Independent Software Vendors Market Overview:
The Independent Software Vendors market is projected to grow from USD 289.8 Billion in 2023 to USD 910.7 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 13.6% during the forecast period (2023 – 2032).
An Independent software vendor (ISV) can be expressed as an organization that is involved in the development and sales of software to consumers across industries. The upsurge of the independent software vendors (ISVs) market is driven by augmenting the adoption of cloud solutions by the end-use industries to enhance their operational efficiency and reduce costs.
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Key Companies in the Independent Software Vendors market include,
- Hewlett Packard Enterprise Development LP
- IBM Corporation
- Oracle Corporation
- Cisco Systems, Inc.
- Salesforce.Com, Inc.
- Apple Inc
- SAP SE
Culturing integration of digital solutions in the healthcare industry is projected to drive market growth at a significant rate during the review period. In addition to this, growing product demand in developing nations is expected to create lucrative growth opportunities for the players running in the global market.
The worldwide independent software vendors (ISV) market is set to accumulate growth at a modest pace owing to the scope for small and medium enterprises and the entry of new players for reducing the prices of products and services. Cloud technology is projected to rule in the global market owing to the benefits of the cloud. In addition, the requirement for companies to scale their services without being pulled back by restraints and hurdles can push the segment demand in the market. Changing customer routine and convenience of home delivery is likely to propel the demand for ISVs to provide storage options and seamless customer experience for mobile application users.
The Global Independent Software Vendors (ISVs) Market report provides an integrated evaluation of the market. The report provides a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that play a significant role in the market.
The Global Independent Software Vendors (ISVs) Market is segmented into the following types;
By Product Type
- Cloud Based
By End Users / Applications
The Global Independent Software Vendors (ISVs) Market is divided into five regions; North America, Asia Pacific, Europe, Latin America, and the Middle East & Africa.
North America is estimated to take the lead in the worldwide independent software vendors market owing to the abundance of ISVs and ease of business index in nations of the U.S. and Canada. The route to digital payments and virtualization of infrastructure is anticipated to be opportunities for the market to expand in the region.
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APAC is acknowledged to exhibit the fastest-growing market owing to the rapid pace of the economies of India and China. The shift towards electric mobility and espousal of the latest communication networking technologies would require software licenses at nominal rates that could be advantageous for ISVs. Moreover, the ambition of governments for launching digital currencies and connect all remote regions through blazing internet speeds can invoke the requirement for independent software vendors.
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