Enterprise Architecture Tools Market - Introduction
- Enterprise architecture tools are comprehensive approach platforms for enterprises for planning, modeling, design, analysis, and implementation of effective business and IT architecture for better results.
- Companies are using enterprise architecture tools in the application development lifecycle by designing and modeling the architectures of the systems, further implemented for the business process.
- Enterprise architecture tools help to understand the strategic architecture, identify opportunities, risks, and business threats, analyze the options and roadmaps to goals, and also helps to identify the pattern and technology strategies for business growth.
- Enterprise architecture tools enable companies to design information & data architecture, application architecture, solution architecture, IT asset management, and IT portfolio planning.
- Adoption of enterprise architecture tools are increasing among enterprises to implement effective business strategies in different business operations and processes.
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Key Drivers of the Enterprise Architecture Tools Market
- Increasing demand for enterprise information technology architecture is expected to drive the growth of the enterprise architecture tools market. Rising demand for IT portfolio planning and IT asset management is also expected to boost the growth of the market.
- Increasing adoption of advanced enterprise architecture tools in different industry verticals is expected to generate revenue and advanced technological solution opportunities for solution providers during the forecast period.
Lack of skilled workforce and high cost of enterprise architecture tools expected to hinder the market
- Lack of skilled workforce to utilize all the features and applications of the tools for business planning and implantation of strategies, may restrain the growth of the market.
- The high cost of enterprise architecture tools cannot be afforded by small and medium size enterprises. This is also expected to hamper growth of the market.
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Impact of COVID-19 on the Global Enterprise Architecture Tools Market
- Companies are facing issues managing IT assets and utilization of assets, and productivity due to increasing adoption of the work from home business model during the COVID-19 period. Companies are adopting advanced tools for designing, modeling, and implementation of IT management strategy for more output.
- Demand for enterprise architecture tools solutions is increasing during COVID-19 and is also set to increase during the forecast period.
North America to Hold Major Share of the Global Enterprise Architecture Tools Market
- North America holds prominent share of the enterprise architecture tools market due to increasing adoption of advanced enterprise planning software and tools by companies to utilize the assets and implement better strategies for business growth .
- The enterprise architecture tools market in Asia Pacific and Europe is expected to expand the fastest during the forecast period due to increasing investment by industry leaders to provide enterprise software solutions, to capture more market share in these regions.
Key Players Operating in the Global Enterprise Architecture Tools Market
- Oracle Corporation
Oracle Corporation is a U.S. based information technology company. The company provides applications, platforms, and IT infrastructure products and services. It has three business segments: Cloud and Licensing, Hardware, and Services. The Services segment offers consulting services, advanced customer support services, and education services. Oracle Corporation offers solutions in artificial intelligence, application integration, digital assistance, Internet of Things, enterprise communication, enterprise architecture solutions, and mobile campaign manager.
- IBM Corporation
IBM Corporation is a multinational company, manufacturing and marketing products including computer hardware, middleware, and software, besides providing hosting and IT consulting services. IBM Corporation operates under five business segments which include banking and finance; government; healthcare; gaming, media & entertainment; and retail and telecommunications. The company provides industry solutions in enterprise architecture solutions, analytics, application infrastructure, e-commerce, DevOps, cloud computing, Big Data, and marketing.
Other key players operating in the global enterprise architecture tools market include Capstera, Sparx Systems Pty Ltd., Scientrix, Avolution Pty Ltd, Vitech Corporation, FIOS Insight, LLC, and BOC Products & Services AG.
Global Enterprise Architecture Tools Market: Research Scope
Global Enterprise Architecture Tools Market, by Application
- Application Portfolio Management
- IT Asset Management
- Strategy and Planning
- Information and Data Architecture
Global Enterprise Architecture Tools Market, by Deployment
- Cloud Based
Global Enterprise Architecture Tools Market, by Enterprise Size
- Small & Medium Enterprises
- Large Enterprises
Global Enterprise Architecture Tools Market, by Industry
- IT & Telecom
- Media and entertainment
- Retail & E-commerce
- Transportation & logistics
Global Enterprise Architecture Tools Market Segmentation, by Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.