Global Enterprise Search Market to Reach US$ 13.0 Billion by 2032, Fueled by Increasing Demand for Data Analytics

August 24, 2023 | Technology & Media

According to the latest report by IMARC Group, titled “­­Enterprise Search Market Report by Enterprise Size (Small Enterprises, Medium Enterprises, Large Enterprises), End User (Banking and Financial Services, Healthcare, Retail, Government and Commercial Offices, Media and Entertainment, and Others), and Region 2024-2032,” the global enterprise search market size reached US$ 5.6 Billion in 2023. Enterprise search is a specialized system designed to aid in the search and retrieval of information within organizations. It functions by indexing and categorizing an organization's data from various sources such as websites, intranets, email systems, databases, and file systems, enabling users to conduct keyword searches and retrieve precise, relevant results. Its key purpose is to enhance productivity by simplifying access to information, which can be scattered across different repositories within an enterprise. Enterprise search can handle structured and unstructured data, manage large volumes of information, and often includes features like semantic search, natural language processing, and machine learning for improved accuracy and relevance. It helps in making informed business decisions, fosters collaboration, and aids in knowledge management. As organizations grow more complex and data-rich, enterprise search systems become essential tools to harness valuable insights from vast, disparate data sources.

Global Enterprise Search Market Trends:

The global enterprise search market is propelled by the exponential growth of data. With the increasing number of companies generating vast amounts of structured and unstructured data, there is surging demand for robust search solutions, such as enterprise search platforms, that index, organize, and retrieve data, thereby enhancing productivity and decision-making. Moreover, the rising popularity of cloud-based enterprise search solutions that provide scalability as data volumes grow without substantial infrastructure investments is creating a positive market outlook. Besides this, these solutions facilitate seamless integration with other cloud-based applications, promoting easy data access and collaboration. In addition to this, the rise of remote and distributed workforces that necessitates efficient information retrieval is impelling the need for a centralized and user-friendly search platform that ensures that employees, regardless of location, access required data, promoting productivity. Concurrently, the growing emphasis on regulatory compliance and data security is impelling the adoption of enterprise search platforms with robust security features that allow effective data governance policy implementation, protecting sensitive data from unauthorized access and potential breaches. Furthermore, rising organizational investments in modern enterprise search solutions and ongoing advancements in artificial intelligence (AI) and natural language processing (NLP) technologies that enhance user experiences are strengthening the market growth. Looking forward, the market value is projected to reach US$ 13.0 Billion by 2032, expanding at a CAGR of 9.6% during 2024-2032.

Market Summary:

  • On the basis of the enterprise size, the market has been segregated into small, medium, and large enterprises.
  • Based on the end user, the market is categorized into banking and financial services, healthcare, retail, government and commercial offices, media and entertainment, and others.
  • On a regional basis, the market has been segmented into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
  • The competitive landscape of the market has also been examined, with some of the key players being Attivio (ServiceNow), Coveo Solutions Inc., Dassault Systèmes, Google LLC, International Business Machines Corporation, Lucidworks, MarkLogic Corporation, Oracle Corporation, SAP SE, Sinequa and X1 Technologies Inc.

Report Coverage:

Report Features Details
Base Year of the Analysis 2023
 Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Segment Coverage Enterprise Size, End User, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Attivio (ServiceNow), Coveo Solutions Inc., Dassault Systèmes, Google LLC, International Business Machines Corporation, Lucidworks, MarkLogic Corporation, Oracle Corporation, SAP SE, Sinequa and X1 Technologies Inc.
Customization Scope 10% Free Customization
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Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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Global Enterprise Search Market to Reach US$ 13.0 Billion by 2032, Fueled by Increasing Demand for Data Analytics
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