Business Software and Services Market Growth, Trends, Share, Size, Revenue and Future Scope
Business Software and Services Market Size- By Software, By Service, By Deployment, By Enterprise Size, By End User- Regional Outlook, Competitive Strategies and Segment Forecast to 2033
| Published: May-2023 | Report ID: IACT23105 | Pages: 1 - 245 | Formats*: |
| Category : Information & Communications Technology | |||
Business Software and Services Market Introduction and Overview
According to SPER Market Research, the Global Business Software and Services Market is estimated to reach USD 1677.08 billion by 2033 with a CAGR of 12.16%.
The report includes an in-depth analysis of the Global Business Software and Services Market, including market size and trends, product mix, distribution channels, and supplier analysis. Software designed expressly for analysing business data to identify the strengths and weaknesses of an organisation is referred to as business software. This programme analyses an organization's needs and assesses the effectiveness of its current policies in order to increase revenue growth.
- October 2022: The manufacturing industry's cloud-based enterprise resource planning (ERP) software "Epicor Kinetic" by Epicor has introduced a number of new capabilities.
- June 2020: In order to support end-to-end processes and aid organisations in hastening workflow and system modernization, IBM Corporation and SAP SE partnered to create and implement sophisticated intelligent industry solutions.
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Market Opportunities and Challenges
Business data analysis software, often known as business software, is used to pinpoint a company's advantages and weaknesses. This software is introduced into organisations to enhance organisational income development by determining the demands of the organisation and assessing the effectiveness of its current policies. Market opportunities are being driven by increasing enterprise data volumes and business process automation in industries including retail, manufacturing, and healthcare. The industry is also being boosted by the swift adoption of business software and services across IT infrastructure in order to improve profitability, save inventory costs, and improve decision-making.
Numerous challenges affect the development and functioning of the global market for business software and services. First of all, the rapid pace of technological advancement is a significant barrier. Software and service suppliers must constantly adapt to new technologies and shifting customer expectations in order to be relevant and competitive. Obsolescence and a loss of market share are possible consequences of failing to adapt to these developments. Second, the global market for business software and services has difficulties related to security and data privacy issues. Consumers and businesses alike anticipate that cyber risks and illegal access to their data would be reduced. The market needs to make significant security investments and follow data protection guidelines in order to earn client trust. Any privacy violation or data breach can have major repercussions, including harm to one's reputation and legal repercussions.
Market Competitive Landscape
The market exhibits a moderate level of fragmentation, with several major players, including Acumatica Inc, Deltek Inc, Epicor Software Corporation, Infor, International Business Machines Corporation, Microsoft Corporation, SAP SE, Oracle Corporation, TOTVS S.A, Thermo L.L.C, Tread Light Ltd, YETI Coolers LLC, Others. The demand for data-centric solutions and business software is growing along with the desire for mobility and data portability. To stay competitive in the market, market participants are pursuing a number of growth methods, including alliances, strategic partnerships and collaborations, mergers and acquisitions, and the creation of new goods. By integrating and optimising operations and providing a more seamless user experience, manufacturers can more effectively compete with rich industry-specific features and connected services.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2033 |
| Base year considered | 2022 |
| Forecast period | 2023-2033 |
| Segments covered | By Software, By Service, By Deployment, By Enterprise, By End Use |
| Regions covered | Asia-Pacific, Europe, Middle East and Africa, North America, Latin America |
| Companies Covered | Acumatica Inc, Deltek Inc, Epicor Software Corporation, Infor, International Business Machines Corporation, Microsoft Corporation, SAP SE, Oracle Corporation, TOTVS S.A, Thermo L.L.C, Tread Light Ltd, YETI Coolers LLC. |
COVID-19 Impact on Global Business Software and Services Market
The global pandemic of COVID-19 had a widespread impact on businesses across the world. Governments worldwide enforced strict lockdown measures and social distancing guidelines to curb the rapid spread of the virus. These measures led to the temporary closure of factories globally during the initial phases of the outbreak. Additionally, the subsequent economic downturn significantly delayed the resumption of commercial operations in the electronics industry. Small and medium-sized enterprises, which are vital to technology providers, experienced a substantial decline in revenue since the emergence of the pandemic in 2020. Market participants faced various challenges due to disruptions in the supply chain. However, the situation is expected to improve as more supplies become available in the near future.
Key Target Audience:
- Consulting Firms
- Cybersecurity Professionals
- Data Analysts
- Enterprises and Businesses
- Human Resources Professionals
- Investors and Venture Capitalists
- IT Departments
- Market Researchers
- Software Developers
- Supply Chain and Logistics Professionals
- System Integrators
- Technology Enthusiasts
- Others
Our in-depth analysis of the Business Software and Services Market includes the following segments:
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| By Service: |
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| By Deployment: |
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| By Enterprise: |
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Key Topics Covered in the Report:
- Global Business Software and Services Market Size (FY’2023-FY’2033)
- Overview of Global Business Software and Services Market
- Segmentation of Global Business Software and Services Market By Software (Finance, Sales & Marketing, Human Resource, Supply Chain, Others)
- Segmentation of Global Business Software and Services Market By Service (Consulting, Managed Services, Support & Maintenance)
- Segmentation of Global Business Software and Services Market By Deployment (Cloud, On-Premise)
- Segmentation of Global Business Software and Services Market By Enterprise Size (Large Enterprises, Small & Medium Enterprises)
- Segmentation of Global Business Software and Services Market By End Use (Aerospace & Defence, BFSI, Government, Healthcare, IT & Telecom)
- Statistical Snap of Global Business Software and Services Market
- Expansion Analysis of Global Business Software and Services Market
- Problems and Obstacles in Global Business Software and Services Market
- Competitive Landscape in the Global Business Software and Services Market
- Impact of COVID-19 and Demonetization on Global Business Software and Services Market
- Details on Current Investment in Global Business Software and Services Market
- Competitive Analysis of Global Business Software and Services Market
- Prominent Players in the Global Business Software and Services Market
- SWOT Analysis of Global Business Software and Services Market
- Global Business Software and Services Market Future Outlook and Projections (FY’2023-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data2.1.2. Primary Data2.1.3. SPER’s internal database2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers4.1.2. Restraints4.1.3. Opportunities4.1.4. Challenges
4.2. COVID-19 Impacts of the Global Business Software and Services Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths5.1.2. Weaknesses5.1.3. Opportunities5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape5.2.2. Economic Landscape5.2.3. Social Landscape5.2.4. Technological Landscape5.2.5. Environmental Landscape5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers5.3.2. Bargaining power of buyers5.3.3. Threat of Substitute5.3.4. Threat of new entrant5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Global Business Software and Services Market Manufacturing Base Distribution, Sales Area, Product Type6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Business Software and Services Market
7. Global Business Software and Services Market, By Software (USD Million)
7.1. Global Business Software and Services Market Value Share and Forecast, By Software, 2023-20337.2. Finance7.3. Sales & Marketing7.4. Human Resource7.5. Supply Chain7.6. Others
8. Global Business Software and Services Market, By Service (USD Million)
8.1. Global Business Software and Services Market Value Share and Forecast, By Service, 2023-20338.2. Consulting8.3. Managed Services8.4. Support & Maintenance
9. Global Business Software and Services Market, By Deployment (USD Million)
9.1. Global Business Software and Services Market Value Share and Forecast, By Deployment, 2023-20339.2. Cloud9.3. On-Premise
10. Global Business Software and Services Market, By Enterprise (USD Million)
10.1. Global Business Software and Services Market Value Share and Forecast, By Enterprise, 2023-203310.2. Large Enterprises10.3. Small & Medium Enterprises
11. Global Business Software and Services Market, By End Use (USD Million)
11.1. Global Business Software and Services Market Value Share and Forecast, By End Use, 2023-203311.2. Aerospace & Defence11.3. BFSI11.4. Government11.5. Healthcare11.6. IT & Telecom11.7. Manufacturing11.8. Retail11.9. Transportation11.10. Others
12. Global Business Software and Services Market Forecast, 2019-2033 (USD Million)
12.1. Global Business Software and Services Market Size and Market Share
13. Global Business Software and Services Market, By Software, 2019-2023 (USD Million)
13.1. Global Business Software and Services Market Size and Market Share By Software (2019-2026)13.2. Global Business Software and Services Market Size and Market Share By Software(2027-2033)
14. Global Business Software and Services Market, By Service, 2019-2023 (USD Million)
14.1. Global Business Software and Services Market Size and Market Share By Service (2019-2026)14.2. Global Business Software and Services Market Size and Market Share By Service (2027-2033)
15. Global Business Software and Services Market, By Deployment, 2019-2023 (USD Million)
15.1. Global Business Software and Services Market Size and Market Share By Deployment (2019-2026)15.2. Global Business Software and Services Market Size and Market Share By Deployment (2027-2033)
16. Global Business Software and Services Market, By Enterprise Size, 2019-2023 (USD Million)
16.1. Global Business Software and Services Market Size and Market Share By Enterprise Size (2019-2026)16.2. Global Business Software and Services Market Size and Market Share By Enterprise Size (2027-2033)
17. Global Business Software and Services Market, By End Use, 2019-2023 (USD Million)
17.1. Global Business Software and Services Market Size and Market Share By End Use (2019-2026)17.2. Global Business Software and Services Market Size and Market Share By End Use (2027-2033)
18. Global Business Software and Services Market, By Region, 2019-2023 (USD Million)
18.1. Global Business Software and Services Market Size and Market Share By Region (2019-2026)18.2. Global Business Software and Services Market Size and Market Share By Region (2027-2033)18.3. Asia-Pacific
18.3.1. Australia18.3.2. China18.3.3. India18.3.4. Japan18.3.5. South Korea18.3.6. Rest of Asia-Pacific
18.4. Europe
18.4.1. France18.4.2. Germany18.4.3. Italy18.4.4. Spain18.4.5. United Kingdom18.4.6. Rest of Europe
18.5. Middle East and Africa
18.5.1. Kingdom of Saudi Arabia18.5.2. United Arab Emirates18.5.3. Rest of Middle East & Africa
18.6. North America
18.6.1. Canada18.6.2. Mexico18.6.3. United States
18.7. Latin America
18.7.1. Argentina18.7.2. Brazil18.7.3. Rest of Latin America
19. Company Profile
19.1. Acumatica Inc.
19.1.1. Company details19.1.2. Financial outlook19.1.3. Product summary19.1.4. Recent developments
19.2. Deltek Inc.
19.2.1. Company details19.2.2. Financial outlook19.2.3. Product summary19.2.4. Recent developments
19.3. Epicor Software Corporation
19.3.1. Company details19.3.2. Financial outlook19.3.3. Product summary19.3.4. Recent developments
19.4. Infor
19.4.1. Company details19.4.2. Financial outlook19.4.3. Product summary19.4.4. Recent developments
19.5. International Business Machines Corporation
19.5.1. Company details19.5.2. Financial outlook19.5.3. Product summary19.5.4. Recent developments
19.6. Microsoft Corporation
19.6.1. Company details19.6.2. Financial outlook19.6.3. Product summary19.6.4. Recent developments
19.7. SAP SE
19.7.1. Company details19.7.2. Financial outlook19.7.3. Product summary19.7.4. Recent developments
19.8. Oracle Corporation
19.8.1. Company details19.8.2. Financial outlook19.8.3. Product summary19.8.4. Recent developments
19.9. TOTVS S.A
19.9.1. Company details19.9.2. Financial outlook19.9.3. Product summary19.9.4. Recent developments
19.10. Thermo L.L.C
19.10.1. Company details19.10.2. Financial outlook19.10.3. Product summary19.10.4. Recent developments
19.11. Tread Light Ltd.
19.11.1. Company details19.11.2. Financial outlook19.11.3. Product summary19.11.4. Recent developments
19.12. YETI Coolers LLC.
19.12.1. Company details19.12.2. Financial outlook19.12.3. Product summary19.12.4. Recent developments
20. List of Abbreviations
21. Reference Links
22. Conclusion
23. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
Business Software and Services Market is projected to reach USD 1677.08 billion by 2033, growing at a CAGR of 12.16% during the forecast period.
Business Software and Services Market grew in market size from 2022. The Market is expected to reach USD 1677.08 billion by 2033, at a CAGR of 12.16% during the forecast period.
Business Software and Services Market CAGR of 12.16% during the forecast period.
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The North America region is anticipated to have the highest market share in the Business Software and Services Market.
The key players in the market include Companies Covered Acumatica Inc, Deltek Inc, Epicor Software Corporation, Infor, International Business Machines Corporation, Microsoft Corporation, SAP SE, Oracle Corporation, TOTVS S.A, Thermo L.L.C, Tread Light Ltd, YETI Coolers LLC.
Business software is a type of computer programme that assists organisations in performing activities more efficiently, such as inventory management and financial tracking. Business services, on the other hand, are professional services offered by professionals to firms in a variety of fields such as marketing or information technology.
Business Software and Services Market size is USD 1677.08 billion from 2023 to 2033.
Business Software and Services Market Segment is covered By Software, By Service, By Deployment, By Enterprise, By End Use.
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