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Yahoo
15-05-2025
- Business
- Yahoo
Business Software and Services Market to Reach USD 1343.11 Billion by 2032 Driven by Accelerated Digital Transformation Globally
The rapid adoption of automation, cloud-based platforms, and AI-driven business optimization tools is driving market expansion. Pune, May 15, 2025 (GLOBE NEWSWIRE) -- Business Software and Services Market Size Analysis: 'According to the SNS Insider report, the Business Software and Services Market size was valued at USD 529.39 billion in 2023 and is estimated to reach USD 1343.11 billion by 2032, growing at a compound annual growth rate of 11.02% during the forecast period from 2024 to 2032.'Get a Sample Report of Business Software and Services Market@ Major Players Analysis Listed in this Report are: IBM Corporation – (IBM Cloud Pak, IBM Watson Analytics) Infor – (Infor CloudSuite, Infor M3) SAP SE – (SAP S/4HANA, SAP Business One) Microsoft – (Microsoft Dynamics 365, Microsoft Power BI) NetSuite Inc. – (NetSuite ERP, NetSuite CRM+) Epicor Software Corporation – (Epicor Kinetic, Epicor Prophet 21) Unit4 – (Unit4 ERP, Unit4 Financial Planning & Analysis) MicroStrategy Incorporated – (MicroStrategy HyperIntelligence, MicroStrategy Analytics) SYSPRO – (SYSPRO ERP, SYSPRO CRM) Deltek, Inc. – (Deltek Costpoint, Deltek Vantagepoint) Acumatica, Inc. – (Acumatica Cloud ERP, Acumatica Financial Management) Oracle – (Oracle Fusion Cloud ERP, Oracle NetSuite SuiteCommerce) Business Software and Services Market Report Scope: Report Attributes Details Market Size in 2023 US$ 529.39 Billion Market Size by 2032 US$ 1343.11 Billion CAGR CAGR of 11.02% From 2024 to 2032 Base Year 2023 Forecast Period 2024-2032 Historical Data 2020-2022 Key Regional Coverage North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe [Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]). Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) Key Growth Drivers Increasing Adoption of Cloud-Based and AI-Powered Solutions Enhances Business Software and Services Market Growth Do you have any specific queries or need any customization research on Business Software and Services Market, Make an Enquiry Now@ The U.S. business software and services market was valued at USD 106.32 billion in 2023 and is projected to reach USD 246.14 billion by 2032. Growth is driven by widespread cloud adoption, automation, and digital integration across industries. The market is expected to grow at a CAGR of 9.90% from 2024 to 2032. By Software: Finance Dominates, Sales & Marketing Sees Fastest Growth The finance segment dominated the market and accounted for 24.58% of revenue share in 2023, owing to its importance in budgeting, accounting, risk management, and compliance for the market. Financial software is critical for organizations that depend on it to simplify processes, meet compliance requirements, and allow for an available and real-time analysis of their finances. The sales & marketing segment is expected to register the fastest CAGR from 2024–2032. Growth is driven by the emergence of data-driven marketing, customer relationship management, and AI-enabled campaign analytics. Companies have access to intelligent sales platforms with features such as personalization, lead scoring, and omnichannel to drive revenue and customer loyalty. By Services: Support & Maintenance Leads, Managed Services Expand Rapidly The support & maintenance services segment dominated the market in 2023 and accounted for 41.59% of revenue share, as continuous monitoring, updates, troubleshooting, and system optimization are essential to maintain the software reliability and compliance for business. As it relates to mission-critical operational environments, support services have become an essential service to industries as software upgrades, bug fixes, and cybersecurity threats increase. The managed services segment is expected to record the fastest CAGR during the forecast period. As IT operations are moving towards outsourcing, enterprises are opting for managed service providers to take care of their resourceful deployments, managing of infrastructure, security, and cloud operations. It lowers expenses associated with organic approaches and helps internal teams double down on things they do best. By Deployment: Cloud Leads, On-Premise Grows Fastest In 2023, the cloud segment dominated the market and accounted for 57.89% of revenue share, driven by the scalability, flexibility, and cost efficiency of cloud-based software. For the last several years, enterprises have moved away from the traditional model in favor of SaaS and platform-as-a-service solutions, paving the path for synchronous operations, remote collaboration, and integrations across ecosystems. The on-premise segment is estimated to expand at the fastest CAGR during the period 2024–2032. While the cloud has taken off like a rocket ship, given data sovereignty, compliance and security requirements in government, defense and regulated industries, there is no choice but to choose on premise software. Growing hybrid deployment models are further aiding on-premise adoption as well. By Enterprise Size: Large Enterprises Dominate, SMEs See Rapid Growth The large enterprises segment dominated the market and accounted for 60.59% of revenue share, owing to their huge IT budgets, their global footprint, and the need for an integrated enterprise resource planning, customer management, and analytics platform. They rely on integrated software and services to remain competitive and to support complex workflows. Small and Medium Enterprises are also expected to register the fastest CAGR during the forecast period. Cloud-based software is becoming more affordable, enterprises are offering Software as a Service subscription, and government support towards digitalization programs enables SMEs to obtain sophisticated solutions to streamline operations, enhance customer service, and scale up their business. By End Use: IT & Telecom Dominates, Healthcare Expands Rapidly In 2023, the IT & Telecom segment led the market with high software dependencies, fast-changing technology, and demand for automation and agile development tools. Telecom companies widespread use software for an array of purposes — network management, billing, customer engagement — which makes them a highly significant segment of market growth. From 2024 to 2032, the healthcare segment is anticipated to achieve the fastest CAGR, owing to digital health initiatives, expansion of telemedical services, and rising adoption of electronic health records. As the data volumes are on the rise, the call for secure, compliant and interoperable healthcare software are upto the roof of hospitals, clinics and diagnostic labs. Business Software and Services Market Segmentation: By Software Finance Sales & Marketing Human Resource Supply Chain Others By Services Consulting Managed Services Support & Maintenance By Deployment Cloud On-premise By Enterprise Size Large Enterprises Small & Medium Enterprises By End Use Aerospace & Defense BFSI Government Healthcare IT & Telecom Manufacturing Retail Transportation Others Regional Insights: North America Leads, Asia-Pacific Grows Fastest In 2023, North America dominated the market and held the largest market share, as it is home to key software vendors and has advanced IT infrastructure with significant early adoption of emerging technologies. Software innovation still remains heavily invested in U.S.-based companies there is a clear sense of AI, cloud, and cybersecurity integration. Asia-Pacific is expected to register the fastest CAGR over the study period from 2024 to 2032. The software adoption is driven by various factors such as rapid digitalization across the country, the increase in internet penetration, and the initiatives taken by the government, such as "Digital India" in countries like India, China, Japan, and other Southeast Asian countries. Also, the ongoing number of startups and SMEs within the area is boosting the an Enterprise-User PDF of Business Software and Services Market Analysis & Outlook 2024-2032@ Table of Contents – Major Key Points 1. Introduction 2. Executive Summary 3. Research Methodology 4. Market Dynamics Impact Analysis 5. Statistical Insights and Trends Reporting 6. Competitive Landscape 7. Business Software and Services Market Segmentation, By Software 8. Business Software and Services Market Segmentation, By Services 9. Business Software and Services Market Segmentation, By Deployment 10. Business Software and Services Market Segmentation, By End Use 11. Business Software and Services Market Segmentation, By Enterprise Size 12. Regional Analysis 13. Company Profiles 14. Use Cases and Best Practices 15. Conclusion About Us: SNS Insider is one of the leading market research and consulting agencies that dominates the market research industry globally. Our company's aim is to give clients the knowledge they require in order to function in changing circumstances. In order to give you current, accurate market data, consumer insights, and opinions so that you can make decisions with confidence, we employ a variety of techniques, including surveys, video talks, and focus groups around the world. Related Reports: Customer Experience Business Process Outsourcing Market Business Management Consulting Service Market Business Rules Management System Market Self-Service Business Intelligence Tools Market CONTACT: Contact Us: Jagney Dave - Vice President of Client Engagement Phone: +1-315 636 4242 (US) | +44- 20 3290 5010 (UK)Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Morocco World
23-04-2025
- Business
- Morocco World
Société Générale Maroc Transforms Banking Infrastructure with IBM, PowerM
Doha – Société Générale Marocaine de Banques has launched a major digital transformation initiative in partnership with IBM and Power Maroc (PowerM). The bank is transitioning from monolithic applications to a microservices-based architecture to enhance operational efficiency, strengthen security measures, and deliver superior digital banking services. As Morocco's digital landscape evolves, customer expectations for seamless and swift banking experiences have risen significantly. Recognizing this shift, Société Générale Maroc determined that modernizing its IT infrastructure was essential to support open banking initiatives and foster innovation. While reliable, the bank's existing systems had limitations in scalability and integration with external services, which hindered rapid deployment of new digital offerings. 'To build a sustainable system, it is essential to strengthen the foundations of infrastructure and platforms, avoiding reliance on fragile structures,' said Adil El Kourri, CIO and COO of the Technology Division at Société Générale Maroc, in a recent statement. 'IBM Cloud Pak, with its resilience and modularity, serves as a cornerstone of this transformation, providing enhanced security, optimized performance, and opportunities for innovation, particularly in artificial intelligence,' he added. The transformation process began with a comprehensive analysis of the bank's applications conducted by PowerM and IBM Expert Labs. Initial efforts focused on resolving performance issues and improving security measures. The team implemented upgrades to IBM Guardium and IBM MQ to protect sensitive customer data and ensure high-availability messaging between applications, even during peak periods. Additionally, IBM Instana was deployed to improve infrastructure observability, allowing the IT team to proactively resolve issues. Building on these improvements, Société Générale Maroc is now deploying IBM Cloud Pak for Integration and IBM Cloud Pak for Applications. The bank is also adopting PowerM's containerization platform, rKube, built on IBM Red Hat OpenShift. This integration aims to streamline services, accelerate development, and position the bank at the forefront of Morocco's financial sector. Walid Largou, CTO at Power Maroc, noted, 'At Power Maroc, we view technological solutions within the broader business context. Our collaboration with Société Générale Maroc and IBM is not just about addressing technical challenges but unlocking new business opportunities that drive growth and enhance customer satisfaction.' The transformation aligns with global banking trends that emphasize digitization to reshape operations and drive innovation. According to IBM's 2025 Global Outlook for Banking and Financial Markets, embracing end-to-end digitization is critical for banks to elevate their performance in today's digital-first economies and keep pace with client demands and AI-led innovations. 'We are excited to support Société Générale Maroc in its journey towards a modernized, agile banking infrastructure,' said Mimoun Ouchaou, General Manager and Technology Leader at IBM Morocco. 'By leveraging IBM's advanced technologies and the expertise of Power Maroc, Société Générale Maroc is well-positioned to meet evolving customer expectations and drive innovation in the Moroccan financial sector,' he continued. Through these ongoing modernization efforts, Société Générale Maroc aims to deliver enhanced digital services, foster greater customer engagement, and solidify its position as a leader in Morocco's banking industry. Read also: Saham Group Finalizes Acquisition of Société Générale's Moroccan Subsidiaries Tags: IBMPowerMSociété Générale
