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Global Software Market Size, Share, Analysis, Forecast: By Type: Application Software, System Infrastructure Software, Development and Deployment Software, Productivity Software; By Deployment: On-Premises, Cloud; By Organisation Size; By Industry Vertical; Regional Analysis; Market Dynamics: SWOT Analysis; Competitive Landscape; 2024-2032
Global Software Market Outlook
The global software market size was approximately USD 656.10 billion in 2023. The market is assessed to grow at a CAGR of 9.6% between 2024 and 2032, reaching a value of USD 1497.10 billion by 2032.
Key Trends in the Market
A software is a set of programmes that fulfils the command of its users by carrying out specific operations and tasks. It simplifies complex parts of big projects and helps businesses increase their profitability by lowering their time and costs of operations. Enterprise software solutions are becoming increasingly popular because of their flexibility, functionality, and user-friendly interface that facilitates smooth communication across different workplace channels. They also facilitate reliable customer support services.
- Several companies are restructuring their internal workflow operations due to rapid economic changes and growing digitalisation, which is contributing to the software market demand. Advanced software solutions enable businesses to streamline their operations and enhance accuracy and transparency in work, thereby improving business productivity.
- The acceptance of real time applications in critical industries like healthcare, oil and gas, and public safety is boosting the popularity of digital solutions, which is contributing to the software market expansion. These software, when integrated with other systems, can help perform several tasks efficiently, like assisting healthcare staff in maintaining patient records or enabling safety personnel to identify gas leaks at installation rigs, preventing the occurrence of major accidents.
- Advancements in artificial intelligence and machine learning technologies are expected to fuel the global software market growth. This is because businesses are expected to use AutoML to simplify complex data sets and generate new ideas by relying on generative AI applications. Their use is also expected to grow for implementing improved cybersecurity measures.
Market Segmentation
Based on type, the market is segmented into application software, system infrastructure software, development and deployment software, and productivity software. On the basis of deployment, the market can be divided into on-premises and cloud. The software market segmentation, based on organisation size, includes small and medium enterprises, and large enterprises.
By industry vertical, the market is categorised into BFSI, retail, healthcare, government, and IT and telecom, among others. The major regional markets for software include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global software market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.
- Microsoft Corp.
- Alphabet Inc. (Google LLC)
- IBM Corp.
- Oracle Corp.
- SAP SE
- Cisco Systems, Inc.
- Adobe Inc.
- Broadcom Inc.
- McAfee Corp.
- Cloud Software Group, Inc.
- Salesforce, Inc.
- NortonLifeLock Inc.
- VMware, Inc.
- Others
Market Share by Industry Vertical
As per the global software market analysis, the BFSI sector is expected to witness a significant growth in demand for software. This is because of stringent risk management guidelines outlined by central banks for protection against economic losses. The rise of new trends, including cryptocurrencies and cashless transactions, is boosting the demand for safe and secure applications that can track investments and transfers in real time. Besides, the use of analytical tools and mathematical models to predict future financial conditions and revenue is also expected to increase.
Meanwhile, the reliance of the healthcare sector on software for tasks like handling patient traffic, maintaining patient records and medical history, monitoring critical patients in real time, and inventory management, is also expected to undergo a significant transformation, with a renewed focus on improving patient care and health outcomes.
Market Share by Region
North America is expected to account for a significant software market share over the forecast period. This is because of increasing competition to create unique products that cater to the specific requirements of different customers and individuals. Integration of new core functions, high level visualisations, and improved accessibility is expected to boost the market demand for software. Besides, technological breakthroughs in quantum computing are also expected to add to the existing set of large datasets, which is anticipated to boost the demand for software for analytical and insightful research. Other regions, namely Europe and the Asia Pacific, are also expected to witness a considerable growth in demand in the coming years.
Competitive Landscape
Adobe Inc. was founded in December 1982 and is headquartered in San Jose, California. It makes a wide range of software applications and products that enhance document productivity, drive digital businesses, and tap the creative potential of individuals. This includes Adobe Experience Cloud, Adobe Document Cloud, Adobe Creative Cloud, and Adobe Express, among others.
McAfee Corp. provides threat protection software applications including antiviruses that guard people’s online identities, their locations, and allows for safe browsing. It minimises the risk of data breaches and can be availed at any retail store or from internet service provider, or purchased through any McAfee partner. It has won the PC Mag Editor’s Choice Award 33 times and is headquartered in San Jose, California.
Broadcom Inc. was founded in 1960s and is headquartered in Palo Alto, California. It is one of the world’s leading companies providing semiconductor and infrastructure software solutions. It combines its total production capacity, engineering expertise, diverse product portfolio, and sharp operational focus to deliver desired outcomes to its customers.
Other global software market players include Microsoft Corp., Alphabet Inc. (Google LLC), IBM Corp., Oracle Corp., SAP SE, Cisco Systems, Inc., Cloud Software Group, Inc., Salesforce, Inc., NortonLifeLock Inc., and VMware, Inc., among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by Deployment |
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| Breakup by Organisation Size |
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| Breakup by Industry Vertical |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Software Market Analysis
8.1 Key Industry Highlights
8.2 Global Software Historical Market (2018-2023)
8.3 Global Software Market Forecast (2024-2032)
8.4 Global Software Market by Type
8.4.1 Application Software
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.1.3 Breakup by Type
8.4.1.3.1 Enterprise Resource Planning (ERP)
8.4.1.3.2 Customer Relationship Management (CRM)
8.4.1.3.3 Enterprise Content Management (ECM) Software
8.4.1.3.4 Supply Chain Management (SCM)
8.4.1.3.5 Enterprise Collaboration Software
8.4.1.3.6 Education Software
8.4.1.3.7 Others
8.4.2 System Infrastructure Software
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.2.3 Breakup by Type
8.4.2.3.1 Network Management Systems (NMS)
8.4.2.3.2 Storage Software
8.4.2.3.3 Security Software
8.4.3 Development and Deployment Software
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.4.3.3 Breakup by Type
8.4.3.3.1 Enterprise Data Management (EDM)
8.4.3.3.2 Business Analytics and Reporting Tools
8.4.3.3.3 Application Servers
8.4.3.3.4 Integration and Orchestration Middleware
8.4.3.3.5 Data Quality Tools
8.4.4 Productivity Software
8.4.4.1 Historical Trend (2018-2023)
8.4.4.2 Forecast Trend (2024-2032)
8.4.4.3 Breakup by Type
8.4.4.3.1 Office Software
8.4.4.3.2 Creative Software
8.4.4.3.3 Others
8.5 Global Software Market by Deployment
8.5.1 On-Premises
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Cloud
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.6 Global Software Market by Organisation Size
8.6.1 Small and Medium Enterprises
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Large Enterprises
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.7 Global Software Market by Industry Vertical
8.7.1 BFSI
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Retail
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Healthcare
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 Government
8.7.4.1 Historical Trend (2018-2023)
8.7.4.2 Forecast Trend (2024-2032)
8.7.5 IT and Telecom
8.7.5.1 Historical Trend (2018-2023)
8.7.5.2 Forecast Trend (2024-2032)
8.7.6 Others
8.8 Global Software Market by Region
8.8.1 North America
8.8.1.1 Historical Trend (2018-2023)
8.8.1.2 Forecast Trend (2024-2032)
8.8.2 Europe
8.8.2.1 Historical Trend (2018-2023)
8.8.2.2 Forecast Trend (2024-2032)
8.8.3 Asia Pacific
8.8.3.1 Historical Trend (2018-2023)
8.8.3.2 Forecast Trend (2024-2032)
8.8.4 Latin America
8.8.4.1 Historical Trend (2018-2023)
8.8.4.2 Forecast Trend (2024-2032)
8.8.5 Middle East and Africa
8.8.5.1 Historical Trend (2018-2023)
8.8.5.2 Forecast Trend (2024-2032)
9 North America Software Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Software Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Software Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Software Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Software Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Microsoft Corp.
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Alphabet Inc. (Google LLC)
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 IBM Corp.
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Oracle Corp.
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 SAP SE
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Cisco Systems, Inc.
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Adobe Inc.
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Broadcom Inc.
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 McAfee Corp.
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 Cloud Software Group, Inc.
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Salesforce, Inc.
15.2.11.1 Company Overview
15.2.11.2 Product Portfolio
15.2.11.3 Demographic Reach and Achievements
15.2.11.4 Certifications
15.2.12 NortonLifeLock Inc.
15.2.12.1 Company Overview
15.2.12.2 Product Portfolio
15.2.12.3 Demographic Reach and Achievements
15.2.12.4 Certifications
15.2.13 VMware, Inc.
15.2.13.1 Company Overview
15.2.13.2 Product Portfolio
15.2.13.3 Demographic Reach and Achievements
15.2.13.4 Certifications
15.2.14 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Software Market: Key Industry Highlights, 2018 and 2032
2. Global Software Historical Market: Breakup by Type (USD Billion), 2018-2023
3. Global Software Market Forecast: Breakup by Type (USD Billion), 2024-2032
4. Global Software Historical Market: Breakup by Deployment (USD Billion), 2018-2023
5. Global Software Market Forecast: Breakup by Deployment (USD Billion), 2024-2032
6. Global Software Historical Market: Breakup by Organisation Size (USD Billion), 2018-2023
7. Global Software Market Forecast: Breakup by Organisation Size (USD Billion), 2024-2032
8. Global Software Historical Market: Breakup by Industry Vertical (USD Billion), 2018-2023
9. Global Software Market Forecast: Breakup by Industry Vertical (USD Billion), 2024-2032
10. Global Software Historical Market: Breakup by Region (USD Billion), 2018-2023
11. Global Software Market Forecast: Breakup by Region (USD Billion), 2024-2032
12. North America Software Historical Market: Breakup by Country (USD Billion), 2018-2023
13. North America Software Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Europe Software Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Europe Software Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Asia Pacific Software Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Asia Pacific Software Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Latin America Software Historical Market: Breakup by Country (USD Billion), 2018-2023
19. Latin America Software Market Forecast: Breakup by Country (USD Billion), 2024-2032
20. Middle East and Africa Software Historical Market: Breakup by Country (USD Billion), 2018-2023
21. Middle East and Africa Software Market Forecast: Breakup by Country (USD Billion), 2024-2032
22. Global Software Market Structure
Key Questions Answered in the Report
In 2023, the market reached an approximate value of USD 656.10 billion.
The market is estimated to grow at a CAGR of 9.6% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach a value of around USD 1497.10 billion by 2032.
The market is being driven by the growing need for streamlining business operations for boosting profitability and the rise in the volume and value of data.
The key trends aiding the market expansion include technological advancements, internal restructuring of companies, and rise in the number of real time applications.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The major classifications include application software, system infrastructure software, development and deployment software, and productivity software.
The major players in the market are Microsoft Corp., Alphabet Inc. (Google LLC), IBM Corp., Oracle Corp., SAP SE, Cisco Systems, Inc., Adobe Inc., Broadcom Inc., McAfee Corp., Cloud Software Group, Inc., Salesforce, Inc., NortonLifeLock Inc., and VMware, Inc., among others.
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