Luton, Bedfordshire, United Kingdom, Feb. 27, 2023 (GLOBE NEWSWIRE) -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Enterprise Architecture Tools Market.
The global Enterprise Architecture Tools Market is expected to witness a compound annual growth rate of 4.5% from 2023 to 2029 to reach USD 1427 million by 2029.
Market Overview:
Enterprise Architecture Tools Market are software applications used to manage and analyse an organization's overall IT infrastructure, systems, applications, and processes. These tools are designed to help organizations align their business objectives with their IT capabilities, identify areas for improvement, and optimize their IT investments.
The global enterprise architecture tools market has been experiencing steady growth over the past few years, and it is expected to continue growing at a significant pace in the coming years. According to a report by Exactitude Consultancy, the Enterprise Architecture Tools Market size is expected to grow from USD 853 million In 2022 to USD 1427 million by 2029, at a compound annual growth rate (CAGR) of 4.5% during the forecast period.
The growth of the enterprise architecture tools market can be attributed to several factors, including the increasing adoption of cloud computing, the need for better IT governance and compliance, the growing demand for digital transformation, and the need for better collaboration and communication between IT and business stakeholders.
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Enterprise Architecture Tools Market Growth Dynamics
Driver: Increasing adoption of a business-driven enterprise architecture approach for strategic business transformation
An overarching view of a comprehensive IT strategy is provided by enterprise architecture. It aids in improving long-term decision-making and directs in choosing the optimum deployment choice from a variety of available routes. A business-driven enterprise architecture approach can assist in addressing many essential activities for an organization and recommending the optimal course of action. Organizations need new strategies and techniques to be competitive in a new commercial and economic climate.
Moreover, time is saved and pipeline projects are completed more rapidly when using a business-driven enterprise architecture strategy. Businesses are concentrating on their operational requirements in order to better manage the application portfolio and integrate operational requirements with the IT department as a whole. As a result, the market for enterprise architecture tools Market is anticipated to be driven by the growing use of a business-driven enterprise architecture strategy for strategic business transformation.
Data thief activity is on the rise, and data security is a problem.
Database-stored enterprise data is accessible to Enterprise Architecture Tools Market. This data aids in modeling business architecture and contains information about an organization that dates back ten years. Attackers will target data access because of the value of data. As an illustration, consider the 2017 Equifax data breach, in which the personal information of 143 million clients as well as the credit card information of 209,000 consumers was exposed.
An enterprise architecture tool's first priority is to secure the data. It must concentrate on how data is kept, accessed, and utilized. Laws like the Electronic Communications Privacy Act (ECPA) and the General Data Protection Regulation (GDPR) hold the enterprise architecture tool market liable for data protection. When it comes to data exchange and accessibility, businesses are cautious. Hence, producers of business architecture tools must uphold the highest standards of security and privacy. One of the most crucial elements for efficient corporate operations is cybersecurity. Data leaks and cyberattacks have significantly increased in recent years. From 2016 to 2017, there was a 600% rise in cyberattacks. So, it is anticipated that rising data theft activities and data security issues will impede the growth of the global market for enterprise architecture tools.
Opportunity: enhancing enterprise architecture tools Market with big data capabilities
Organizations' understanding and use of the expanding amount, velocity, diversity, and value of corporate data are being impacted by big data. In order to speed and enhance their emphasis on projects that assist drive and expand the company, businesses are taking measures to analyze and use the diverse data they already have. Business transformation and the highest return on investment would arise from the enterprise architecture tools' use of big data capabilities to help the company target the appropriate market activities and fine-tune marketing, sales, and business operations. Big data can help architects pursue ideas when the results are uncertain. Enterprise architecture solutions are expected to give organizations the flexibility to adapt quickly and appropriately when opportunities occur. As a result, integrating big data capabilities to enterprise design tools will present plenty of opportunities for providers of those solutions.
Problem: Expensive and lacking in technical knowledge
Enterprise architecture tool license fees are based on the modules and features selected as well as the number of users. Power users, content creators, and content consumers are the three main categories of users. There are increased license fees as a result of the complicated pricing structure. SMEs cannot afford the enterprise architecture tools Market due to their high cost. Because of this, many customers only sometimes use enterprise architecture tools. The underutilization of all the features and applications of the instruments for business planning and the implementation of plans will also be caused by a lack of technical skills. Thus, it is anticipated that enterprise architectural tool suppliers will face challenges due to high pricing and a lack of technical skills.
Browse Full Reports Link of Enterprise Architecture Tools Market:
https://exactitudeconsultancy.com/reports/2224/enterprise-architecture-tools-market/
Enterprise Architecture Tools Market Report Scope:
| Report Metric | Details |
| Market Revenue in 2022 | USD 853 million |
| Estimated Value by 2029 | USD 1427 million |
| Growth Rate | CAGR of 4.5% |
| Market size available for years | 2023–2029 |
| Base year considered | 2022 |
| Forecast period | 2023–2029 |
| By Component |
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| By Deployment |
|
| By Organization Size |
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| By End Use |
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| Competitive Keys | Dell Technologies, Inc. (Erwin, Inc.), Software AG, Linde PLC (BOC Group), BiZZdesign, Mega International S.A., Orbus Software (SilverTree Equity), Qualiware ApS, LeanIX GmbH, Sparx Systems Pty. Ltd., and Avolution Pty. Ltd. |
| Geographies covered |
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This research report categorizes the Enterprise Architecture Tools Market based on component, deployment type, organization size, vertical, and region.
The Enterprise Architecture Tools Market is continuously evolving and witnessing several recent developments. Some of the notable developments in the market include:
The emergence of Cloud-Based Enterprise Architecture Tools: With the increasing adoption of cloud computing, there has been a growing demand for cloud-based enterprise architecture tools. These tools offer several benefits, including scalability, flexibility, and cost-effectiveness. Key players in the market, such as IBM, Software AG, and LeanIX, are now offering cloud-based enterprise architecture tools Market to cater to this demand.
Integration with DevOps and Agile: There has been an increasing trend towards integrating enterprise architecture with DevOps and Agile methodologies to ensure faster delivery of applications and services. This has led to the development of new enterprise architecture tools Market that is designed to work seamlessly with DevOps and Agile processes. For example, MEGA International has launched a new tool called HOPEX DevOps that enables organizations to integrate enterprise architecture with DevOps processes.
Use of Artificial Intelligence (AI) and Machine Learning (ML): AI and ML are increasingly being used in the enterprise architecture tools Market to help organizations automate and optimize their IT processes. For example, Sparx Systems has introduced a new tool called Prolaborate that uses AI to automate the process of creating enterprise architecture diagrams.
In summary, the enterprise architecture tools market is witnessing several recent developments, including the emergence of cloud-based tools, integration with DevOps and Agile, the use of AI and ML, adoption of open-source tools, and increased focus on security and compliance. These developments are expected to shape the future of the enterprise architecture tools market and help organizations achieve their business objectives more efficiently and effectively.
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