The Independent Software Vendors (ISVs) Market Growth 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.
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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 (ISVs) Market Growth is expected to witness gains of USD 408.15 MN by 2026, registering a phenomenal CAGR during the review period (2020-206). In 2019, the market stood at 202.85 MN.
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 (ISVs) Market Growth – Geographical Analysis
North America dominates the global Independent Software Vendors (ISVs) Market Growth. 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 (ISVs) Market Growth – 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 R&D for the development of required technologies and expansion.
Major Players:
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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Industry/Innovation/Related News:
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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