Global Enterprise Architecture Tools Market (2021-2028) – Opportunities to Add Big Data Capabilities to Enterprise Architecture Tools
DUBLIN, October 20, 2021– (COMMERCIAL THREAD)–The “Enterprise Architecture Tools Market Size, Share and Trend Analysis Report by Solution (Security Architecture, Application Architecture, Data Architecture), by Deployment, by Company Size,” by end-use, region and segment forecast, 2021-2028 ” report was added to ResearchAndMarkets.com offer.
The global enterprise architecture tools market size is projected to reach $ 1.41 billion by 2028, with a CAGR of 4.9% from 2021 to 2028, according to a new study by the publisher Rising importance of Affiliate enterprise IT solutions and enterprise-oriented architecture methods are expected to drive the market growth.
The business is supported by enterprise architecture tools, which add big data capabilities and save time, while reducing processing time. These factors are expected to increase the use of enterprise architecture tools by enterprises, subsequently driving the market growth on a global scale.
Enterprise architecture tools offer the added benefit of supporting strategic decision making and integrating data across industries. Growing demand for all-in-one platforms, implementing effective business strategies, understanding strategic architecture, and assessing business opportunities and risks are expected to drive the demand for business architecture tools. ‘business. In addition, enterprise architecture tools also help and support data integration and facilitate better IT and strategic decisions thus driving market growth on a global scale.
Some of the challenges of market growth include data theft, data security, low availability of skilled workforce, and higher costs of tools, which are expected to hamper the market growth. In recent years, data theft has increased and the average cost of a data breach was estimated to be around $ 3.92 million in 2019. Thus, companies should deploy a variety of software to reduce data theft and increase security. Additionally, with advancements in technology and vendors investing in enterprise tools, companies should mitigate flaws in integrating architectural tools. This is expected to increase market growth despite the challenges.
To be competitive, market players use differentiation techniques and focus on introducing new products. For example, in September 2020, Mega International introduced HOPEX V4, which included HOPEX 360 (a new company portal), risk management, IT business management and information architecture. In addition, collaborations, partnerships, mergers and acquisitions are also expected to help companies gain market share and increase investment in the enterprise architecture tools market. For example, in August 2020, Software AG and the Emirates Integrated Telecommunications Company (EITC) collaborated to provide a subscription-based licensing model for IoT services to their corporate customers. The companies were able to solve the challenges of incorporating IoT for UAE businesses through this partnership.
Highlights of the Enterprise Architecture Tools Market Report
The security architecture segment is expected to experience significant growth during the forecast period. The growing number of data threats is expected to lead to the deployment of more security architectures, as they include tools, technologies, and processes used to protect an organization from external threats.
The cloud segment is expected to grow at the highest CAGR from 2021 to 2028. The popularity of cloud technology among cost-sensitive customers and small and medium-sized businesses is expected to drive the adoption of cloud enterprise architecture tools.
The small and medium business segment is expected to register the highest CAGR from 2021 to 2028. Factors such as the growing number of vendors and the demand for business-focused tools and solutions have driven adoption by SMEs.
Healthcare segment is expected to become the fastest growing end-use segment during the forecast period. Maximizing the benefits of ICT, integrating resources, integrating data and reducing unnecessary costs are the key factors in the growth of the healthcare segment
Asia-Pacific is expected to become the fastest growing regional market during the forecast period. China, Japan and India are the key countries characterized by the maximum deployment of architecture tools in organizations. The growing adoption of enterprise architecture tools among enterprises to implement effective business strategies in various business tasks and practices is expected to drive the market growth in the Asia-Pacific region
For more information on this report, visit https://www.researchandmarkets.com/r/yci0cs
See the source version on businesswire.com: https://www.businesswire.com/news/home/20211020005462/en/
Laura Wood, Senior Press Director
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