Pune, May 15, 2025 (GLOBE NEWSWIRE) -- Business Software and Services Market Size Analysis:
“According to the SNS Insider report, the Business Software and Services Market size was valued at USD 529.39 billion in 2023 and is estimated to reach USD 1343.11 billion by 2032, growing at a compound annual growth rate of 11.02% during the forecast period from 2024 to 2032.”
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Major Players Analysis Listed in this Report are:
- IBM Corporation – (IBM Cloud Pak, IBM Watson Analytics)
- Infor – (Infor CloudSuite, Infor M3)
- SAP SE – (SAP S/4HANA, SAP Business One)
- Microsoft – (Microsoft Dynamics 365, Microsoft Power BI)
- NetSuite Inc. – (NetSuite ERP, NetSuite CRM+)
- Epicor Software Corporation – (Epicor Kinetic, Epicor Prophet 21)
- Unit4 – (Unit4 ERP, Unit4 Financial Planning & Analysis)
- MicroStrategy Incorporated – (MicroStrategy HyperIntelligence, MicroStrategy Analytics)
- SYSPRO – (SYSPRO ERP, SYSPRO CRM)
- Deltek, Inc. – (Deltek Costpoint, Deltek Vantagepoint)
- Acumatica, Inc. – (Acumatica Cloud ERP, Acumatica Financial Management)
- Oracle – (Oracle Fusion Cloud ERP, Oracle NetSuite SuiteCommerce)
Business Software and Services Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | US$ 529.39 Billion |
| Market Size by 2032 | US$ 1343.11 Billion |
| CAGR | CAGR of 11.02% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Key Regional Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe [Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]). Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
| Key Growth Drivers | Increasing Adoption of Cloud-Based and AI-Powered Solutions Enhances Business Software and Services Market Growth |
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The U.S. business software and services market was valued at USD 106.32 billion in 2023 and is projected to reach USD 246.14 billion by 2032. Growth is driven by widespread cloud adoption, automation, and digital integration across industries. The market is expected to grow at a CAGR of 9.90% from 2024 to 2032.
By Software: Finance Dominates, Sales & Marketing Sees Fastest Growth
The finance segment dominated the market and accounted for 24.58% of revenue share in 2023, owing to its importance in budgeting, accounting, risk management, and compliance for the market. Financial software is critical for organizations that depend on it to simplify processes, meet compliance requirements, and allow for an available and real-time analysis of their finances.
The sales & marketing segment is expected to register the fastest CAGR from 2024–2032. Growth is driven by the emergence of data-driven marketing, customer relationship management, and AI-enabled campaign analytics. Companies have access to intelligent sales platforms with features such as personalization, lead scoring, and omnichannel to drive revenue and customer loyalty.
By Services: Support & Maintenance Leads, Managed Services Expand Rapidly
The support & maintenance services segment dominated the market in 2023 and accounted for 41.59% of revenue share, as continuous monitoring, updates, troubleshooting, and system optimization are essential to maintain the software reliability and compliance for business. As it relates to mission-critical operational environments, support services have become an essential service to industries as software upgrades, bug fixes, and cybersecurity threats increase.
The managed services segment is expected to record the fastest CAGR during the forecast period. As IT operations are moving towards outsourcing, enterprises are opting for managed service providers to take care of their resourceful deployments, managing of infrastructure, security, and cloud operations. It lowers expenses associated with organic approaches and helps internal teams double down on things they do best.
By Deployment: Cloud Leads, On-Premise Grows Fastest
In 2023, the cloud segment dominated the market and accounted for 57.89% of revenue share, driven by the scalability, flexibility, and cost efficiency of cloud-based software. For the last several years, enterprises have moved away from the traditional model in favor of SaaS and platform-as-a-service solutions, paving the path for synchronous operations, remote collaboration, and integrations across ecosystems.
The on-premise segment is estimated to expand at the fastest CAGR during the period 2024–2032. While the cloud has taken off like a rocket ship, given data sovereignty, compliance and security requirements in government, defense and regulated industries, there is no choice but to choose on premise software. Growing hybrid deployment models are further aiding on-premise adoption as well.
By Enterprise Size: Large Enterprises Dominate, SMEs See Rapid Growth
The large enterprises segment dominated the market and accounted for 60.59% of revenue share, owing to their huge IT budgets, their global footprint, and the need for an integrated enterprise resource planning, customer management, and analytics platform. They rely on integrated software and services to remain competitive and to support complex workflows.
Small and Medium Enterprises are also expected to register the fastest CAGR during the forecast period. Cloud-based software is becoming more affordable, enterprises are offering Software as a Service subscription, and government support towards digitalization programs enables SMEs to obtain sophisticated solutions to streamline operations, enhance customer service, and scale up their business.
By End Use: IT & Telecom Dominates, Healthcare Expands Rapidly
In 2023, the IT & Telecom segment led the market with high software dependencies, fast-changing technology, and demand for automation and agile development tools. Telecom companies widespread use software for an array of purposes — network management, billing, customer engagement — which makes them a highly significant segment of market growth.
From 2024 to 2032, the healthcare segment is anticipated to achieve the fastest CAGR, owing to digital health initiatives, expansion of telemedical services, and rising adoption of electronic health records. As the data volumes are on the rise, the call for secure, compliant and interoperable healthcare software are upto the roof of hospitals, clinics and diagnostic labs.
Business Software and Services Market Segmentation:
By Software
- Finance
- Sales & Marketing
- Human Resource
- Supply Chain
- Others
By Services
- Consulting
- Managed Services
- Support & Maintenance
By Deployment
- Cloud
- On-premise
By Enterprise Size
- Large Enterprises
- Small & Medium Enterprises
By End Use
- Aerospace & Defense
- BFSI
- Government
- Healthcare
- IT & Telecom
- Manufacturing
- Retail
- Transportation
- Others
Regional Insights: North America Leads, Asia-Pacific Grows Fastest
In 2023, North America dominated the market and held the largest market share, as it is home to key software vendors and has advanced IT infrastructure with significant early adoption of emerging technologies. Software innovation still remains heavily invested in U.S.-based companies there is a clear sense of AI, cloud, and cybersecurity integration.
Asia-Pacific is expected to register the fastest CAGR over the study period from 2024 to 2032. The software adoption is driven by various factors such as rapid digitalization across the country, the increase in internet penetration, and the initiatives taken by the government, such as "Digital India" in countries like India, China, Japan, and other Southeast Asian countries. Also, the ongoing number of startups and SMEs within the area is boosting the demand.
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Table of Contents – Major Key Points
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
6. Competitive Landscape
7. Business Software and Services Market Segmentation, By Software
8. Business Software and Services Market Segmentation, By Services
9. Business Software and Services Market Segmentation, By Deployment
10. Business Software and Services Market Segmentation, By End Use
11. Business Software and Services Market Segmentation, By Enterprise Size
12. Regional Analysis
13. Company Profiles
14. Use Cases and Best Practices
15. Conclusion
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