The Global Independent Software Vendors (ISVs) Market witnesses rapid growth. Factors such as the growing numbers of businesses worldwide and the rapid proliferation of digitization, automation, and the internet, drive the market growth. Besides, businesses increasingly need various end-to-end platforms to quickly operationalize customer life cycle events and serve clients more effectively and at scale create vast market demand.
With the spurring rise in cloud-based software as a service (SaaS) offerings, the market is expected to witness significant demand over the next couple of years. In this regard, Market Research Future (MRFR) states that the global independent software vendors market is expected to witness gains of USD 702.6 Million by 2030, registering a phenomenal CAGR during the review period (2020-2030). In 2020, the market stood at USD 202.85 Million.
An Independent Software Vendor (ISV) is an organization that specializes in creating and selling software applications and services, as opposed to hardware or other products. ISVs often develop applications for specific hardware and operating systems, such as Windows, Mac OS, and Linux. These applications can range from simple utilities, such as anti-virus protection and image editing, to more complex programs such as enterprise resource planning systems and customer relationship management software. ISVs typically offer support, upgrades, and maintenance services for their products, as well as providing training and documentation.
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The rising demand for value-added services (VAS) and support for solutions and management of services push the market revenues. The COVID-19 disruptions have boosted contactless services. Additionally, the use of the data gathered from VAS can lead to a scalable and robust software and applications that would increase the market size.
Global ISVs Market –Segments
The market is segmented into is segmented into types, applications, and regions. The type segment is bifurcated into on-cloud and on-premise. The application segment is bifurcated into e-commerce, retail, logistics, healthcare, education, financial, and others. By region, the market is classified into the Asia Pacific, Americas, Europe, MEA, and rest-of-the-world.
Independent Software Vendors Type Outlook (Revenue, USD Million, 2020 - 2030)
Independent Software Vendors Application Outlook (Revenue, USD Million, 2020 - 2030)
Independent Software Vendors Market – Geographical Analysis
North America dominates the global independent software vendors market. Factors such as the strong presence of major ISVs, ease of business index, and increased demand for independent software vendors drive market growth. Besides, the spurring rise in end-use industries and internet connectivity with high reliability in this region boosts the market size.
The proliferation of digital payments and infrastructure virtualization offers vast growth opportunities to market players. Moreover, investments in developing the latest technologies such as augmented or assisted reality (AR), artificial intelligence (AI), big data, and machine learning accelerate the region’s market shares.
Independent Software Vendors Market – Competitive Analysis
Fiercely competitive, the ISVs market witnesses a large presence of notable players. These players focus on product development and incorporate strategic approaches, such as collaboration, mergers acquisitions, product launch, and expansion to gain a larger competitive share. They make substantial investments to drive RD for the development of required technologies and expansion.
Players leading the global ISVs market include Google Inc. (US), RSA Security LLC (US), Double-Take Software (US), Mocana (US), Oracle Corporation (US), Odyssey Software (US), LP (US), Compuware Corporation (US), ServiceNow (US), com Inc. (US), SAP SE (Germany), HP Development Company (US), Apple Inc. (US), Microsoft Corporation (US), ), Cisco Systems Inc. (US), Yahoo! (US), IBM Corporation (US), Micro Focus (US), and Nutanix (US), among others.
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Oct. 21, 2021 --- RingCentral, Inc., a leading global provider of enterprise solutions, announced its partnerships with three healthcare Independent Software Vendors (ISVs) – ChronicCareIQ, Ascom, and ELLKAY to enhance capabilities of RingCentral Contact Center and RingCentral MVP (Message Video Phone). RingCentral offers cloud communications, video meetings, collaboration, and contact center solutions.
The partnerships would enable providers to transform point of care workflows managed via ruggedized VoIP wireless devices to enhance patient engagement with data-driven interaction during outbound and inbound patient calls.
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Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. MRFR’s approach combines the proprietary information with various data sources to give an extensive understanding to the client about the latest key developments, expected events and also about what action to take based on these aspects.
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