Business Software and Services Market: Global Industry Analysis and Outlook 2027

Business Software and Services Market size was valued at US$ 389.86 Bn. in 2020 and the total revenue is expected to grow at 11.32% through 2021 to 2027, reaching nearly US$ 825.89 Bn.

Business Software and Services Market Overview:

Business software and Services refers to software that is specifically designed for analysing business data to understand the strengths and weaknesses of an organization. This software is used in businesses to boost income by analysing a company's needs and evaluating the success of its current policies. Business Software and Services Market To know about the Research Methodology :- Request Free Sample Report 2020 is considered as a base year to forecast the market from 2021 to 2027. 2020’s market size is estimated on real numbers and outputs of the key players and major players across the globe. Past five years trends are considered while forecasting the market through 2027. 2020 is a year of exception and analysed specially with the impact of lockdown by region.

Business Software and Services Market Dynamics:

The technology, telecommunications, and media industries are undergoing significant changes in how they sell and distribute their products and services, which has fueled market growth. Customers are increasingly expecting scalable, flexible, and secure consumption of services ranging from media content to technology infrastructure and business software solutions. Various organisations throughout the world are expanding their operations in order to serve a wider market, which is fueling the demand for business software and services within businesses. Due to benefits such as flexibility, cost-effectiveness, and mobility, the growing use of cloud-based platforms has sparked demand for cloud-based software solutions and services among small and medium-sized businesses. Data backup, data protection, and system upgrades are just a few of the cloud-based services available. Furthermore, the market is estimated to increase due to the rising usage of innovative technologies such as blockchain, hybrid architecture, artificial intelligence, and machine learning over the forecast period. Furthermore, artificial intelligence has begun to devour fields, raising the threshold for global automation. Because they facilitate the simplification of corporate operations, enterprise software and services are widely utilised in end-use industries such as BFSI, government, healthcare, manufacturing, and retail. To accomplish data privacy and security goals, the software and services provide easy and quick access to unstructured data obtained through data analytics. Additionally, the implementation of enterprise solutions leads in significant reductions in raw material and inventory costs, allowing businesses to boost their profitability. Many businesses are implementing these solutions to improve operational efficiency by combining administrative systems into a single programme. However, the high cost of software and services is a major factor that is expected to be a key barrier for the total market. Furthermore, a scarcity of skilled labour is a key major impediment to the market's total growth.

Covid-19 Impact:

The COVID-19 pandemic is expected to have a positive impact on the commercial software and services business. According to an NTT Ltd. analysis commissioned by International Data Group, Inc. (IDG), the standardisation of the work-from-home paradigm within the local and global quarantine environment has enhanced demand for value-added services for mitigating security issues. For a variety of services and solutions, businesses all over the world have resorted to business software and service providers, and this trend is estimated to continue during forecast period. Due to the economic uncertainty induced by COVID-19, many corporate software and service vendors are anticipated to place a greater emphasis on customer-service-driven solutions, such as proactive help in customers' digital journeys. Business Software and Services Market 1

Global Business Software and Services Market Segment Analysis:

The Global Business Software and Services Market is segmented by Software, Service, Organization Size, Deployment and Vertical. Based on the Service, the global Business Software and Services market is sub-segmented into Consulting, Managed Services and Support & Maintenance. The Support & Maintenance segment held the largest market share of 42% in 2020. This growth can be attributed to the high popularity of business management systems and the development of software models for detecting and resolving product quality concerns. Over the forecast period, the increased demand for third-party support & infrastructure projects, owing to their cost-effectiveness, as well as for well-trained and experienced experts, is expected to push the segment's growth. Business Software and Services Market 2 Based on the Deployment, the global Business Software and Services market is sub-segmented into Cloud and On-premise. The On-premise segment held the largest market share of 62% in 2020. The growing population and preferences of organizations for various enterprise software and services that allow for adaptation of software as per the customers' requirements is expected to drive demand for on-premise deployment throughout the forecast period. Cloud services are widely used in the global market since they eliminate the need for manual upgrades in businesses and allow users to easily access data from remote locations. Cloud-based services enable businesses to use and pay for only the resources they require, reducing energy usage and increasing efficiency. Business Software and Services Market 3 Based on the Vertical, the global Business Software and Services market is sub-segmented into Aerospace & Defense, BFSI, Government, Healthcare, IT & Telecom, Manufacturing, Retail, Transportation and Others. The BFSI segment held the largest market share of 15.2% in 2020. This growth can be ascribed to the increased deployment of business software, which provides benefits such as digital encryption and constant access to client databases, as well as improved client service. Additionally, the growing digitization of banking institutions in order to provide a better client experience is expected to fuel demand for business software and services in the BFSI sector.

Global Business Software and Services Market Regional Insights:

North America held the largest market share of 22% in 2020. The increased demand for high-speed data networks, as well as the presence of software vendors in the region, might be contributed to this growth. In comparison to other regions, North American companies are putting more emphasis on generating unique analytics and intelligence solutions, as well as implementing software and analytics-based initiatives. Computer scientists, data analysts, and software engineers who work with corporate solutions and services can be found in great numbers in Canada, thanks to the country's well-educated workforce. Europe held the 2nd largest market share of xx% in 2020. The increase of the regional market is being driven by significant investments by large firms and the adoption of new technologies across industries and enterprises. The European region's need for enterprise solutions is likely to rise as a result of a focus on cloud-based facilities and endeavors to develop corporate intelligence solutions. The objective of the report is to present a comprehensive analysis of the global Business Software and Services Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The reports also helps in understanding the global Business Software and Services Market dynamic, structure by analyzing the market segments and project the global Business Software and Services Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global Business Software and Services Market make the report investor’s guide.

Global Business Software and Services Market Scope: Inquire before buying

Global Business Software and Services Market
Report Coverage Details
Base Year: 2020 Forecast Period: 2021-2027
Historical Data: 2016 to 2020 Market Size in 2020: US $ 389.86 Bn.
Forecast Period 2021 to 2027 CAGR: 11.32% Market Size in 2027: US $ 825.89 Bn.
Segments Covered: by Software • Finance • Sales & Marketing • Human Resource • Supply Chain • Others
by Service • Consulting • Managed Services • Support & Maintenance
by Organization Size • Small and Medium-sized Enterprises (SMEs) • Large enterprises
by Deployment • Cloud • On-premise
by Vertical • Aerospace & Defense • BFSI • Government • Healthcare • IT & Telecom • Manufacturing • Retail • Transportation • Others

Global Business Software and Services Market, by Region

• North America • Europe • Asia Pacific • South America • Middle East and Africa

Global Business Software and Services Market Key Players

• Acumatica, Inc. • Dassault SystèmesSE • Deltek, Inc. • Epicor Software Corp. • Infor Inc. • MicroStrategy Inc. • NetSuite Inc. • Oracle Corp. • Qlik Technologies, Inc. • Salesforce.com, Inc. • SAS Institute, Inc. • SYSPRO • Tableau Software, Inc. • TIBCO Software Inc. • Totvs SA • Unit4 N.V. • SAP SE

Frequently Asked Questions:

1] What segments are covered in Business Software and Services Market report? Ans. The segments covered in Business Software and Services Market report are based on Software, Service, Organization Size, Deployment and Vertical. 2] Which region is expected to hold the highest share in the global Business Software and Services Market? Ans. North America is expected to hold the highest share in the global Business Software and Services Market. 3] What is the market size of global Business Software and Services Market by 2027? Ans. The market size of global Business Software and Services Market is expected to reach US $825.89 Bn. by 2027. 4] Who are the top key players in the global Business Software and Services Market? Ans. Acumatica, Inc., Dassault SystèmesSE, Deltek, Inc., Epicor Software Corp., Infor Inc. and MicroStrategy Inc. are the top key players in the global Business Software and Services Market. 5] What was the market size of global Business Software and Services Market in 2020? Ans. The market size of global Business Software and Services Market in 2020 was US $ 389.86 Bn.
1. Global Business Software and Services Market: Research Methodology 2. Global Business Software and Services Market: Executive Summary 2.1 Market Overview and Definitions 2.1.1. Introduction to Global Business Software and Services Market 2.2. Summary 2.1.1. Key Findings 2.1.2. Recommendations for Investors 2.1.3. Recommendations for Market Leaders 2.1.4. Recommendations for New Market Entry 3. Global Business Software and Services Market: Competitive Analysis 3.1 MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2 Consolidation in the Market 3.2.1 M&A by region 3.3 Key Developments by Companies 3.4 Market Drivers 3.5 Market Restraints 3.6 Market Opportunities 3.7 Market Challenges 3.8 Market Dynamics 3.9 PORTERS Five Forces Analysis 3.10 PESTLE 3.11 Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • Latin America 3.12 COVID-19 Impact 4. Global Business Software and Services Market Segmentation 4.1 Global Business Software and Services Market, by Software(2020-2027) • Finance • Sales & Marketing • Human Resource • Supply Chain • Others 4.2 Global Business Software and Services Market, by Service (2020-2027) • Consulting • Managed Services • Support & Maintenance 4.3 Global Business Software and Services Market, by Organization Size (2020-2027) • Small and Medium-sized Enterprises (SMEs) • Large enterprises 4.4 Global Business Software and Services Market, by Deployment (2020-2027) • Cloud • On-premise 4.5 Global Business Software and Services Market, by Vertical (2020-2027) • Aerospace & Defense • BFSI • Government • Healthcare • IT & Telecom • Manufacturing • Retail • Transportation • Others 5. North America Business Software and Services Market(2020-2027) 5.1 Global Business Software and Services Market, by Software(2020-2027) • Finance • Sales & Marketing • Human Resource • Supply Chain • Others 5.2 Global Business Software and Services Market, by Service (2020-2027) • Consulting • Managed Services • Support & Maintenance 5.3 Global Business Software and Services Market, by Organization Size (2020-2027) • Small and Medium-sized Enterprises (SMEs) • Large enterprises 5.4 Global Business Software and Services Market, by Deployment (2020-2027) • Cloud • On-premise 5.5 Global Business Software and Services Market, by Vertical (2020-2027) • Aerospace & Defense • BFSI • Government • Healthcare • IT & Telecom • Manufacturing • Retail • Transportation • Others 5.6 North America Business Software and Services Market, by Country(2020-2027) • United States • Canada • Mexico 6. Asia Pacific Business Software and Services Market (2020-2027) 6.1. Asia Pacific Business Software and Services Market, by Software (2020-2027) 6.2. Asia Pacific Business Software and Services Market, by Service (2020-2027) 6.3. Asia Pacific Business Software and Services Market, by Organization Size(2020-2027) 6.4. Asia Pacific Business Software and Services Market, by Deployment (2020-2027) 6.5. Asia Pacific Business Software and Services Market, by Vertical(2020-2027) 6.6. Asia Pacific Business Software and Services Market, by Country(2020-2027) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 7. Middle East and Africa Business Software and Services Market (2020-2027) 7.1 Middle East and Africa Business Software and Services Market, by Software(2020-2027) 7.2. Middle East and Africa Business Software and Services Market, by Service (2020-2027) 7.3. Middle East and Africa Business Software and Services Market, by Organization Size(2020-2027) 7.4. Middle East and Africa Business Software and Services Market, by Deployment (2020-2027) 7.5. Middle East and Africa Business Software and Services Market, by Vertical(2020-2027) 7.6. Middle East and Africa Business Software and Services Market, by Country(2020-2027) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 8. Latin America Business Software and Services Market (2020-2027) 8.1. Latin America Business Software and Services Market, by Software(2020-2027) 8.2. Latin America Business Software and Services Market, by Service (2020-2027) 8.3. Latin America Business Software and Services Market, by Organization Size(2020-2027) 8.4. Latin America Business Software and Services Market, by Deployment (2020-2027) 8.5. Latin America Business Software and Services Market, by Vertical(2020-2027) 8.6. Latin America Business Software and Services Market, by Country(2020-2027) • Brazil • Argentina • Rest Of Latin America 9. European Business Software and Services Market (2020-2027) 9.1. European Business Software and Services Market, by Software (2020-2027) 9.2. European Business Software and Services Market, by Service (2020-2027) 9.3. European Business Software and Services Market, by Organization Size (2020-2027) 9.4. European Business Software and Services Market, by Deployment (2020-2027) 9.5. European Business Software and Services Market, by Vertical(2020-2027) 9.6. European Business Software and Services Market, by Country(2020-2027) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 10. Company Profile: Key players 10.1. Acumatica, Inc. 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2. Dassault Systèmes SE 10.3. Deltek, Inc. 10.4. Epicor Software Corp. 10.5. Infor Inc. 10.6. MicroStrategy Inc. 10.7. NetSuite Inc. 10.8. Oracle Corp. 10.9. Qlik Technologies, Inc. 10.10. Salesforce.com, Inc. 10.11. SAS Institute, Inc. 10.12. SYSPRO 10.13. Tableau Software, Inc. 10.14. TIBCO Software Inc. 10.15. Totvs SA 10.16. Unit4 N.V. 10.17. SAP SE

About This Report

Report ID 102539
Category Information Technology & Telecommunication
Published Date May 2021
Updated Date Dec 2021
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