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.
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.
Related Press Release@ Enterprise Architecture Tools Market Report
Enterprise Architecture Tools
Market Report Highlights
- 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
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
No comments:
Post a Comment