Positive. Business Software and Services Market projected to reach $1343.11 billion by 2032 with 11.02% CAGR.
From GlobeNewswire: 2025-05-15 10:10:00
According to SNS Insider, the Business Software and Services Market was valued at USD 529.39 billion in 2023 and is projected to reach USD 1343.11 billion by 2032, with a CAGR of 11.02% from 2024 to 2032. Major players include IBM, SAP, Microsoft, and Oracle, among others.
The U.S. business software and services market was valued at USD 106.32 billion in 2023 and is expected to reach USD 246.14 billion by 2032, growing at a CAGR of 9.90% from 2024 to 2032. Finance dominated the market in 2023, while sales and marketing are expected to see the fastest growth.
Support & maintenance services led the market in 2023, accounting for 41.59% of revenue share, while managed services are projected to grow rapidly. Cloud deployment dominated the market in 2023, but on-premise deployment is expected to grow the fastest from 2024 to 2032.
Large enterprises dominated the market in 2023, accounting for 60.59% of revenue share, while SMEs are expected to see rapid growth. The IT & Telecom sector led the market in 2023, with healthcare anticipated to achieve the fastest CAGR from 2024 to 2032. The demand for secure, compliant, and interoperable healthcare software is skyrocketing as data volumes increase in hospitals, clinics, and diagnostic labs. The Business Software and Services Market is segmented by software, services, deployment, enterprise size, and end use. North America leads, but Asia-Pacific is expected to grow fastest due to digitalization and government initiatives.
The market dynamics impact analysis, statistical insights, and trends reporting, and competitive landscape are key points in the Business Software and Services Market Analysis & Outlook 2024-2032. SNS Insider, a leading market research agency, aims to provide clients with current and accurate market data to make confident decisions. Related reports cover Customer Experience Business Process Outsourcing Market, Business Management Consulting Service Market, Business Rules Management System Market, and Self-Service Business Intelligence Tools Market.
Read more at GlobeNewswire: Business Software and Services Market to Reach USD 1343.11