Global Independent Software Vendors Market Overview:
The Independent Software Vendors market industry is projected to grow from USD 289.8 Billion in 2023 to USD 910.7 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 13.6% during the forecast period (2023 – 2032).
An Independent software vendor (ISV) can be expressed as an organization that is involved in the development and sales of software to consumers across industries. The upsurge of the independent software vendors (ISVs) market is driven by augmenting the adoption of cloud solutions by the end-use industries to enhance their operational efficiency and reduce costs. Culturing integration of digital solutions in the healthcare industry is projected to drive market growth at a significant rate during the review period. In addition to this, growing product demand in developing nations is expected to create lucrative growth opportunities for the players running in the global market.
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Key Companies in the Independent Software Vendors market include,
The worldwide independent software vendors (ISV) market is set to accumulate growth at a modest pace owing to the scope for small and medium enterprises and the entry of new players for reducing the prices of products and services. Cloud technology is projected to rule in the global market owing to the benefits of the cloud. In addition, the requirement for companies to scale their services without being pulled back by restraints and hurdles can push the segment demand in the market. Changing customer routine and convenience of home delivery is likely to propel the demand for ISVs to provide storage options and seamless customer experience for mobile application users.
The Global Independent Software Vendors (ISVs) Market report provides an integrated evaluation of the market. The report provides a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that play a significant role in the market.
The global independent software vendors (ISVs) market has been segmented into type and application.
By type, the global independent software vendors (ISVs) market has been segmented into Cloud and On-Premise.
By application, the global independent software vendors (ISVs) market has been segmented into E-Commerce, Logistics, Retail, Healthcare, Financial, Education, and Others.
Based on type, the market has been segmented into cloud and on-premise. The cloud segment accounted for the larger market share in 2019, and it is projected to register the higher CAGR over the forecast period.
By application, the market has been segmented as e-commerce, logistics, retail, healthcare, financial, education, and others. The retail segment had the highest market share in 2019, and the e-commerce segment is expected to record the highest CAGR over the forecasted timeframe.
North America to Lead the Global ISV Market
Due to the abundance of ISVs and the ease of doing business in the United States and Canada, North America is likely to take the lead in the worldwide independent software vendors market. The path to digital payments and the virtualization of infrastructure is projected to be opportunities for the region’s market to grow. Furthermore, large-scale investments in cutting-edge technologies such as artificial intelligence, big data, and machine learning might boost regional market demand.
The Global Independent Software Vendors (ISVs) Market is divided into five regions; North America, Asia Pacific, Europe, Latin America, and the Middle East & Africa.
North America is estimated to take the lead in the worldwide independent software vendors market owing to the abundance of ISVs and ease of business index in nations of the U.S. and Canada. The route to digital payments and virtualization of infrastructure is anticipated to be opportunities for the market to expand in the region.
APAC is acknowledged to exhibit the fastest-growing market owing to the rapid pace of the economies of India and China. The shift towards electric mobility and espousal of the latest communication networking technologies would require software licenses at nominal rates that could be advantageous for ISVs. Moreover, the ambition of governments for launching digital currencies and connect all remote regions through blazing internet speeds can invoke the requirement for independent software vendors.
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Oct. 21, 2021 — RingCentral, Inc., a leading global provider of enterprise solutions, announced its partnerships with three healthcare Independent Software Vendors (ISVs) – ChronicCareIQ, Ascom, and ELLKAY to enhance capabilities of RingCentral Contact Center and RingCentral MVP (Message Video Phone). RingCentral offers cloud communications, video meetings, collaboration, and contact center solutions.
The partnerships would enable providers to transform point of care workflows managed via ruggedized VoIP wireless devices to enhance patient engagement with data-driven interaction during outbound and inbound patient calls.
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