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Business Softwares: Complete Sector Overview

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Global Business Software Industry

The global business software industry covers software programs used to boost and measure productivity within the business sector. The industry encompasses basic software for small businesses (like Microsoft Office and accounting software); software for medium-sized businesses (like those that deal with human resources, client relations, field services, etc.); and more in-depth applications for larger companies (like business process management and enterprise resource planning).

Key Market Segments

The global software-as-a-service (SaaS) market is forecast to record an impressive 41% yearly growth between 2008 and 2015 to exceed $4.3 billion, up from $390 million in 2008. The market is being fuelled by increasing adoption of web-based applications, and relatively low initial implementation costs as companies can opt for on-demand applications instead of purchasing the full application license. Growth is particularly strong throughout Asia Pacific, while Australia & New Zealand (ANZ) together represent the number-one regional market in Asia Pacific. Emerging markets like China and India are forecast to record strong growth over the coming years, followed by Singapore and Hong Kong.

Customer relationship management (CRM), ERP and collaboration represent the most-used applications. Over the coming years, interest is likely to continue rising for applications like e-procurement platforms, e-learning and HRM. Obstacles to market growth include lack of bandwidth and data security.

TechNavio estimates the world enterprise social software industry will record 18% yearly growth between 2010 and 2014. Market growth is being driven by rising productivity and collaboration through the use of enterprise social software.

The world product lifecycle management software (PLM) market is expected to exceed $44 billion by 2017, according to Global Industry Analysts. Market growth is fuelled by greater concern for collaborative product development, faster time-to-market and cost cutting.

The world security software as a service industry is expected to record 28% yearly growth between 2010 and 2014, reports TechNavio. Compliance requirements are a major driver behind this market. Slow security SaaS verticals development may impede market expansion. Key players operating in this market include: Cisco Systems, McAfee, Trend Micro and Symantec.

Global Industry Analysts predicts the global sales force automation software market will surpass $16 billion by 2015. The SFA market is driven by mobile sales force diversification and demand for immediate sale decisions.

The global supplier relationship management software market is expected to record 8% yearly growth between 2010 and 2014, according to TechNavio. Key players operating in this market include: Epicor, Ariba, SAP and Oracle. The market is fuelled by various factors including companies’ eagerness to limit supply chain deficiencies through supplier relationship management software use. Lack of ERP capability solutions and integrated procurement present obstacles to market growth.

Global Industry Analysts estimates the global professional service automation software market will exceed $7.6 billion by 2017. The EU and the US hold the largest share of the world professional service automation software market.

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Parent industry: Software
Related industries: Open Source, Video Game

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