Market Overview:

The Independent Software Vendors market industry is projected to grow from USD 289.8 Billion in 2023 to USD 910.7 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 13.6% during the forecast period (2023 - 2032).

An independent software vendor is a company or individual that develops and sells user-facing consumer or commercial software. The company's main purpose, known as the software vendor, is to sell its software. By developing, delivering, and pushing new technologies and solutions, independent software suppliers have become one of the most important demands in the IT industry. ISV-developed software may be used with any backend platform, including Windows and Linux. Several ISVs are experts in developing apps for a particular industrial area.

This is distinct from proprietary or bespoke software created for internal use or altered for a third party. As cloud computing becomes increasingly popular, independent software companies are preparing to offer software that works on virtual appliances and infrastructure and moving toward cloud delivery. The world economies have suffered due to the spread of the coronavirus pandemic. Government-imposed lockdowns have had an impact on how many industries do business. However, the epidemic created possibilities to embrace cutting-edge technologies for running commercial operations smoothly and economically.

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Key Players:

Key Companies in the Independent Software Vendors market include,

• Hewlett Packard Enterprise Development LP
• IBM Corporation
• Oracle Corporation
• Cisco Systems, Inc.
• Salesforce.Com, Inc.
• Apple Inc
• SAP SE
• Carbonite, Inc
• Micro Focus
• Servicenow
• Mocana
• Google LLC
• Microsoft Corporation
• Compuware
• Symantec Corporation
• Dell Inc.

Independent vendor software is widely used because it is adaptable and may be created to meet the users' needs. By switching to cloud-based solutions, users have greater flexibility, enabling them to quickly step up and down in response to demand. The need for software in a pandemic crisis is anticipated to expand with the rising usage of cutting-edge technology.

Market Segmentation:

The global market has been divided into types, applications and regional basis. The type section has divided the global market into two sections: cloud and on-premise. As per the application part, the market has been divided into seven sections e-commerce, retail, logistics, healthcare, financial, education and others. On a regional basis, the market has been divided into five sections Asia-Pacific, North America, South America, Europe and Middle East Africa.

By Type:

• On-premise
• Cloud

By Application:

• Education
• Financial
• Healthcare
• Logistics
• Retail
• E-commerce

Regional Analysis:

Over the past few years, cloud computing has advanced significantly. At the same time, cloud solutions provide many benefits but expose hosted data to considerable threats, including identity theft and privacy concerns. When embracing cloud computing, businesses should consider implementing IT services that can examine all network connections, apps, and executions. IT services have improved for the company by becoming more data-driven and real-time due to developments in IT operations throughout the cloud-based platform, particularly in operational efficiency, business opportunity identification, and remote access optimization.

The United States is one of the world's main IT marketplaces, and the market for IT services worldwide is growing considerably. One of the main reasons influencing the demand for IT services in the United States is the expanding use of smart technologies and rising security investments. The region's businesses are increasingly adopting emerging technologies like AI, IoT, machine learning, blockchain, robots, and data science because they want to acquire a competitive edge.

Industrial News:

In February 2022, Cisco will work with international partners to help businesses take advantage of the potential of private 5G. It lessens the technical, financial, and operational risks of managing enterprise private 5G networks for business clients. Cisco collaborated closely with two top ORAN providers to include ORAN technology into Cisco Private 5G, which is presently undergoing client trials with Airspan and JMA

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Independent Software Vendors (ISVs) Industry Developments:

January 2023: Microsoft announces the acquisition of GitHub, a popular code hosting platform. This acquisition is seen as a major move by Microsoft to expand its reach into the open source software community.

February 2023: Salesforce acquires MuleSoft, a leading provider of integration software. This acquisition is seen as a way for Salesforce to expand its capabilities in the integration market.

March 2023: Google announces the launch of its new cloud-based AI platform, Vertex AI. This platform is designed to help ISVs build and deploy AI-powered applications more easily.

April 2023: Amazon Web Services (AWS) announces the launch of its new machine learning service, Amazon SageMaker Canvas. This service is designed to help ISVs build and deploy machine learning models without having to have any prior machine learning experience.

May 2023: Adobe announces the launch of its new subscription-based software model. This model is seen as a way for Adobe to generate more recurring revenue and compete with other cloud-based software providers.

June 2023: SAP announces the launch of its new cloud-based ERP platform, SAP S/4HANA Cloud. This platform is designed to help ISVs build and deploy ERP applications more easily.

July 2023: Oracle announces the launch of its new cloud-based CRM platform, Oracle Cloud CRM. This platform is designed to help ISVs build and deploy CRM applications more easily.

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