Business Software and Services Market Worldwide Trends, Top Manufacturers & In-depth Analysis Report

Felton, Calif., USA, Feb. 08, 2021 — /EPR Network/ —

The global Business Software and Services Market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.

Market Overview:

The global business software and services market is anticipated to reach USD 650.13 billion by the end 2025, according to a new report released by Million Insights. The market is anticipated to grow at a CAGR of 10.7% from 2019 to 2025. Rising adoption of emerging technologies and automation to improve the operational efficiency across several industries including BFSI, government, retail, manufacturing, and healthcare is projected to proliferate the market growth.

Key Players:

• Acumatica, Inc.
• Deltek Inc.
• Epicor Software Corporation
• International Business Machines Corporation
• Infor, Inc.
• Microsoft Corporation
• NetSuite Inc.
• Oracle Corporation
• SAP SE

Request free sample to get a complete analysis of top-performing companies @ https://www.millioninsights.com/industry-reports/global-business-software-services-market/request-sample

Growth Drivers:

Benefits such as improved operational efficiency, reduced cost of production, and timely product delivery obtained by implementing such enterprise solutions are projected to drive the demand from 2019 to 2025. Moreover, these software aid the process of strategic decision making by providing analytical tools that ensure data portability and transparency. This factor helps in minimizing the pitfalls in business operations, thereby, driving the demand across the globe.

Moreover, factors such as technological advancements, adoption of cloud-based software solutions, and increasing use of emerging data sources are propelling the demand for customized software that fulfill specific requirements of clients. Furthermore, rising adoption of supply chain management software to optimize the delivery process is further anticipated to boost the growth of business software & services market over the forecast period.

End-use Outlook:

• Aerospace & Defense
• BFSI
• Government
• Healthcare
• IT & Telecom
• Manufacturing
• Retail
• Transportation

Regional Outlook:

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.

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