According toa research report "Enterprise Architecture Tools Market by Component(Solutions and Services (Managed Services and Professional Services)),Deployment Type, Organization Size, Vertical (BFSI, IT, Manufacturing), andRegion - Global Forecast to 2026" The global Enterprise architecture toolsmarket size is expected to grow from USD 989 million in 2020 to USD 1,283million by 2026, at a Compound Annual Growth Rate (CAGR) of 4.4% during theforecast period. Key factors that are expected to drive the growth of themarket are the increasing adoption of the business-driven enterprisearchitecture approach for strategic business transformation and an increasingneed to align enterprise information technology architecture with businessstrategy.
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Solutionssegment to hold a larger market size during the forecast period
Based onsolutions, the enterprise architecture tools market is segmented intoinfrastructure architecture, application architecture, data architecture,security architecture, and others. These solutions assist in increasingcollaboration and improving workflow environments to accelerate productivity.Major reasons behind the decline of enterprise architecture tool solutionsacross the globe are reduced profit margins and less allocation of IT budgets.These reasons lead to low investments in new subscriptions. The demand forconsulting, integration, and implementation services has also decreased withlow technology spending on new subscriptions. These trends are expected todecrease the demand for enterprise architecture tools solutions.
SMEssegment to grow at the highest CAGR during the forecast period
SMEs aredefined as organizations with an employee strength ranging from 1 to 1,000.SMEs have a low marketing budget and often lack the resources and capabilitiesfor effective marketing orchestration. The majority of SMEs are prone tocyberattacks compared to large enterprises due to the lack of securityinfrastructure. According to a survey, nearly 43% of cyberattacks occur insmall enterprises. Hence, SMEs need robust infrastructure to fight againstcyberattacks and avoid data loss and downtime. The IT spending in the SMEssegment is estimated to increase at a high rate.
BFSIindustry vertical to grow at the highest CAGR during the forecast period
The BFSIinstitutions are facing challenges due to changing business environment. Theadvent of advanced technologies will play a crucial role in the growth of theBFSI vertical. Digital technologies have enabled banking customers to accessreal-time banking and financial information services on any device. Thefinancial crisis, changing customer behavior, increased risk awareness, focuson cost reduction, and the entrance of new financial players are some of thefactors behind the changing landscape in the BFSI vertical.
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NorthAmerica to account for the highest market share during the forecast period
NorthAmerica is estimated to hold the largest market size in the global enterprisearchitecture tools market in 2020, and the trend is expected to continue duringthe forecast period. The region is at a growth stage due to several playersoffering enterprise architecture solutions and services. Organizations shiftingtoward the adoption of emerging technologies and the increasing adoption ofdigital business strategies are the major factors for the adoption ofenterprise architecture tools offerings in North America. Enterprisesincreasing budget allocations for cloud services are expected to drive themarket in North America.
Theenterprise architecture tools market comprises major providers, such asSoftware AG (Germany), Avolution (Australia), BiZZdesign (Netherlands), MEGAInternational (France), BOC Group (US), Orbus Software (UK), QualiWare(Denmark), Leanix (Germany), erwin (US), Sparx Systems (Australia), ValueBlue(Netherlands), UNICOM Global (US), Clausmark (Germany), Enterprise ArchitectureSolutions (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 anin-depth competitive analysis of key players in the enterprise architecturetools market with their company profiles, recent developments, COVID-19developments, and key market strategies.
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