Irving, Texas (PRWEB) January 12, 2013
Over the next five years, Asia Pacific (APAC) and the Rest of the World (ROW) regions are expected to lead the global software industry due to their untapped market, low penetration of software, and large domestic demand. The industry experienced solid growth over the last five years and is expected to continue its growth momentum to reaching approximately $406.6 billion in 2017 with a CAGR of 7.1% from 2012 through 2017.
Lucintel, a leading global management consulting and market research firm, has analyzed the global software industry market and presents its findings in “Global Software Industry 2012–2017: Trend, Profit, and Forecast Analysis.”
The industry’s growth has been largely driven by the robust economic growth in APAC and Latin American during the last five years. Enterprises have invested heavily in software to sustain their business growth and improve productivity. Expansion in the manufacturing, financial services, communication, and government sectors in APAC and ROW region provides a huge potential market for software vendors.
Lucintel’s research indicates that the global economy is expected to stabilize and grow at a constant pace during the forecast period mostly driven by emerging economies such as India, China, and Brazil. New emerging markets and more enterprises are likely to invest in software to build IT infrastructure to help reduce cost and improve business productivity driven by intensifying competition.
As indicated in the study, the software industry is strongly correlated with economic growth. Manufacturing, banking and finance, and public sectors are major consumers of software. The impacts of financial crises are high in these sectors and are major industry challenges. Growing demand for business solutions has driven software vendors to spend heavily in research and development for product innovation and upgrades. This trend has led the industry to new product launches and development of technologies, which has driven the industry.
This industry research report study provides an overview of the global software industry. The report tracks two segments for four geographic regions of this industry; thus, it tracks eight segments of the global software industry.
For a detailed table of contents and pricing information on this timely, insightful report, contact Lucintel at +1-972-636-5056 or via email at helpdesk(at)lucintel(dot)com. Lucintel provides cutting-edge decision support services that facilitate critical decisions with greater speed, growth consulting, and cost efficiency. To learn more, visit http://www.lucintel.com
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