Report ID: SQMIG45E2191
Report ID:
SQMIG45E2191 |
Region:
Global |
Published Date: September, 2024
Pages:
157
|
Tables:
87 |
Figures:
76
Software Market size was valued at USD 640.81 Billion in 2023 and is poised to grow from USD 673.04 Billion in 2024 to USD 996.68 Billion by 2032, growing at a CAGR of 5.03% during the forecast period (2025-2032).
Software is a name that needs no introduction in the world that just keeps on becoming more and more digital. Apps, scripts, and programs that run on a device are referred to as software. Rapidly increasing digitization and growing investments in the development of novel software are projected to create new opportunities for software companies. Rising popularity of Software as a Service (SaaS) trend is also estimated to bolster software market development in the future. High sales of consumer electronics and increasing reliance on applications will also favor the demand for software on a global level. Rising use of data analytics around the world will surely offer some lucrative growth for companies developing data analytics software in the future. On the contrary, high complexity of development and increasing risk of data security breaches are slated to hamper software market growth.
US Software Market is poised to grow at a sustainable CAGR for the next forecast year.
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Report ID: SQMIG45E2191