API Management Global Market Report 2023 – By Component (Solutions, Services), By Deployment (On-premises, Cloud), By Organization Size (Large Enterprises, Small and Medium Size Enterprises), By Vertical (BFSI, IT and Telecom, Retail and Consumer Goods, Travel and Transportation, Government, Media and Entertainment, Healthcare and Life Sciences, Manufacturing, Other Verticals (Education and Energy and Utilities)) – Market Size, Trends, And Global Forecast 2023-2032

Application security refers to the process of creating, incorporating, and testing security measures into applications to guard against dangers including illegal access and modification. It also includes tools and methods to protect applications once application security is deployed. Only goods and services traded between entities or sold to end consumers are included. The application security market covered in this report is segmented by solution into web application security, and mobile application security; by testing type into static application security testing, dynamic application security testing, and interactive application security testing; by end-user into BFSI, IT & telecommunication, government and defence, healthcare, retail, education, others. The global application security market is segmented - 1) By Solution: Web Application Security, Mobile Application Security 2) By Testing Type: Static Application Security Testing, Dynamic Application Security Testing, Interactive Application Security Testing 3) By End-User: BFSI, IT And Telecommunication, Government And Defense, Healthcare, Retail, Education, Other End Users The global application security market size will grow from $9.41 billion in 2022 to $11.55 billion in 2023, at a compound annual growth rate (CAGR) of 22.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the application security is expected to grow to $27.49 billion in 2027 at a CAGR of 24.2%. Increased security breaches at the business application level contributed to the growth of the application security market. For instance, in March 2020, Keepnetlabs, a UK-based security firm, announced a data leak that exposed nearly 5 billion records. Application security enhances the security of the web and mobile-based applications that can mitigate some of the breaches through the application. Thus, the rising security breaches at the business application level drove the market for the application security. Major players in the application security market are IBM Corporation, Synopsys, Checkmarx, Veracode, MicroFocus, WhiteHat Security, Rapid7, Contrast Security, Qualys, and Trustwave. The lack of application security expertise is expected to limit the growth of the application security market over the forthcoming years. According to Burning Glass International Inc., an analytics software company, the demand for application development security and cloud security is a fast-growing skills area projected to grow 164%, and 115% respectively between 2020-2025. According to the ESG and Information Systems Security Association (ISSA) analysis published in August 2020, 70% of cybersecurity professionals claim that their organization is facing issues with the cybersecurity skill shortage. In the past four years, the percentage ranged from a low of 69% to a high of 74%. Therefore, the lack of application security expertise is projected to restrict the growth of the application security market. Artificial intelligence (AI) and machine learning (ML) are increasingly being used to prevent attacks on the web or mobile-based applications. AI can be used to automate threat detection and respond more effectively than a traditional software-driven approach. AI-based cybersecurity will train itself continuously and independently gather the data across the enterprise information systems through that data it analyses and performs correlation of patterns across billions of signals relevant to the cyberattacks and solve the issue. For instance, Fortinet, a California-based security solutions company provides solutions from network and web application security to threat protection for IT infrastructure. Fortinet’s AI-based product, FortiWeb, is a web application firewall that uses machine learning and two layers of statistical probabilities for detecting attacks and threats. In April 2020, Hellman & Friedman (H&F), a US-based software security solution provider for DevOps, acquired Checkmarx, a software security solutions company from Insight Partners for a deal amount of $1.15 billion. The acquisition is expected to drive the company’s growth and the cybersecurity threats continue to intensify, so embedding security early in the software development lifecycle is critical. Checkmarx is an Israel-based software security solution for modern enterprise software development and is engaged in providing static and interactive application security testing training development, software composition analysis, and application security. North America was the largest region in the application security market in 2022. The regions covered in the application security market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the application security market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The application security market includes revenues earned by entities by scanning database security, analysing software composition, and testing interactive application security. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The application security market research report is one of a series of new reports from The Business Research Company that provides application security market statistics, including application security industry global market size, regional shares, competitors with an application security market share, detailed application security market segments, market trends and opportunities, and any further data you may need to thrive in the application security industry. This application security market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The application development software refer to the process of designing, developing, and implementing software applications for various industrial uses. The application development can be done by a large team or a single programmer as well and describes the process of how the application is made, and generally follows a standard methodology. The main types of application development software are low code and no code. Low code development is an approach to software development to optimize the development process and speed up the delivery of the software, thus helping the enterprises to automate every step of the application of the product lifecycle. The various deployment types of application development software are on-cloud and on premise. Application development software is mainly used by organizations such as small and medium enterprises and large enterprises. The various applications of application development software are media and entertainment, telecom and IT, BFSI, and healthcare. The global application development software market is segmented - 1) By Type: Low Code, No Code 2) By Organization Size: SMEs, Large Enterprises 3) By Deployment: Cloud, On Premise 4) By Application: Media and Entertainment, Telecom and IT, BFSI, Healthcare The global application development software market size will grow from $260.79 billion in 2022 to $334.86 billion in 2023 at a compound annual growth rate (CAGR) of 28.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the application development software is expected to grow to $915.96 billion in 2027 at a CAGR of 28.6%. The increasing demand for customized apps is expected to propel the growth of the application development software market. Customized apps offer features such as being friendly to hybrid environments, serving niche and complex needs, easy integration with platforms, and better performance. According to a survey conducted by SmarterHQ, a US-based provider of a customer intelligence-driven marketing automation platform, on Data Privacy and Consumer Trust, 72% of consumers say that they only engage with personalized messaging and 80% of frequent shoppers only shop with brands that personalize the online experience. Therefore, increasing demand for customized apps is expected to drive the application development software market growth. Major players in the application development software are Alphabet Inc., AppSheet, Axure RP, Azure, CA Techology, Compuware Corporation, Datadog Cloud Monitoring, Fujitsu Ltd., GitHub, Google Cloud Platform, HCL Technologies, HP, IBM Corporation, Joget Workflow, Microsoft Corporation, Oracle Corporation, Salesforce, SAP HANA Cloud Platform, ServiceNow Inc., Snappii Custom Mobile Apps, Wipro Limited, and Zoho Corporation. The low code app development platform is a key trend gaining popularity in the application development software market. Low code development is an approach of software development to optimize the development process and speed up the delivery of the software, thus helping the enterprises to automate every step of the application of the product lifecycle. For instance, in June 2021, Salesforce, a US-based software company, released a powerful set of low-code development tools that allow everyone within an organization, to create and ship apps on a single platform. The platform includes interactive app development and automation, along with the new elastic computing, identity management, AI-driven data protection, and DevOps capabilities to help teams drive business outcomes faster. In January 2021, Cognizant, a US-based information technology services and consulting company, acquired Magenic Technologies for an undisclosed amount. The acquisition is expected to enable Cognizant to enhance its capabilities in software development and cloud modernization along with Cognizant's software product engineering footprint. Magenic Technologies is a US-based custom software development services company. North America was the largest region in the application development software market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the application development software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the application development software market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The application development software market includes revenues earned by entities by providing software tools for more efficient app-building and user interface (UI) design process by offering low-coding approaches and user-friendly app-building systems for front and back-end development including security, data storage, and monitoring layers. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The application development software market research report is one of a series of new reports from The Business Research Company that provides application development software market statistics, including application development software industry global market size, regional shares, competitors with an application development software market share, detailed application development software market segments, market trends and opportunities, and any further data you may need to thrive in the application development software industry. This application development software market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Application lifecycle management refers to an integrated system of tools, processes, and people that supervise a software application from its initial planning and development stage. This aids businesses in establishing and meeting project criteria. Application lifecycle management is used to provide a framework for software development and help manage the software. The main types of solutions in application lifecycle management are software and services. Application lifecycle management (ALM) provides a framework for software creation as well as ongoing software administration. This is deployed either on the cloud or on-premise into various organization sizes, such as small and medium-sized enterprises (SMEs), and large enterprises. It is employed in several industry verticals, such as banking, financial services, and insurance (BFSI), telecom and IT, media and entertainment, retail and eCommerce, healthcare, manufacturing, energy and utilities, and others. The global application lifecycle management market is segmented - 1) By Solution: Software, Services 2) By Deployment: On-Premises, Cloud 3) By Organisation Size: Small and Medium-Sized Enterprises (SMEs), Large Snterprises 4) By Industry Vertical: Banking, Financial Services, and Insurance (BFSI), Telecom and IT, Media and Entertainment, Retail and eCommerce, Healthcare, Manufacturing, Energy and Utilities, Other Industry Verticals The global application lifecycle management market size will grow from $4.34 billion in 2022 to $4.69 billion in 2023 at a compound annual growth rate (CAGR) of 8.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the application lifecycle management is expected to grow to $6.27 billion in 2027 at a CAGR of 7.5%. The rapid adoption of mobile devices is expected to propel the growth of the application lifecycle management market going forward. A mobile device refers to a small, hand-held device that has a display screen with touch input and provides users with telephony capabilities. Application lifecycle management helps in ease of use for mobile applications and also helps in mobile testing and quality management. For instance, according to the Economic Times, an India-based daily newspaper, as of October 2021, there were 1.18 billion mobile connections, 700 million Internet users, and 600 million smartphones in use in India. In addition, India has the greatest monthly data use, at almost 12 GB per person. Therefore, the rapid adoption of mobile devices is driving the application lifecycle management market growth. Major players in the application lifecycle management market are Atlassian Corporation PLC., International Business Machines Corporation, Microsoft Corporation, Micro Focus, CollabNet, Digite, Inflectra, Perforce, Siemens, CA Technologies Inc., Hewlett-Packard Development Company L.P., Rocket Software Inc., Changepoint Corporation, and VersionOne Inc. New product innovations have emerged as the key trend gaining popularity in the application lifecycle management market. Major companies operating in the market are introducing new innovative products to sustain their position in the market. For instance, in January 2020, Inflectra, a US-based company that develops application lifecycle management software, launched the latest version of the application lifecycle management SpiraTeam platform, the SpiraTest system. The new version of SpiraPlan v6.3 provides several key enhancements, such as saved views, shareable folders, new document upload controls, and major usability and performance enhancements. In April 2022, PTC, a US-based company that develops application lifecycle management software, acquired Intland for a deal amount of $280 million. This acquisition helps PTC in developing a new application lifecycle management portfolio and increases its footprint. Also, it would help PTC in developing cloud-ready software products. Intland is a Germany-based company that develops application lifecycle management software tools and solutions. North America was the largest region in the application lifecycle management market in 2022. The regions covered in the application lifecycle management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the application lifecycle management market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The application lifecycle management market includes revenues earned by entities by providing services such as defining requirements, development of the product, testing and quality assurance, deployment, continuous maintenance and improvement of the product. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The application lifecycle management market research report is one of a series of new reports from The Business Research Company that provides application lifecycle management market statistics, including application lifecycle management industry global market size, regional shares, competitors with an application lifecycle management market share, detailed application lifecycle management market segments, market trends and opportunities, and any further data you may need to thrive in the application lifecycle management industry. This application lifecycle management market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Application management services refer to the services of enterprise application management provided by various organizations to companies that need to outsource their enterprise application management processes. The application management services are used to provide ongoing support for the apps to an external provider that specialises in maintenance and monitoring. The types of services in application management services are application portfolio assessment, application security, application modernization, web and mobile, cloud application migration, and other service types. The application portfolio assessment refers to the service that scans and evaluates applications by using analytics on them. The deployment types include on-premise and cloud. The organizations include small and medium-sized enterprises and large enterprises. The various industry verticals include telecom & IT, BFSI, healthcare, retail & eCommerce, government & defense, manufacturing, and other industry verticals. The global application management services market is segmented - 1) By Services Type: Application Portfolio Assessment, Application Security, Application Modernization, Web and Mobile, Cloud Application Migration, Other Service Type 2) By Deployment Type: On Premise, Cloud 3) By Organization Size: Small and Medium Enterprises, Large Enterprises 4) By Industry Vertical: Telecom and Information Technology (IT), Banking, Financial Services and Insurance (BFSI), Healthcare, Retail and eCommerce, Government and Defense, Manufacturing, Other Industry Vertical The global application management services market size will grow from $27.72 billion in 2022 to $32.83 billion in 2023 at a compound annual growth rate (CAGR) of 18.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the application management services is expected to grow to $63.93 billion in 2027 at a CAGR of 18.1%. The high demand for mobile apps is expected to propel the growth of the application management services market. Mobile apps refer to the kind of software intended for use on a mobile device, like a tablet or smartphone. Application management services help mobile apps provide and control access to internally developed and commercially available mobile apps used in business settings. For instance, in October 2020, according to the data published by Sensor Tower, a US-based technology, information, and internet company engaged in mobile analytics and mobile data, in the third quarter of 2020, on Apple's App Store, consumer spending on in-app purchases, subscriptions, and premium apps increased by 31% to reach $19 billion, from $14.5 billion as compared to the previous year 2019. However, the number of app installations increased by 23.3% in 2020, from 29.6 billion in 2019.Therefore, the high demand for mobile apps is driving the application management services market growth. Major players in the application management services market are Accenture plc, Fujitsu Limited, IBM Corporation, DXC Technology, HCL Technologies, Wipro Limited, Atos, Capgemini SE, Cognizant, Tech Mahindra, Dell, Infosys Limited, Oracle Corporation, SAP SE, Deloitte Touche Tohmatsu Limited, Amazon Web Services, Google LLC, Larsen & Toubro Infotech Limited, Micro Focus International plc, Optimum Solutions, and Neoris. Strategic partnerships and collaborations are a key trend gaining popularity in the application management services market. The major players in the application management services sector are focused on partnerships and collaborations to sustain their market position. For instance, in May 2021, CapTech Consulting, a US-based IT services and consulting company, partnered with Workday, a software development company, for Workday Application Management Services. This partnership enables advanced technology integration along with data insight and change management. With Workday Financial Management and Workday Human Capital Management, Workday AMS enables Captech to offer continuing functional, technical, and administrative assistance to clients in production (HCM). In November 2020, IBM, a US-based technology corporation, acquired Instana for an undisclosed amount. With the acquisition of Instana, IBM can deliver the most advanced AI-powered automation capabilities available to handle the complexity of modern applications running across multiple hybrid cloud environments. Also, as a result of quick automatic feedback on their CI/CD pipeline, DevOps teams may significantly speed up deployment while also improving quality and reliability. Instana is a US-based company that offers application observability and monitoring solutions. North America was the largest region in the application management services market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the application management services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the application management services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The application management services market consists of revenues earned by entities by providing custom management systems, software, and business intelligence. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the chain or as part of other products. The application management services market research report is one of a series of new reports from The Business Research Company that provides application management services market statistics, including application management services industry global market size, regional shares, competitors with an application management services market share, detailed application management services market segments, market trends and opportunities, and any further data you may need to thrive in the application management services industry. This application management services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Application testing services is a broad term that refers to all varieties of verification and validation services that support the quality assurance (QA) and quality control (QC) of clients' applications. Both validation and verification evaluate the technical and functional behaviour of the tested components. The main types of application testing services market testing types include functionality testing, usability testing, performance testing, compatibility testing, security testing, compliance testing, automation testing, and others. Functionality testing is used to check whether a system's functionality complies with its specific functional requirements. A type of software testing called functional testing checks the system's functionality against the software requirements. Small and medium-sized businesses, as well as large corporations, are represented, and a variety of service types, such as professional services and managed services, are provided. The different delivery modes include onshore, offshore, nearshore, and onsite. The various verticals include telecom and IT, BFSI, healthcare and life sciences, government and the public sector, media and entertainment, manufacturing, retail, and others. The global application testing services market is segmented - 1) By Testing Type: Functionality Testing, Usability Testing, Performance Testing, Compatibility Testing, Security Testing, Compliance Testing, Automation Testing, Other Testing Types 2) By Organization Size: Small and Medium Enterprises, Large Enterprises 3) By Service Type: Professional Services, Managed Services 4) By Delivery Model: Onshore, Offshore, Nearshore, Onsite 5) By Vertical: Telecom and IT, BFSI, Healthcare and Life Sciences, Government and Public Sector, Media and Entertainment, Manufacturing, Retail, Energy and Utilities, Logistics and Transportation, Other Verticals The global application testing services market size will grow from $38.17 billion in 2022 to $42.87 billion in 2023 at a compound annual growth rate (CAGR) of 12.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the application testing services is expected to grow to $66.59 billion in 2027 at a CAGR of 11.6%. Digital transformations of businesses are expected to propel the growth of the application testing services market going forward. "Digital transformation" refers to the integration of digital technology across all functional areas of a company that helps to improve efficiency, value, and innovations in the organization. Digital transformations help reduce manual efforts in application testing by providing faster feedback and minimising the time to release the products and services into the market. For instance, according to International Business Machines Corporation, a US-based technology company, in the year 2020, the COVID-19 pandemic will have accelerated digital transformation by 59%. Also, 64% more companies have shifted to cloud-based activities, and 60% of executives expect to employ AI-based customer engagement tools to achieve their goals. Therefore, an increase in the adoption of digital transformations in businesses is driving the application testing services market growth. Major players in the application testing services market are Accenture, Capgemini, Cognizant, DXC Technology Company, International Business Machines Corporation, Infosys Limited, Qualitest, Software Quality Systems S.A., Tata Consultancy Services, Wipro Limited, Deloitte Touche Tohmatsu Limited, Tech Mahindra, Amazon Web Services Inc., Cigniti Technologies Limited, and Xoriant Corporation. Strategic partnerships are a key trend gaining popularity in the application testing services market. Many companies operating in the application testing services market are undergoing partnerships to strengthen their position in the market. For instance, in February 2020, Applause, a US-based testing and digital quality company, partnered with Infosys Limited, an India-based information technology company. This partnership aims to launch digital testing services for clients and provide broader end-to-end digital experience testing services to clients. The partnership combines Applause's white-glove crowd testing approach with Infosys' behind-the-firewall validation to achieve real outcomes for clients in three emphasis areas: improving customer intimacy, accelerating development, and providing high-quality digital experiences. Furthermore, in May 2022, BT Group plc, a UK-based telecommunications company, partnered with MTN Group Limited, a South African-based telecommunications company. The partnership would provide managed connectivity, cloud security, and voice services to MTN Business clients, which is a significant new overseas endeavour for BT. Despite being marketed as an MTN corporate initiative, it appears the South African division is in charge. In October 2021, Qualitest, a UK-based provider of overall software testing solutions, acquired Telexiom GmbH for a deal amount of USD 41.73 billion. The deal is expected to expand Qualitest's capabilities in digital engineering and cyber security and broaden Qualitest's geographic reach into the DACH market. Telexiom GmbH is a Germany-based company that provides managed software testing services. Asia-Pacific was the largest region in the application testing services market in 2022. North America was the second-largest region of the application testing services market. The regions covered in the application testing services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the application testing services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The application testing services market includes revenues earned by entities through localization testing, mobile application testing, and crowdsourced testing that are used to provide end-to-end application testing services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organisations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the chain or as part of other products. The application testing services market research report is one of a series of new reports from The Business Research Company that provides application testing services market statistics, including application testing services industry global market size, regional shares, competitors with an application testing services market share, detailed application testing services market segments, market trends and opportunities, and any further data you may need to thrive in the application testing services industry. This application testing services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

A software product is a software system that is eligible for being delivered to its customer with documentation that explains how to install and use the system. The main types of software products are operating systems and productivity software publishing, database, storage and backup software publishing, business analytics and enterprise software, video game software, and design, editing & rendering software. Business analytics and enterprise software tools are types of application software that retrieve data from one or more business systems and combine it in a repository, such as a data warehouse, to be reviewed and analyzed. Enterprise software is computer software used to satisfy the needs of an organization rather than individual users. The software products have applications in large enterprises and small and medium enterprises. The various end-user industries are BFSI, media and entertainment, IT and telecommunications, energy and utilities, government and public sector, retail and consumer goods, manufacturing and others. The global software products market is segmented - 1) By Type: Operating Systems & Productivity Software Publishing, Database, Storage & Backup Software Publishing, Business Analytics & Enterprise Software, Video Game Software, Design, Editing & 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 Covered: Operating Systems, Productivity Software Publishing, Database Software, Middleware Software, Storage And Backup Software, ERP Software, BI Software, CRM Software, SCM Software, Other Software, Browser Games, PC Games, Smart Phone/Tablet Games, Console Games, Engineering Design Software, Animation And VFX Design Software, Image/Video Editing And Graphic Design Software The global software products market size grew from $1333.48 billion in 2022 to $1500.2 billion in 2023 at a compound annual growth rate (CAGR) of 12.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The software products market is expected to grow to $2357.31 billion in 2027 at a CAGR of 12.0%. IoT technology adoption by manufacturing and transportation services companies is expected to drive the software products market in the forecast period. IoT is a network of physical objects such as devices, vehicles, buildings and other items which are embedded with electronics, software, sensors and network connectivity enable these objects to collect and exchange data. For instance, Microsoft and Rolls-Royce have announced a partnership centering on future Rolls-Royce intelligent engines, which will integrate Microsoft Suite into its service solutions to expand its digital capabilities. According to International Data Corporation (IDC), global spending on IoT was around $1.4 trillion in 2021; this includes hardware, software and services for IoT technologies. Thus, IoT technology adoption is expected to expand the demand for software products market. Asia-Pacific was the largest region in the software products market in 2022. North America was the second largest region of the software products market. The regions covered in the software products market analysis are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The software products market is expected to be limited due to high competition in terms of pricing, product portfolio and other factors from market competitors and new entrants in the market during the forecast period. Existing players in the market are offering a wider range of products at competitive process to increase their customer base and boost revenues. A large number of start-up companies are also developing innovative products. As most of these start-ups are funded by venture capital companies, they have sufficient capital for the research and development of new software products. Furthermore, the increase in competitors in the market is likely to result in price-wars. This would affect the sales of companies, resulting in lower revenues and profit margins. These price-wars further affect the funding available for research and development projects, this limits the launch of new products, thereby having a negative impact on the market growth. Top software vendors such as Oracle and SAP have been attempting to penetrate the middle market, to expand their client base, and increase overall revenues. These companies have begun offering scaled-down, pre-configured versions of their applications. They are pursuing new distribution channels to sell and distribute their software products and are also acquiring mid-market software companies to increase their market shares and revenues. For example, SAP acquired Business One software to penetrate the middle market. Major companies in the software products market include Microsoft, Oracle Corp, Google, salesforce.com, Tencent Holdings Co Ltd., International Business Machines Corporation, Adobe Systems Incorporated, Nintendo Co Ltd., Fiserv, Inc. and Sony Corp. The countries covered in the software products market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela and Vietnam. The software products market includes revenues earned by entities by developing and distributing software products for commercial and personal use. Software products are usually sold in the form of licenses to use the software for a specified period or permanently. The license generally entitles the buyer to receive updates of the programs. Companies in this industry create and distribute computer software by designing software, providing documentation, assisting in installation and providing support services to software purchasers. Some businesses design, develop and publish; others only publish. The market value does not include revenues generated from Software as a Service (SaaS). Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The software products market research report is one of a series of new reports from The Business Research Company that provides software products market statistics, including software products industry global market size, regional shares, competitors with a software products market share, detailed software products market segments, market trends and opportunities, and any further data you may need to thrive in the software products industry. This software products market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Business analytics (BA) is a set of technologies, skills, and practices used to examine an organization's data and performance to better understand and make data-driven decisions in the future using statistical analyses. Enterprise software is a computer application that assists large companies with many needs such as data analysis, sales and marketing management, customer service and many more. These tools are designed to serve many users with high scalability and integration. The main types of business analytics & enterprise software are ERP software, BI software, CRM software, SCM software and other software. ERP software is a software that is used by organizations to manage and plan daily activities of a business such as finance, manufacturing, supply chain, human resources and others. They are deployed using models such as on-demand/cloud model and on-premise model and are used in IT and telecommunications, BFSI, manufacturing, retail, healthcare, education, media and other end use industries. The global business analytics and enterprise software market is segmented - 1) By Type: ERP Software, BI Software, CRM Software, SCM Software, Other Software 2) By End-User Industry: IT and Telecommunications, BFSI, Manufacturing, Retail, Healthcare, Education, Media, Other End-User Industries 3) By Deployment Model: On-Demand/Cloud, On-Premise The global business analytics & enterprise software market size grew from $423.18 billion in 2022 to $486.54 billion in 2023 at a compound annual growth rate (CAGR) of 15.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The business analytics & enterprise software market is expected to grow to $837.88 billion in 2027 at a CAGR of 14.6%. Mobility is an integrated component of digital solutions and is transforming businesses on a global scale driving demand for IT services. It is an essential feature for customer experience management and for enhancing interaction amongst strategic partners and suppliers. It also provides greater access to information and services which can be integrated to execute critical business operations. The development and implementation of mobile applications requires IT services. For example, Tieto's competitive asset in mobility and Tieto's enterprise mobility solution framework offers customized solutions to companies operating in healthcare, logistics, telecommunications, energy and manufacturing verticals. Major companies in the business analytics & enterprise software market include Oracle Corp, salesforce.com, Microsoft, Fiserv, Inc., Nippon Telegraph And Telephone Corp, NTT Data, International Business Machines Corporation, Workday, Inc., Leidos (US) and Atos SE. The outbreak of COVID-19 disease (COVID-19) has acted as a significant restraint on the business analytics & enterprise software market in 2020 as supply chains were disrupted due to trade restrictions and employees working for these establishments faced difficulties related to infrastructure and communication owing to lockdowns imposed by governments globally, forcing them to work from home. COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People's Republic of China and spread globally including Western Europe, North America and Asia. Steps by national governments to contain the transmission have resulted in a decline in economic activity with countries entering a state of 'lock down' and the outbreak had a negative impact on businesses throughout 2020 and into 2021. However, it is expected that the business analytics & enterprise software market will recover from the shock across the forecast period as it is a 'black swan' event and not related to ongoing or fundamental weaknesses in the market or the global economy. Over the past five years there has been an increasing prevalence of low cost open source alternatives. Open source has become a preferred platform for developing new technology. In the past, software product companies would open source software that was not making money, but now companies are open sourcing software to increase its presence and share in the market. According to Allison Randal, President, Open Source Initiative, 78% of companies use open source solutions and 64% participate in open source projects indicating an increase in open source software platforms to build applications. In April 2021, International Business Machines Corporation (IBM), a US-based technology company announced the acquisition of Turbonomic, for $2 billion. This deal will help IBM to provide companies with solutions to overcome the high costs associated with managing performance and availability for multiple applications sharing an increasingly complex hybrid cloud environment. Turbonomic is a US-based enterprise software company. Asia-Pacific was the largest region in business analytics & enterprise software market in 2022. North America was the second largest region in business analytics & enterprise software industry. The regions covered in the business analytics & enterprise software market analysis are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the business analytics & enterprise software market report are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela and Vietnam. The business analytics & enterprise software market includes revenues earned by entities by developing and distributing software that are used to analyze business data to better understand an organization's strengths and weaknesses. Enterprise software is a software used to satisfy the needs of an organization rather than individual users. Such organizations include businesses, schools, interest-based user groups, clubs, charities, and governments. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The business analytics & enterprise software market research report is one of a series of new reports from The Business Research Company that provides business analytics & enterprise software market statistics, including business analytics & enterprise software market size, regional shares, competitors with a business analytics & enterprise software market share, detailed business analytics & enterprise software market segments, business analytics and enterprise software market trends and opportunities, business analytics and enterprise software market growth and any further data you may need to thrive in the business analytics & enterprise software industry. This business analytics & enterprise software market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

A voice assistant is a device or an application that uses speech recognition, natural language processing, and AI technology to respond to humans. The main components of the voice assistant application are solutions and services. Incorporating voice assistants such as Alexa, Google Assistant, and Siri into digital solutions or goods is referred to as service, and it gives customers another way to communicate with the team. The different deployment modes include on-premises, and cloud and are used in web applications, and mobile applications. It is implemented in various sectors such as banking, financial services, and insurance (BFSI), healthcare, retail, and e-commerce, media and entertainment, telecom and IT, manufacturing and automotive, education, travel and hospitality, and others. The global voice assistant application market is segmented - 1) By Component: Solutions, Services 2) By Deployment mode: On-Premises, Cloud 3) By Applications: Web Applications, Mobile Applications 4) By End-use: Banking, Financial Services, And Insurance, Healthcare, Retail And E-Commerce, Media And Entertainment, Telecom And IT, Manufacturing And Automotive, Education, Travel And Hospitality, Other End Users The global voice assistant application market size will grow from $3.43 billion in 2022 to $4.52 billion in 2023 at a compound annual growth rate (CAGR) of 32.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the voice assistant application is expected to grow to $13.66 billion in 2027 at a CAGR of 31.8%. The growing voice-enabled devices are contributing to the growth of the voice assistant application market. The voice-activated device recognizes spoken instructions and inquiries, and commonly employs text-to-speech to play a response. Over time, voice activation technology has aided in the provision of assistance, the management of customer experience, and increase productivity. Another layer of increased customer assistance and interactions has been added due to an app that includes Alexa, Siri, Google Assistant, and Cortana. For instance, according to Oberlo, a drop shipping app, in 2020, 111.8 million people in the USA using voice search features, up 9.5% from the previous year. By 2021, it is predicted to have grown by 9.7% to 122.7 million users. Major players in the voice assistant application market are Amazon Web Services, Apple, Baidu Inc., Google LLC, IBM Corporation, Microsoft Corporation, Oracle Corporation, Samsung, Verbio, Orange S.A, Orbita, Avaamo Inc., Avaya, Inbenta, and Slang Labs. The AI-based voice assistant is a key trend gaining popularity in the voice assistant application market. Major companies operating in the voice assistant application sector are focused on developing AI-based voice assistants to offer users an alternative way to interact with their various business apps. For instance, in June 2022, Athenahealth, a US-based healthcare company that provides network-enabled services and mobile apps, introduced athenaOne, an AI-based voice assistant technology. AthenaOne is a completely integrated, mobile-integrated, voice-guided digital companion that speeds up information retrieval and enables healthcare workers to carry out clinical duties without using their hands. The new iOS-based mobile gadget enables doctors to naturally and reliably dictate medical paperwork while spending more time talking with patients. In April 2021, Microsoft Corporation, a US-based technology company acquired Nuance Communications for $19.7 billion. The acquisition elevates Microsoft as a prominent participant in healthcare technology by reducing the distance between clinicians and Microsoft Cloud for Healthcare. Nuance Communications is a US-based company that provides AI-based voice assistants. North America was the largest region in the voice assistant application market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the voice assistant application report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the voice assistant application market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The voice assistant application market includes revenues earned by entities by providing application solutions that use voice recognition, speech synthesis, and natural language processing to provide a service through a specific application. A Voice assistant, also called an intelligent personal assistant or connected speaker, can conduct tasks or provide services for a person based on instructions or questions. It is a new type of product marketed by Apple, Amazon, and Google and is based on natural language speech recognition. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The voice assistant application market research report is one of a series of new reports from The Business Research Company that provides voice assistant application market statistics, including voice assistant application industry global market size, regional shares, competitors with a voice assistant application market share, detailed voice assistant application market segments, market trends and opportunities, and any further data you may need to thrive in the voice assistant application industry. This voice assistant application market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.