Several enterprises in the industry have identified software as a service misconfiguration as a major challenge. Fill out the form to connect with a representative and learn more. SaaS applications are also known as Web-based software, on-demand software, or hosted software. This is a very good piece of work and will be very helpful to us going forward. The global big data security market is expected to grow from $27.55 billion in 2022 to $120.55 billion in 2032 at a CAGR of 15.91%. Click here. Clients will thus anticipate that the IT Solution Consultants they work with and the consulting firms they work with will emphasize digitalization and use technologies for digital transformation. As per the analysis, North America held a major Software as a Service market share due to the presence of key players in the region, owing to early adoption of technologies such as AI, IoT, robotics, and cloud. This requires the creation of real-time IT locations to facilitate the automation and autonomy of complex systems. Trends like 5G, Blockchain, AR, and AI, are likely to have an impact on the offerings of IT services. The presence of key SaaS platform providers, such as IBM Corporation, Oracle Corporation, and Microsoft Corporation contributes to the regions adoption of software as a service application. To listen to this podcast, change your analytics/performance cookie settings. Artificial intelligence (AI) market size worldwide in 2021 with a forecast until 2030 (in million U.S. dollars), Further details: The company has also caught up with cloud migration and is now one of the major cloud service providers. Please be sure to check your spam folder too. All rights reserved. DTTL (also referred to as "Deloitte Global") does not provide services to clients. The Internet gained prominence as a medium for purchasing software and undertaking commercial and social activities. These companies are acquiring small and local firms to expand their business presence and customer reach. They were deploying cloud-based solutions to ensure business continuity during the crisis. Service industries - Wikipedia 7 You can also purchase parts of this report. Furthermore, configuration of internal application setup is becoming a major challenge for security teams. Thus, lack of data security is expected to restrict the market growth. This paper examines a framework for managing the difficult relationship dynamics involved in realizing global projects. Software Development Services - The Tech-Savvy Guide Public cloud application services/software as a service (SaaS) end-user spending worldwide from 2015 to 2024 (in billion U.S. dollars). We provide actionable, objective insight to help organizations make smarter, faster decisions to stay ahead of disruption and accelerate growth. Fullwidth SCC. The healthcare segment is likely to lead the market. Additionally, more enterprises are shifting to hybrid cloud that makes use of on-premises solutions in accordance with public cloud solutions. At the same time, many are likely looking for ways to remain innovative and build a strong competitive position for the future. An Infographic Representation of Software as a Service (SaaS) Market, To get information on various segments, share your queries with us. The global claims processing software market is expected to grow from $36.19 billion in 2022 to $83.83 billion in 2032 at a CAGR of 8.76%. Gartner estimates that 2023 global IT spending will reach $4.6 trillion in 2023, a jump of 5.1% over 2022 spending. April 20, 2021. This market study has considered various Software as a Service solutions offered by players such as Alphabets Google Cloud Marketplace, Google Workspace, Amazon Elastic Compute Cloud by Amazon Inc., Microsofts Microsoft Cloud, Cloud Software as a Service Applications, Cloud Consulting Services, IBM Cloud Integration by IBM Corporation, and others. For instance, in July 2022, T-Mobile agreed to pay USD 350 million to settle multiple class-action suits in the US stemming from a data breach disclosed last year affecting tens of millions of people. Read More, Jul 11, 2023|Published by: IDC|USD 1,500, highlighting the importance of integrated modeling and simulation, low-code dashboards, and advanced manufacturing capabilities tied to the industrial metaverse. All rights reserved. Increasing Adoption of SaaS based Technologies in Hybrid Deployment to Gain Traction in Market. Many enterprises in the region have begun adhering to newer methods and processes to gain a competitive advantage, resulting in the increasing adoption of emerging technologies, like AI, IoT, machine learning (ML), Blockchain, robotics, and data science. Monday through Friday. | No Of Pages: 150, The global crowdsourced testing market size was valued at USD 1.33 billion in 2022 and is projected to grow from USD 1.45 billion in 2023 to USD 3.01 billion by 2030 Read More, The global confidential computing market size was valued at USD 3.71 billion in 2022 and is projected to grow from USD 7.26 billion in 2023 to USD 53.31 billion by 2 Read More, July, 2023 The current data-driven technologies are transforming processes to conduct business. 2023 technology industry outlook has been saved, 2023 technology industry outlook has been removed, An Article Titled 2023 technology industry outlook already exists in Saved items. To optimally utilize these data reserves, IT service providers must develop smart IT services and platforms to analyze the data for extraction and analysis. Mordor Intelligence's images may only be used with attribution back to Mordor Intelligence. Download Free Sample IT Services Market Analysis The IT services market is valued at USD 1,045.15 billion in the base year and is expected to grow at a CAGR of 8.38% during the forecast period to become USD 1,665.76 billion by the next five years. Software | Statista Your access and use of this publication are governed by Gartners Usage Policy. Adoption of Public and Hybrid Cloud-based Tools by Enterprises to Enhance Market Growth. Business Software and Services Market Size [2022-2028] To - GlobeNewswire The market is projected to record a CAGR of 18.7% during the forecast period of 2023-2030. COMPETITIVE LANDSCAPE Demand is driven by corporate spending. The market is projected to reach USD 908.21 billion by 2030. 8 Which is the key factor driving the market growth? Market Research Besides, the report offers insights into the latest market trends and highlights key industry developments. For businesses to enhance their daily operations and core functions, they heavily rely on enterprise software to remain competitive and agile. Varsha Mehta, 3 Financial Services and Investment Intelligence, Digital Transaction Management (DTM) Market, Argentina Satellite-based Earth Observation Market, Professional (System Integration and Consulting). I appreciate the timeliness and responsiveness of you and your team., The global Software as a Service (SaaS) market is projected to grow from $273.55 billion in 2023 to $908.21 billion by 2030, at a CAGR of 18.7%, 2020 Fortune Business Insights . The IT services market is valued at USD 1,045.15 billion in the base year and is expected to grow at a CAGR of 8.38% during the forecast period to become USD 1,665.76 billion by the next five years. Gartner is a registered trademark of Gartner, Inc. and its affiliates. IT Services and IT Consulting . | Base Year: 2022 expertise, problem solving ability and inclination. "Smart Strategies, Giving Speed to your Growth Trajectory", Region : Global | Format: PDF | Report ID: FBI102222. The proportion of IT spending shifting to cloud will accelerate through 2021, increasing the share of cloud spend in the software market. These models are typically either licensed or cloud based. Which is the leading industry in the market? The global desktop virtualization market size was valued at USD 18.67 billion in 2022 and is projected to grow from USD 22.63 billion in 2023 to USD 101.45 billion b Read More, July, 2023 Critical Capabilities: Analyze Products & Services, Digital IQ: Power of My Brand Positioning, Magic Quadrant: Market Analysis of Competitive Players, Product Decisions: Power Your Product Strategy, Cost Optimization: Drive Growth and Efficiency, Strategic Planning: Turn Strategy into Action, Connect with Peers on Your Mission-Critical Priorities, Peer Community: Connections, Conversations & Advice, Peer Insights: Guide Decisions with Peer-Driven Insights. This list does not necessarily mean that all the below companies are profiled in the report. | No Of Pages: 123, The global tax management software market size was valued at USD 14.14 billion in 2022 and is projected to grow from USD 15.89 billion in 2023 to USD 38.49 billion b Read More, July, 2023 These models are typically either licensed or cloud based. List of Top-Ranking Software Industry Trends Internet of Behavior Cloud-based solutions Highly secure Big Data Blockchain Continuous delivery Decision Intelligence Hyperautomation Low-code development Check the description of these technologies below to keep track of the most important new trends in software development! Cisco has worked closely with two leading ORAN vendors to incorporate ORAN technology into Cisco Private 5G, which has currently in customer trials with Airspan and JMA. The company secured USD 6.7 million in funding to scale the development of its solution. The report covered all the points and was very detailed. 2023. https://www.fortunebusinessinsights.com/software-as-a-service-saas-market-102222. This report studies the global Help Desk Ticketing System demand, key companies, and key regions. | Base Year: 2022 As digitalization deepens, businesses and activities will move to the cloud more and more, pushing SaaS even further to the forefront. Figures are from 2014 through 2022, with forecasts Read More, in-depth assessments of the industry in the United States with over 100+ data sets covering 2014-2027. The profitability of individual companies depends on Read More, Jul 20, 2023|Published by: IDC|USD 4,500, Amsterdam. What was the value of the global Software as a Service (SaaS) market in 2022? Further, this article also discusses the reasons why the US is way ahead of the rest of the world in . Report Overview The global software as a service (SaaS) market size was valued at USD 261.15 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 13.7% from 2023 to 2030. Privacy Policy. Analyses of global market trends, with data from 2016 and 2017, and projections of compound annual growth rates (CAGRs) through 2022. SIP Trunking Services Market 2023 Size, Status, Share and - LinkedIn 1 A surge in the volume of enterprise data, rising automation of business processes, and growing digitization are the major drivers of the market. Hardware & Software It Services Industry - Fortune Business Insights Get in touch with us. The categories included in Gartner's estimate are traditional IT components: Communications services, IT services, devices, software and data center systems. However, with the advancement in IT consultancy services, new players are increasing their market presence, thereby expanding their business footprint across emerging economies. | No Of Pages: 160, The global customer journey analytics market size was valued at USD 3.85 billion in 2022 and is projected to grow from USD 4.16 billion in 2023 to USD 8.34 billion b Read More, The global SoftPoS market size was valued at USD 248.5 million in 2022. In next place is Dropbox, used for cloud storage for collaboration, with a still impressive 66.2%, followed by OneDrive (39.35%), iCloud (38.89%), MEGA (5.09 %), Box (4.17%), and pCloud (1.39%). Paul is a partner with Deloitte & Touche LLP and leads Deloittes US Executive Accelerators (XA) in Client & Market Growth (CMG), and also serves as Vice Chair and Deloitte US Technology Sector Leader More. Do not delete! Market Players Announce Merger & Acquisition Strategies to Expand Reach. Rapid advancement in telemedicine technologies, such as video/audio conferencing, telesurgery, and teleradiology, will drive the adoption of cloud services. 2022Gartner, Inc. and/or its affiliates. Revenue and total expenses of leading software companies worldwide in 2020 (in billion U.S. dollars), Further details: Nanakramguda Rd, Financial District, Gachibowli. Exceptional organizations are led by a purpose. Various market vendors are driving their investments to accelerate digital transformation. | No Of Pages: 130, The global video on demand market size was valued at USD 82.77 billion in 2022 and market is projected to grow from USD 97.19 billion in 2023 to USD 304.74 billion b Read More, July, 2023 Thank you Fortune Business Insights for your efforts and prompt response, I had a great experience working with Fortune Business Insights. UK + 44 800 096 3997. The market research report provides a detailed market analysis. The best of the best: the portal for top lists & rankings: Strategy and business building for the data-driven economy: Software penetrates all aspects of our life in the information age: individuals and businesses rely on operating systems and applications to carry out daily tasks. Privacy Policy. Article (PDF-94 KB) In an age of regular technological disruption, for software companies, growing fast has become essential to survival. COMPETITIVE LANDSCAPE Demand is driven primarily by personal income and gamer demographics. Looking forward to work together in the future, It has been a delightful experience working with you guys. With an improved IT infrastructure, threats related to data (data breaches) are also on the rise. Cloud services help medical professionals gain real-time health data insights and minimize the complexities within an IT system with simplified storage solutions. Industry Lags the S&P 500 and the Sector. Artificial intelligence (AI) market size worldwide in 2021 with a forecast until 2030 (in million U.S. dollars). In May 2022, IBM collaborated with Amazon Web Services, Inc. (AWS) to provide a wide range of its software series as SaaS on AWS. Hewlett Packard Enterprise Company (U.S.), North America (Deployment Type, Application, Enterprise Type, Industry, Country), South America (Deployment Type, Application, Enterprise Type, Industry, Country), Europe (Deployment Type, Application, Enterprise Type, Industry, Country), Middle East & Africa (Deployment Type, Application, Enterprise Type, Industry, Country), Asia Pacific (Deployment Type, Application, Enterprise Type, Industry, Country), Granular Research on Specified Regions or Segments, Companies Profiled based on User Requirement, Broader Insights Pertaining to a Specific Segment or Region, Breaking Down Competitive Landscape as per Your Requirement, Other Specific Requirement on Customization. To maintain their competitiveness, consultants must stay current on emerging trends. Get Save this Review. Furthermore, investments for product development are also boosting the demand for these solutions. As the demand for cloud services is expected to grow over the next few years, with immense demand from the IT and telecommunication industry across the ever-growing corporate sector, the scope for IT infrastructure services from these end users is expected to grow rapidly. | Base Year: 2022 The IT and BPM industries' revenue is estimated at US$ 245 billion in FY 2023. Analysis based on IATF 16949. John-David Lovelock, The Internet Software and Services industry is currently in the growth phase of the industry life cycle. The misconfigurations result in the loss of sensitive data and apprehensive application programming interfaces, leading to unauthorized admission of sensitive data. But in 2023, the tech industry will likely continue to grapple with issues around supply chains, workforce, and innovationnow exacerbated by considerable macroeconomic and global uncertainties. SaaS solutions have undergone rapid changes as technologies, such as Machine Learning (ML) and Artificial Intelligence (AI), are integrated to improve operation proficiency and intelligence across businesses. Software as a Service [SaaS] Market Size & Growth, 2030 Our independence as a research firm enables our experts to provide unbiased advice you can trust. Internet Software and Services - Industry Insight Report Additionally, cloud policies are evolving around the globe due to increased demand for cloud services. This acquisition has been aimed to create a joint business that provides the clients of the company with services spanning from strategy formulation and planning through execution and implementation. SaaS is an important opportunity for the transformation of the software industry.Our country's software and information services industries stand to benefit greatly by fostering the culture of the Chinese nation and absorbing the outstanding achievements of other civilizations. Software Industry Trends Report: Buyers Uneasy With - Gartner Report, To understand geography trends, Download Sample Enterprise software is the largest segment in the software industry. Our studies include superior insights, supported by an all-encompassing analysis to further aid the software, hardware and IT sector in the future. In April 2023, Taclia, a software as a service startup, announced a solution to digitize everyday management processes. For instance, in November 2022, IBM announced the availability of IBM Cloud for VMware as a Service. The growth is attributed to the rising adoption of hybrid cloud solutions across government departments, public sector organizations, banking & financial institutions, and others. Find your information in our database containing over 20,000 reports, Artificial Intelligence (AI) in publishing in the United States, Artificial Intelligence (AI) in Singapore, Artificial Intelligence (AI) use in travel and tourism, Artificial intelligence use in media and entertainment, Mobile operating systems in the United Kingdom (UK), Information security and cyber crime in Russia. However, most domestic IT services' demands are fulfilled by foreign companies. These factors are expected to boost the segments growth. With this trend gaining traction in the market, companies have started to invest their resources in enhancing their advanced security offerings. IT Services | Statista We share news, insights, analysis and research - tailored to your unique interests - to help you deepen your knowledge and impact. IT Services Market Get a free sample of this report, Get this Data in a Free Sample of the IT Services Market Report. 1. That's why we do what we say. Some service industries, including transportation, wholesale trade and retail trade are part of the supply chain delivering goods produced in the agricultural and manufacturing sectors to final consumers.. Other services are provided directly to consumers. We value them as a research company worthy of building long-term relationships., Well done Fortune Business Insights! . Geomechanics Software And Services Market Report Overview Request a Free Sample to learn more about this report The global geomechanics software and services market size was USD 1.15 billion in 2022 and is projected to touch USD 1.94 billion by 2028, exhibiting a CAGR of 9.1% during the forecast period. High Demand for Software as a Service Solution in SMEs due to On-demand SaaS Model to Aid Market Expansion. While digital transformation and modernization take a leap into the future, the prospects of the industry will elevate. Enterprise software spending is set to approach a trillion U.S. dollars soon as it becomes even more crucial in digital transformation. One major trend in the industry is the move to the cloud, namely from on-premises software to software-as-a-service (SaaS), representing around a third of the overall software market. | Base Year: 2022 The new portfolio would help simplify stored & used data, reduce the time for data organization, and carry out repetitive tasks effectively. Examples of enterprise software include enterprise resource planning (ERP) and customer relationship management technologies. Thus, the rise in adoption of cloud, digital technology, and smart solutions in healthcare will fuel the segments growth. Technology & Media Market Research Revenue is expected to show an annual growth rate (CAGR 2023-2028) of 4.16%, resulting in a market . No wonder spending on enterprise software has one of the highest growth rates within the tech industry and is projected to grow further in 2023. It presents market revenue and growth for the different countries/regions and details on how enterprises should face new technology changes in the cloud industry. Internet services include companies that provide online databases or interactive services, such as search engines or social networks. This report is a detailed and comprehensive analysis of the world market for Help Read More, Jul 27, 2023|Published by: GlobalInfoResearch|USD 3,480, at USD million in 2022 and is forecast to a readjusted size of USD million by 2029 with a CAGR of % during review period. Gartner clients canlog into access the full library. In addition to software products, the software industry provides services ranging from training to consulting to documentation. Vanitha Dsilva, Gartner research, which includes in-depth proprietary studies, peer and industry best practices, trend analysis and quantitative modeling, enables us to offer innovative approaches that can help you drive stronger, more sustainable business performance. next >, Receive bi-weekly email alerts on new research. Deploying SaaS in content collaboration tools can improve the streamlining of the data flow for content creation, collaborative processes, modification, versioning, and sharing activities of organizations. On the back of thousands of IT services companies that were built over the last three decades, the industry has generated US$177 billion in revenue and more than US$135 billion in exports in FY 2018-2019 alone. The software industry consists of the development, distribution, and maintenance of software. There are not enough reviews of We.Team for G2 to provide buying insight. The mobile app industry Read More, Jul 17, 2023|Published by: First Research, Inc.|USD 129, companies include Confluence, Insightsoftware, MicroStrategy, Qlik, SAS Institute, and Tableau Software (all based in the US), as well as divisions of IBM, Microsoft, Oracle, and SAP. June 2022 - Cisco and Kyndryl have established a technology alliance to speed up the conversion of enterprise clients into data-driven companies. February 2023 - The UK-based Phoenix Group, an insurance and financial services provider, has given Tata Consultancy Services a EUR 600 million contract for digital transformation. Growing data breaches, cost concerns over product customization, and data migration are some of the reasons posing a threat to the market. The Software as a Service (SaaS) market growth can be attributed to several factors such as rise in adoption of public & hybrid cloud-based solutions, integration with other tools, and centralized data-driven analytics. IT Services Market Size & Share Analysis - Industry Research Report Software Industry - an overview | ScienceDirect Topics According to a survey conducted by Microsoft in January 2022, 86% of the U.S.-based respondents were planning to increase their investment in hybrid cloud and multi cloud. Technology | Deloitte US Figures are from 2014 through 2022, with forecasts for 2023 and 2027. North America Software as a Service (SaaS) Market Size, 2022 (USD Billion), To get more information on the regional analysis of this market, Request a Free sample. Artificial intelligence (AI) adoption, risks, and challenges, Artificial Intelligence (AI) in the Nordics, Artificial Intelligence (AI) in the United States, Customer relationship management in France, Extended reality (XR): AR, VR, and MR in the United States, IT services and digitalization of business in Finland, Other interesting topics relating to the sub-industries of the "Software" industry. The Business Software and Services market was estimated to be worth roughly USD 425.6 Billion in 2021 and is expected to reach USD 813.4 Billion by 2028; based on primary research. We are happy with the professionalism of your in-house research team as well as the quality of your research reports. . 8 Main Software Trends for 2022 Intellectsoft Blog Digital Intelligence Read More, of 14.65%. Clients receive 24/7 access to proven management and technology research, expert advice, benchmarks, diagnostics and more. We know where we will be getting business intelligence from in the future., Thank you for sending the market report and data.
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