TECH SUPPLIER Aug 2020 - Market Forecast - Doc # EUR146771620

Nordic Enterprise Applications Forecast, 2020-2024

By: Martin SundbladResearch Manager

Abstract

This IDC Market Forecast examines the enterprise applications market, which is forecast to grow at a five-year CAGR of 4.7%. The market is expected to change significantly in the forecast period as the financial downturn has changed priorities and the underlying digital transformation. The market is expected to have sustained growth in the period, driven primarily by different use cases and new business models emerging from digital transformation, as well as by the need for intelligent automation, workplace transformation, and intuitive, personalized user experiences. Demand for cloud-based software continues, especially among small and midsize businesses.

"Digital transformation changes shape, but it continues to drive the modernization and rationalization of enterprise applications and processes. The COVID-19 pandemic has forced organizations to reprioritize in their change programs, but the underlying need for new, digital, and hybrid business models is strong, and the market for enterprise applications will continue to show strong growth," said Martin Sundblad, research manager, IDC.


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