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Enterprise Architecture Tools Market Share, Growth Prospects and Key Opportunities by 2026

asianewswire.net by asianewswire.net
August 18, 2022
in Press Releases
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(EMAILWIRE.COM, August 18, 2022 ) According to a research report “Enterprise Architecture Tools Market by Component (Solutions and Services (Managed Services and Professional Services)), Deployment Type, Organization Size, Vertical (BFSI, IT, Manufacturing), and Region – Global Forecast to 2026″ The global Enterprise architecture tools market size is expected to grow from USD 989 million in 2020 to USD 1,283 million by 2026, at a Compound Annual Growth Rate (CAGR) of 4.4% during the forecast period. Key factors that are expected to drive the growth of the market are the increasing adoption of the business-driven enterprise architecture approach for strategic business transformation and an increasing need to align enterprise information technology architecture with business strategy. With an enterprise architecture tool, landscapes, blueprints, and roadmaps are created to perform an ongoing and controlled enterprise transformation via projects. Such tools also enables organizations to understand their systems, applications, and assets from a holistic, top-down perspective. The solution helps in identifying gaps in organization’s current architecture to better understand how to reach the desired future-state objectives and architecture.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=147467618

Solutions segment to hold a larger market size during the forecast period

Based on solutions, the enterprise architecture tools market is segmented into infrastructure architecture, application architecture, data architecture, security architecture, and others. These solutions assist in increasing collaboration and improving workflow environments to accelerate productivity. Major reasons behind the decline of enterprise architecture tool solutions across the globe are reduced profit margins and less allocation of IT budgets. These reasons lead to low investments in new subscriptions. The demand for consulting, integration, and implementation services has also decreased with low technology spending on new subscriptions. These trends are expected to decrease the demand for enterprise architecture tools solutions.

SMEs segment to grow at the highest CAGR during the forecast period

SMEs are defined as organizations with an employee strength ranging from 1 to 1,000. SMEs have a low marketing budget and often lack the resources and capabilities for effective marketing orchestration. The majority of SMEs are prone to cyberattacks compared to large enterprises due to the lack of security infrastructure. According to a survey, nearly 43% of cyberattacks occur in small enterprises. Hence, SMEs need robust infrastructure to fight against cyberattacks and avoid data loss and downtime. The IT spending in the SMEs segment is estimated to increase at a high rate. However, in 2020, due to COVID-19 the demand for enterprise architecture tools have been reduced by SMEs. Reduced IT spending across SMEs, which led to low spending on new software and solutions. Further, the high cost associated with the enterprise architecture tools is another reason, which led to reduced demand for the solutions and services during a pandemic.

BFSI industry vertical to grow at the highest CAGR during the forecast period

The BFSI institutions are facing challenges due to changing business environment. The advent of advanced technologies will play a crucial role in the growth of the BFSI vertical. Digital technologies have enabled banking customers to access real-time banking and financial information services on any device. The financial crisis, changing customer behavior, increased risk awareness, focus on cost reduction, and the entrance of new financial players are some of the factors behind the changing landscape in the BFSI vertical.

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North America to account for the highest market share during the forecast period

North America is estimated to hold the largest market size in the global enterprise architecture tools market in 2020, and the trend is expected to continue during the forecast period. The region is at a growth stage due to several players offering enterprise architecture solutions and services. Organizations shifting toward the adoption of emerging technologies and the increasing adoption of digital business strategies are the major factors for the adoption of enterprise architecture tools offerings in North America.

Moreover, a business-driven enterprise architecture approach results in saving time and work on pipeline projects more quickly. Enterprises are focusing on aligning business needs with the IT department as a whole and efficiently manage the application portfolios to progress the organizations goals is also expected to drive the demand for enterprise architecture tools in the region. Another major factors is as increasing budget allocations for cloud services are expected to drive the market in North America.

The enterprise architecture tools market comprises major providers, such as Software AG (Germany), Avolution (Australia), BiZZdesign (Netherlands), MEGA International (France), BOC Group (US), Orbus Software (UK), QualiWare (Denmark), Leanix (Germany), erwin (US), Sparx Systems (Australia), ValueBlue (Netherlands), UNICOM Global (US), Clausmark (Germany), Enterprise Architecture Solutions (UK), Planview (US), MonoFor (US), Valispace (Portugal), FIOS Insight (US), Aplas (Australia), NinjaRMM (US), CodeLogic (US), BetterCloud (US), Ardoq (Norway), Facility Planning Arts (US), and Keboola (US).The study includes an in-depth competitive analysis of key players in the enterprise architecture tools market with their company profiles, recent developments, COVID-19 developments, and key market strategies.

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MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledgestore” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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