded the highest market share in 2022 owing to the need to search precise data from the vast database obtained from various sources.
- Based on geography, North America accounted for the largest market share in 2022 owing to the ongoing technological developments coupled with the strong presence of major market players in the region.
Read 163-page market research report, "Enterprise Search Market Size, Share & Trends Analysis Report By Type (Local Search, Hosted Search), By End-use (Government & Commercial Offices, Banking & Financial), By Enterprise Size, By Region, And Segment Forecasts, 2023 - 2030", published by Grand View Research.
Enterprise Search Market Growth & Trends
Technological advancements coupled with the introduction of Software as a Service (SaaS) and cloud computing are driving the adoption of hosted enterprise search tools in small and medium enterprises. These tools require minimal technical support, and low maintenance and installation cost. Additionally, software as a service providers offer round the clock customer support and data protection which is a major driver.
The growth of enterprise search market is being further proliferated by the introduction of new and innovative product offerings by the leading market players. For instance, in January 2023, Microsoft Azure expanded its service with integration of OpenAI, an advanced artificial intelligence model, to the general customer base. The artificial intelligence integration enables efficient search and feature deployment for enterprises.
Enterprise Search Market Segmentation
Grand View Research has segmented the global enterprise search market based on type, end-use, enterprise size, and region
Enterprise Search Market - Type Outlook (Revenue, USD Million, 2018 - 2030)
- Local Search
- Hosted Search
- Search Appliance
Enterprise Search Market - End-use Outlook (Revenue, USD Million, 2018 - 2030)
- Government & Commercial Offices
- Banking & Financial
- Healthcare
- Retail
- Media
- Manufacturing
- Others
Enterprise Search Market - Enterprise Size Outlook (Revenue, USD Million, 2018 - 2030)
- Small
- Medium
- Large
Enterprise Search Market - Regional Outlook (Revenue, USD Million, 2018 - 2030)
- North America
- U.S.
- Canada
- Mexico
- Europe
- U.K.
- Germany
- France
- Italy
- Russia
- Asia Pacific
- China
- India
- Japan
- South Korea
- South America
- Brazil
- Argentina
- Colombia
- MEA
- UAE
- Saudi Arabia
List of Key Players in the Enterprise Search Market
- Attivio
- Coveo Solutions Inc.
- Dassault Systemes Inc.
- Dieselpoint Inc.
- EMC Corporation
- Expert System Inc.
- Google Inc.
- HP Autonomy
- IBM Corporation
- Lucidworks Inc.
- MarkLogic Corporation
- Oracle
- Perceptive Software Inc.
- PolySpot
- Recommind Inc.
- SAP AG
- Sinequa Inc.
- Thunderstone Software
- X1 Technologies
- ZyLabs
Check out more market research studies published by Grand View Research:
- Business Software And Services Market- The global business software and services market size is expected to reach USD 1,153.75 billion by 2030, according to a new study conducted by Grand View Research, Inc. The market is expected to expand at a CAGR of 11.9% from 2023 to 2030. The market is expected to flourish due to the rapid proliferation of massive enterprise data and the rising use of automation to enhance business operations. The rapidly expanding need for increased operational effectiveness and transparency across various organizations and businesses propels the market growth.
- Fire Department Software Market - The global fire department software market size is anticipated to reach USD 2,059.2 million by 2030, according to a new report by Grand View Research, Inc. The market is expected to grow at a CAGR of 11.5% from 2022 to 2030. Increasing adoption of cloud-based technologies across various government sectors, the rapid growth of mobile and web-based software, and the rising need for modernization across fire departments are major drivers of market growth. In addition, growing awareness about fire safety services is also expected to fuel the market growth.
- Enterprise Architecture Tools Market - 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.
Browse through Grand View Research's IT Services & Applications Industry Research Reports.
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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