The enterprise search is used to search for information inside a corporate organization. The technology identifies and enables the indexing, searching and display of specific content to authorized users across the enterprise. Nowadays businesses become more complex and data-driven, as the demand for efficient & effective enterprise search solutions is becoming increasingly important. There can be a huge proliferation of product information, process information, marketing content, and so forth. Further, individual teams can create content, which then inevitably spreads across the enterprise. Furthermore, to stay ahead in the competition, it’s important to know the emerging trends in enterprise search such as AI and ML which are revolutionizing enterprise search by allowing searches to be more accurate and efficient. With AI and ML, enterprise search solutions can better understand user intent and offer more relevant search results. AI and ML are also being used to automatically categorize and organize documents, making them easier for users to find. These factors are anticipated to create numerous opportunities for market growth during the forecast period.
The growing trend of digital transformation initiatives that accelerate across Industries is one of the major factors driving the global market growth. In addition, diversity of data, increase in adoption of document management solution in e-commerce sectors, and increase in usage of chatbots and virtual assistants are expected to propel the growth of the market during the forecast period. Furthermore, organizations face many challenges in businesses that require swift, data-driven decision-making solution. Without access to accurate information, workers are unable to move freely and may even perform worse, which has a detrimental impact on the industry. These enhanced factors are expected to fuel the global market demand in the upcoming years. However, data privacy and security concerns hamper the growth of the market. Furthermore, the rise in demand of knowledge graph-based search solution creates opportunities for enterprise search industry to optimize resources.
The enterprise search market is segmented into component, type, deployment mode, enterprise size, industry vertical, and region. The report provides information on various components including solution and service. By type, it is categorized into conversational search, multimedia search and multilingual search. Based on deployment mode, it is divided into on-premise and cloud. On the basis of enterprise size, it is categorized by large enterprises and small & medium-sized enterprises. The details of the industry vertical- namely BFSI, healthcare, government, retail and e-commerce, travel and hospitality, media & entertainment, and others are also provided in the report. In addition, it analyzes the current market trends across different regions such as North America, Europe, Asia-Pacific, and LAMEA.
The market players operating in the enterprise search market are OpenText Corporation, Microsoft Corporation, IBM Corporation, Amazon Web Services, Inc., Oracle Corporation, Google LLC, SAP SE, EMC Corporation, Attivio, and X1 Discovery, Inc. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships, which help to drive the growth of the enterprise search market globally..
The growing trend of digital transformation initiatives that accelerate across Industries is one of the major factors driving the global market growth. In addition, diversity of data, increase in adoption of document management solution in e-commerce sectors, and increase in usage of chatbots and virtual assistants are expected to propel the growth of the market during the forecast period. Furthermore, organizations face many challenges in businesses that require swift, data-driven decision-making solution. Without access to accurate information, workers are unable to move freely and may even perform worse, which has a detrimental impact on the industry. These enhanced factors are expected to fuel the global market demand in the upcoming years. However, data privacy and security concerns hamper the growth of the market. Furthermore, the rise in demand of knowledge graph-based search solution creates opportunities for enterprise search industry to optimize resources.
The enterprise search market is segmented into component, type, deployment mode, enterprise size, industry vertical, and region. The report provides information on various components including solution and service. By type, it is categorized into conversational search, multimedia search and multilingual search. Based on deployment mode, it is divided into on-premise and cloud. On the basis of enterprise size, it is categorized by large enterprises and small & medium-sized enterprises. The details of the industry vertical- namely BFSI, healthcare, government, retail and e-commerce, travel and hospitality, media & entertainment, and others are also provided in the report. In addition, it analyzes the current market trends across different regions such as North America, Europe, Asia-Pacific, and LAMEA.
The market players operating in the enterprise search market are OpenText Corporation, Microsoft Corporation, IBM Corporation, Amazon Web Services, Inc., Oracle Corporation, Google LLC, SAP SE, EMC Corporation, Attivio, and X1 Discovery, Inc. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships, which help to drive the growth of the enterprise search market globally..
Key Benefits For Stakeholders
- The study provides an in-depth analysis of the enterprise search market along with the current trends and future estimations to elucidate the imminent investment pockets.
- Information about key drivers, restrains, and opportunities and their impact analysis on the Enterprise search market size is provided in the report.
- The Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in the Enterprise search industry.
- The quantitative analysis of the global enterprise search market for the period 2022-2032 is provided to determine the Enterprise search market potential.
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- Investment Opportunities
- Technology Trend Analysis
- Regulatory Guidelines
- Strategic Recommedations
- SWOT Analysis
Key Market Segments
By Component
- Solution
- Service
By Type
- Conversational Search
- Multimedia Search
- Multilingual Search
By Deployment Mode
- On-premise
- Cloud
By Enterprise Size
- Large Enterprises
- Small and Medium-sized Enterprises
By Industry Vertical
- BFSI
- Healthcare
- Government
- Retail and E-commerce
- Travel and Hospitality
- Media and Entertainment
- Others
By Region
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
- Key Market Players
- Microsoft Corporation
- SAP SE
- Oracle Corporation
- Attivio
- X1 Discovery, Inc.
- Google LLC
- Amazon Web Services, Inc.
- IBM Corporation
- EMC Corporation
- OpenText Corporation
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: ENTERPRISE SEARCH MARKET, BY COMPONENT
CHAPTER 5: ENTERPRISE SEARCH MARKET, BY TYPE
CHAPTER 6: ENTERPRISE SEARCH MARKET, BY DEPLOYMENT MODE
CHAPTER 7: ENTERPRISE SEARCH MARKET, BY ENTERPRISE SIZE
CHAPTER 8: ENTERPRISE SEARCH MARKET, BY INDUSTRY VERTICAL
CHAPTER 9: ENTERPRISE SEARCH MARKET, BY REGION
CHAPTER 10: COMPETITIVE LANDSCAPE
CHAPTER 11: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to the report, the enterprise search market was valued at $5 billion in 2022, and is estimated to reach $12.2 billion by 2032, growing at a CAGR of 9.6% from 2023 to 2032.The Enterprise Search Market is likely to experience a significant growth rate of 9.6% from 2023-2032, owing to the rise in market demand for enterprise search solutions in several industries
The enterprise search is used to search for information inside a corporate organization. The technology identifies and enables the indexing, searching and display of specific content to authorized users across the enterprise. Nowadays businesses have become more complex and data-driven, as the demand for efficient & effective enterprise search solutions is becoming increasingly important. There can be a huge proliferation of product information, process information, marketing content, and so forth. Furthermore, to stay ahead in the competition, it’s important to know the emerging trends in enterprise search such as AI and ML which are revolutionizing enterprise search by allowing searches to be more accurate and efficient. With AI and ML, enterprise search solutions can better understand user intent and offer more relevant search results. AI and ML are also being used to automatically categorize and organize documents, making them easier for users to find. These factors are anticipated to create numerous opportunities for market growth during the forecast period.
The growing trend of digital transformation initiatives that accelerate across Industries is one of the major factors driving the global market growth. In addition, diversity of data, increase in adoption of document management solution in e-commerce sectors, and increase in usage of chatbots and virtual assistants are expected to propel the growth of the market during the forecast period. Moreover, increasing availability of cloud-based solution & services and the growing usage of mobile devices are the factors driving the growth of global enterprise search market. In addition, a surge in technological advancements is expected to create numerous opportunities for the growth of the market. However, data privacy and security concerns hamper the growth of the market.
The enterprise search market is segmented into component, type, deployment mode, enterprise size, industry vertical, and region. The report provides information on various components including solution and service. By type, it is categorized into conversational search, multimedia search and multilingual search. Based on deployment mode, it is divided into on-premise and cloud. On the basis of enterprise size, it is categorized by large enterprises and small & medium-sized enterprises. The details of the industry vertical- namely BFSI, healthcare, government, retail and e-commerce, travel and hospitality, media & entertainment, and others are also provided in the report. In addition, it analyzes the current market trends across different regions such as North America, Europe, Asia-Pacific, and LAMEA.
The market players operating in the global enterprise search market. This report further outlines the current trends and key areas of investment. In addition, it includes Porter’s five forces analysis to understand the competitive scenario of the industry and role of each stakeholder. The report features the strategies adopted by key market players to maintain their foothold in the market. Furthermore, it highlights the competitive landscape of key market players to increase their market share and sustain intense competition in the industry. The key players operating in the market include OpenText Corporation, Microsoft Corporation, IBM Corporation, Amazon Web Services, Inc., Oracle Corporation, Google LLC, SAP SE, EMC Corporation, Attivio, and X1 Discovery, Inc. For instance, in June 2023, search engine developer Glean Technologies Inc. launched the Glean Chat, an artificial intelligence assistant, that can summarize business documents and generate text. Workers can use the tool to summarize recent business developments. The AI assistant can not only specify whether the update was implemented successfully, but also fetch related technical details.
Key Market Insights
By component, the solution segment was the highest revenue contributor to the market in 2022, and is estimated to reach $7.59 billion by 2032, with a CAGR of 8.5%. However, the service segment is expected to be the fastest-growing segment with a CAGR of 11.8% during the forecast period.By type, the conversational search segment was the highest revenue contributor to the market in 2022, and is estimated to reach $5.83 billion by 2032, with a CAGR of 8.2%. However, the multimedia search segment is estimated to be the fastest-growing segment with a CAGR of 12.0% during the forecast period.
By deployment mode, the on-premise segment was the highest revenue contributor to the market in 2022, and is estimated to reach $6.45 billion by 2032, with a CAGR of 8.3%. However, the cloud segment is estimated to be the fastest-growing segment during the forecast period.
By enterprise size, the large enterprises segment dominated the global market share in 2022, and is estimated to reach $6.94 billion by 2032, with a CAGR of 8.0%. However, the small and medium-sized enterprises segment is expected to be the fastest-growing segment with a CAGR of 12.2% during the forecast period.
By industry vertical, the BFSI segment was the highest revenue contributor to the market in 2022, and is estimated to reach $2.80 billion by 2032, with a CAGR of 6.3%. However, healthcare segment is estimated to be the fastest-growing segment during the forecast period.
Region-wise, North America was the highest revenue contributor, accounting for $1.81 billion in 2022 and is estimated to reach $3.41 billion by 2032, with a CAGR of 6.7%.
Companies Mentioned
- Microsoft Corporation
- SAP SE
- Oracle Corporation
- Attivio
- X1 Discovery, Inc.
- Google LLC
- Amazon Web Services, Inc.
- IBM Corporation
- EMC Corporation
- OpenText Corporation
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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