Business Software & Services Market Analysis - New Opportunities Explored, Expansion at 10.7% CAGR Anticipated By 2025 | Million Insights

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Jun 09, 2020, 04:40 ET

FELTON, California, June 9, 2020 /PRNewswire/ -- The global Business Software And Services Market is anticipated to reach USD 650.13 billion by the end 2025, according to a new report released by Million Insights. The market is anticipated to grow at a CAGR of 10.7% from 2019 to 2025. Rising adoption of emerging technologies and automation to improve the operational efficiency across several industries including BFSI, government, retail, manufacturing, and healthcare is projected to proliferate the market growth.

Benefits such as improved operational efficiency, reduced cost of production, and timely product delivery obtained by implementing such enterprise solutions are projected to drive the demand from 2019 to 2025. Moreover, this software aid the process of strategic decision making by providing analytical tools that ensure data portability and transparency. This factor helps in minimizing the pitfalls in business operations, thereby, driving the demand across the globe.

Majority of the large enterprises and SMEs are emphasizing on deployment of cloud services and solutions to provide enhanced data accessibility to their clients and users. Therefore, most of the companies are deploying software solutions on cloud-based data portals.

Please click here to get the sample pdf and find more details on "Business Software and Services Market" Report 2025.

Moreover, factors such as technological advancements, adoption of cloud-based software solutions, and increasing use of emerging data sources are propelling the demand for customized software that fulfill specific requirements of clients. Furthermore, rising adoption of supply chain management software to optimize the delivery process is further anticipated to boost the growth of business software & services market over the forecast period.

Further key findings from the report suggest:

The segment of sales and marketing software and services is projected to attain the fastest CAGR of 11.2% over the forecast period owing to the detailed company overview provided by this software.
The segment of managed services is projected to grow at the fastest CAGR of 12.2% over the forecast period, 2019 – 2025.
The cloud deployment segment is projected to grow at the fastest rate over the forecast period owing to easy accessibility of data from remote locations.
The segment of small and medium enterprises is projected to attain the fastest growth at a CAGR of more than 11.2% from 2019 to 2025 owing to rising number of government campaigns through social media and search engine marketing to promote the adoption of emerging technologies.
North America held the largest revenue share across the global business software & services market and is expected to maintain its leading position from 2019 to 2025 owing to rising adoption of emerging technologies such as artificial intelligence, block chain, JavaScript, hybrid architechture, and machine learning across the region.
Leading players in this industry are Deltek, Inc.; Acumatica, Inc.; Epicor Software Corporation; Infor Inc.; IBM Corporation; NetSuite Inc.; SAP SE; Microsoft Corporation; Oracle Corporation; SYSPRO; Unit4; and Totvs SA.

Browse 161 page research report with TOC on "Global Business Software & Services Market" at: https://www.millioninsights.com/industry-reports/global-business-software-services-market

Million Insights has segmented the global business software and services market based on software, service, deployment, enterprise size, end use, and region:

Business Software Outlook (Revenue, USD Billion, 2019 - 2025)

Finance

Human Resource
Sales & Marketing
Supply Chain
Others

Business Service Outlook (Revenue, USD Billion, 2019 - 2025)

Consulting

Managed Services
Support & Maintenance

Business Software and Services Deployment Outlook (Revenue, USD Billion, 2019 - 2025)

Cloud

On-Premise

Business Software and Services Enterprise Size Outlook (Revenue, USD Billion, 2019 - 2025)

Large Enterprises
Small & Medium Enterprises

Business Software and Services End Use Size Outlook (Revenue, USD Billion; 2019 - 2025)

Aerospace & Defense BFSI
Government
Healthcare
IT & Telecom
Manufacturing
Retail
Transportation
Others

Business Software and Services Region Outlook (Revenue, USD Billion, 2019 - 2025)

North America

U.S.
Canada

Europe

Germany
U.K.

Asia Pacific

China
India
Japan

Latin America

Brazil

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