Ang Global Independent Software Vendor (ISVs) Market is expected to show a healthy CAGR of 10.5% to reach USD 408.15 Million during the review period. Independent software vendors develop and sell software products that run on one or more machines or operating systems or cloud platforms. ISVs develop a variety of software applications according to end-user requirements from basic utility or productivity-based applications to enterprise-class business process applications, which include customer relationship management. (CRM), enterprise resource planning (ERP), and automation tools. These ISVs typically specialize in developing applications for a particularly suitable market or businesses such as e-commerce, logistics, retail, healthcare, finance, and education.
The global independent software vendors (ISVs) market is expected to increase due to the highest market value of USD 202.85 Million in 2019. The global market growth is attributed to increased demand for value-added services and OEM support for ISVs solutions development and management. The rapid growth of technology and highly competitive market is expected to drive the independent software vendor (ISV) market to develop, deliver, and maintain innovative software applications. However, the rapidly changing technology landscape is one of the key factors that is expected to hinder the growth of the ISV market in the expected period. These ISVs use advanced technologies to develop software applications with the lowest time to market without compromising on software quality, performance, and security.
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Market Segmentation
The Global Independent Software Vendors (ISVs) Market is classified based on Type and application. In terms of segment type, the global market has been bifurcated into cloud and on-premises. The Application segment classifies the global market into e-commerce, logistics, retail, healthcare, finance, education, and more.
Regional Analysis
The Global Independent Software Vendors (ISVs) Market is spread across seven major geographies, namely, North America, Europe, Southeast Asia, India, China, Japan, and Central and South America.
North America is likely to drive the independent software vendors (ISVs) market, followed by Europe. Additionally, India is a fast growing economy in the market of independent software vendors (ISVs). In addition, increasing digitalization and increasing consumer awareness in the country are some of the factors driving the market growth. Furthermore, businesses in the country plan to use the latest technologies to maximize profits, which will allow them to maintain themselves in a competitive environment. Moreover, the growing demand for cloud computing technology both by large enterprises and small and medium sized enterprises, is also expected to stimulate market advances during the study period.
Top Players
The major players operating in the software vendors (ISVs) market are Microsoft Corporation (US), Cisco Systems, Inc. (US), IBM Corporation (US), HP Development Company, LP (US), Micro Focus (US), Google, Inc. (US), Oracle Corporation (US), Apple Inc. (US), SAP SE (Germany), Salesforce.com, Inc. (US), Nutanix (US), ServiceNow (US), Yahoo! (US), Double-Take Software (US), RSA Security LLC (US), Mocana (US), Odyssey Software (US), and Compuware Corporation (US).
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