The global application software market reached to USD10.8 billion
in 2017 of which Western Europe was the largest geographic region accounted for
USD3.9 billion or 35.9% of the global market. However US stood as the largest
country accounting for USD2.3 billion or 21.4% of the global application
software market. The report titled “Application
Software Global Market Report 2018”, provides a comprehensive
analysis of global application software market, new products
and business models, leading consumer of application software, SaaS and cloud
services, and future of application software market.
Industry
Overview: Global application software market
refers to information technology offerings that help an organisation to detect,
analyse, resolve, and report performance issues of the applications used which
include word processors, database programs, spread sheets and web browsers. The
application software ensures that all the applications perform and behave as
expected. Generally, application Software is a part of the systems management
of any organization used to monitor and manage the performance and availability
of software applications. It also provides seamless access to enterprise
applications, helps in giving valued performance of business services and web
transactions to the customers. This trend also enhances revenue and improves
brand value and overall customer loyalty.
New products in the emerging markets and business models such as cloud
computing and Software-as-a-Service (SaaS) are stimulating the global market
growth. Both large and small organisations are
adopting these products as they provide rapid time to market, cost effective
and low maintenance options. The manufacturing, banking
and finance sectors are the major drivers for the application software industry.
The largest consumer of application software is North America and represents
almost half of the global market share. It was observed that the application
software industry has faced challenges such as economic crisis, currency
fluctuations, and software piracy in the past years.
SaaS in Global
Application Software Market: The year 2017 has
ruled out that if there was no SaaS in application software market then there was
no revenue. It was also observed that the complex data machines shift smoothly towards online operations. All
the cloud workflows were delivered as software-as-a-service (SaaS) and it was predicted
that the Infrastructure-as-a-service (IaaS) will drop down compare to the
recent years. SaaS is an exclusive
powerful corporation with more than 80%
of their performance applications being hosted and operated in cloud. Majority
of the companies confidently claim that their operations no longer depend on
legacy systems but on SaaS. SaaS is available at an affordable price and the technology
helps to expand the corporate ecosystem with various new apps, and involves
everyone on how apps are managed and operated. SaaS application is easy to use,
no expensive training required, and no special devices required as data resides
entirely online.
Cloud and SaaS in
Application Software Market: Many of the businesses in the developing countries are shifting their operations to
cloud due to low operational costs, maintains a consistent working process, enables
collaboration in large and decentralized teams, saves time, facilitates access
to data, mobile-optimized, easier to connect applications, reduces burden of
upgrading, easy maintenance, safeguarding data and in line with market trends. The delivering functionality in cloud boosted customer
satisfaction in the past years with a positive navigation experience. SaaS reduced
the burden of installing and adjusting systems until they blend within a software
landscape, and usually require minimal to no maintenance at all. Sometimes system
updates are automated due to a single-click approval and also puts a user in
control without undergo complex verification processes. Many organizations are
interested in SaaS because it uses a remote, large, or decentralized team to
run and a shaky reputation to maintain. The growing demand for SaaS will
motivate powerful investors to fund important technological innovations.
Future of Global Application
Software Market: The global
application software industry is actually a consolidated industry consisting of
ERP, CRM, SCM, business intelligence and analytics. The factors such as IT
spending, technological innovations, and economic growth impacts the application
software industry dynamics significantly. India, China, and Latin America
contributed immensely in the application software industry growth and is driven
by a relatively low penetration of software, local potential. The revenue of
the application software market is growing continuously along with the economic
growth in developing countries and will continue in the next few years.
Key Topics Covered in the Report:
Global Application
Software Market Growth
Global Application
Software Market Forecast
Global Application
Software Market Analysis
Global Application
Software Market trends
Global Application
Software Market Revenue
Software Services
Market Growth
SaaS Market
Analysis,SaaS Market Forecast
Global Cloud Market
Growth
Global Cloud Market
Future Outlook
enterprise resource
planning Software market Value
Supply Chain
Management Software Market Value
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Ankur Gupta,
Head Marketing & Communications
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