|By Business Wire||
|March 14, 2014 11:23 AM EDT||
Research and Markets (http://www.researchandmarkets.com/research/396hn3/global_software) has announced the addition of the "Global Software Industry 2012-2017: Trends, Profits and Forecast Analysis" report to their offering.
Even in the face of worldwide recession, the global software industry experienced solid growth over the last five years. The industry is expected to continue its momentum to reach approximately $406.6 billion in 2017 with a CAGR of 7.1% over next five years (2012-2017).
The global software industry is consolidated, comprising the segments of infrastructure software and application software. Infrastructure software includes operating system and database management system software, while application software consists of enterprise resource planning and business intelligence. North America dominates this industry and represents the largest percentage of the global market share. A combination of factors such as IT spending, technological innovations, and economic growth influence industry dynamics significantly.
This research indicates that the industry declined in 2009, influenced by the global financial crisis, which affected the manufacturing and financial services sectors adversely and forced enterprises to scale back on their IT expenditures. The global economy is expected to stabilize and grow at a steady pace through the forecast period mostly driven by emerging economies such as India, China, and Brazil. New emerging markets and additional enterprises are likely to invest in software to build IT infrastructure that will help reduce costs and improve business productivity.
As the study indicates, economic crisis, currency fluctuations, and software piracy are the biggest challenges for the industry. Economic growth and new emerging markets, cloud computing, and increasing demand from small and medium enterprises are anticipated to boost the industry. Asia Pacific and the Rest of the World emerged as the fastest-growing regions during the last five years, led by economic growth and expanded IT spending.
For more information visit http://www.researchandmarkets.com/research/396hn3/global_software
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