Software Industry 2023

Top Insights for Software Markets:

The global Software and Services market reached the value of US$ 1,220 billion in 2018, and Brazil kept in the 9th position in the world ranking with a domestic market of approximately US$ 23 billion.

The enterprise software market is expected to reach a value of USD 530 bn according to the Gartner Group consultancy and software spending is likely to grow by 8% yearly till 2022.

In 2018, the total number of global app downloads reached 194 billion.

The global game market is expected to grow to US$214.7 billion in 2023, representing a CAGR of 8.9% from 2018.

The mobile game segment of the market witnessed remarkable growth, increasing from US$33.8 billion in 2014 to US$78.0 billion in 2018, achieving a CAGR of 23.3%, mainly due to the popularity of mobile phones and increasing penetration of mobile internet, particularly in developing countries and regions such as China and Southeast Asia.

According to a 2017 market research report by Grand View Research, the market for application security software is expected to reach $10.7 billion by 2025.

There are also whole new markets; industry research firm IoT Analytics puts the software industrial IoT market at $1.7 billion in 2018 growing to $10 billion by 2023, including both the contribution from the Industrial Internet of Things (IIoT) and Augmented Reality/Virtual Reality (AR/VR).

Overview per country:

• China : The total revenue of the PRC game market is expected to reach RMB421.5 billion in 2023, representing a CAGR of 12.3% from 2018 to 2023, mainly driven by the expected growth of mobile games.
• US : In 2018, the United States exported $38 billion in computer software to the world.
• Canada : The Canadian cyber security software and services market was estimated at almost $2.3 billion in 2018, up 9.2% from 2017.
• India : Indian software product industry is expected to reach the mark of US$ 100 billion by 2025.
• Indonesia : Indonesia's blossoming software industry spending is expected to increase by 33% to USD 896 million in 2020. Indonesia's cloud computing market is expected to reach more than US$1.2 billion by 2022 and Software-as-a-Service (SaaS) is expected to be a popular choice for Indonesians.

Top view datapoints for Software Markets:

• Computer Software Sales in the US - 1999 to 2019
• Forecast [COVID-19 updated]: Computer Software Sales in the US - 2019 to 2023
• Software Publishers Revenue in Canada - 2012 to 2019
• Forecast [COVID-19 updated]: Software Publishers Revenue in Canada - 2019 to 2023