Software and services are all set for explosive growth: Ken Research

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Software and services are all set for explosive
growth Ken Research
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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.
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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.
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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
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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
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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
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To know more about the research
report https//www.kenresearch.com/technology-and
-telecom/it-and-ites/software-bpo-services/127010-
105.html Related Links https//www.kenresearch.co
m/media-and-entertainment/information-services-new
spaper-and-magazines/top-countries-bpo-business-an
alytics-2017/104463-94.html https//www.kenresear
ch.com/technology-and-telecom/it-and-ites/bpo-serv
ices-scandinavia/99847-105.html Contact Ken
Research Ankur Gupta, Head Marketing
Communications query_at_kenresearch.com 91-124-42302
04
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