Enterprise Architecture Tools Market worth $1,283 million by 2026
According to a research report "Enterprise Architecture Tools Market by Component (Solutions and Services
(Managed Services and Professional Services)), Deployment Type, Organization Size, Vertical (BFSI, IT,
Manufacturing), and Region - Global 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.
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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 S