Business Software and Services Market

Business Software and Services Market Overview

Business software refers to software that is designed specifically for analyzing business data to understand the strengths and weaknesses of an organization. This software is incorporated in the organizations to increase the organizational revenue growth by determining the requirements of an organization and assess the effectiveness of existing policies of an enterprise.

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Major Business Software and Services Market Drivers

Companies in the technology, telecommunications, and media industry are experiencing profound shifts in how they sell and deliver their products and services, which has driven the growth of the market. Progressively, customers are demanding that they be able to consume offerings from media content to technology infrastructure and enterprise software solutions in a scalable, flexible, and secure manner. Various organizations across the globe are increasing the scale of their operations to cater to a larger market and this is driving the need for business software and services within organizations. The growing use of cloud-based platforms has triggered the demand for cloud-based software solutions and services among small- and medium-sized enterprises, owing to advantages such as flexibility, cost-effectiveness, and mobility. Cloud-based services include data backup, data security, and system upgrade, among others. Furthermore, the rising adoption of advanced technologies such as blockchain, hybrid architecture, artificial intelligence, and machine learning is expected to contribute to the growth of the market over the forecast period. Moreover, artificial intelligence has started engulfing the domains and has raised the bar for automation in the world.

Restraint in the Business Software and Services Market

However, high price tag associated with the software and services is a major factor which is likely to be the hampering factor for the overall market. In addition, lack of skilled labour is also a major factor for the overall growth of the market.

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Deployment – Segment Analysis

Based on the deployment, cloud segment is witnessed to grow at a higher CAGR in the market over the forecast period. Cloud services are used widely across the globe as enable users to access data from remote locations in a hassle-free manner and they reduce the requirement for manual upgrade in enterprises.

Service – Segment Analysis

Based on the service, support and maintenance service is likely to grow at a higher CAGR in the market over the forecast period. This dominance is due to the increasing popularity of business management solutions and the rise of software models to fix and detect issues relating to the quality of a product. The expanding demand for maintenance services, and third-party support owing to cost-effectiveness, and for well-trained and experienced technicians is expected to propel the growth of the segment over the forecast period.

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Regional – Segment Analysis:

Based on the region, Europe is witnessed to grow at a higher CAGR in the market over the forecast period. Highly aggressive investments by large corporations and the deployment of new technologies across businesses and enterprises are driving the regional market growth. Prominence on cloud-based facilities and initiatives toward emerging enterprise intelligence solutions are likely to boost the need for enterprise solutions in the European region. For instance, the European Cloud Initiative launched by the European Union envisages providing a digital lead in the data-driven market to organizations willing to gain the benefits of cloud services.

Top Market Players

Various notable players operating in the market, include, Acumatica, Inc., Deltek, Inc., Epicor Software Corporation, International Business Machines Corporation, Infor, Inc., Microsoft Corporation, NetSuite Inc., Oracle Corporation, SAP SE, SYSPRO, among others. 

Key Developments:

• • In 2019, Deltek, Inc. acquired Florida Pest Control, a pest management business. Through this acquisition, the company planned to build customer density and also to increase its market presence in the North America region.

Segments covered in the Report:

The global business software and services market has been segmented on the basis of deployment, service, end-use and regions. Based on deployment, the market is segmented into cloud, and on-premise. Based on service, the market is segmented into consulting, managed services, and support & maintenance. Based on end-use, the market is segmented into aerospace & defense, BFSI, government, healthcare, and others. 

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Report Coverage	Details
Market Base Year	2020
Market Forecast Period	2021-2028
Market Revenues Currency	USD Million
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By Deployment, By Service, End-Use, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	Acumatica, Inc., Deltek, Inc., Epicor Software Corporation, International Business Machines Corporation, Infor, Inc., Microsoft Corporation, NetSuite Inc., Oracle Corporation, SAP SE, SYSPRO, among others; a total of 10 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Business Software and Services Market by Deployment

• • Cloud
  • On-premises

Global Business Software and Services Market by Service

• • Consulting
  • Managed Services
  • Support & maintenance

Global Business Software and Services Market End-Use

• • Aerospace & Defense
  • BFSI
  • Government
  • Healthcare
  • Others

Global Business Software and Services Market by Region

• • North America Business Software and Services Market (Option 1: As a part of the free 25% customization)

    • North America Business Software and Services Market by Deployment
    • North America Business Software and Services Market by Service
    • North America Business Software and Services Market End-Use
    • US Business Software and Services Market All-Up
    • Canada Business Software and Services Market All-Up

  • Europe Business Software and Services Market (Option 2: As a part of the free 25% customization)

    • Europe Business Software and Services Market by Deployment
    • Europe Business Software and Services Market by Service
    • Europe Business Software and Services Market End-Use
    • UK Business Software and Services Market All-Up
    • Germany Business Software and Services Market All-Up
    • France Business Software and Services Market All-Up
    • Spain Business Software and Services Market All-Up
    • Rest of Europe Business Software and Services Market All-Up

  • Asia-Pacific Business Software and Services Market (Option 3: As a part of the free 25% customization)

    • Asia-Pacific Business Software and Services Market by Deployment
    • Asia-Pacific Business Software and Services Market by Service
    • Asia-Pacific Business Software and Services Market End-Use
    • China Business Software and Services Market All-Up
    • India Business Software and Services Market All-Up
    • Japan Business Software and Services Market All-Up
    • Rest of APAC Business Software and Services Market All-Up

  • RoW Business Software and Services Market (Option 4: As a part of the free 25% customization)

    • RoW Business Software and Services Market by Deployment
    • RoW Business Software and Services Market by Service
    • RoW Business Software and Services Market End-Use
    • Brazil Business Software and Services Market All-Up
    • South Africa Business Software and Services Market All-Up
    • Saudi Arabia Business Software and Services Market All-Up
    • UAE Business Software and Services Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Business Software and Services Market All-Up

Major Players Operating in the Business Software and Services (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

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