Business Software Industry To Boost Due To Increasing Enterprise Data Volumes
Business Software Industry Data Book Covers Event Management Software, ERP Software and Quality Management Software Markets.
The global market for business software was estimated at USD 71.11 billion in 2022 and is anticipated to increase at a CAGR of 11.3% from 2023 to 2030.
Access the Global Business Software Industry Data Book, 2023 to 2030, compiled with details like market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking, macro-environmental analyses, and regulatory & technological framework studies.
Event Management Software Market Growth & Trends
The global event management software market size is anticipated to reach USD 14.48 billion by 2028, registering a CAGR of 12.5% from 2021 to 2028, as per the research conducted by Grand View Research, Inc. The growing popularity of cloud-based solutions and the increasing preference for hosting virtual events are some of the major factors that are anticipated to drive the growth of the market over the forecast period. Given the growing reliance of organizations on a dedicated IT infrastructure to improve business productivity, cloud-based managed services are emerging as a cost-effective alternative for organizations, which bodes well for the growth of the market. The availability of various subscription-based pricing models is also expected to contribute to the growth of the market.
The outbreak of the COVID-19 pandemic has been particularly driving the adoption of event management software. Lockdowns imposed in different parts of the world as part of the efforts to arrest the spread of coronavirus have affected several industries and industry verticals. Several small, medium and large enterprises have adopted the work-from-the-home working model to protect their employees in the wake of the outbreak of the pandemic. On the other hand, educational institutions and corporates are particularly resorting to virtual events, which is typically driving the demand for event management software.
ERP Software Market Growth & Trends
The global ERP software market is anticipated to reach at USD 123.41 billion by 2030, expanding at a CAGR of 11.0% from 2023 to 2030, according to a new report by Grand View Research, Inc. The growing application of ERP software in the retail, banking, utility, healthcare, and government sectors is expected to drive market demand. Organizations gain from the software's increased operations, improved decision-making, and efficiency. As a result, the ERP software industry is expected to experience a significant increase in the forecast period offering a wide range of benefits to the stakeholders.
The cloud deployment of ERP software accounts for maximum revenue in 2022, owing to the COVID-19 pandemic's increased use of cloud-based ERP software. Additionally, a growing volume of sizable data and an increase in the advantages of cloud technology in terms of data & remote accessibility, cheap maintenance, security, and efficiency are gaining ground in the market. Additionally, this market is anticipated to expand more quickly due to advantages including quicker implementation and ease of installation. Due to the widespread usage of ERP software for various financial management activities such as asset management, investment, cash flow management, and accounting, the finance function is expected to hold the greatest part of the market in 2022. Additionally, the growing demand for organizations to adopt ERP software solutions and track and record client payments, sales, and invoices encourage the category's expansion.
Order your copy of Free Sample of “Business Software Industry Data Book - Event Management Software, ERP Software and Quality Management Software Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 - 2030” Data Book, published by Grand View Research
Quality Management Software Market Growth & Trends
The global quality management software market size is estimated to reach USD 20.66 billion by 2030, registering a CAGR of 10.6% from 2023 to 2030, according to a new study by Grand View Research, Inc. The market growth is attributed to factors such as growing emphasis on establishing internal quality policies and standard operating procedures to supplement organizational growth and developing a customer-centric organization. For industries such as utility and energy, the implementation of quality management software (QMS) is expected to increase owing to advantages such as mitigation of compliance and operational risk, standardization of process, improved decision making, and reduction of energy waste while improving the organization's goodwill.
The healthcare sector is another vertical with the potential for wide implementation of quality management systems (QMS), which is expected to support the software's market growth. The software providers offer hospitals and pharmaceutical companies customized solutions to streamline operations and reduce task time. For instance, in July 2021, Intelex Technologies provided Community Memorial, a hospital in California, with quality management software solutions. The solution includes monitoring & measurement, document control, an audit checklist, supplier management, and a customized dashboard. The software implementation increased the incident reporting rate, administration efficiency, and lead time reduction for a particular task.
Furthermore, quality management software provides a range of functionalities, such as handling non-conformances of specification test results, ensuring compliance, and calibration, along with a centralized system that is calibrated with the CRM and ERP systems. These functionalities, such as the reduction of business process optimization and operational costs, are expected to propel the adoption of QMS across different industry verticals.
Go through the table of content of Business Software Industry Data Book to get a better understanding of the Coverage & Scope of the study.
Competitive Landscape
Key players operating in the Business Software Industry are –
• SAP SE • Microsoft Corporation • Oracle Corporation • Rockwell Automation Inc. • Honeywell International Inc. • Aventri Inc. • Sage Group, plc • NetSuite, Inc. • International Business Machines Corporation • General Electric Co.
Grand View Research’s Business Software industry data book is a collection of market sizing information & forecasts, regulatory data, competitive benchmarking analyses, macro-environmental analyses, and technological framework studies. Within the purview of the database, all such information is systematically analyzed and provided in the form of presentations and detailed outlook reports on individual areas of research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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Phone: 1-415-349-0058
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Email: sales@grandviewresearch.com
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