MarketsandMarkets estimates the global enterprise architecture tools market size would grow from 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.
The services segment is expected to grow at a higher CAGR during the forecast period The services segment of the enterprise architecture tools market includes managed services and professional services.Services are an important part of any solution’s deployment life cycle.
Therefore, various vendors offer services associated with enterprise architecture tool solutions to help companies effectively implement their enterprise architecture strategies.Enterprises require active support from skilled professionals to minimize their downtime during pre- and post-installation processes of solutions.
These services provide the necessary support to uphold the efficiency of business processes, increase enterprise growth, and reduce unwanted operational expenses.
BFSI industry vertical to hold the highest market share in 2020 The BFSI industry needs to change its supporting IT to cope up with the challenging transformational change.Due to the inter-dependency of operations and IT in the BFSI vertical, there is a need for a planned and guided-integrated approach.
BFSI institutions are adopting enterprise architecture tools at a high rate as it is a key to enabling such change initiatives to stay ahead of the curve.
APAC to grow at the highest CAGR during the forecast period Growing industrialization, coupled with an increase in competition, has proved to be one of the biggest drivers for the enterprise architecture tools market in this region.The region has seen an increase in the deployment of enterprise architecture tools by industries to enhance efficiency and streamline their business processes.
Due to these factors, the region is projected to grow at the highest CAGR during the forecast period. • By Company: Tier 1–18%, Tier 2–44%, and Tier 3–38% • By Designation: C-Level Executives–32%, Director Level–36%, and Others–32% • By Region: North America–38%, Europe–26%, APAC–18%, MEA – 10%, and Latin America – 8%
The enterprise architecture tools market comprises major solution 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.
Research Coverage The enterprise architecture tools market revenue is primarily classified into revenues from solutions and services.Solutions revenue is associated with variety of solutions such as infrastructure architecture, application architecture, data architecture, security architecture ans others and services revenue is associated with services including managed services and professional services.
The market is also segmented based on component, deployment type, organization size, vertical, and region.
Key benefits of the report The report would help the market leaders/new entrants in this market with the information on the closest approximations of the revenue numbers for the overall enterprise architecture tools market and the subsegments.This report would help stakeholders understand the competitive landscape and gain insights to better position their businesses and plan suitable go-to-market strategies.
The report would help stakeholders understand the pulse of the market and provide them with information on the key market drivers, restraints, challenges, opportunities, and COVID-19 impact.
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