How big is the Business Software Market?

The Business Software Market size is expected to reach USD 0.65 trillion in 2024 and grow at a CAGR of 11.23% to reach USD 1.10 trillion by 2029. Read More

What is the current Business Software Market size?

In 2024, the Business Software Market size is expected to reach USD 0.65 trillion. Read More

Who are the key players in Business Software Market?

Microsoft Corporation, International Business Machines Corporation, Oracle Corporation, SAP SE and Cisco Systems Inc. are the major companies operating in the Business Software Market. Read More

Which is the fastest growing region in Business Software Market?

Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Business Software Market?

In 2024, the North America accounts for the largest market share in Business Software Market. Read More

What years does this Business Software Market cover, and what was the market size in 2023?

In 2023, the Business Software Market size was estimated at USD 0.58 trillion. The report covers the Business Software Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Business Software Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

What are the emerging trends in the Business Software Market?

Emerging trends in the Business Software Market are a) Integration of IoT with business software b) Increased use of big data analytics c) Shift towards subscription-based software models Read More

Business Software Market - Growth, Trends, Industry Report & Size

Business Software Market Size - Industry Report on Share, Growth Trends & Forecasts Analysis (2024 - 2029)

The Report Covers Global Business Software and Services Market Analysis and is Segmented by Software Type (ERP Software, CRM Software, BI Software, and Supply Chain Software), Deployment (Cloud and On-Premise), End-User Vertical (BFSI, Healthcare, Public & Institutions, Retail, Transportation, Manufacturing, and Other End-User Verticals (Telecom, Defense, Etc. )), and Geography (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa). The Market Size and Forecast are Provided in Terms of Value (USD) for all the Above Segments.

Business Software Industry Overview

The global business software market is semiconsolidated. The market consists of major players, such as Microsoft Corporation, International Business Machines Corporation, Oracle Corporation, and SAP SE.

In February 2023, Cisco Systems announced new innovations in cloud-managed networking, delivering on its promise to help customers simplify their IT operations. With powerful new cloud management tools for industrial Internet of Things (IoT) applications, simplified dashboards to converge IT and OT operations, and flexible network intelligence to see and secure all industrial assets, Cisco delivers a unified experience that provides true business agility.

In February 2023, Microsoft fused ChatGPT-like technology into its search engine Bing, transforming an Internet service that trails far behind Google into a new way of communicating with artificial intelligence (AI). The revamping of Microsoft's second-place search engine could give the software giant a head start against other tech companies in capitalizing on the worldwide excitement surrounding ChatGPT, a tool that's awakened millions of people to the possibilities of the latest AI technology.