ICT is the most dynamic segment which is looking bullish for future on the back of various key motivators. This segment is mainly led by the growing consumer and enterprise needs. Not only in one field, but also IT has penetrated in many other segments such as healthcare and telecommunication. With the growing corporate competition, the enterprises are always looking for faster and economic software to ensure fast functioning. IT also plays an important role in this segment. In our Enterprise IT market research reports, we are focusing on the global team communication including software such as ERP, MIS etc which are in demand for improving the functioning of an enterprise.
This has also ramped up the usage of SaaS based applications. In the recent years, the usage of SaaS based applications has increased fivefold as compared to the past. Enterprise IT has a positive outlook and it is likely to move ahead with a CAGR of 17.6% for the forecast years (2015-2021). It is expected that this enterprise application market will soar much higher in the upcoming years. Further in our enterprise IT market trend analysis, the SaaS applications are likely to affect 27.8% of the entire enterprise application market by 2021.
Our IT industry growth analysis further reveals concrete signals for good growth in the overall market. Market topline is also estimated to grow by CAGR of 16.6% to $50.8 billion. But there are some headwinds that SaaS application or enterprise market is facing. It is facing problem with the distribution. Enterprises always opt for economic solutions. However, the companies are working closely to meet all the growing demand and overcoming the challenges that they are facing.