Global Business Software And Services Market Size & Outlook
Global business software and services market, 2018-2030 (US$M)
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Global business software and services market highlights
- The global business software and services market generated a revenue of USD 525.8 million in 2023 and is expected to reach USD 1,153.7 million by 2030.
- The market is expected to grow at a CAGR (2024 - 2030) of 11.9% by 2030.
- In terms of segment, software accounted for a revenue of USD 367.9 million in 2023.
- Services is the most lucrative solution segment registering the fastest growth during the forecast period.
- In terms of region, North America was the largest revenue generating market in 2023.
- Country-wise, U.S. is expected to register the highest CAGR from 2024 to 2030.
Global data book summary
| Market revenue in 2023 | USD 525.8 million |
| Market revenue in 2030 | USD 1,153.7 million |
| Growth rate | 11.9% (CAGR from 2023 to 2030) |
| Largest segment | Software |
| Fastest growing segment | Services |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Software, Services |
Other key industry trends
- In terms of revenue, the North America accounted for 31.0% of the global business software and services market in 2023.
- By country, the U.S. is projected to lead the global market in terms of revenue in 2030.
- By country, U.S. is the fastest growing regional market and is projected to reach USD 278.2 million by 2030.
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Business Software And Services Market Scope
Business Software And Services Market Companies
| Name | Profile | # Employees | HQ | Website |
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Global business software and services market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to business software and services market will help companies and investors design strategic landscapes.
Software was the largest segment with a revenue share of 69.97% in 2023. Horizon Databook has segmented the Global business software and services market based on software, services covering the revenue growth of each sub-segment from 2018 to 2030.
Business software and services are being increasingly used in end use industries as it they help streamline business processes. Business software solutions assist large enterprises in providing easy and quick access to unstructured data that is gathered through data analytics practices and achieving company's data security goals.
Numerous businesses are turning to business software and services to increase operational efficiency by integrating administrative systems into a single program. Business software modules link departmental information and data together with real-time updates. This also provides better transparency in business operations.
Business software enables users to connect different areas of businesses into one program. This allows managers to have access to a complete database of critical data, which covers invoices, client information, and orders. This software is widely adopted as the information is accurately stored and will not get lost across other spreadsheets and applications.
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Horizon Databook provides a detailed overview of global-level data and insights on the Global business software and services market , including forecasts for subscribers. This global databook contains high-level insights into Global business software and services market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Global business software and services market size, by regions, 2018-2030 (US$M)
Top 10 countries: Business software and services market size, 2023 (US$M)
Global business software and services market share, by solution, 2023 & 2030 (%, US$M)
Business software and services market: Opportunity assessment by country
Global business software and services market, by region, 2023 (US$M)
| Solution | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | 2029 | 2030 | CAGR |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| North America | 103.0 | 112.2 | 122.9 | 134.6 | 147.8 | 162.7 | 179.7 | 198.9 | 220.6 | 245.4 | 273.5 | 305.5 | 341.7 | 11.2% |
| Europe | 82.4 | 90.1 | 98.9 | 108.6 | 119.6 | 132.1 | 146.2 | 162.4 | 180.7 | 201.6 | 225.4 | 252.5 | 283.4 | 11.5% |
| Asia Pacific | 65.4 | 72.4 | 80.5 | 89.5 | 99.8 | 111.5 | 125.0 | 140.4 | 158.2 | 178.6 | 202.1 | 229.0 | 260.1 | 12.9% |
| Latin America | 31.3 | 34.5 | 38.2 | 42.3 | 46.9 | 52.3 | 58.4 | 65.3 | 73.3 | 82.4 | 92.9 | 104.9 | 118.7 | 12.4% |
| MEA | 40.8 | 44.8 | 49.5 | 54.6 | 60.5 | 67.2 | 74.8 | 83.5 | 93.5 | 104.9 | 117.9 | 132.8 | 149.9 | 12.1% |
| Overall | 322.9 | 353.9 | 389.9 | 429.6 | 474.7 | 525.8 | 584.0 | 650.5 | 726.3 | 812.9 | 911.8 | 1,024.8 | 1,153.7 | 11.9% |
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