• US: +1-408-610-2300
  • Toll Free: +1-866-831-4085
  • Login / Register
  • Home
  • » Software
  • » Business Software And Services Market Size, 2025 | Industry Report
Business Software And Services Market Size, 2025 | Industry Report

Business Software And Services Market Analysis Report By Software, By Service, By Deployment, By End Use, By Enterprise Size, By RegionAnd Segment Forecasts From 2019 To 2025

Report ID: MN17619681  |  Published: May 2020  |  No of Pages: 161
Format: Electronic (PDF)  |  Industry: Software  |  Publisher: Grand View Research

Industry Insights

The global business software and services market size was accounted for USD 322.91 billion, in 2018. It is anticipated to register a CAGR of 10.7% over the forecast period, 2019 - 2025. Rapid increase in voluminous enterprise data along with rising adoption of automation to enhance the business operations are the factors projected to propel the market growth.

Moreover, rising popularity of enterprise application solutions across IT industries to enhance the process for strategic decision-making, reduce the inventory carrying costs, strengthen the market position and improve profitability is anticipated to fuel the market growth over the forecast period.

U.S.business and services market

These software services find wide application across several end-user industries including manufacturing, government, BFSI, retail, and healthcare. They help in accessing the unstructured data collected through data analytics tools. This may help in achieving certain security aspects coupled with easing the cost-reduction process for inventories and raw materials. Therefore, organizations can improve their profitability ratios which is projected to drive the popularity of such software and services.

Moreover, these software and services help in centralizing the administrative system which, thereby, ensures accurate and real-time flow if inter-departmental information. This provides data transparency which enhances the efficiency of business operations. In addition, customized software are available and organizations can choose the software with desired specifications.

Licensing such software is a costly affair. Moreover, the service providers have to provide timely support to their consumers. These are the major forces for the growth of overall software and services market. The costs for software development are not included in licensing of software. However, support and maintenance costs are included in the standard cost of software. In addition, for maintaining such software, organizations have to bear extra costs.

Software Insights

In 2018, the finance software segment accounted for the largest revenue share of USD 60.67 billion across the global market. Major tools of financial management including budgeting, reporting, planning, and analysis are gaining high importance which is anticipated to boost the demand for financial management software. Moreover, in North America these software are widely used across the BFSI sector due to rising need for getting high operational efficiency and increasing concerns regarding risk compliance.

The human resource software segment is projected to attain the fastest growth from 2019 to 2025 owing to rising adoption of these software across the end-use industries. These software solutions help in computerizing and integrating the HR operations such as recruitment, training, and payroll. In addition, rising adoption of these HR solutions by various payroll associations like ASL Consulting, CADJPRO Payroll Solutions, ADP Canada, and Apex Time is expected to boost the software demand over the forecast period. This growth is attributed to the benefits provided by such software on organizational level.

The segment of sales & marketing software is projected to grow at a steady rate over the forecast period. This software provides useful insights such as company’s overall performance, its products and services, sales team at various locations, number of customers or clients, and other such insights.

Service Insights

Based on service, the market for business software and services is divided into support and maintenance, consulting, and managed services. The segment of support and maintenance services held the largest market share in 2018 due to rising adoption of business models that help in detecting and fixing the problems hampering the product quality.

The segment of consulting services is anticipated to attain the fastest growth from 2019 to 2025 owing to rising demand for several consulting services across different industries for analyzing potential growth opportunities and for minimizing risks related to several business operations.

Deployment Insights

Based on deployment, on-premise and cloud technologies are widely accepted by different industries across the globe. These technologies are gaining high popularity owing to availability of customized software that fulfill the specific requirement of different clients. This factor is anticipated to proliferate the growth of on-premise deployment segment from 2019 to 2025.

However, cloud services are gaining high popularity owing to easy accessibility of data even from remote places. Moreover, organizations are adopting cloud technologies in order to reduce their carbon footprints. In addition, these services ensure minimum wastage of available resources. Therefore, these technologies are sustainable alternatives for enhancing business processes and for improving operational efficiency.

Enterprise Size Insights

In 2018, the segment of large enterprises dominated the market for business software and services. Rising adoption of such solutions in large enterprises owing to using real time data compilation tools, process blueprints, and analytical engines is anticipated to further drive the market growth over the forecast period.

Moreover, this software solution aids the process of strategic decision making and helps in better allocation of resources. In addition, rising preference for boosting the automation capacities coupled with need for effective networking solutions are some of the major factors projected to impel the demand across the large enterprises sector.

Several government campaigns through social ad digital media, search engine marketing, and video marketing are projected to drive the demand for such solutions across the small and medium enterprise (SME) segment.   

End Use Insights

Based on end use, the global business software & services market is divided into healthcare, government, aerospace and defense, IT and telecom, transportation, manufacturing, and retail. In 2018, the BFSI segment accounted for the largest revenue share of USD 59 billion due to rising adoption of such solutions to provide certain benefits such as continuous access to database of clients and secure transactions. Moreover, rising demand for such solution to improve clients’ experience is anticipated to drive the market growth.

Europe business software and services market

The segment of IT and telecom sector is projected to grow significantly from 2019 to 2025. This growth is attributed to rising popularity of advance technologies and revaluating strategies in business operations. Many organizations are taking steps for business expansion to acquire larger market share and to serve the emerging markets. This is projected to propel the demand for such business solutions across various organizations over the forecast period.

Regional Insights

In 2018, North America dominated the market and accounted for the largest revenue share of USD 103.14 billion. This is attributed to rising demand for efficient software with high networking speed coupled with presence of key players in software development. Moreover, rising focus of majority of the companies in North America on developing and implementing analytical strategies and software is anticipated to drive the regional demand over the forecast period. Moreover, presence of large number of skilled computer professionals such as software engineers, computer scientists, and data analysts in Canada is anticipated to further proliferate the growth of regional market.

In 2018, Europe held the second-most position across the global market owing to rising adoption of emerging technologies and increasing investments of large enterprises in deploying such technologies. Moreover, rising focus on developing business intelligence by focusing on cloud services is anticipated to further fuel the market growth over the forecast period.

Business Software And Services Market Share Insights

Leading players operating in this industry include Deltek, Inc.; Acumatica, Inc.; Epicor Software Corporation; Infor Inc.; IBM Corporation; NetSuite Inc.; SAP SE; Microsoft Corporation; Oracle Corporation; SYSPRO; Unit4; and Totvs SA.

Rising requirement for data portability and mobility is projected to influence organizations to use integrated and centralized solutions, which is anticipated to drive the market growth. This helps in enhancing data transparency, thereby, helps in minimizing certain business complexities and improve profitability of the enterprise. These factors are expected to boost the demand for business software and solutions from 2019 to 2025. 

Report Scope

Attribute

Details

Base year for estimation

2018

Actual estimates/Historical data

2014 - 2017

Forecast period

2019 - 2025

Market representation

Revenue in USD Billion and CAGR from 2019 to 2025

Regional scope

North America, Europe, Asia Pacific, Latin America, and MEA

Country scope

U.S., Canada, Germany, U.K., India, Japan, China, and Brazil

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

15% free customization scope (equivalent to 5 analyst working days)

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization


Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of latest industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Million Insights has segmented the global business software and services market report based on software, service, deployment, enterprise size, end use, and region:

• Software Outlook (Revenue, USD Billion, 2019 - 2025)
    • Finance
    • Human Resource
    • Sales & Marketing
    • Supply Chain
    • Others

• Service Outlook (Revenue, USD Billion, 2019 - 2025)
    • Consulting
    • Managed Services
    • Support & Maintenance

• Deployment Outlook (Revenue, USD Billion, 2019 - 2025)
    • Cloud
    • On-Premise

• Enterprise Size Outlook (Revenue, USD Billion, 2019 - 2025)
    • Large Enterprises
    • Small & Medium Enterprises

• End Use Size Outlook (Revenue, USD Billion; 2019 - 2025)
    • Aerospace &Defense
    • BFSI
    • Government
    • Healthcare
    • IT & Telecom
    • Manufacturing
    • Retail
    • Transportation
    • Others

• Region Outlook (Revenue, USD Billion, 2019 - 2025)
    • North America
        • U.S.
        • Canada
    • Europe
        • Germany
        • U.K.
    • Asia Pacific
        • China
        • India
        • Japan
    • Latin America
        • Brazil
    • MEA

What questions do you have? Get quick response from our industry experts. Request More information
Key questions answered in the report include
key questions
We also offers customization on reports based on specific client requirement.
Request for Customization

Choose License Type

Research Assistance

Ryan Manuel
Ryan Manuel

Research Support Specialist, USA

  1. Phone: +1-408-610-2300
  2. Toll Free: +1-866-831-4085
  3. Email: [email protected]
  • World's largest premium report database
  • Transparent pre & post sale customer engagement model
  • Unparalleled flexibility in terms of rendering services
  • Safe & secure web experience
  • 24*5 Research support service
  • 100% Secure Payments
  • Our Promise
  • 100% Service Assurance
  • Market Monitoring
  • Service Flexibility
  • 24X5 Care available