Financial Services Applications Spur Revenues in Independent Software Vendors (ISVs) Market; Estimated to Spawns Whopping Revenues of US$ 4,077.72 Bn by 2027, Projects TMR

-  Players in independent software vendors (ISV's) market focus on the troika of fail-safe, scalable, and cost-effective for developing products; cloud-based offering underpins vast avenue for growth.

-  Vast business proposition of enterprise solutions keeps North America market lucrative for ISV's; data security concerns in cloud key pain points for customers which ISV's trying to address.

ALBANY, New York, July 9, 2020 /PRNewswire/ -- Independent Software Vendors (ISVs) are keen on distributing software products that are expected to be fail-safe, scalable, and improve end-use experiences, independent of the hardware offering. Innovation in digital space is key to multiplying revenue generation in ISVs market.

Innovative offerings by ISVs, notably financial services-ready platforms on cloud model, are expected to disrupt the landscape in near future. Globally, the independent software vendors (ISVs) market stood at ~US$ 1,573.29 Bn in 2019, and is projected to touch ~US$ 4,077.72 Bn by 2027. This represents compound annual growth rate of ~13% from 2019 to 2027.

Companies are launching ISV partner programs to expand access to software solutions for customers, affirm analysts at TMR. They further concede that switching to cloud will endow end-use businesses increased flexibility and low operating cost, hence higher scalability.

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Key Findings of Independent Software Vendors (ISVs) Market Report

• On the two major types of deployment, cloud led in 2018; the segment likely to retain dominance, at least till 2027
• Of the various applications; financial services led in 2018 and will continue to lead over 2019 – 2027
• Asia Pacific expected to be the leading regional market during 2019 – 2027; India expected to be highly lucrative
• North America and Europe projected to see rapid growth in revenues
• The market company landscape is primarily fragmented

Explore 336 pages of granular assessment, evidence-based insights, and detailed country-level projections. Gain business intelligence on Independent Software Vendors (ISVs) Market (Software Deployment: Cloud and On-premise; Application: Financial Services, Healthcare, Industrial & Manufacturing, Public Sector & Utilities, Retail, Service Providers, Telecom, Media & Entertainment, Education, and Others [Hospitality, Transportation, etc.]) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 - 2027 at https://www.transparencymarketresearch.com/independent-software-vendors-market.html

Independent Software Vendors (ISVs) Market: Driving Factors and Promising Avenues

Changing preferences in the software sector and the associated vendor landscape shape the growth dynamics in the independent software vendors (ISVs) market. A few of the more striking ones are worth taking note of:

• Strides in digital initiatives by healthcare and financial services industries drive demand for cost-effective and scalable software solutions, thereby boosting ISVs market.
• Industrial and manufacturing sectors have emerged as prominent end users in the ISVs market, as they demand fail-safe software.
• Focus on reducing the operating cost has led to building demand in various cloud models—public as well as hybrid clouds.
• The demand for dedicated software solutions that will boost operational gains in various industries has broadened the revenue prospect in independent software vendors market.
• Software as a Service (SaaS) cloud model has piqued the curiosity of enterprise consumers, mainly because of popularity of scalable solutions.

Analyze Independent Software Vendors (ISVs) Market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study

Key Impediments for Independent Software Vendors (ISVs) Market Players

The dichotomy of services versus solutions has intrigued end use industries in the independent software vendors (ISVs) market. For long, the manufacturing industries have relied on outsourcing of services for getting access to cutting-edge software such as 3D. However, at times, these have been found to fall short of quality, hence spurring ISVs vendors to work toward meet their client's expectations.

Another genuine concern is data thefts and lack of security. These are also the key pain points for consumers which have dampened the uptake of cloud-based solutions. Aspiring players are also looking for improving the functionality of multi-cloud and hybrid cloud as well as addressing data privacy concerns in them.

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Independent Software Vendors (ISVs) Market: Competitive Landscape

Some of the top players in the independent software vendors market are Microsoft Corporation, Oracle Corporation, ASG Technologies Group, Inc., Apple Inc., and Google LLC. Several of these are leaning on offering collaborative solutions, including enterprise suites and mainly web conferencing technology.

Further, multinational businesses in end-use industries are getting into collaborations and inking partnership deals with ISVs. A prominent trend is in the healthcare and financial services industry.

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The independent software vendors (ISVs) market can be segmented based on:

Software Deployment

• Cloud
• On-premise

Application

• Financial Services
• Healthcare
• Industrial & Manufacturing
• Public Sector & Utilities
• Retail
• Service Providers
• Telecom
• Media & Entertainment
• Education
• Others (Hospitality, Transportation, etc.)

Region

• North America
• Europe
• Asia Pacific
• Middle East & Africa
• South America

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