Business Software and Services Market
Global Business Software and Services Market Size, Share & Trends Analysis Report by Software (Finance, Human Resource, Sales and Marketing, and Supply Chain), By Service (Consultancy Service, Maintenance & Operational Service, and Managed Service) By Deployment Model (On-Premise and Cloud), By Size (Small and Medium Enterprises and Large Enterprises), By End-User (Aerospace and Defense, BFSI, Government, Healthcare, IT and Telecom, Manufacturing, Retail, and Others) Forecast Period, 2021-2027
The global business software and services market is anticipated to grow at a CAGR of nearly 11.5% during the forecast period (2021-2027). The primary factor driving the market growth includes the growing automation of processes across industries such as transportation, retail, manufacturing, and healthcare. Additionally, the rise in deployment of enterprise software to reduce inventory cost, better strategic decisions making, and enhancing profitability in IT infrastructure is another factor propelling the market growth. However, the need for skilled workforce, lack of efficacy of the business services model, data privacy & security concerns, and the need for huge investment are hampering the growth of the market.
Apart from this, the organizations are highly investing in digital transformation as businesses with higher digital adoption would work more efficiently than the traditional ones. Organizations are investing rapidly in technologies such as AI, machine learning, fraud prevention, CRM software, blockchain technology, and analytics for solutions such as conversational AI and chatbots, and demand forecasting. Thus, these aforementioned factors are attributed to the increase in demand for the business software and services.
Impact of COVID-19 Pandemic on Global Business software and Services Market
COVID-19 pandemic led to a positive impact on the growth of the business software and services. COVID-19 pandemic has resulted an increasing concept of working from home which increased the demand for business software and services. The emerging trend towards remote working, online classes, and online streaming has increased the demand for cloud services. Thus, it can be anticipated that the COVID-19 pandemic is positively impacting the adoption of business software and services.
Segmental Outlook
The market is segmented based on software, services, deployment model, size, and end-user. Based on software, the market is segmented into finance, human resource, sales and marketing, and supply chain. Based on service, the market is segmented into consulting, support and maintenance, and managed services. Based on the deployment model, the market is segmented into on-premise and cloud. Cloud-based deployment model are anticipated to hold a considerable share during the forecast period. The growing adoption of cloud-based solutions owing to their benefits such as flexibility, cost savings, and security. Based on the size, the market is segmented into small and medium enterprises, and large enterprises. Based on end-user, the market is segmented into aerospace and defense, BFSI, government, healthcare, IT and telecom, manufacturing, retail,and others.
Global Business Software and Services Market Share by End-User, 2020 (%)
BFSI Segment Holds the Significant Share in the Market
Based on end-user, the market is segmented into aerospace and defense, BFSI, government, healthcare, IT and telecom, manufacturing, retail, and others. Among these, BFSI is expected to be a major category as the increasing adoption of cloud-based services in the industry is creating the need for more jobs. High digitalization in the BFSI sector has led the demand for business software and services. For automation in operations, many BFSI organizations have adopted modern technologies such as artificial intelligence (AI), IoT (Internet of Things), cloud-based IT infrastructure, robotic process automation, and among others.
Regional Outlook
The market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, France, Spain, Germany, and Rest of Europe), Asia-Pacific (India, Japan, China, and the Rest of Asia-Pacific), and the Rest of the World (the Middle East and Africa, and Latin America). North America held a major market position in the market in 2020. Well-developed IT infrastructure and high implementation of advanced technologies are some of the key factors driving the growth of the market in the region.
Global Business Software and Services Market Growth, by Region 2021-2027
Europe to Hold Second Largest Position in the Global Business Software and Services Market
Europe is anticipated to exhibit potential share in the market. The growth factors for the market in the region include the deployment of new technologies across organizations and significant investments for expansion by large corporations in the region. The increasing demand for cloud-based facilities and services in the enterprises for developing intelligence solutions is expected to drive the market in the region.
Market Players Outlook
SAP SE, Microsoft Corp., and IBM Corp., and among others are some of the key players operating in the market. These market players are adopting growth strategies such as technological advancement, partnerships, collaborations, mergers & acquisitions among others to sustain a strong position in the market. For instance, in June 2020, IBM Corp. and SAP SE announced a partnership to develop and deliver advanced intelligent industry solutions that can potentially enable end-to-end processes and support businesses in accelerating the modernization of workflows and systems.
The Report Covers
- Market value data analysis of 2020 and forecast to 2027.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global business software and services market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where in the market.
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
• Impact of COVID-19 on the Global Business Software and Services Industry
• Recovery Scenario of Global Business Software and Services Industry
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. By Region
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Key Company Analysis
3.1.1. SAP SE
3.1.1.1. Overview
3.1.1.2. Financial Analysis
3.1.1.3. SWOT Analysis
3.1.1.4. Recent Developments
3.1.2. Microsoft Corp.
3.1.2.1. Overview
3.1.2.2. Financial Analysis
3.1.2.3. SWOT Analysis
3.1.3. IBM Corp.
3.1.3.1. Overview
3.1.3.2. Financial Analysis
3.1.3.3. SWOT Analysis
3.2. Key Strategy Analysis
3.3. Impact of COVID-19 on Key Players
4. Market Determinants
4.1. Motivators
4.2. Restraints
4.3. Opportunities
5. Market Segmentation
5.1. Global Business Software and Services Market by Software
5.1.1. Finance
5.1.2. Human Resource
5.1.3. Sales and Marketing
5.1.4. Supply Chain
5.2. Global Business Software and Services Market by Services
5.2.1. Consulting
5.2.2. Support and Maintenance
5.2.3. Managed Services
5.3. Global Business Software and Services Market by Deployment
5.3.1. Cloud
5.3.2. On-Premises
5.4. Global Business Software and Services Market by Size
5.4.1. Small and medium enterprises
5.4.2. Large enterprises.
5.5. Global Business Software and Services Market by End-User Industry
5.5.1. Aerospace and Defense
5.5.2. BFSI
5.5.3. Government
5.5.4. Healthcare
5.5.5. IT and Telecom
5.5.6. Manufacturing
5.5.7. Retail
5.5.8. Others
6. Regional Analysis
6.1. North America
6.1.1. United States
6.1.2. Canada
6.2. Europe
6.2.1. UK
6.2.2. Germany
6.2.3. Italy
6.2.4. Spain
6.2.5. France
6.2.6. Rest of Europe
6.3. Asia-Pacific
6.3.1. China
6.3.2. India
6.3.3. Japan
6.3.4. South Korea
6.3.5. Rest of Asia-Pacific
6.4. Rest of the World
7. Company Profiles
7.1. Acumatica, Inc.
7.2. Dassault SystèmesSE
7.3. Deltek, Inc.
7.4. Epicor Software Corp.
7.5. Infor Inc.
7.6. MicroStrategy Inc.
7.7. NetSuite Inc.
7.8. Oracle Corp.
7.9. Qlik Technologies, Inc.
7.10. Salesforce.com, Inc.
7.11. SAS Institute, Inc.
7.12. SYSPRO
7.13. Tableau Software, Inc.
7.14. TIBCO Software Inc.
7.15. Totvs SA
7.16. Unit4 N.V.
1. GLOBAL BUSINESS SOFTWARE AND SERVICES MARKET RESEARCH AND ANALYSIS BY SOFTWARE, 2020-2027 ($ MILLION)
2. GLOBAL FINANCE BUSINESS SOFTWARE MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
3. GLOBAL HUMAN RESOURCE BUSINESS SOFTWARE MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
4. GLOBAL SALES AND MARKETING BUSINESS SOFTWARE MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
5. GLOBAL SUPPLY CHAIN BUSINESS SOFTWARE MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
6. GLOBAL BUSINESS SOFTWARE AND SERVICES MARKET RESEARCH AND ANALYSIS BY SERVICES, 2020-2027 ($ MILLION)
7. GLOBAL BUSINESS CONSULTING SERVICES MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
8. GLOBAL BUSINESS SUPPORT AND MAINTENANCE SERVICES MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
9. GLOBAL BUSINESS MANAGED SERVICES MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
10. GLOBAL OTHER BUSINESS SERVICES MARKET RESEARCH AND ANALYSIS BY DEPLOYMENT, 2020-2027 ($ MILLION)
11. GLOBAL BUSINESS SOFTWARE AND SERVICES MARKET RESEARCH AND ANALYSIS BY DEPLOYMENT, 2020-2027($ MILLION)
12. GLOBAL CLOUD-BASED BUSINESS SOFTWARE AND SERVICES MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
13. GLOBAL ON-PREMISES-BASED BUSINESS SOFTWARE AND SERVICES MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
14. GLOBAL BUSINESS SOFTWARE AND SERVICES MARKET RESEARCH AND ANALYSIS BY SIZE, 2020-2027 ($ MILLION)
15. GLOBAL BUSINESS SOFTWARE AND SERVICES FOR SMALL AND MEDIUM ENTERPRISES MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
16. GLOBAL BUSINESS SOFTWARE AND SERVICES FOR LARGE ENTERPRISES MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
17. GLOBAL BUSINESS SOFTWARE AND SERVICES MARKET RESEARCH AND ANALYSIS BY END-USER INDUSTRY, 2020-2027 ($ MILLION)
18. GLOBAL BUSINESS SOFTWARE AND SERVICES FOR HEALTHCARE MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
19. GLOBAL BUSINESS SOFTWARE AND SERVICES FOR BFSI MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
20. GLOBAL BUSINESS SOFTWARE AND SERVICES FOR GOVERNMENT MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
21. GLOBAL BUSINESS SOFTWARE AND SERVICES FOR HEALTHCARE MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
22. GLOBAL BUSINESS SOFTWARE AND SERVICES FOR IT AND TELECOM MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
23. GLOBAL BUSINESS SOFTWARE AND SERVICES FOR MANUFACTURING MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
24. GLOBAL BUSINESS SOFTWARE AND SERVICES FOR RETAIL MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
25. GLOBAL BUSINESS SOFTWARE AND SERVICES FOR OTHER END-USERS MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
26. NORTH AMERICAN BUSINESS SOFTWARE AND SERVICES MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2020-2027 ($ MILLION)
27. NORTH AMERICAN BUSINESS SOFTWARE AND SERVICES MARKET RESEARCH AND ANALYSIS BY SOFTWARE, 2020-2027 ($ MILLION)
28. NORTH AMERICAN BUSINESS SOFTWARE AND SERVICES MARKET RESEARCH AND ANALYSIS BY SERVICES, 2020-2027 ($ MILLION)
29. NORTH AMERICAN BUSINESS SOFTWARE AND SERVICES MARKET RESEARCH AND ANALYSIS BY DEPLOYMENT, 2020-2027 ($ MILLION)
30. NORTH AMERICAN BUSINESS SOFTWARE AND SERVICES MARKET RESEARCH AND ANALYSIS BY SIZE, 2020-2027 ($ MILLION)
31. NORTH AMERICAN BUSINESS SOFTWARE AND SERVICES MARKET RESEARCH AND ANALYSIS BY END-USER INDUSTRY, 2020-2027 ($ MILLION)
32. EUROPEAN BUSINESS SOFTWARE AND SERVICES MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2020-2027 ($ MILLION)
33. EUROPEAN BUSINESS SOFTWARE AND SERVICES MARKET RESEARCH AND ANALYSIS BY SOFTWARE, 2020-2027 ($ MILLION)
34. EUROPEAN BUSINESS SOFTWARE AND SERVICES MARKET RESEARCH AND ANALYSIS BY SERVICES, 2020-2027 ($ MILLION)
35. EUROPEAN BUSINESS SOFTWARE AND SERVICES MARKET RESEARCH AND ANALYSIS BY DEPLOYMENT, 2020-2027 ($ MILLION)
36. EUROPEAN BUSINESS SOFTWARE AND SERVICES MARKET RESEARCH AND ANALYSIS BY SIZE, 2020-2027 ($ MILLION)
37. EUROPEAN BUSINESS SOFTWARE AND SERVICES MARKET RESEARCH AND ANALYSIS BY END-USER INDUSTRY, 2020-2027 ($ MILLION)
38. ASIA-PACIFIC BUSINESS SOFTWARE AND SERVICES MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2020-2027 ($ MILLION)
39. ASIA-PACIFIC BUSINESS SOFTWARE AND SERVICES MARKET RESEARCH AND ANALYSIS BY SOFTWARE, 2020-2027 ($ MILLION)
40. ASIA-PACIFIC BUSINESS SOFTWARE AND SERVICES MARKET RESEARCH AND ANALYSIS BY SERVICES, 2020-2027 ($ MILLION)
41. ASIA-PACIFIC BUSINESS SOFTWARE AND SERVICES MARKET RESEARCH AND ANALYSIS BY DEPLOYMENT, 2020-2027 ($ MILLION)
42. ASIA-PACIFIC BUSINESS SOFTWARE AND SERVICES MARKET RESEARCH AND ANALYSIS BY SIZE, 2020-2027 ($ MILLION)
43. ASIA-PACIFIC BUSINESS SOFTWARE AND SERVICES MARKET RESEARCH AND ANALYSIS BY END-USER INDUSTRY, 2020-2027 ($ MILLION)
44. REST OF THE WORLD BUSINESS SOFTWARE AND SERVICES MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2020-2027 ($ MILLION)
45. REST OF THE WORLD BUSINESS SOFTWARE AND SERVICES MARKET RESEARCH AND ANALYSIS BY SOFTWARE, 2020-2027 ($ MILLION)
46. REST OF THE WORLD BUSINESS SOFTWARE AND SERVICES MARKET RESEARCH AND ANALYSIS BY SERVICES, 2020-2027 ($ MILLION)
47. REST OF THE WORLD BUSINESS SOFTWARE AND SERVICES MARKET RESEARCH AND ANALYSIS BY DEPLOYMENT, 2020-2027 ($ MILLION)
48. REST OF THE WORLD BUSINESS SOFTWARE AND SERVICES MARKET RESEARCH AND ANALYSIS BY SIZE, 2020-2027 ($ MILLION)
49. REST OF THE WORLD BUSINESS SOFTWARE AND SERVICES MARKET RESEARCH AND ANALYSIS BY END-USER INDUSTRY, 2020-2027 ($ MILLION)
1. IMPACT OF COVID-19 ON GLOBAL BUSINESS SOFTWARE AND SERVICES MARKET, 2020-2027 ($ MILLION)
2. IMPACT OF COVID-19 ON GLOBAL BUSINESS SOFTWARE AND SERVICES MARKET BY SEGMENT, 2020-2027 ($ MILLION)
3. RECOVERY OF GLOBAL BUSINESS SOFTWARE AND SERVICES MARKET, 2021-2027(%)
4. GLOBAL BUSINESS SOFTWARE AND SERVICES MARKET SHARE BY SOFTWARE, 2020 VS 2027(%)
5. GLOBAL BUSINESS SOFTWARE AND SERVICES MARKET SHARE BY SERVICES, 2020 VS 2027(%)
6. GLOBAL BUSINESS SOFTWARE AND SERVICES MARKET SHARE BY DEPLOYMENT, 2020 VS 2027(%)
7. GLOBAL BUSINESS SOFTWARE AND SERVICES MARKET SHARE BY SIZE, 2020 VS 2027(%)
8. GLOBAL BUSINESS SOFTWARE AND SERVICES MARKET SHARE BY END-USER INDUSTRY, 2020 VS 2027(%)
9. GLOBAL BUSINESS SOFTWARE AND SERVICES MARKET SHARE BY GEOGRAPHY, 2020 VS 2027(%)
10. GLOBAL FINANCE BUSINESS SOFTWARE MARKET SHARE BY REGION, 2020 VS 2027(%)
11. GLOBAL HUMAN RESOURCES BUSINESS SOFTWARE MARKET SHARE BY REGION, 2020 VS 2027(%)
12. GLOBAL SALES AND MARKETING BUSINESS SOFTWARE MARKET SHARE BY REGION, 2020 VS 2027(%)
13. GLOBAL SUPPLY CHAIN BUSINESS SOFTWARE MARKET SHARE BY REGION, 2020 VS 2027(%)
14. GLOBAL BUSINESS CONSULTING SERVICES MARKET SHARE BY REGION, 2020 VS 2027(%)
15. GLOBAL BUSINESS SUPPORT AND MANAGEMENT SERVICES MARKET SHARE BY REGION, 2020 VS 2027(%)
16. GLOBAL BUSINESS MANAGED SERVICES MARKET SHARE BY REGION, 2020 VS 2027(%)
17. GLOBAL CLOUD-BASED BUSINESS SOFTWARE AND SERVICES MARKET SHARE BY REGION, 2020 VS 2027(%)
18. GLOBAL ON-PREMISES BASED BUSINESS SOFTWARE AND SERVICES MARKET SHARE BY REGION, 2020 VS 2027(%)
19. GLOBAL BUSINESS SOFTWARE AND SERVICES FOR SMALL AND MEDIUM ENTERPRISES MARKET SHARE BY REGION, 2020 VS 2027(%)
20. GLOBAL BUSINESS SOFTWARE AND SERVICES FOR LARGE ENTERPRISES MARKET SHARE BY REGION, 2020 VS 2027(%)
21. GLOBAL BUSINESS SOFTWARE AND SERVICES FOR AEROSPACE AND DEFENCE MARKET SHARE BY REGION, 2020 VS 2027(%)
22. GLOBAL BUSINESS SOFTWARE AND SERVICES FOR BFSI MARKET SHARE BY REGION, 2020 VS 2027(%)
23. GLOBAL BUSINESS SOFTWARE AND SERVICES FOR GOVERNMENT MARKET SHARE BY REGION, 2020 VS 2027(%)
24. GLOBAL BUSINESS SOFTWARE AND SERVICES FOR HEALTHCARE MARKET SHARE BY REGION, 2020 VS 2027(%)
25. GLOBAL BUSINESS SOFTWARE AND SERVICES FOR IT AND TELECOM MARKET SHARE BY REGION, 2020 VS 2027(%)
26. GLOBAL BUSINESS SOFTWARE AND SERVICES FOR MANUFACTURING MARKET SHARE BY REGION, 2020 VS 2027(%)
27. GLOBAL BUSINESS SOFTWARE AND SERVICES FOR RETAIL MARKET SHARE BY REGION, 2020 VS 2027(%)
28. GLOBAL BUSINESS SOFTWARE AND SERVICES FOR OTHER END-USER INDUSTRY MARKET SHARE BY REGION, 2020 VS 2027(%)
29. US BUSINESS SOFTWARE AND SERVICES MARKET SIZE, 2020-2027 ($ MILLION)
30. CANADA BUSINESS SOFTWARE AND SERVICES MARKET SIZE, 2020-2027 ($ MILLION)
31. UK BUSINESS SOFTWARE AND SERVICES MARKET SIZE, 2020-2027 ($ MILLION)
32. FRANCE BUSINESS SOFTWARE AND SERVICES MARKET SIZE, 2020-2027 ($ MILLION)
33. GERMANY BUSINESS SOFTWARE AND SERVICES MARKET SIZE, 2020-2027 ($ MILLION)
34. ITALY BUSINESS SOFTWARE AND SERVICES MARKET SIZE, 2020-2027 ($ MILLION)
35. SPAIN BUSINESS SOFTWARE AND SERVICES MARKET SIZE, 2020-2027 ($ MILLION)
36. REST OF EUROPE BUSINESS SOFTWARE AND SERVICES MARKET SIZE, 2020-2027 ($ MILLION)
37. INDIA BUSINESS SOFTWARE AND SERVICES MARKET SIZE, 2020-2027 ($ MILLION)
38. CHINA BUSINESS SOFTWARE AND SERVICES MARKET SIZE, 2020-2027 ($ MILLION)
39. JAPAN BUSINESS SOFTWARE AND SERVICES MARKET SIZE, 2020-2027 ($ MILLION)
40. SOUTH KOREA BUSINESS SOFTWARE AND SERVICES MARKET SIZE, 2020-2027 ($ MILLION)
41. REST OF ASIA-PACIFIC BUSINESS SOFTWARE AND SERVICES MARKET SIZE, 2020-2027 ($ MILLION)
42. REST OF THE WORLD BUSINESS SOFTWARE AND SERVICES MARKET SIZE, 2020-2027 ($ MILLION)
