Latest News- Independent Software Vendors (ISVS) Market: On-premises is expected to lead the Deployment segment during 2025-2029
The Independent Software Vendors (ISVS) Market is being driven by Rise in volume of enterprise data
The Independent Software Vendors (ISVS) Market is expected to grow at a CAGR of 11.9% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 1559.1 million. Independent Software Vendors (ISVs) are observing a significant surge in demand for cloud-based software solutions from agencies and corporations. This trend is driven by the adoption of cloud technologies for various applications, including authentication processes, video management, biometric information storage, and big data computing. The flexibility and scalability of cloud-based solutions enable organizations and governments to effectively manage their expanding data needs. The proliferation of Internet of Things (IoT) devices worldwide has led to an exponential increase in data generation. Industries such as manufacturing, utilities, retail, automotive, and social media are leveraging IoT for enhanced data transfer. With the rise of connected cars, homes, health, and smart cities, the volume of data being generated continues to grow. Cloud-based software solutions offer ISVs an opportunity to address the evolving needs of their clients in a cost-effective and efficient manner.
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Which Factors Are Causing a Surge in Market Growth?
The market is segmented based on Deployment (On-premises, Cloud based) Component (Software, Services) Geography (North America, Europe, APAC, South America, Middle East and Africa).
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
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Key Features in Independent Software Vendors (ISVS) Market Research Report
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Independent Software Vendors (ISVs) cater to various sectors, developing software solutions for Enterprise applications, industry-specific software, productivity tools, and more. Hardware manufacturers collaborate with ISVs for advanced technologies and platforms, including Cloud computing, Artificial Intelligence (AI), IaaS, PaaS, and SaaS. Startups and multinational corporations alike seek ISV offerings for E-Commerce, Logistics, retail & e-commerce, IT & telecom, automotive, web-based services, and more. ISVs address specific business problems in sectors like finance, education, and programming languages, providing technical support, training, and software-as-a-service. On-premises software remains an option for businesses in need.
The IT software market encompasses businesses specializing in the creation and distribution of application and system software. This sector comprises enterprises developing software solutions for industry-specific needs, productivity tools, and enterprise applications. Notably, our analysis at Technavio focuses on application software providers, excluding those engaged in interactive home entertainment and systems software, including database management systems. We determine the market size based on the consolidated revenue generated by these entities, encompassing both traditional and cloud-based software offerings.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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