Press release
Software Products Market Outlook 2025-2034: Key Trends, Growth Drivers, and Market Share
Software Products Market Share
The projected uptake of IoT (Internet of Things) technology in manufacturing and transportation services is anticipated to push demand in the software products market over the forecast period. IoT refers to a network of physical objects, including devices, vehicles, and buildings, embedded with electronics, software, sensors, and network connectivity that allows for data collection and exchange. To illustrate, Microsoft and Rolls-Royce are pioneering a partnership focused on the development of future intelligent Rolls-Royce engines that will incorporate Microsoft Suite into their service solutions to enhance digital capabilities. For example, the Health Sector Cybersecurity Coordination Center (HC3), a component of the Department of Health and Human Services' (HHS) Cybersecurity Program in the US, reported in August 2022 that around 7 billion devices are connected via IoT in 2022, and this figure is expected to see significant growth, with an additional 20 billion devices projected to utilise this technology by 2025. As such, the uptake of IoT technology is predicted to lead to an increase in demand for software products.
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What is the projected compound annual growth rate (CAGR) of the software products market from 2025 to 2034, and what factors influence it?
There has been a swift expansion in the market size of software products in recent times. An increase from $1774.09 billion in 2024 to $1982.18 billion in 2025 is expected, yielding a compound annual growth rate (CAGR) of 11.7%. Factors contributing to this historical period growth include the rise of enterprise resource planning, e-commerce surge, development in mobile applications, the proliferation of the open-source movement, and concerns regarding cybersecurity.
The market size of software products is predicted to experience a swift expansion in the forthcoming years. By 2029, it is anticipated to balloon to $3040.45 billion, with a compound annual growth rate (CAGR) of 11.3%. This growth during the projected period can be credited to expanding digital transformation endeavors, the evolution of smart cities, edge computing, robotic process automation, and solutions for privacy and compliance. Key trends during this period include the adoption of cloud-native and SaaS, tools for remote collaboration, low-code and no-code development, blockchain applications, and the incorporation of AI in business processes.
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How are the latest trends influencing the growth of the software products market?
Leading corporations in the software products sector are leveraging the launch of innovative offerings like the Google Pixel 7 and 7 Pro to boost market revenue. Google Pixel 7 and 7 Pro are software based products that operate on the most recent Android version, offering a simplistic, unaltered Android experience, complemented by prompt software updates straight from Google. For illustration, Google, a software firm based in the US, unveiled the Google Pixel 7 and 7 Pro in October 2022. These smartphones come with enhanced cameras, refined aesthetics, and fresh color options. Both models run on Android 13 and feature a private computer core, Android System Intelligence, end-to-end encryption for Android messages, and Android backup encryption.
What are the major segments of the software products market and their role in driving growth?
The software products market covered in this report is segmented -
1) By Type: Operating Systems And Productivity Software Publishing, Database, Storage And Backup Software Publishing, Business Analytics And Enterprise Software, Video Game Software, Design, Editing And Rendering Software
2) By Application: Large Enterprises, Small And Medium Enterprises
3) By End-User Industry: BFSI, Media And Entertainment, IT And Telecommunications, Energy And Utilities, Government And Public Sector, Retail And Consumer Goods, Manufacturing, Other End User Industries
Subsegments:
1) By Operating Systems And Productivity Software Publishing: Desktop Operating Systems, Mobile Operating Systems, Office Suites, Collaboration Tools
2) By Database, Storage And Backup Software Publishing: Relational Databases, NoSQL Databases, Cloud Databases, Data Warehousing Solutions, Backup Software, Cloud Storage Solutions, On-Premises Storage Solutions, Archiving Software
3) By Business Analytics And Enterprise Software: Business Intelligence Tools, Customer Relationship Management (CRM), Enterprise Resource Planning (ERP), Supply Chain Management Software
4) By Video Game Software: Console Games, PC Games, Mobile Games, Game Development Tools
5) By Design, Editing And Rendering Software: Graphic Design Software, User Experience (UX) Design Tools, 3D Modeling Software, CAD Software: Video Editing Software, Audio Editing Software, Photo Editing Software, Animation Software
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Which regions are key players in the growth of the software products market?
Asia-Pacific was the largest region in the software products market in 2024. North America was the second largest region of the software products market. The regions covered in the software products market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the key firms paving the way for growth in the software products market?
Major companies operating in the software products market include Amazon Inc., Apple, Alphabet Inc., Microsoft Corp., Dell Technologies Inc., Sony Corp., Tencent Holdings Co. Ltd., Intel Corporation, HP Inc., International Business Machines Corporation, Oracle Corp., SAP SE, salesforce.com, Fiserv Inc., Adobe Systems Incorporated, Nintendo Co ltd., NetApp, Autodesk Inc., Zoom Video Communications Inc., Citrix Systems, Atlassian Corporation plc, Splunk Inc., Check Point Software Technologies Ltd., DocuSign Inc., Ubisoft, ServiceNow Inc., CrowdStrike Holdings Inc.
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What Is Covered In The Software Products Global Market Report?
•Market Size Forecast: Examine the software products market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the software products market for a structured understanding.
•Key Players Overview: Analyze major players in the software products market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the software products market.
•Segment Contributions: Evaluate how different segments drive overall growth in the software products market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the software products market.
•Industry Challenges: Identify potential risks and obstacles affecting the software products market.
•Competitive Landscape: Review strategic developments in the software products market, including expansions, agreements, and new product launches.
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