What is the Historical Analysis of the Independent Software Vendors Market Size?
The independent software vendors market has seen considerable growth due to a variety of factors.
• The market size for independent software vendors has seen a significant expansion in the past few years. With a compound annual growth rate (CAGR) of 16.7%, it is projected to surge from $3.09 billion in 2024, to $3.61 billion in 2025. The historical growth has been fuelled by factors such as the rising adoption of cloud solutions, the increasing integration of digital solutions, elevated demand for products within emerging economies, increased preference for multi-cloud and hybrid cloud, as well as the surge in volumes of independent software vendor products.
What is the Forecasted Growth of the Independent Software Vendors Market Size?
The independent software vendors market is expected to maintain its strong growth trajectory in upcoming years.
• It is anticipated that the independent software vendors market will experience a significant surge in growth in the coming years. The market is forecasted to expand to $6.59 billion by 2029, with a compound annual growth rate (CAGR) of 16.3%.
This projected growth during the estimate period is likely due to factors such as the increased adoption of software as a service (SaaS), surge in worldwide IT expenditure, the need for regulatory compliance, heightened demand for tailor-made solutions, and the escalating incorporation of digital solutions. Noticeable trends for the forecasted period encompass advancements in smart software platforms, software development for internet of things (IoT) devices, technological breakthroughs, the inclusion of artificial intelligence, and the integration of machine learning (ML).
Which Drivers Are Accelerating Growth In The Independent Software Vendors Market?
The escalating need for services and resources accessed through cloud-based solutions is projected to drive the expansion of the independent software vendor market. The surge in demand for these solutions can be attributed to heightened security and compliance measures, the ability to access applications remotely, and prioritizing a resilient and highly redundant infrastructure. Additionally, cloud-based solutions give an upper hand over on-site systems by providing superior scalability and flexibility. Independent software vendors utilize this advantage by delivering software that can adapt rapidly to customer needs, be it in terms of greater data storage, computing power, or user capacity. As an example, Eurostat, the statistical office of the European Union in Luxembourg, revealed in December 2023 that around 45.2% of enterprises in the European Union leveraged cloud computing services in 2023. This was primarily for tasks such as email hosting and file storage, reflecting a significant increase of 4.2 percentage points from 2021. Moreover, in 2023, the most commonly sought-after cloud computing services were email services at 82.7%, file storage services at 68.0%, and office software at 66.3%. Consequently, the burgeoning demand for cloud-based solutions is fueling the independent software vendor market.
What Is The Segmentation Of The Global Independent Software Vendors Market?
The independent software vendors market covered in this report is segmented –
1) By Type: Cloud, On-Premise
2) By Enterprises Size: Small And Medium-Sized Enterprises (SMEs), Large Enterprises
3) By End-User Industry: Healthcare, Financial Services, Manufacturing, Retail, Information Technology, Government, Education, Other End-User Industry
Subsegments:
1) By Cloud: Software as a Service (SaaS), Platform as a Service (PaaS), Infrastructure as a Service (IaaS), Cloud-Based Enterprise Resource Planning (ERP) Software, Cloud-Based Customer Relationship Management (CRM) Software, Cloud-Based Data Analytics & Business Intelligence Tools
2) By On-Premise: On-Premise Enterprise Resource Planning (ERP) Software, On-Premise Customer Relationship Management (CRM) Software, On-Premise Database Management Software, On-Premise Security Software, On-Premise Business Intelligence & Analytics Tools, On-Premise Human Resource Management Systems (HRMS)
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What Emerging Trends Are Shaping The Independent Software Vendors Market Landscape?
Major firms in the independent software vendors market are concentrating on providing sophisticated services, such as independent software vendors (ISV) as a service, to speed up software-as-a-service (SaaS) possibilities and business growth. The service model for Independent Software Vendors (ISVs) implies that ISVs deliver their software goods and related services in a service-oriented manner, mostly utilizing cloud technologies. For example, TD SYNNEX, a software publishing firm based in the United States, introduced the Independent Software Vendor (ISV) experience in July 2022. This fresh offering is intended to speed up the Software-as-a-Service (SaaS) possibilities of the channel by using the TD SYNNEX partner ecosystem to power IT operations, automate complex processes, and introduce new features that increase sales, enhance go-to-market strategies, and yield successful business results. It comes with streamlined billing and provisioning via cloud marketplaces, multi-cloud billing and pricing model support, access to a comprehensive IT solutions provider ecosystem, accelerated solution deployment with next-generation technologies, low-investment professional services, on-demand marketing programs, and personalized assistance from tech experts. These improvements aid ISVs in creating efficient channel strategies and promoting business expansion.
Who Are the Key Players in the Independent Software Vendors Market?
Major companies operating in the independent software vendors market are include:
•Alphabet Inc.
• Microsoft Corporation
• IBM Corporation
• Cisco Systems Inc.
• Oracle Corporation
• SAP SE
• Hewlett Packard Enterprise Development LP
• Salesforce.com Inc.
• Adobe Inc.
• ADP LLC
• VMware Inc.
• Intuit Inc.
• Wipro Limited
• ServiceNow Inc.
• Autodesk Inc.
• Twilio Inc.
• DocuSign Inc.
• Allscripts Healthcare Solutions Inc.
• CrowdStrike Holdings Inc.
• Virtusa Corporation
• Magic Software Enterprises
• ASG Technologies
• Kellton Tech
What are the Regional Insights into the Independent Software Vendors Market?
North America was the largest region in the independent software vendors market in 2024. Asia-Pacific is expected to be the fastest-growing region in the market going forward. The regions covered in the independent software vendors market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
