Global Business Software Market to Reach US$384.8 Billion by 2015, According to New Report by Global Industry Analysts, Inc.

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GIA announces the release of a comprehensive global outlook on the Software (IT) Industry. The advent of the digital age has made software a ubiquitous necessity and demand for the same will continue to grow steadily into the future. Driving forces in the market remains the rapid expansion of Internet, Intranet and Virtual Private Networks (VPNs), and proliferation of Internet connected devices such as PCs, laptops, palmtops, smartphones, and tablets.

Software (IT): A Global Outlook

Follow us on LinkedIn – An indispensable technology area in the digital age, software is now essential to routine functioning of modern companies. While computer/systems software remains indispensable to computer hardware and for managing computer resources, applications software has become critical for companies to remain connected with their external world. A vital cog in the IT wheel, software industry has evolved over the years to now become a key infrastructure component for governments and organizations across the globe. The software industry encompasses a variety of products and services that find application in numerous end-use market segments, ranging from home computing to specialized commercial areas such as banking, retail, and service functions. Manufacturing, finance, and service sectors lead the global market for software in terms of annual spending on software products and services.

A perpetual quest for expanding global presence and enhancing brand awareness has led business organizations turn to Internet and mobile devices for communication. The emergence of cloud computing is now driving opportunities for the software industry. Cloud technology is an emerging paradigm computing concept that enables both information technology infrastructure and software to be delivered directly over the Internet as a service. Epitomizing “frictionless” self-service transactions, the cloud delivery models have irreversibly changed how software is developed, distributed and consumed. This type of an arrangement whereby companies can expand network capacity, and run applications directly on a vendor’s network, offers a host of advantages with the most primary being radically lower IT costs. The lower budgetary requirements and commitments allow even smaller companies to piece together an IT project at minimum cost.

Cloud computing is expected to continue to reshape the IT marketplace, creating new opportunities for suppliers, and catalyzing vital changes in conventional IT offerings. The market is set to expand in the upcoming years, as small and medium sized business networks as well datacenter managers, step up their efforts to build a cloud infrastructure. In an era where companies are Internet inspired, the rise of the cloud is no ordinary phenomenon, and vendors in this space are poised to strike against a hidden goldmine.

Software companies and vendors poised to successfully compete in the marketplace will be those that deliver software-as-a-service (SaaS). SaaS has already been incorporated into the strategy of all leading and fast growing software companies worldwide. The growing shadow of SaaS darkening the software landscape of late is interestingly the result of the 2007-2009 economic recession. SaaS based service vendors have hit the cord by outrunning their traditional counterparts by donning new dual roles of technologists cum strategic partners. Leveraging the numerous benefits and sophistication of cloud-computing, SaaS based software vendors have emerged to provide clients not just technology solutions but to be their strategic ally in meeting their unique and specific requirements and goals. Additionally, SaaS based solution vendors are offering applications in modules unlike the conventional strategy of providing a full suite of applications, thus allowing clients to purchase only those modules that service their specific functionality needs. And these modules are architectured around open web services standards, thus making integration with existing applications easy and less expensive.

On the product market solutions front, network software is poised to witness steady gains primarily driven by rapid proliferation of the Internet, and the subsequent rise in volume of confidential B2B and B2C transactions. Mobile networks are currently at their tipping point with exploding data traffic, a direct fallout of the exponential rise in the number of Internet connected mobile devices. Against this backdrop, importance of network security and security of mobile devices connected to the network is rapidly coming to the fore. Migration of mobile networks from walled garden to open networks, open peer-to-peer network architecture, dynamic network topology and shared wireless medium have all laid a fertile environment for the proliferation of security challenges in each network layer. Network security software and mobile security software including smartphone security software are therefore poised to emerge as prime beneficiaries as cyber threats like phishing, website spoofing, malware and network security breaches like Denial-of-service attack (DoS), increases by the day.

Information Security Software, such as, Identity & Access Management, Secure Content Management, Intrusion Detection/Prevention, Security & Vulnerability Management Software, and Firewall/VPN are also expected to perform well in the upcoming years. As a tool to help businesses to effectively integrate technical and business information and enhance the efficiency of processes, ERP (Enterprise Resource Planning) software, such as, Enterprise Asset Management (EAM), Product Lifecycle Management (PLM), Human Resource Management (HRM), Supply Chain Management (SCM), are also expected to perform well in the marketplace.

The research report titled “Software (IT): A Global Outlook” announced by Global Industry Analysts, Inc., provides a collection of statistical anecdotes, market briefs, segmental overview, and concise summaries of research findings. The report offers a rudimentary overview of the global software (IT) industry, highlights latest trends and demand drivers, in addition to providing statistical insights. Regional markets briefly abstracted and covered include United States, Canada, Europe (Finland, France, Germany, Greece, Italy, Russia, and the UK among others), Asia-Pacific (Japan, China, India, Korea, and Malaysia among others), Latin America (Brazil and Mexico) and Middle East. The report offers a compilation of recent mergers, acquisitions, and strategic corporate developments. Also included is an indexed, easy-to-refer, fact-finder directory listing the addresses, and contact details of companies worldwide.

For more details about this comprehensive industry report, please visit –
http://www.strategyr.com/Software_IT_Industry_Market_Report.asp

About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.

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Global Industry Analysts, Inc.
Telephone: 408-528-9966
Fax: 408-528-9977
Email: press(at)StrategyR(dot)com
Web Site: http://www.StrategyR.com/

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