Independent Software Vendors (ISVs) Market – Insights on Challenges & Opportunities by 2032

Independent Software Vendors Market Overview:

The market size for independent software vendors (ISVs) was estimated at USD 265.6 billion in 2022. During the projection period (2023 - 2032), the Independent Software Vendors market industry is anticipated to increase from USD 289.8 billion in 2023 to USD 910.7 billion. This represents a 13.6% CAGR. A company or individual that creates, develops, and sells enterprise or consumer software to its end users is known as an independent software vendor (ISV). These software programmes are compatible with many computer hardware platforms and operating systems (OS). Even when end users use ISV-provided software, it is still regarded as the vendors' property.

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Key Players:

Key Companies in the Independent Software Vendors market include

• Hewlett Packard Enterprise Development LP
• IBM Corporation
• Oracle Corporation
• Cisco Systems, Inc.
• Com, Inc.
• Apple Inc
• SAP SE
• Carbonite, Inc
• Micro Focus
• Servicenow
• Mocana
• Google LLC
• Microsoft Corporation
• Compuware
• Symantec Corporation
• Dell Inc.

Businesses are likely to concentrate on a number of areas to improve the customer experience, including improvements in digital infrastructure and fast changing consumer behaviour. Web applications must be actively accessible to users in order for the government and business sectors, including retail, banking, financial services, and insurance (BFSI), IT and telecom, healthcare, and automotive, to function. As a result, independent software suppliers are essential to providing higher quality of services (QoS) to end users because doing so enables them to keep their current clientele, grow their clientele, and enhance their clients' overall experience. Below is a discussion of some of the key themes that enable ISVs to survive in a cutthroat market.

One of the widely used components for businesses to run their operations is cloud computing. The cloud computing market, according to MRFR analysis, was estimated to be worth USD 121.4 billion in 2018 and is projected to grow to USD 340.5 billion by 2024, showing a CAGR of 19.4% over the forecast period (2014–2026). Experts in the field predict that by 2020, 83% of enterprise workloads will have moved to the cloud. This enables businesses to handle various workloads and create mobile and website applications that perform well. Additionally, cloud-based workloads are being rapidly offered by suppliers like SAP SE and Microsoft Corporation. The widespread use of multi-cloud environments has made it possible for businesses to create a variety of mobile applications, including Uber, Swiggy, and Amazon.

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Due to the enhanced Internet accessibility, increased frequency bandwidth, and increased demand for QoS, these cloud-based apps are gradually recording considerable momentum across the verticals. However, businesses across all industries confront difficulties, including worries about cloud security and privacy.

Market Segmentation:

The market has been divided into cloud-based and on-premises segments based on type. Businesses are likely to concentrate on improving customer experience in response to changes in consumer behaviour and advances in digital infrastructure.

The market has been divided into E-Commerce, Logistics, Retail, Healthcare, Financial, Educational, and Other sectors based on industry. The e-commerce market is anticipated to expand quickly during the projection period.

Geographically, North America is anticipated to hold a sizable portion of the world market for independent software vendors throughout the anticipated period. Multiple small- and mid-sized technology/solution distributors make up the extremely fragmented worldwide ISV market. These ISVs provide industry- and application-specific software solutions, and they design and update each one in accordance with the requirements of their clients and end users. One of the major drivers of the expansion of the worldwide ISV market is the development of quicker and more affordable cloud technology.

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Additionally, many of these ISVs employ 10 or fewer people, demonstrating the global success of small-sized ISV businesses. ISVs' main areas of interest are, but are not limited to: automatic data acquisition.

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