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Enterprise Search Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2013 - 2019

The enterprise search market is primarily driven by technological advancements and the presence of numerous small and large players. Enterprise search enables productive and effective functioning of data-intensive companies and helps reduce search time by 15% to 30%.

Scope of the enterprise search market

The global enterprise search market is segmented on the basis of certain parameters such as geography, end user, and size of enterprise. Geographically, the overall enterprise search market is categorized into four key regions: North America, Europe, Asia-Pacific, and Rest of the World. The major end users of enterprise search include media and entertainment, retail, banking and financial services, aerospace and defense, construction, healthcare, and government and commercial offices. On the basis of size of enterprise, the enterprise search market is segmented into small scale enterprise, medium scale enterprise, and large scale enterprise.

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Enterprise search market: Geographical outlook

The global enterprise search market was estimated to be worth US$1,777.5 million in 2012 and – registering a 12.2% CAGR from 2013 to 2019 – is expected to be worth US$3,993.7 million by 2019.

Region-wise, North America dominated the global enterprise search market in 2012, accounting for 34.2% of the revenue share. Technological advancements, increasing market penetration of enterprise search in countries such as Germany and Canada, and presence of major market players in the U.S. are some of the key factors driving the North American enterprise search market. In addition to this, many U.S. vendors have collaborated with European market players, fuelling the growth in both regional markets. On the other hand, the Asia-Pacific market for enterprise search is estimated to register the highest CAGR of 13.5% among all other regions.

Segment analysis of the enterprise search market

Among key end users, the banking and financial services segment held the largest revenue share of the enterprise search market, accounting for 34.9% of the total market share in 2012. The segment is expected to retain its leading position during the forecast period owing to effective and protective data sharing between branches and offices. The government and commercial offices segment of the enterprise search market ranked second in terms of revenue and is anticipated to witness significant growth between 2013 and 2019 due to improvement in workflow owing to rising communication and use of intranet.

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Among the types of enterprises, large scale enterprises dominated the enterprise search market in 2012, accounting for 61% of the market share. However, the medium scale segment of the enterprise search market is expected to witness the fastest growth during the forecast period.

Drivers, restraints, and opportunities

The global enterprise search market is governed by numerous factors that support or inhibit its growth.

An increasing need for more appropriate information, the availability of advanced and cost-effective technologies, and the growing demand to make the search process more relevant are some of the factors fueling the growth of the market. Being oligopolistic in nature, the enterprise search market holds immense opportunities for growth and expansion. Moreover, with the convergence of information and search technologies, the enterprise search market has received a tremendous boost.

In contrast, presence of multiple repositories and customized internet search, and uncertain meaning of keywords are forces that have restrained the enterprise search market.

There are numerous regional and international players operating in the global enterprise search market. In order to gain a competitive edge over other rivals and improve performance, companies have been developing cost-effective software, solutions, and techniques. Some of the prominent participants of the enterprise search market are Oracle Corporation, Attivio Software Incorporation, Mark Logic Corporation, SAP AG, X1 Technologies Inc., Microsoft Corporation, Lucid Work Incorporation, EMC Corporation, Dassault Systems S.A., IBM Corporation, and Coveo Solutions Inc.

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