Global Computer Software Market Report and Forecast 2024-2032

Global Computer Software Market Report and Forecast 2024-2032

Global Computer Software Market Report and Forecast 2024-2032

Market Outlook

According to the report by Expert Market Research (EMR), the global computer software market size reached a value of USD 351.31 billion in 2023. Aided by the technological advancements, digital transformation initiatives, and the proliferation of software-as-a-service (SaaS) models, the market is projected to further grow at a CAGR of 6.2% between 2024 and 2032 to reach a value of USD 606.03 billion by 2032.

The computer software sector encompasses a broad spectrum of products and services designed to facilitate various computing functions, ranging from operating systems and productivity software to enterprise applications and cloud-based solutions. As businesses and individuals increasingly rely on software applications for communication, collaboration, productivity, and entertainment, the demand for innovative and efficient software solutions continues to escalate.

The computer software market growth is underpinned by several key drivers. The proliferation of digital technologies, including mobile devices, Internet of Things (IoT) devices, and smart appliances, has created a vast ecosystem of interconnected devices and platforms, driving the need for compatible software solutions to enable seamless connectivity and interoperability.

Moreover, the accelerating pace of digital transformation initiatives across industries, fuelled by factors such as globalisation, automation, and changing consumer behaviours, has spurred investments in software solutions aimed at enhancing operational efficiency, customer engagement, and business agility. Additionally, the growing adoption of cloud computing, artificial intelligence (AI), and data analytics technologies has fuelled demand for software-as-a-service (SaaS), platform-as-a-service (PaaS), and analytics software solutions, consequently driving up the computer software market share.

The market is characterised by a wave of technological innovations and disruptions reshaping the industry landscape. Emerging trends such as software-defined networking (SDN), containerisation, and microservices architecture are revolutionising the way software applications are developed, deployed, and managed, enabling greater flexibility, scalability, and agility in software development and deployment.

Furthermore, the advent of AI, machine learning (ML), and natural language processing (NLP) technologies is driving the proliferation of intelligent software solutions capable of automating routine tasks, personalising user experiences, and extracting insights from vast volumes of data. Additionally, the growing emphasis on cybersecurity, privacy, and compliance is fuelling demand for software solutions designed to protect against cyber threats, safeguard sensitive data, and ensure regulatory compliance, leading to computer software market development.

On-site software is installed at the organisation's physical location, using its own hardware and IT infrastructure. This deployment method allows for customisation based on the specific needs of the company. In contrast, cloud-based deployment involves remote management of the software through the cloud by a third-party provider. Data is stored and managed using a cloud computing framework across various data centres. Many organisations opt to license cloud-based software through a subscription model. Due to its flexibility and scalability, the market share of cloud-based software is projected to grow in the coming years.

As per the computer software market analysis, Latin America, Africa, and the Middle East are witnessing rapid growth fuelled by factors such as expanding internet penetration, increasing smartphone adoption, and government initiatives aimed at promoting digital inclusion and economic development. Moreover, the growing trend towards remote work, e-commerce, and digital entertainment amidst the COVID-19 pandemic has further accelerated the adoption of software solutions in these regions, driving market growth.

Market Segmentation

The market can be divided based on the type, deployment, application, end use, and region

Market Breakup by Type

• Operating Systems and Productivity Software
• Database, Storage and Backup Software
• Business Analytics and Enterprise Software
• Design, Editing and Rendering Software
• Others

Market Breakup by Deployment

• On-premises
• Cloud

Market Breakup by Application

• Personal
• Business/Commercial
• Industrial

Market Breakup by End Use

• Media and Entertainment
• BFSI
• IT and Telecommunications
• Energy and Utilities
• Government and Public Sector
• Manufacturing
• Others

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in global computer software market. Some of the major players explored in the report by Expert Market Research are as follows:

• Microsoft Corporation
• Alphabet Inc. (Google LLC)
• IBM Corporation
• Adobe Inc.
• Oracle Corporation
• SAP SE
• Dell Inc.
• HP Inc.
• McAfee, LLC
• Salesforce, Inc.
• NortonLifeLock Inc.
• VMware, Inc.
• Others

About Us

Acquire unparalleled access to critical industry insights with our comprehensive market research reports, meticulously prepared by a team of seasoned experts. These reports are designed to equip decision-makers with an in-depth understanding of prevailing market trends, competitive landscapes, and growth opportunities.

Our high-quality, data-driven analysis provides the essential framework for organisations seeking to make informed and strategic decisions in an increasingly complex and rapidly evolving business environment. By investing in our market research reports, you can ensure your organisation remains agile, proactive, and poised for success in today's competitive market.

Don't miss the opportunity to elevate your business intelligence and strengthen your strategic planning. Secure your organisation's future success by acquiring one of our Expert Market Research reports today.

*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.