PUBLISHER: MarketLine | PRODUCT CODE: 1901446
PUBLISHER: MarketLine | PRODUCT CODE: 1901446
Global Software industry profile provides top-line qualitative and quantitative summary information including: market size (value , and forecast to 2029). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.
The software market encompasses applications used for business operations (e.g., ERP, CRM, etc.), as well as infrastructure software that manages IT systems and operations. The market value represents the revenue generated from sales and subscriptions of various software packages and offerings. It includes both signed deals that remain under contract and the annual revenues associated with new contracts signed within a specific calendar year. This excludes sales opportunities for third-party service providers.
The software market is segmented into business process applications, data and analytics, IT management, security, and others.
Business process applications are the applications used by enterprises for business operations that are either installed on-premises or delivered via the web. It covers commerce applications, customer relationship management applications, enterprise resource planning applications, financial applications, human resource and payroll applications, office productivity applications, product lifecycle management applications, supply chain management applications, and vertical-specific and packaged applications.
Data and analytics include software/applications to analyze and act on data captured by the enterprise. It includes big data platforms, business intelligence and data discovery tools, and data and content management.
IT management covers all middleware software that facilitates enterprises to perform basic tasks related to the development and management of internal services and processes. It includes application lifecycle management, application platforms and containers, integration software, operating systems, virtualization, business process management, IT service management tools, database management, system and network management platforms, storage management, and virtualization.
The security segment covers endpoint security software, endpoint threat detection and response software, IoT, and SCADA endpoint and data security. It also covers application security, fraud prevention and transactional security, identity & access management, messaging security, data protection, security intelligence and management, and server security.
The scope of others includes software related to artificial intelligence, communications and collaboration, edge computing, the Internet of Things, mobility, networking, storage, etc.
All market data and forecasts are based on nominal prices, and all currency conversions used in the creation of this report have been calculated using yearly average exchange rates. The USD values may show a declining trend for a few countries, such as Argentina, Turkey, Nigeria, Egypt, and Russia. This is primarily because of the impact of exchange rates considered.
The global software market recorded revenues of $1,071.3 billion in 2024, representing a compound annual growth rate (CAGR) of 9.5% between 2019 and 2024.
The business process applications segment accounted for the market's largest proportion in 2024, with total revenues of $267.2 billion, equivalent to 24.9% of the market's overall value.
The expansion of the global software market is driven by robust government initiatives and rapid digitalization across sectors. Initiatives such as the European Union's Digital Europe Programme, US Federal Cloud Computing Strategy (Cloud Smart), and China's Digital Economy Development Plan are encouraging enterprises to modernize operations through advanced ERP, CRM, and business process applications.