Press release
Global Vertical Market Software Market to Reach $309.17 Billion by 2029, Growing at 15.09% CAGR
Vertical Market Size Software Market Size
The growth in the vertical market software sector has been swift in the past few years. The sector's market worth is projected to increase from $152.61 billion in 2024 to $176.23 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 15.5%. Factors contributing to this historic growth include specific industry needs, intensifying regulatory norms, adoption of enterprise resource planning (ERP), and the emergence of cloud computing technology.
The size of the vertical market software market is predicted to see a surge in the coming years, expanding to $309.17 billion by 2029 with a 15.1% compound annual growth rate (CAGR). This expansion during the predicted period will be driven by factors such as digital transformation, industry 4.0, remote work and collaboration, regulatory amendments, specific issues in the industry, sustainability, ESG, and rising industries. The forecast period also sees significant trends like the incorporation of AI and machine learning, IoT-driven solutions, the use of blockchain, edge computing solutions, cybersecurity incorporation, augmented reality (AR) and virtual reality (VR), and the rise of personalization and customization.
What Factors Are Fueling Growth in the Vertical Market Software Market?
The surge in digitization is anticipated to be a key driving force behind the expansion of the vertical market software market. Digitization entails using digital technology to transform various functions, activities, or resources into a digital format. The proclivity towards digitization escalates because of its capacity to simplify processes, boost productivity, augment accessibility, and spur innovation and growth across numerous industries. Digitization enhances vertical market software by facilitating more efficient procedures, superior data analytics, and better client engagement to effectively cater to specific industry needs. For example, as reported by the European Investment Bank, a European Union long-term finance institution based in Luxembourg, in May 2023, there was a 9% point increase from 2021, with 42% of European companies intensifying their investment in digitization in 2022. Comparatively, half of the companies in the United States, or 50%, sought additional investment in digitization during the same period. Consequently, the escalation in digitization is fueling the growth of the vertical market software market.
Get Your Free Sample Now - Explore Exclusive Market Insights:
https://www.thebusinessresearchcompany.com/sample.aspx?id=15488&type=smp
Which Leading Companies Are Shaping the Growth of the Vertical Market Software Market?
Major companies operating in the vertical market software market are McKesson Corporation, Microsoft Corporation, Siemens AG, accenture* plc, International Business Machines Corporation, Cisco Systems Inc., Oracle Corporation, SAP SE, Salesforce Inc., Adobe Inc., Intuit Inc., ServiceNow Inc., Constellation Software, Dassault Systèmes SE, Workday Inc., Autodesk Inc., Paychex Inc., Epic Systems Corporation, Sage Group plc, Verisk Analytics Inc., Veeva Systems Inc., Tyler Technologies Inc
What Are the Major Trends Shaping the Vertical Market Software Market?
Top companies in the vertical market software sector are shifting their focus towards the creation of contract intelligence tools in an effort to enhance their services and boost their profits. These contract intelligence tools are cutting-edge software or systems that harness the power of advanced technologies such as artificial intelligence (AI), natural language processing (NLP), and machine learning (ML) to scrutinize, decipher, and draw crucial insights from various types of contracts. Take for instance, in October 2022, software firm Icertis from the US, rolled out its Icertis Contract Intelligence (ICI) solution specially crafted for the banking and financial services sector. This dedicated solution is targeted at enhancing contract lifecycle management (CLM) within these organisations. It provides a custom-made functionality to meet certain challenges these institutions face, such as risk management, enhancement of regulatory compliance, and business velocity increase. The solution wants to aid banking and financial services establishments to increase their business velocity, while effectively managing risks and amping up regulatory compliance in fields like AML, ISDA credit support, and credit risk assessments.
What Are the Key Segments of the Vertical Market Software Market?
The vertical market software market covered in this report is segmented -
1) By Software Type: Banking Software, Education Software, Legal Software, Agriculture Software, Alumni Management Software, Amusement Park Software, Apparel Software, Architecture Software, Other Software Types
2) By Deployment: Cloud-Based, On-Premise
3) By Enterprise Size: Small And Medium Enterprises, Large Enterprises
4) By Industry Vertical: Banking, Financial Services And Insurance (BFSI), Manufacturing, Retail, Healthcare, Information Technology (IT) And Telecommunication, Other Industry Verticals
Subsegments:
1) By Banking Software: Core Banking Software, Mobile Banking Software, Loan Management Software, Payment Processing Software, Risk Management Software, Fraud Detection Software, Trading And Investment Software
2) By Education Software: Learning Management Systems (LMS), Student Information Systems (SIS), Virtual Classroom Software, Exam Management Software, E-learning Content Software, School Administration Software
3) By Legal Software: Case Management Software, Document Management Software, Legal Research Software, Billing And Invoicing Software, Time Tracking Software, Contract Management Software
4) By Agriculture Software: Farm Management Software, Crop Management Software, Livestock Management Software, Agricultural Supply Chain Management Software, Precision Farming Software, Irrigation Management Software
5) By Alumni Management Software: Alumni Database Management Software, Event Management Software, Fundraising And Donation Software, Alumni Engagement Platforms, Networking Software
6) By Amusement Park Software: Ticketing And Reservation Software, Visitor Management Software, Ride Management Software, Queue Management Software, Park Operations Software
7) By Apparel Software: Fashion Design Software, Apparel Manufacturing Software, Inventory Management Software, Supply Chain Management Software, Retail POS Software
8) By Architecture Software: Computer-Aided Design (CAD) Software, Building Information Modeling (BIM) Software, 3D Modeling Software, Project Management Software, Structural Analysis Software
9) By Other Software Types: Healthcare Software, Real Estate Software, Automotive Software, Energy And Utilities Software, Hospitality Management Software, Retail Management Software, Hr Management Software
Pre-Book Your Report Now For A Swift Delivery:
https://www.thebusinessresearchcompany.com/report/vertical-market-software-global-market-report
Which Region Dominates the Vertical Market Software Market?
North America was the largest region in the vertical market software market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the vertical market software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is Covered In The Vertical Market Software Global Market Report?
- Market Size Analysis: Analyze the Vertical Market Software Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Vertical Market Software Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Vertical Market Software Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Vertical Market Software Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
Unlock Exclusive Market Insights - Purchase Your Research Report Now!
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=15488
Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.
Contact Us
Europe: +44 207 1930 708,
Asia: +91 88972 63534,
Americas: +1 315 623 0293 or
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.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Global Vertical Market Software Market to Reach $309.17 Billion by 2029, Growing at 15.09% CAGR here
News-ID: 3866582 • Views: …
More Releases from The Business Research Company
Emerging Trends to Reshape the Surgical Energy Instruments Market: Innovative Te …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
Surgical Energy Instruments Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
In the past few years, the market size of surgical energy instruments has seen substantial growth. The market which is projected to be worth $4.68 billion in 2024, is expected to inflate to $5.2…
2025-2034 Spatial omics Market Evolution: Disruptions, Innovations, and Untapped …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Spatial omics Market Through 2025?
In recent years, the size of the spatial omics market has seen rapid expansion. The estimations show an increase to $0.33 billion in 2025 from $0.3 billion in 2024, marking a compound annual growth rate (CAGR) of…
Global Sigmoidoscope Market Projected to Grow at 6.1% CAGR, Reaching $3.38 Billi …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Will the Sigmoidoscope Industry Market Size Be by 2025?
In recent years, there has been a significant increase in the size of the sigmoidoscope market. The market is projected to expand from $2.53 billion in 2024 to $2.67 billion in 2025, demonstrating a compound annual growth rate (CAGR)…
2025-2034 Refurbished MRI Systems Market Roadmap: Insights for Competitive Advan …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
How Large Will the Refurbished MRI Systems Market Size By 2025?
The market size for refurbished MRI systems has experienced robust growth in the past few years. It is expected to rise from $0.77 billion in 2024 to $0.85 billion in 2025, showcasing a compound annual growth rate (CAGR)…
More Releases for Software
Takeoff Software Market May See a Big Move | Sage Software, Bluebeam Software, Q …
Latest Study on Industrial Growth of Takeoff Software Market 2023-2028. A detailed study accumulated to offer Latest insights about acute features of the Takeoff Software market. The report contains different market predictions related to revenue size, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments…
Robot Software Market Analysis by Software Types: Recognition Software, Simulati …
The Insight Partners provides you global research analysis on “Robot Software Market” and forecast to 2028. The research report provides deep insights into the global market revenue, parent market trends, macro-economic indicators, and governing factors, along with market attractiveness per market segment. The report provides an overview of the growth rate of the Robot Software market during the forecast period, i.e., 2021–2028.
Download Sample Pages of this research study at: https://www.theinsightpartners.com/sample/TIPRE00007689/?utm_source=OpenPR&utm_medium=10452…
HR Software Market Analysis by Top Key Players Zenefits Software, Kronos Softwar …
HR software automates how companies conduct business with relation to employee management, training and e-learning, performance management, and recruiting and on-boarding. HR professionals benefit from HR software systems by providing a more structured and process oriented approach to completing administrative tasks in a repeatable and scalable manner. Every employee that is added to an organization requires management of information, analysis of data, and ongoing updates as progression throughout the company…
HR Software Market by Top Manufacturers – Zenefits Software, Kronos Software, …
Global HR Software market could be classified into different regions and countries for a clear understanding of business prospects available across the globe. This intelligence research study presents a wide-ranging study of the global market by evaluating the growth drivers and detaining factors at length. This detailed study of significant factors supports the market participants in understanding the issues they will be facing while operative in this market over a…
HR Software Market by Top Manufacturers – Zenefits Software, Kronos Software, …
Global HR Software market could be classified into different regions and countries for a clear understanding of business prospects available across the globe. This intelligence research study presents a wide-ranging study of the global market by evaluating the growth drivers and detaining factors at length. This detailed study of significant factors supports the market participants in understanding the issues they will be facing while operative in this market over a…
HR Software Market Analysis by Top Key Players – Zenefits Software, Kronos Sof …
HR software helps HR personnel automate many necessary tasks, such as maintaining employee records, time tracking, and benefits, which allows HR professionals to focus on recruiting efforts, employee performance and engagement, corporate wellness, company culture, and so on. These human management tools can be purchased and implemented as on premise or cloud-based software.
This market studies report on the Global HR Software Market is an all-inclusive study of the enterprise sectors…
