GITNUX MARKETDATA REPORT 2024

Enterprise Search Industry Statistics

The enterprise search industry is expected to grow steadily, driven by increasing demand for efficient and scalable search solutions in businesses across various sectors and geographies.

Last Updated: June 22, 2024

Written & Summarized by: Jannik Lindner

How we write

In this post, we will explore key statistics and trends shaping the enterprise search industry. From the predicted compound annual growth rate (CAGR) to market size breakdowns by region and deployment type, these insights provide valuable understanding of the current landscape and future directions within this dynamic sector.

Statistic 1

"The compound annual growth rate (CAGR) of the enterprise search industry is predicted to go up to 23.5% by 2025."

Statistic 2

"The Global Enterprise Search Market accounted for $2.15 billion in 2019."

Statistic 3

"North America leads the enterprise search market with around 40% of the global share."

Statistic 4

"On-premise deployment accounts for a higher market share than cloud-based solutions in the enterprise search field as of 2020."

Statistic 5

"The enterprise search market in the APAC region is expected to grow at the highest CAGR during the forecast period."

Statistic 6

"Approximately 60% of companies believe enterprise search tools are necessary for internal data searching."

Statistic 7

"The high tech and telecom industries are expected to contribute the largest market share in the Enterprise Search Market."

Statistic 8

"More than 50% of businesses claim knowledge sharing is a major goal for implementing enterprise search solutions."

Statistic 9

"Detailed data management and the ability to provide relevant, personalized search results have been identified as the main drivers of the growth of enterprise search technologies."

Statistic 10

"Nearly 75% of large organizations have implemented some form of enterprise search system."

Statistic 11

"Among companies that have implemented an enterprise search solution, fewer than 20% measure the success of their search application."

Statistic 12

"The overall enterprise search solutions market categorized based on the end-user is dominated by the BFSI sector."

Statistic 13

"Search relevancy is the top reason companies cite for dissatisfaction with their current enterprise search platform."

Statistic 14

"Due to COVID-19, the compound annual growth rate (CAGR) of the enterprise search market is expected to increase by 3%."

Statistic 15

"The cloud-based enterprise search market is expected to grow at a CAGR of 19.7% from 2020 to 2025."

The enterprise search industry is experiencing significant growth, with a predicted compound annual growth rate (CAGR) of 23.5% by 2025. North America leads the market currently, but the APAC region is expected to show the highest CAGR in the forecast period. On-premise deployment still dominates over cloud-based solutions, despite the latter’s projected growth rate. Companies recognize the importance of enterprise search tools for internal data searching, with detailed data management and personalized search results identified as key drivers of growth. However, there are challenges, such as insufficient measurement of search application success and dissatisfaction with search relevancy. Overall, the sector is poised for expansion, particularly within high tech and telecom industries and the BFSI sector, as businesses increasingly prioritize knowledge sharing and effective search capabilities in the era of digital transformation and remote work.