ID: MRFR/ICT/4270-HCR | 100 Pages | Published By Aarti Dhapte on March 2023
The CAGR for the enterprise portal market should be 12.14% by 2030 with the USD Value of 30.12 billion for the time period that this report covers.
Enterprise portals allow employees to access specific information and data regarding the various company and market phenomena on a single device. Many businesses refer to enterprise portals as corporate or business portals.
The usage of enterprise portals is still in the infancy stage in the global corporate world.
Many end-users have different needs in terms of data and information utilization. It’s largely due to the fact that the business world is changing rapidly during the post-pandemic era. Enterprise portals allow end-users to customize business data and information by adding new solutions, designs, ideas, and services to make it more powerful.
COVID-19 is a new virus that has left the world stumped. Vaccines have largely proven to have limited effect because of the unique nature of the virus and its amazing ability to morph into different variants rapidly.
Governments realized that the virus was not to be taken lightly early on. That’s why they imposed global quarantines and lockdowns. These had limited effect and so were temporary. The effects that they had on most businesses around the world were far from temporary.
Many businesses found that the quarantines and lockdowns forced them to either dramatically scale back production or even (temporarily) halt operations. This forced some businesses into bankruptcy and permanent closure.
However, not all businesses were affected in the same way. Some companies in a variety of industries actually benefited from COVID-19. The companies in the global enterprise portal market were some of these. Since more employees were working remotely, the need to access various company information and data from a single device in a safe and secure manner arose. Hence, growth for enterprise portals boomed in the pandemic and post-pandemic periods.
The cost of the technologies that power enterprise portals is decreasing by the day. Thus more companies around the world can afford to use these portals in daily operations. This is a key factor driving enterprise portal market growth.
Many companies around the world are buying enterprise portals so that they can customize them to meet their specific business and industry requirements. This is another key factor that’s driving growth in the enterprise portal market.
More companies are entering the market and this is creating competition that is driving industry growth rates.
Many companies in the burgeoning enterprise portal market are encouraged by the fact that more workers are accessing company data on their mobile and home digital devices. These companies are investing heavily in research and development to develop enterprise portals that are more effective at consolidating data and information and delivering it at the speed of light to the end-user.
Many companies simply can’t afford to buy and use enterprise portals. Still, others are concerned that these portals may make security breaches and cybercrime much more common. These are the two main constraints facing the global enterprise portal market.
Companies in the enterprise portal market will need to develop safer and more secure enterprise portals that are more efficient at retrieving data and information and can do so faster. This is the only way they can alleviate many business owners' concerns that these portals are not safe. These companies must also market the portals at lower price points.
Tata Consultancy Services Limited is a major Indian company. It has become a key emerging player in the enterprise portal industry because it invested heavily in research and development. Thus, the company was able to develop better products that were faster and did a better job of keeping information and data safer. It was able to create a sustainable competitive advantage because of this.
The type segment can be classified into the following sub-segments:
The application portal sub-segment consists of the following sectors:
The service segment can be classified into the following sub-segments:
The vertical segment can be classified into the following sub-segments:
The global enterprise portal market can be grouped into the following regions:
The North American region is expected to register the highest market growth rate for the time period that this report covers. There are many reasons for this. The first is that The United States of America and Canada are some of the world’s largest trading hubs. The second is that most companies in this part of the world are among the first in the world to implement and use the latest and most advanced technologies.
The North American region also enjoys the largest market share of all of the regions in the world. Part of the reason for this is that more and more people are choosing to work remotely (usually from home.) The quarantines imposed during the pandemic period necessitated this. These workers are educated enough to understand how to use these enterprise portals. They also are loath to return to the physical office to work for various reasons. Sometimes it’s because they’re afraid of COVID-19 but most of the time it’s because they like the freedom that working from home gives them.
Companies are realizing this and are investing more in technologies that will allow these employees to work remotely. This is especially true of those companies that are in the healthcare, ICT, and chemical industries.
The Asia-Pacific region is expected to register a high CAGR for the time period that this report covers. Some nations, Japan, China, India, and South Korea are expected to show the highest national CAGR.
The reason for this is that the economies in this region are booming. Thus, the masses have more purchasing power and are able to buy big-ticket items like cars and electronic devices. In fact, the manufacturing and automotive industries are booming in most of these regions. Also, many major technology companies are either calling the region home or are choosing to do business with the region.
The European Union is expected to register a more modest CAGR. The following nations are expected to underperform in terms of growth for the time period that this report covers:
The rest of the world can be divided into the following nations and regions:
The global enterprise portal market is highly competitive and fragmented. The reason is that many companies are enticed by the high CAGR and lucrative nature of the market. They are entering the market in droves. This is especially true of larger companies with bigger treasuries.
Companies are investing heavily in research and development. They can develop innovative new products that they can justify selling at higher price points than the competition. They can also create a sustainable competitive advantage that will allow them to remain financially and economically viable and profitable.
They are also entering into strategic partnerships with other successful companies. This action increases their resource bases and allows them to engage in quality research and development. They can then use their extensive marketing departments and resources to market their new products more extensively, intensively, and in innovative ways. Thus, they can enter new markets and expand their presence in existing ones. They can also strengthen their existing market bases.
Merging with and acquiring other companies allows them to do the same things that strategic partnerships do.
IBM Corporation is a major player in the global enterprise portal market. It’s an industry leader because it invested heavily in research and development. Thus, it was able to develop and market those cutting-edge products that gave it a sustainable competitive advantage. The company was thus able to remain financially and economically viable and profitable.
|Market Size||USD 30.12 billion|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Type, Services|
|Geographies Covered||North America, Europe, Aisa Pacific|
|Key Vendors||Red Hat, Inc. (U.S.) Liferay, Inc (U.S.) Sitecore (Denmark) Iflexion (U.S.) Ata Consultancy Services Limited (India) Infosys Limited (India) HCL Technologies Limited (India) Accenture Plc (Ireland) International Business Machines Corp (U.S.) Microsoft (U.S.)|
|Key Market Opportunities||These companies are investing heavily in research and development to develop enterprise portals that are more effective at consolidating data and information and delivering it at the speed of light to the end-user.|
|Key Market Drivers||The cost of the technologies that power enterprise portals is decreasing by the day.|
Tata Consultancy Services Limited, Liferay, Inc., Iflexion, Sitecore, Red Hat, Inc., Infosys Limited are the companies that are actively participating in the growth of the market.
The enterprise portal market is getting popular for the factors of as cost-effectiveness, user-friendly environment, and implementation.
The market will be expanding at a CAGR of approximately 12.14% in the forecast period.
The market will be growing during the forecast period of 2022-2030.
Asia Pacific, North America, Europe, and Rest of the World are key regions are topping in the regional analysis.