Software and services are all set for explosive growth: Ken Research
Apart from Software development and maintenance in a traditional license based system, cloud services are also a big part of software industry (such as SaaS, PaaS, IaaS, MaaS, AaaS, etc.).The global software market is consolidated, comprising the segments of infrastructure software and application software. Infrastructure software includes operating system and database management system software, while application software consists of enterprise resource planning and business intelligence.
Last 5 years have been great for software industry despite global economic. The industry is expected to continue its momentum to reach half a trillion dollars in couple of years. Global trends like Internet of things (IOT), Smarter cities and smarter cars growth in the area of security technology and a high demand for security experts, development of VR and AR, digitization of health information and dependency on data analytics ensures tech sector is set for explosive growth. Except for SAP (Germany) all of the world top 10 companies are from the US with Microsoft, Oracle and IBM being top 3 in terms of revenue from software. Fijitsu and Hitachi are only players from Asia in top 20 despite software not being their major source of revenue. Following the footsteps of SAP and VMware companies are increasing their investment in cloud based services which can improve the unit economics of the industry.
According to the research report “ Software and BPO Services Market Global Report 2017�, Europe accounts for 26%, Asia 33% and the Americas being the largest region in the software and BPO services market in 2016, accounts for around 38% market share. Increasing demand for software services from professional services companies such as finance, HR companies and from manufacturing companies has been the major growth drivers of the industry. This level of global competitiveness will ensure pace of technological development of the industry will not slow down in the near future. Business Process Outsourcing, which has become one of the most essential components of managing costs and efficiencies in business organizations nowadays. Generally non-primary commercial functionalities are contracted to BPO companies who act as a third party service provider. BPO, Business Process Outsourcing falls under the wider domain of the Business World called as information
Technology Enabled Services (ITES). Therefore, a vast number of companies around the world have come forward to provide the essential services to BPO International clientele. Constant and strong growth of BPO industry had insured a frictionless customer support worldwide with companies like, CBRE, INFOSYS, Genpact, Capgemini, and Accenture being the leading players globally. The global BPO Services market has 11 figure total revenue in USD, representing a compound annual growth rate of over 4% since 2012 but expected to slow down in coming 5 years due to global economic downturn. There are some very large and highly developed players in the Asia-Pacific market like Fujitsu, NTT data, IBM, NEC, Hitachi, Accenture etc. and many companies are located in Asia for the ability to offer off shoring services on a big scale. North American market has the largest chunk of global BPO service market mainly due to US giants of the industry. Within Europe the UK is by far the biggest market in
value terms almost, 4 times the size of France which is the second largest. Key Topics Covered in the Report Global BPO Services Market Research Global Software Industry Trends Global BPO Industry Market Competition US BPO Services Market Research Europe BPO Services Industry Analysis India BPO Services Marker Research Global BPO Services Market Research Forecast Software and BPO Services Market Competition China Software and BPO Services Market India Software and BPO Services Market Japan Software and BPO Services Market Australia Software and BPO Services Market
To know more about the research report: https://www.kenresearch.com/technology-and-telecom/it-and-ites/ software-bpo-services/127010-105.html
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