software industry

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Global Software Industry

The world software market exceeded $265 billion in 2010, according to MarketLine. Market growth is expected to exceed 6% yearly between 2010 and 2015, bringing the market to almost $357 billion. Home use and general business applications lead the market at almost $64 billion, accounting for around a quarter of the overall market, which encompasses systems and application software. The former includes network and database management, operating systems and other systems software, while the latter involves application software for office and home, and vertical applications. The software market is extremely globalized, with expansion proving fastest in developing markets. Over the past twenty years there has been extensive consolidation within the software industry. Revenue recognition is a significant challenge for the industry.

Key Market Segments The world enterprise social software industry is expected to record yearly growth of almost 18% between 2010 and 2014, reports TechNavio. Collaboration through enterprise social software and rising productivity are two factors fuelling market growth. The adoption of social software in the workforce and security sector may prove an obstacle to market growth. TechNavio estimates the world global 3D animation software market will exceed 17% early growth between 2010 and 2014. The entertainment industry’s adoption of 3D animation is driving market expansion. Obstacles to market expansion include a lack of open source software. Key players operating in this market include MAXON Computer, Side Effects Software, Electric Image and Autodesk. The global content management software market is expected to reach almost $13 billion by 2017, according toGlobal Industry Analysts. Market growth is driven by the shift towards content digitization and information retention regulations. Enterprise software budgets have expanded due to a trend towards using the web to build client relations

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