Rising Demand for Efficient Data Management Drives Growth in Enterprise Search Solutions

DUBLIN, Oct. 5, 2023 /PRNewswire/ -- The "Enterprise Search Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to  ResearchAndMarkets.com's offering.

The global enterprise search market witnessed a significant surge, with its size reaching US$ 5.0 Billion in 2022. Looking ahead, leading market research firm anticipates robust growth, projecting the market to attain US$ 9.6 Billion by 2028, exhibiting an impressive Compound Annual Growth Rate (CAGR) of 10.7% during the forecast period from 2023 to 2028.

Enterprise search solutions empower authorized users to access content from diverse sources seamlessly. These solutions encompass various stages, including content collection, content processing, indexing, query processing, and matching. They not only enhance productivity but also foster an environment conducive to informed decision-making.

Additionally, enterprise search systems assist in creating comprehensive databases by gathering frequently asked questions (FAQs) and answers for customer support solutions. Consequently, these systems have extensive applications across various sectors, including government, commercial enterprises, healthcare, retail, media and entertainment, and banking, financial services, and insurance (BFSI).

Market Trends:

The market is currently witnessing a surge in demand for time-saving data search solutions across global organizations. This is driven by the need to efficiently manage large volumes of data, which enhances operational efficiency. The adoption of hosted enterprise search solutions, especially in small and medium enterprises, is on the rise, thanks to the global prevalence of cloud computing and Software as a Service (SaaS).

Furthermore, the robust security features offered by enterprise search solutions, ensuring authorized access to information, contribute significantly to market growth. The integration of text analytics and artificial intelligence (AI) technologies in businesses worldwide is opening up lucrative growth opportunities for industry investors.

Additional factors driving market growth include the low maintenance requirements, reduced installation costs, and minimal technical support associated with enterprise search solutions. Rapid technological advancements and increasing demand for value-added services in various sectors are also key growth catalysts.

Key Market Segmentation:

The report provides a comprehensive analysis of key trends within each sub-segment of the global enterprise search market. It offers forecasts at the global, regional, and country levels for the period 2023-2028. The market is categorized based on enterprise size and end user.

Breakup by Enterprise Size:

• Small Enterprises
• Medium Enterprises
• Large Enterprises

Breakup by End User:

• Banking and Financial Services
• Healthcare
• Retail
• Government and Commercial Offices
• Media and Entertainment
• Others

Breakup by Region:

• North America
  • United States
  • Canada
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa

Competitive Landscape:

The competitive landscape of the industry has been thoroughly examined, along with profiles of key players, including Attivio (ServiceNow), Coveo Solutions Inc., Dassault Systemes, Google LLC, International Business Machines Corporation, Lucidworks, MarkLogic Corporation, Oracle Corporation, SAP SE, Sinequa, and X1 Technologies Inc.

Key Questions Answered:

• How has the global enterprise search market performed, and what are the growth prospects?
• What is the impact of COVID-19 on the market?
• Which regions are the key markets?
• What is the market breakdown by enterprise size and end user?
• What are the driving factors and challenges in the industry?
• Who are the key players, and what is the level of competition in the market?

For more information about this report visit https://www.researchandmarkets.com/r/tzkxwu

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SOURCE Research and Markets