North American business software and services market is anticipated to grow at a CAGR of nearly 12.0% during the forecast period (2021-2027). The attributable factors contributing to the growth of the market include the advanced software and IT service industry in the region and the presence of well-established and small and medium-size software and service providers. According to the cyber state organization, there are 525,000 software companies in the US. Moreover, approx. 40, 500 technical start-ups were established in 2018. These start-ups included software publishers, suppliers of custom computer programming services, computer system designs firms, and facilities management companies.
Browse the full report description of "North American 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" at https://www.omrglobal.com/industry-reports/north-american-business-software-and-services-market
Apart from this, the presence of a skilled workforce in the region is also propelling the growth of the market. For instance, the US workforce has nearly two million people as a skilled workforce, and the number is continuing to grow during the past decade. Additionally, according to the International Trade Administration, the US is the market leader in cloud computing software services and has some of the largest companies in the sector such as Microsoft Corp. and IBM Corp. Further, in Canada, the growing demand for a high-speed data network and the presence of an educated workforce of computer scientists and software engineers, who deal with the enterprise's software and service solution is another major factor driving the growth of the market in the region.
The major companies across the globe are highly inclined towards the adoption of different growth strategies including capacity expansion, R&D investments, partnerships, mergers and acquisitions, geographical expansion, new product launch, and product innovation to remain competitive in the marketplace. For instance, in March 2020, IBM Corp. partnered with its IT services peers, and it integrated global business services and global technology services capabilities to improve client engagement and increase the number of cloud sign ins. Additionally, IBM Corp. partnered with Infosys to enable client’s digital transformations through the offerings of IBM public cloud.
Market Coverage
o By Software
o By Service
o By Deployment Model
o By Size
o By End-User
Key questions addressed by the report
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
North American Business Software and Services Market Report Segment
By Software
By Service
By Deployment Model
By Size
By End-User
North American Business Software and Services Market Report Segment by Country
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