Enterprise Architecture Tools Market Growth, Opportunities Business Scenario, Share, Growth Size, Scope, Key Segments and Forecast to 2026
The global Enterprise Architecture Tools Market size is expected to grow from USD 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.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=147467618
Solutions segment to hold a larger market size during the forecast period
Based on solutions, the enterprise architecture tools market is segmented into infrastructure architecture, application architecture, data architecture, security architecture, and others. These solutions assist in increasing collaboration and improving workflow environments to accelerate productivity. Major reasons behind the decline of enterprise architecture tool solutions across the globe are reduced profit margins and less allocation of IT budgets. These reasons lead to low investments in new subscriptions. The demand for consulting, integration, and implementation services has also decreased with low technology spending on new subscriptions. These trends are expected to decrease the demand for enterprise architecture tools solutions.
SMEs segment to grow at the highest CAGR during the forecast period
SMEs are defined as organizations with an employee strength ranging from 1 to 1,000. SMEs have a low marketing budget and often lack the resources and capabilities for effective marketing orchestration. The majority of SMEs are prone to cyberattacks compared to large enterprises due to the lack of security infrastructure. According to a survey, nearly 43% of cyberattacks occur in small enterprises. Hence, SMEs need robust infrastructure to fight against cyberattacks and avoid data loss and downtime. The IT spending in the SMEs segment is estimated to increase at a high rate. However, in 2020, due to COVID-19 the demand for enterprise architecture tools have been reduced by SMEs. Reduced IT spending across SMEs, which led to low spending on new software and solutions. Further, the high cost associated with the enterprise architecture tools is another reason, which led to reduced demand for the solutions and services during a pandemic.
Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=147467618
Unique Features in Enterprise Architecture Tools Market:
The market for enterprise architecture tools offered special characteristics that were critical for streamlining organisational structures, technological strategies, and company operations. These tools provided comprehensive visualisations that assisted stakeholders in understanding the complex connections between different business units, procedures, and technological advancements.
The tools’ ability to link technological projects to organisational goals and improve decision-making was a major feature. Additionally, standardisation was stressed, driving consistency in the creation of IT solutions through templates and best practises.
As a result of these tools’ ability to simulate the effects of changes and support efficient migration procedures, change management was eased. They made a positive impact on proactive risk management by identifying dependencies and weaknesses. By visualising data flows and communication channels, integration and interoperability were encouraged, improving organisational data sharing.
By giving insights into application lifecycles, enterprise architecture tools helped IT portfolio management, and roadmapping capabilities helped IT evolution fit with business priorities. By providing shared forums for architectural discourse, collaboration was improved. Modelling and monitoring compliance requirements addressed compliance and governance.
Major Highlights of the Enterprise Architecture Tools Market:
Major developments in the market for enterprise architecture tools were changing organisational strategies and operations. These technologies distinguished themselves by offering thorough visualisation capabilities that helped users understand intricate architecture relationships.
As these tools connected technological initiatives to business objectives, improving decision-making, strategic alignment assumed centre stage. The market acknowledged their contribution to standardisation enforcement, impact modeling-enabled change management, and vulnerability-based risk management.
An important highlight was the promotion of integration and interoperability through the mapping of data flows and communication channels. Enterprise architecture tools facilitated team engagement, helped manage the IT portfolio, and produced technological roadmaps that were in line with business priorities.
Inquire Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=147467618
Top Key Companies in Enterprise Architecture Tools Market:
The enterprise architecture tools market comprises major 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.
The players in this market have embraced different strategies to expand their global presence and increase their market shares. New product launches and enhancements, partnerships, merger and acquisitions, have been the most dominating strategies adopted by the major players from 2018 to 2021, which helped them strengthen their offerings and broaden their customer base.
Software AG was founded in 1969 and is headquartered in Darmstadt, Germany. The company offers various solutions for enterprise architecture tools, such as Alfabet and Alfabet FastLane, along with managed services. It further operates through three business segments: Digital Business Platform, Adabas and Natural, and Professional Services. The Digital Business platform segment is engaged in the sale, marketing, and delivery of cloud and IoT solutions, such as webMethods, ARIS, Alfabet, Apama, and Terracotta product families. The Adabas and Natural segment is responsible for offering applications to run airlines, railways, freight services, manage warehouses, and logistics networks. The Professional Services segment provides planning, design, development, and deployment of digital applications.
Avolution is one of the prominent players in the enterprise architecture tools market. The company was established in 2001 and is headquartered in Sydney, Australia. It offers enterprise architecture tool capabilities through its solution, ABACUS. The company offers its enterprise architecture tool solution in on-premises, cloud-based, and hybrid deployment types, making it easy-to-use and faster-to-set up. The solution offers an Open Group Architecture Framework (TOGAF) and ArchiMate framework that helps in comparing and synchronizing future state architecture options for effective scenario analysis to speed data management and analysis.
Media Contact
Company Name: MarketsandMarkets™ Research Private Ltd.
Contact Person: Mr. Aashish Mehra
Email: Send Email
Phone: 18886006441
Address:630 Dundee Road Suite 430
City: Northbrook
State: IL 60062
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/enterprise-architecture-tools-market-147467618.html
