Software - Worldwide | Statista Market Forecast (2024)

• The Software market is expected to witness a remarkable growth trajectory worldwide.
• It is projected that by the year 2024, the revenue in this market segment will reach an impressive figure of US$702.00bn.
• Within this market, Enterprise Software is anticipated to dominate with a projected market volume of US$294.30bn by 2024.
• Furthermore, the revenue in the Software market is projected to exhibit a steady annual growth rate of 5.01% from 2024 to 2029.
• This growth is anticipated to result in a substantial increase in the market volume, reaching US$896.20bn by the year 2029.
• In global comparison, it is noteworthy that United States is expected to generate the highest revenue in the Software market.
• The projected revenue for the United States alone in 2024 is estimated to be US$363.40bn.
• This highlights the significant market presence and potential of the United States in the Software market industry on a global scale.
• In the worldwide software market, the United States leads the way with its innovative tech startups and dominance in cloud computing services.

Key regions: United States, Canada, Germany, China, Japan

Definition:

In general, software is defined as a set of instructions written as programming code to execute specific tasks on a computing device. The Software market covers a wide range of software products and solutions that are publicly sold by various companies. Most software solutions in this market are designed for professional use, but some can also be suitable for personal use. They can also range from basic productivity tools such as word processors and spreadsheets to complex software solutions such as project management tools, graphic design software, and enterprise resource planning software.

Products in the Software market can be obtained in two ways: as on-premises software that is sold via a transactional license or a subscription and as cloud-based software (software as a service/ SaaS) that is most frequently sold as a subscription.

Structure:

The market contains four markets that are based on the functionality of the software:

• Productivity Software refers to application software that supports activities such as producing documents, spreadsheets, drawings, and presentations. This market includes Administrative Software, Collaboration Software, Office Software, Creative Software, and Construction and Design Software.
• Enterprise Software refers to all software that supports essential large-scale business activities such as enterprise resource management, customer management, and supply chain activities. This market includes Enterprise Resource Planning Software, Customer Relationship Management Software, Business Intelligence Software, Supply Chain Management Software, Content Management Software, and Other Enterprise Software.
• Application Development Software refers to software and tools that help the overall application development process.
• System Infrastructure Software refers to software that provides the base framework for operating and managing organizational processes and services on hardware devices.

Additional Information:

The Software market comprises revenue and revenue change as the key performance indicators. Only revenues that are generated by primary vendors at the manufacturer price level either directly or through distribution channels (excluding value-added tax) are included, and revenues generated by resellers are excluded. Revenues are generated through both online and offline sales channels and include spending by consumers (B2C), enterprises (B2B) as well as governments (B2G). Detailed definitions of each market can be found on the respective page where the market data is displayed.

Key players in this market include Microsoft, Adobe, SAP, Oracle, and Salesforce.

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