Independent Software Vendors (ISVs) Market Size to grow by USD 2058.15 billion between 2024-2028
According to a research report “ Independent Software Vendors (ISVs) Market” by Deployment (On-premises, Cloud based) Component (Software, Services) Geography (North America, Europe, APAC, South America, Middle East and Africa)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 2058.15 billion, at a CAGR of 14.73% during the forecast period. In today's digital landscape, the exponential growth of data is a pressing concern for businesses worldwide. This expansion is driven by escalating mobile data traffic, the widespread adoption of cloud computing, and the proliferation of advanced technologies such as the Internet of Things (IoT) and artificial intelligence (AI). Each click, swipe, share, search, and stream generates data, necessitating robust big data analytics and storage solutions. Furthermore, the global proliferation of IoT-connected devices, including connected automobiles, homes, health systems, and smart cities, generates vast amounts of data, fueling the demand for innovative data management and analysis tools for Independent Software Vendors (ISVs) in the market.
Browse market data tables, figures, and in-depth TOC on “Independent Software Vendors (ISVs) Market” by Deployment (On-premises, Cloud based) Component (Software, Services) Geography (North America, Europe, APAC, South America, Middle East and Africa) Global Forecast to 2028. Download Free Sample
By Deployment, the On-premises segment is projected to dominate the market size in 2024
In the global Independent Software Vendors (ISVs) market, the software segment held the largest market share in 2023. This dominance can be attributed to the widespread adoption of cloud-based solutions among businesses. Software providers are capitalizing on this trend by delivering more value to customers, enhancing profitability, and streamlining internal operations through cost reduction and complexity minimization. Organizations are prioritizing digital transformation by automating processes and modernizing systems via new digital platforms, thereby fueling the demand for software solutions. With a focus on operational efficiency and competitive differentiation, businesses are increasingly partnering with ISVs to develop customized software solutions tailored to their unique requirements.
By Component, Software segment is expected to hold the largest market size for the year 2024
Independent Software Vendors (ISVs) often choose to deploy their software through the on-premises model, where the software is locally hosted within an organization's premises. This model allows the use of the organization's computer systems, with a one-time license fee paid to the ISV. On-premises software offers enhanced data security and local ownership, as the organization retains control over the data. Additionally, most on-premises software is open source, enabling customization to meet unique organizational requirements. Large enterprises, particularly those handling sensitive data, frequently opt for on-premises software due to its heightened security features and control.
North America is forecasted to hold the largest market size by region in 2024
In the dynamic ISV market landscape of 2023, the United States holds a dominant position, accounting for the largest market share in terms of both revenue and adoption rate. This leadership is driven by prominent global ISVs, including Microsoft Corp and Oracle Corp, headquartered in the US. The market's growth is fueled by the escalating volume of enterprise data and the automation of business processes across industries such as retail, manufacturing, healthcare, and transportation. Furthermore, the increasing trend among Small and Medium Enterprises (SMEs) to collaborate with e-commerce players and integrate with online applications, such as automated bank feeds and billing capabilities, necessitates the adoption of business software solutions.
The Independent Software Vendors (ISVs) Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:
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Research Analysis Overview
Independent Software Vendors (ISVs) play a crucial role in the technology landscape, providing businesses with specialized software solutions to address specific business problems. ISVs offer a range of software offerings, from on-premises solutions for finance, logistics, and automotive industries, to web-based services for retail & e-commerce and IT & telecom sectors. ISVs cater to various industries with industry-specific software, enterprise applications, and productivity tools. They provide training and technical support to help businesses optimize their operations. ISVs also offer solutions built on various platforms, including Cloud Technologies, Software-as-a-Service (SaaS), Platform-as-a-Service (PaaS), and Infrastructure-as-a-Service (IaaS). ISVs leverage the latest technologies and platforms, such as Cloud computing, Artificial intelligence (AI), and programming languages, to create innovative software solutions. Multinational corporations and startups alike turn to ISVs for customized software solutions that meet their unique needs. ISVs serve various sectors, from finance to logistics, automotive to e-commerce, and hardware manufacturing to education. By partnering with ISVs, businesses can focus on their core competencies while reaping the benefits of advanced software solutions.
Market Research Overview
The Independent Software Vendors (ISVs) market is experiencing significant growth in the current technology landscape, driven by the latest technologies such as cloud computing, mobile apps, and Artificial Intelligence (AI). ISVs are developing software products for various industries, including finance, automotive, IT & telecom, retail & e-commerce, healthcare, logistics, and more. These software solutions range from standalone applications to web-based services and Software-as-a-Service (SaaS), Platform-as-a-Service (PaaS), and Infrastructure-as-a-Service (IaaS) offerings. Large technology companies are partnering with ISVs to integrate their solutions with the latest platforms and programming languages. Businesses are increasingly turning to ISVs for industry-specific software to address specific business problems. Training and technical support are crucial for ISVs to ensure successful implementation and adoption of their software solutions. Cloud technologies, such as Salesforce Industries, are revolutionizing the way businesses operate, with privacy concerns and data security being critical considerations. AI integration and IoT applications are also becoming essential features in software solutions. User experience (UX) is a key differentiator for ISVs in a competitive market. Multinational corporations and startups alike are investing in productivity tools and enterprise applications to gain a competitive edge. Hardware manufacturers are also partnering with ISVs to offer integrated hardware-software solutions. Education and finance industries are significant markets for ISVs, with a growing demand for data analytics and data analytics tools.
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