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Pune, India, May 27, 2021 (GLOBE NEWSWIRE) –
Market analysis
The rise of cloud-based Software as a Service (SaaS) offerings may further increase independent software vendors market share during the forecast period. Market Research Future (MRFR), in its Independent Software Vendor Market Analysis, asserts that the market valuation is expected to increase further from $ 202.85 Million in 2019 to $ 408.15 Million by 2026, with a stable CAGR during the period under review 2026).
The COVID-19 pandemic has dramatically disrupted operations in the ISV market, further encouraging ISVs to take innovative steps to stay afloat in the market. While the times have been difficult, it has also offered immense opportunities to independent software publishers, who have innovated and adapted their offers to meet new customer requirements.
The first initiative taken by independent software companies was to host webinars and create forums to address COVID-19 grievances that could affect customers, which has dramatically increased market demand. Another trend that has accelerated considerably has been the use of augmented or assisted reality (AR). AR capabilities have been used more widely as independent software vendors, and their clients are moving into new ways of doing business.
This technology is increasingly adopted to support remote in-service field assistance and to provide guidance for hands-free manufacturing operations. Independent software vendors have enabled AR in their applications to meet the needs of increasingly technology-demanding customers.
In addition, advanced cloud and product engineering skills have been at the heart of these companies to increase their sales during and after the pandemic. They believe these skills would enable them to add tremendous value to their clients in key markets as they build agile and resilient businesses for the post-pandemic world.
Overview
The demand for value-added services (VAS) and support for solutions and service management are driving the growth of independent software vendors market. The disruptions of COVID-19 have led to changes in the design and development of contactless services. In addition, the use of data collected from VAS can lead to scalable and robust software and applications that would increase the size of the ISV market.
OEM support for custom solutions can guide the success of ISVs in the years to come. This support results in reduced cost control and investment costs while maintaining high efficiency. In addition, the changing telecommunications landscape and the ability to meet changing customer demands may influence the market value of independent software vendors during the forecast period.
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Market segmentation
The independent software vendors market forecast is segmented into type, application, and regions. The type segment is sub-segmented into on-cloud and on-premise. Among these, the cloud segment holds the largest market share. The rules of cloud technology because of the benefits of the cloud. The market growth of the segment can also be attributed to the growing need of companies to evolve their services without being affected by barriers.
The applications segment is sub-segmented into e-commerce, logistics, retail, healthcare, finance, education and others. Among these, the e-commerce segment creates significant market value. The e-commerce app is benefiting independent software companies the most due to the boom in online shopping.
Changing customer habits and the convenience of home delivery is an important factor driving the demand for independent software vendors in e-commerce. In addition, providing storage options and a seamless customer experience for mobile app users offers vast opportunities for independent software vendors in the e-commerce industry.
Browse the in-depth (103 pages) market research report on Independent Software Vendors industry:
https://www.marketresearchfuture.com/reports/independent-software-vendors-market-10305
Regional analysis
The regional segment is divided into Asia-Pacific (China, Japan, India, South Korea and rest of APAC), the Americas (Canada, Mexico, United States, rest of North America) and America South, Europe (UK, Germany, France, Italy and rest of Europe) and rest of the world.
It is observed that North America has always dominated the global market for independent software vendors and is also expected to maintain its position in the market in the years to come. The presence of a large number of independent publishers and the ease of doing business index in the countries of the United States and Canada are driving the market growth in the region.
In addition, increasing demand of independent software vendors market in verticals and internet connectivity with high reliability in this region are expected to drive the market growth. The proliferation of digital payments and the virtualization of infrastructure offer vast opportunities for market growth.
Additionally, investments to take advantage of the latest technologies such as augmented or assisted reality (AR), artificial intelligence (AI), big data and machine learning can boost market opportunities for independent software vendors.
Europe is the second best in the world in terms of independent software vendor market revenues. The increasing digitization and automation in the region is influencing the growth of the market. In addition, the increasing adoption of SaaS platforms in government organizations and business sectors is creating substantial market demand. In addition, the increasing use of piracy of cloud-based technologies is inducing an expansion of the independent software vendors market.
The Asia-Pacific region has seen a dramatic increase in the market value of independent software vendors. Factors driving the growth of the market include the shift to electric mobility and the adoption of the latest communication networking technologies requiring software licenses at nominal rates. In addition, the growing consumer awareness and adoption of cloud computing alongside the rapidly growing economies of India and China could play a major driving role for the independent software vendor market.
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Competitive landscape
The independent software vendor market is expected to witness significant strategic approaches such as expansion, collaboration, mergers and acquisitions, and integration of advanced technologies. The main players in the industry make strategic investments in the conduct of research and development activities and in the promotion of their expansion plans.
For example, on February 1, 2021, Vection Technologies, an independent software publisher (ISV), announced a strategic partnership with multinational IT company HP to co-create a line of revolutionary virtual reality (VR) solutions. The duo signed an OEM agreement to design and launch a range of integrated virtual reality solutions that would combine HP hardware and Vection software.
Notable players operating in the global Independent Software Vendors market include:
- Double-Take Software (United States)
- Google Inc. (United States)
- RSA Security LLC (United States)
- Odyssey Software (United States)
- Mocana (United States)
- Oracle Corporation (United States)
- ServiceNow (United States)
- LP (United States)
- Compuware Corporation (United States)
- HP Development Company (United States)
- COM Inc. (United States)
- SAP SE (Germany)
- Cisco Systems Inc. (United States)
- Apple Inc. (United States)
- Microsoft Corporation (United States)
- Micro Focus (United States)
- Yahoo! (WE)
- IBM Corporation (United States)
- Nutanix (United States)
Discover more research reports on Software, By Market Research Future
Industry trends
Independent software companies are redefining the global technology landscape, helping organizations improve agility, accelerate innovation and drive productivity. Many are using their cloud-based Software as a Service (SaaS) offerings on platforms that have been able to dramatically improve application performance and generate more value for their customers.
Apart from the performance, the complete pricing structure is another factor driving the demand of the independent software vendors market. With technological advancements and increasing digitization, there is a need to have an ISV partner integrated into every business system.
Deploying secure accounts that allow customers to access, store and manage their data can be a plus for suppliers. These factors are expected to cumulatively increase the size of the independent software vendors market over the coming period.
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