Software Market size is estimated to reach USD 91.6 billion by 2028

 Software Industry Overview

The global software market size was valued at USD 51.08 billion in 2021 and is expected to register a CAGR of 8.7% from 2022 to 2028.

 

The surge in the volume of enterprise data, rising automation of business processes, and growing digitization are the major drivers for the software market. Moreover, rising network security and privacy concerns are other factors that support the software market. COVID-19 outbreak positively impacted the software market. The increasing concern of cyber threats during COVID-19 has stimulated companies to implement software solutions and configure malware protection, recognition, and mitigation strategies, thus fueling the growth of the software market.

 

Gather more insights about the market drivers, restrains and growth of the Global Software Market


The software mainly aims to protect and secure individual computing devices, information systems, internet communication, transactions, and networks. Security software performs tasks such as access management, data and network protection as well as security against viruses, intrusions, and any other system-level security risks. The demands of remote working have increased expenditure on cybersecurity software. With highly sophisticated methods and means of attack development, software innovators are firing back.

 

Recent years have observed a considerable adoption of software solutions, driven by the increase of e-commerce, large technology developments such as artificial intelligence and IoT, and the growing number of connected devices. The rising sophistication of malware and methods of attack as well as the growing accessibility of it has led to the development of an advanced cybersecurity software market, including innovative and varied cybersecurity tools and solutions.

 

The COVID-19 pandemic has positively affected the software market. During the COVID-19 pandemic, various incidences and cases of cybercrimes were detected across several sectors. The shift toward a remote working model has also augmented the danger of cyber threats across companies. The increasing concern of cyber threats has stimulated enterprises to implement software solutions and organize malware protection, detection, and mitigation strategies, thereby driving market growth.

 

Browse through Grand View Research's Network Security Industry Research Reports

  • Next-generation Firewall Market: The global next-generation firewall market size was valued at USD 4.33 billion in 2021 and is expected to expand at a CAGR of 11.1% from 2022 to 2030. 
  • Container Security Market: The global container security is an augmented security network technology used to advance traditional network technology with a modern cloud native. Container security is a set of tools, policies, and processes intended to improve the security competences of container applications.

 

Key Companies Profile

Some of the prominent players in the global software market include:

  • IBM Corporation
  • McAfee Corporation
  • NortonLifeLock Inc.
  • Microsoft Corporation
  • Oracle Corporation
  • SAP SE
  • Adobe Inc.
  • VMware Inc.
  • Square Inc.
  • Intuit Inc.

 

Order a free sample PDF of Software Market Intelligence Study, published by Grand View Research. 

Comments

Post a Comment

Popular posts from this blog

Global Potash Market: Trends, Growth & Forecast 2023-2032

T he global  potash market  size is expected to reach USD 93.50 billion by 2032, growing at a CAGR of 4.9% from 2023 to 2032, according to a new study by Grand View Research, Inc. This is attributed to the increasing demand for food and efficient usage of agricultural land. As consumers seek healthier options, there has been a surge in demand for high-value crops like fruits, vegetables, and specialty crops, boosting the demand for potash. Furthermore, the adoption of precision agriculture techniques has become increasingly prevalent in recent years. Precision agriculture involves using advanced technologies and data-driven approaches, such as soil testing and targeted nutrient management, to make informed decisions about fertilizer application.   Farmers are embracing precise and site-specific methods for applying fertilizers, based on field variability and crop requirements. This trend makes way for optimized resource utilization, improved crop performance, and enhanced...
Read more

Smart Ticketing Market Report: Emerging Technologies & Market Opportunities

  The global smart ticketing market size is expected to reach USD 31.65 billion by 2030, growing at a CAGR of 15.5% from 2023 to 2030, according to a new report by Grand View Research, Inc. With the widespread adoption of smartphones, mobile ticketing channels have gained traction, allowing users to purchase, store, and validate tickets directly on their mobile devices, eliminating the need for physical cards or paper tickets. The convenience and ease of use offered by mobile ticketing have contributed to the growth of the market. Smart ticketing systems generate vast amounts of data on passenger journeys, travel patterns, and ticket usage.   Operators leverage this data to gain valuable insights, optimize operations, and improve the overall passenger experience. Data analytics techniques, such as predictive modeling and real-time monitoring, are being applied to enhance efficiency, manage capacity, and offer personalized services, which bode well for smart ticketing...
Read more

Boosting Crop Yields: India Foliar Fertilizer Market Trends & Forecasts

  The  India foliar fertilizer market  size is expected to reach USD 4.9 billion by 2030, expanding at a CAGR of 11.3% during the forecast period, as per a new report by Grand View Research, Inc. The industry growth is majorly driven by surged demand for food due to increasing population coupled with supportive government initiatives and decreasing arable land in the country.   There has been a significant increase in the global prices of fertilizers and foliar fertilizers. As such, farmers falling into small- and marginal-income categories cannot afford to buy fertilizers resulting in reduced agricultural yields. This has led the Government of India to take initiatives to provide fertilizer subsidies to farmers in the country to make them affordable at subsidized prices. For instance, the Government of India announced a subsidy scheme related to fertilizers worth USD 27 billion in 2022 to ensure that fertilizers are affordable for every farmer in the country. Thus, ...
Read more