Also , lack of skilled technical support staffing has been hindering the industrial growth in recent years . Availability of alternatives in the form of online search engines is expected to offer challenges in near future . Companies in various sectors are expected to invest in enterprise search applications . These investments come in the form of new implementations or updates . The various verticals where these applications are primarily expected to be implemented include banking , financial institutions , logistics , military , telecommunications , and healthcare , retail , energy , and government institutions . Increasing demand from these sectors provides great opportunities which in turn are expected to propel the overall market growth over the forecast period .
Banking and finance are anticipated to be the most lucrative industry in near future . Data sharing and interconnectivity is the major factor for driving the industry in the banking sector . Government and educational institutes are expected to show great opportunities over the forecast period on account of increasing use of intranet for data sharing . Healthcare sector has been using this technology to obtain information associated with critical treatment . Military , aerospace , media , entertainment and construction are other end use industries which offer significant prospects for enterprise search applications .
North America has been the major market on account of computerisation . The dominance is expected to continue with major demand from financial and government sector . High investments from the government have led to innovative solutions for various departments . Regional demand is followed by Asia-Pacific mainly on account of the high presence of emerging economies including India , China , and South Korea . Large scale implementation in the retail , banking , IT and telecommunication has propelled the demand in this region .
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Europe has shown a steady growth in recent however the market showed a decline owing the economic turmoil . Manufacturing sector provides great opportunities in Europe especially in countries such as Germany , France and Austria . South America and Africa is expected to witness a slow growth mainly on account of lack of IT infrastructure and absence or underdeveloped application industries .
Key players in the industry include IBM Corp , Polyspot & Sinequa Inc , Coveo Corp , HP Autonomy , Lucidworks , Esker Software Corp ., Perceptive Software Inc , Expert System Inc , Dassault Systemes Inc , and Marklogic Inc . Companies have been focusing on entering into a strategic collaboration in order to provide diverse market solutions and create their presence in niche markets .
Merger and acquisitions have been a recent trend seen in the market in order to increase the product portfolio and cater to untapped markets . In 2012 , IBM acquired Vivisimo with an intention to help customers in taking better decisions . OmniFind is an enterprise search service by IBM which provides enhanced capabilities .