Independent Software Vendors (ISVs) Market: Overview
According to a new market report pertaining to the global independent software vendors (ISVs) market published by Transparency Market Research, the global independent software vendors (ISVs) market is anticipated to reach ~US$ 4,077.72 BN by 2027. The independent software vendors (ISVs) market is projected to expand at a CAGR of ~13% from 2019 to 2027 in terms of revenue. Growing need to adopt new IT solutions with modern consumer trends in recent years is expected to lead to the growth of the independent software vendors (ISVs) market during the forecast period. Asia Pacific is projected to emerge as the leading independent software vendors (ISVs) market, followed by North America, during the forecast period.
Rising Adoption of Software as a Service (SaaS) Drives Independent Software Vendors (ISVs) Market
Software as a Service (SaaS) is one of the major cloud computing models expected to gain traction over conventional on-premise software licensing models in the near future. Robust growth exhibited by the market is due to rising number of companies looking for flexible, cost-effective, and robust cloud computing solutions, creating new opportunities for independent software vendors (ISVs). Growing business outsourcing of software and services, along with the rising need to adopt new IT solutions due to modern consumer trends are expected to boost the growth of SaaS. ISVs are meeting IT and line-of-business buyer demand for greater speed, agility, and scalability with cloud-enabled and cloud-native solutions, thus augmenting the growth of the independent software vendors (ISVs) market.
Independent Software Vendors (ISVs): Market Segmentation
The global independent software vendors (ISVs) market has been segmented in terms of software deployment, application, and region. Based on software deployment, the independent software vendors (ISVs) market has been classified into cloud and on-premise. Cloud segment dominated the market in 2018 and is expected to maintain its dominance during the forecast period. Based on application, the independent software vendors (ISVs) market has been categorized into financial services, healthcare, industrial & manufacturing, public sector & utilities, retail, service providers, telecom, media & entertainment, education, and others. Others application segment covered in the scope of study includes hospitality, transportation, etc. Financial services is expected to account for leading share in the global market. The sector is expected to continue its dominance in the coming years.
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Independent Software Vendors (ISVs) Market: Regional Outlook
In terms of region, the global independent software vendors (ISVs) market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa and South America. North America is expected to dominate the independent software vendors (ISVs) market during the forecast period. This trend is attributed to the strong presence of independent software vendors (ISVs) in the regional market. The U.S. is expected to lead the North America independent software vendors (ISVs) market due to substantial number of independent software vendors (ISVs) in the country. The independent software vendors (ISVs) market in Asia Pacific is expected to expand at a higher CAGR over the forecast period. The market in Middle East & Africa and South America is also projected to expand moderately over the forecast period.
The report provides in-depth segment analysis as well as cross country analysis of the global independent software vendors (ISVs) market, thereby providing valuable insights at macro as well as micro levels. Analysis of major countries which hold growth opportunities or account for significant share has also been included as part of geographic analysis of the independent software vendors (ISVs) market.
