Enterprise search provides benefits of higher productivity as it can reduce the time spent by employees in searching information by 15% to 30%. It makes business process more effective and productive to data intensive companies. Enterprise search system helps in maintaining the data security by providing limited access to the information as only authorized people have access to the information stored in the database.
The enterprise search market is driven by various factors such as the need to make search more relevant, availability of technologies and obtaining relevant information. The enterprise search market was valued at USD 1,777.5 million in 2012 and is expected to grow at a CAGR of 12.2% during the forecast period from 2013 to 2019. However, uncertain meaning of keywords, presence of customized internet search and multiple repositories are some factors inhibiting market growth.
In terms of end-user, banking and financial services segment was the largest segment and accounted for a 34.9% share in 2012. Connected banks and financial offices through intranet facilitating protective and effective sharing of data among different branches and offices are the factors driving market growth. Recommind Inc. based in San Francisco, a key player in information management, email management and enterprise search has provided solutions to leading investment banks. Smart logic Semaphore, based in United States provides enterprise software to key banking players such as Royal Bank of Scotland (RBS), Bank of America and many others.
On the basis of size of enterprise, the market for enterprise search is segmented into large scale enterprise, medium scale enterprise and small scale enterprise. Large scale enterprise was the largest segment in 2012 and accounted for a 61.0% share. Owing to the increase in number of medium scale enterprises the market for medium scale enterprise is expected to be the fastest growing market among all the types.
Geographically, North America was the largest enterprise search market in 2012 and accounted for a 34.2% share. Growing market penetration of enterprise search especially in high growth countries such as Canada and Germany has been the driving force for this market. Most of the U.S. players are entering the European market by collaborating with different European vendors to provide enterprise search in Europe.
Most of the key players in this market are competing amongst each other by developing cost effective enterprise software and solutions with greater performance to gain a competitive advantage. The global enterprise search market is dominated by few organized players and regional players as well. The organized market players include Microsoft Corporation, Oracle Corporation, IBM Corporation, Coveo Solution Inc., Attivio Inc. and others.
Enterprise search is defined as the technique of making the content from databases, data management systems, intranets, emails, and others searchable to the audience. It is a type of software that helps in searching the information within an enterprise. With the continuously increasing volumes of the data generated, it has become significant to store and manage this data. With the loads of databases created every day, it is equally important to develop data retrieving tools to efficiently help in extracting the necessary information whenever required from these databases.
The report includes segmentation of enterprise search market by end user, size of enterprise and geography. Further, it provides current and forecast market size by revenue for the aforementioned categories. Cross sectional analysis for end-use industry, size of enterprise and geography segments is also a part of the scope. Factors influencing and inhibiting growth of the market have been analyzed.
The market overview section of the report demonstrates the market dynamics such as drivers, restraints and opportunities that influence the current status and future status of the market. Impact factors such as Porter’s five forces analysis have also been explained in the market overview section of the report, in order to give a thorough analysis of overall competitive scenario in global enterprise search market.
The report includes segmentation of enterprise search market by end-use industry, size of enterprise and geography. Different end-use industry using enterprise search solutions includes government and commercial offices, banking, financial services and insurance, retail, healthcare and others (media and entertainment, aerospace and defense, construction). The market revenue and forecast for each industry has been provided for the period 2011-2019 in terms of USD million, along with the CAGR for the forecast period 2013 to 2019.
Enterprises are classified on the basis number of employees in the company. The enterprises are classified into large scale enterprise, medium scale enterprise and small scale enterprise. Large scale enterprises have employee strength of more than 10,000 whereas medium scale enterprise employed between 5,000 to 10,000 employees. Small scale enterprises have less than 5,000 employees. A detailed market analysis and forecast for these types of enterprises has been provided in the study, in terms of market revenue in USD million for the period 2011 to 2019. The market revenue has been forecast for the period 2013 to 2019, considering 2012 as the base year.
In terms of geographical distribution, the global enterprise search market has been classified into four regions namely, North America, Europe, Asia-Pacific and Rest of the World (RoW). This section includes market revenue (2011-2019) and forecast (2013-2019) for end-use industry and size of enterprise in each regional market, in terms of USD million. The study further offers recommendations and highlights of the market, which would be useful for the present and new market players to sustain and grow in the global enterprise search market.
The report concludes with the company profile sections which include key information about the major players in the market. Some of the key players profiled in this report include IBM Corporation, Microsoft Corporation, Oracle Corporation, SAP AG, Attivio Software Incorporation, Coveo Corporation, Dassault Systems S.A, Marklogic Corporation and X1 Technologies Inc. This study includes the strategies adopted by these key players to sustain competition. Recent developments by the companies and barriers of the market will help emerging players design their strategies in an effective manner. The study is expected to help key players of the enterprise search market in formulating and developing their strategies.
The global enterprise search market is categorized into the following segments:
Enterprise Search Market, by End-user
- Banking and financial services
- Government and commercial offices
- Others (media and entertainment, aerospace and defense, construction)
Enterprise Search Market, by Size of Enterprise
- Large scale enterprise
- Medium scale enterprise
- Small scale enterprise
Enterprise Search Market, by Geography
- North America
- Rest of the World