Press release
Global Software Services Market: Unprecedented Growth Trajectory with $1618.63 Billion by 2025 and $2437.87 Billion by 2029
Software Services Market Size
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What Is The Projected Market Size Of The Global Software Services Market And Its Growth Rate?_x000D_
• The software services market size will grow from $1491.27 billion in 2024 to $1618.63 billion in 2025 at a compound annual growth rate (CAGR) of 8.5%._x000D_
• The market size is expected to see rapid growth to $2437.87 billion in 2029 at a compound annual growth rate (CAGR) of 10.8%._x000D_
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What Is Driving The Growth In The Software Services Market?_x000D_
The growth in the software services market is primarily driven by increasing business process automation. Automation technology, which requires minimal human intervention to complete tasks, is a cost-effective method for businesses looking to cut expenses while improving customer service. The rise of automation in various business processes is expected to increase the demand for software services. For example, according to the International Federation of Robotics, U.S. manufacturing firms significantly increased their investment in automation, with a 12% increase in industrial robot installations, reaching 44,303 units in 2023. Thus, the increased business process automation is fuelling the growth of the software services market._x000D_
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Who Are the Key Players Driving Software Services Market Growth?_x000D_
The significant players in the software services market include:_x000D_
• Microsoft Corporation_x000D_
• Oracle Corporation_x000D_
• Epicor Software Corporation_x000D_
• International Business Machines Corporation_x000D_
• Infor Inc._x000D_
• Deltek Inc._x000D_
• Acumatica Inc._x000D_
• Unit4_x000D_
• Syspro Technologies_x000D_
• TOTVS S.A,_x000D_
• SAP SE_x000D_
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What Are The Key Trends In The Software Services Market?_x000D_
Key trends in the market include:_x000D_
• Integration of internet of things (iot)_x000D_
• Utilization of artificial intelligence (ai) and machine learning_x000D_
• Adoption of remote work solutions_x000D_
• Implementation of augmented reality (ar) and virtual reality technologies_x000D_
• Development of edge computing solutions_x000D_
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What Are The Segments Of The Global Software Services Market?_x000D_
The software services market is segmented by:_x000D_
• Software: Finance, Sales And marketing, Human Resource, Supply Chain, Other Software Types_x000D_
• Service: Consulting, Managed Services, Support And Maintenance_x000D_
• Deployment: Cloud, On-Premise_x000D_
• Enterprise Size: Large Enterprises, Small And Medium Enterprises_x000D_
• End-Use: Aerospace And Defense, Banking And Financial Institutions (BFSI), Government, Healthcare, IT And Telecom, Manufacturing, Retail, Transportation, Other End-Uses_x000D_
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Which Region Leads The Software Services Market?_x000D_
North America was the largest region in the software services market in 2024. The regions covered in the software services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa._x000D_
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https://www.thebusinessresearchcompany.com/report/software-services-global-market-report_x000D_
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What Is Covered In The Software Services Market Global Market Report?_x000D_
- Market Size Analysis: Analyze the Software Services Market size by key regions, countries, product types, and applications._x000D_
- Market Segmentation Analysis: Identify various subsegments within the Software Services Market for effective categorization._x000D_
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape._x000D_
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market._x000D_
- Market Contribution: Evaluate contributions of different segments to the overall Software Services Market growth._x000D_
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers._x000D_
- Industry Challenges: Analyze challenges and risks affecting the Software Services Market._x000D_
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market._x000D_
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Learn More About The Business Research Company_x000D_
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Our flagship product, the Global Market Model (GMM), is a premier market intelligence platform delivering comprehensive and updated forecasts to support informed decision-making._x000D_
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Contact Us
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Email: mailto:info@tbrc.info
Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.
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