ALBANY, New York, July 9, 2020
- Players in independent software vendors (ISV's) market focus on the troika of fail-safe, scalable, and cost-effective for developing products; cloud-based offering underpins vast avenue for growth.
- Vast business proposition of enterprise solutions keeps North America market lucrative for ISV's; data security concerns in cloud key pain points for customers which ISV's trying to address.
ALBANY, New York, July 9, 2020 /PRNewswire/ -- Independent Software Vendors (ISVs) are keen on distributing software products that are expected to be fail-safe, scalable, and improve end-use experiences, independent of the hardware offering. Innovation in digital space is key to multiplying revenue generation in ISVs market.
Innovative offerings by ISVs, notably financial services-ready platforms on cloud model, are expected to disrupt the landscape in near future. Globally, the independent software vendors (ISVs) market stood at ~US$ 1,573.29 Bn in 2019, and is projected to touch ~US$ 4,077.72 Bn by 2027. This represents compound annual growth rate of ~13% from 2019 to 2027.
Companies are launching ISV partner programs to expand access to software solutions for customers, affirm analysts at TMR. They further concede that switching to cloud will endow end-use businesses increased flexibility and low operating cost, hence higher scalability.
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Key Findings of Independent Software Vendors (ISVs) Market Report
Explore 336 pages of granular assessment, evidence-based insights, and detailed country-level projections. Gain business intelligence on Independent Software Vendors (ISVs) Market (Software Deployment: Cloud and On-premise; Application: Financial Services, Healthcare, Industrial & Manufacturing, Public Sector & Utilities, Retail, Service Providers, Telecom, Media & Entertainment, Education, and Others [Hospitality, Transportation, etc.]) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 - 2027 at https://www.transparencymarketresearch.com/independent-software-vendors-market.html
Independent Software Vendors (ISVs) Market: Driving Factors and Promising Avenues
Changing preferences in the software sector and the associated vendor landscape shape the growth dynamics in the independent software vendors (ISVs) market. A few of the more striking ones are worth taking note of:
Analyze Independent Software Vendors (ISVs) Market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study
Key Impediments for Independent Software Vendors (ISVs) Market Players
The dichotomy of services versus solutions has intrigued end use industries in the independent software vendors (ISVs) market. For long, the manufacturing industries have relied on outsourcing of services for getting access to cutting-edge software such as 3D. However, at times, these have been found to fall short of quality, hence spurring ISVs vendors to work toward meet their client's expectations.
Another genuine concern is data thefts and lack of security. These are also the key pain points for consumers which have dampened the uptake of cloud-based solutions. Aspiring players are also looking for improving the functionality of multi-cloud and hybrid cloud as well as addressing data privacy concerns in them.
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Independent Software Vendors (ISVs) Market: Competitive Landscape
Some of the top players in the independent software vendors market are Microsoft Corporation, Oracle Corporation, ASG Technologies Group, Inc., Apple Inc., and Google LLC. Several of these are leaning on offering collaborative solutions, including enterprise suites and mainly web conferencing technology.
Further, multinational businesses in end-use industries are getting into collaborations and inking partnership deals with ISVs. A prominent trend is in the healthcare and financial services industry.
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The independent software vendors (ISVs) market can be segmented based on:
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