Lucintel's Analysis of the Global Application Software Industry: Market is Expected to Reach US $167 Billion in 2017
New products, emerging markets, and business models such as cloud computing and Software-as-a-Service stimulated the market growth globally.
- Dallas, TX (1888PressRelease) January 11, 2013 - The global application software market is expected to reach an estimated US $167 billion in 2017 with a CAGR of 6.7% over the next five years (2012-2017).
Lucintel, a leading global management consulting and market research firm, has analyzed the global application software industry and presents its findings in "Global Application Software Industry 2012-2017: Trend, Profit and Forecast Analysis."
The global application software industry is a consolidated industry consisting of ERP, CRM, SCM, and business intelligence and analytics. North America is the largest consumer of application software and represents almost half of the global market share. A combination of factors such as IT spending, technological innovations, and economic growth impacts the industry dynamics significantly.
Lucintel's research indicates that the revenue of the industry grew during 2006-2011 as economic growth in emerging markets such as India, China, and Latin America contributed immensely in the industry growth, which is driven by a relatively low penetration of software, fast growing economy, and local potential.
As per the study, economic growth and new emerging markets, new products, cloud computing, increasing demand from small and medium enterprises, manufacturing, and the banking and finance sector are the major drivers for the industry. The industry is expected to face certain challenges such as economic crisis, currency fluctuations, and software piracy.
This study is intended to provide concise overview of the global application software industry. The report tracks six market segments for four regions - thus it tracks twenty four segments of the application 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.
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