Lucintel Estimates Global Software Industry to Reach $406.6 Billion in 2017
Even in the face of worldwide recession, the global software industry experienced solid growth over the last five years.
- Dallas, TX (1888PressRelease) January 16, 2013 - Even in the face of worldwide recession, the global software industry experienced solid growth over the last five years. The industry is expected to continue its momentum to reach approximately $406.6 billion in 2017 with a CAGR of 7.1% over next five years (2012-2017).
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 global software industry is consolidated, comprising the segments of infrastructure software and application software. Infrastructure software includes operating system and database management system software, while application software consists of enterprise resource planning and business intelligence. North America dominates this industry and represents the largest percentage of the global market share. A combination of factors such as IT spending, technological innovations, and economic growth influence industry dynamics significantly.
Lucintel's research indicates that the industry declined in 2009, influenced by the global financial crisis, which affected the manufacturing and financial services sectors adversely and forced enterprises to scale back on their IT expenditures. The global economy is expected to stabilize and grow at a steady pace through the forecast period mostly driven by emerging economies such as India, China, and Brazil. New emerging markets and additional enterprises are likely to invest in software to build IT infrastructure that will help reduce costs and improve business productivity.
As the study indicates, economic crisis, currency fluctuations, and software piracy are the biggest challenges for the industry. Economic growth and new emerging markets, cloud computing, and increasing demand from small and medium enterprises are anticipated to boost the industry. Asia Pacific and the Rest of the World emerged as the fastest-growing regions during the last five years, led by economic growth and expanded IT spending.
This study, which provides an overview of the global software industry, tracks market sizing of two segments for four geographic regions of this industry; thus, it covers 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 ( @ ) lucintel dot com. Lucintel provides cutting-edge decision support services that facilitate critical decisions with greater speed, insight, and cost efficiency. To learn more, visit http://www.lucintel.com.
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