Uncovering the Latest Trends in the Business Software Industry: A Comprehensive Analysis

Posted on 2024-05-15 by researchinsights in Industrial, Software, Technology // 0 Comments

Business Software Industry Data Book – Event Management Software, ERP Software and Quality Management Software Market Size, Share, Trends Analysis, and Segment Forecasts, 2023 – 2030

The global Business Software Industry was valued at USD 71.11 billion in 2022 and is anticipated to increase at a significant CAGR of 11.3% from 2023 to 2030.

Grand View Research’s business software industry database is a collection of market sizing information & forecasts, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, all such information is systematically analyzed and provided in the form of presentations and detailed outlook reports on individual areas of research.

Event Management Software Market Insights

The global event management software market size was estimated at USD 6.96 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 14.1% from 2023 to 2030. With the proliferation of technology, event management software has strong data-handling attributes. It enables event managers to gather and evaluate data on participant population demographics, opinions, and behavior. The data gathered can assist event organizers in making informed choices, enhancing future events, and customizing overall experience to the needs of participants. These factors are driving market growth. Event management has grown in importance globally as the range of worldwide conferences, exhibits, and cultural events has increased. Cultural variations, communication hurdles, and foreign logistics are all managed by event organizers.

Event planners and organizers are using gamification as a tool to engage attendees. Gamification of events allows organizers to enhance experience for attendees. Gamification works on tailoring benefits to attendees’ sentiments to boost their confidence, create a relaxed atmosphere, generate a feeling of common purpose, and ensure easy & effective communication. Event organizers typically use innovative gamification methods, such as Question and Answer (Q&A) engagement, social media engagement, teamwork games, social programs, and networking games.

Artificial Intelligence (AI) and Machine Learning (ML) are revolutionizing many elements of event management. AI-powered chatbots and digital assistants can answer guest inquiries, offer event details, and provide customized suggestions. Automation technologies can help companies reduce time by automating email marketing, social media time management, and statistical entry tasks. Interactive event engagements are gradually being created using AR and VR technologies. AR can provide fun and interactive elements by adding digital content to physical event venue. Attendees can utilize VR to discover virtual settings while participating in virtual presentations, outings, or games.

Order your copy of the Free Sample of “Business Software Industry Data Book – Event Management Software, ERP Software and Quality Management Software Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 – 2030” Data Book, published by Grand View Research

ERP Software Market Insights

The global ERP software market size was valued at USD 54.76 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 11.0% from 2023 to 2030. The growing need for operational efficiency and transparency in business processes, the increase in demand for data-driven decisions, and the rise in mobile and cloud applications adoption are key factors propelling the ERP software market growth. However, the growing availability of open-source applications and higher initial investment and maintenance costs are poised to restrain the market growth. An increase in demand for cloud-based ERP solutions, especially from small and medium-sized businesses, is further anticipated to offer numerous opportunities for stakeholders in this market.

ERP implementation in an organization can reduce inventory costs by 25% to 30% and raw material costs by around 15%. Also, it leads to increased profitability for a firm, thus boosting demand. ERP facilitates integration of various organizational processes and the smooth flow of cross-functional information, thus allowing better productivity and decision-making. Moreover, a rising number of SMEs in developing economies, especially China, India, and Brazil, is expected to boost product demand. In addition, penetration of IT technologies in these regions is expected to change consumer behavior, leading to increased adoption of ERP software instead of manual operations.

Go through the table of content of Business Software Industry Data Book to get a better understanding of the Coverage & Scope of the study

Business Software Industry Data Book Competitive Landscape

Companies are adopting various growth strategies, such as mergers & acquisitions, partnerships, and new product launches to maintain their position in the competitive market.

Key players operating in the Business Software Industry are:

Aventri Inc.
General Electric Co.
Honeywell International Inc.
International Business Machines Corporation
Microsoft Corporation

Check out more Industry Data Books, published by Grand View Research

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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