Key vendors to spend more on R&D activities and M&As to increase product innovation
Procurement market intelligence analysts have announced the top five leading suppliers for IT software in their latest research report. Among various regions, the Americas were the highest contributor to the IT software market with a share of around 40% in 2016. The US was the largest market for IT software in the region. The growth can be attributed to the strong regulatory environment and most top suppliers belonging to this region.
This category spend intelligence report is based on the synthesis, analysis, and interpretation of information about the global IT software market collected from specialized sources. The analysts have derived insights using a mix of primary and secondary research with an aim to provide a holistic picture of the market.
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Competitive vendor landscape
IT service providers that offer such services ensure that buyers’ infrastructure is secure from external or internal cyber threats such as a virus, hacking, and data theft. An increase in global demand for enterprise applications is coordinated by technological advancements in the supply market that aim to provide cost-effective and scalable applications. Suppliers are continuously modernizing and developing proprietary solutions to retain their market position. However, there has also been an increase in the number of startups that are reinventing the use of software in several applications. The market is also observing collaborations and partnerships among firms and service providers to invent intelligent software solutions such as efficient resource allocation tools.
According to Angad Singh, a procurement specialist at Technavio, “There is an increased demand in the market for IT software solutions as they enable easy management of complex business processes and offer simplified platforms to track several business activities. There is also an increase in demand for cloud-based applications in the form of SaaS, PaaS, and IaaS as firms want to benefit from reduced costs and flexibility.”
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Top five suppliers in the IT software market space
Microsoft
Microsoft is one of the leading technology company that is involved in development, licensing, and providing support for a range of software services, products, and devices. The company designs, manufactures, and sells devices such as tablets, and gaming consoles.
Key services of Microsoft include Window OS, MS Office, Skype, MS Exchange Server, and SQL server, Windows server.
ORACLE
Oracle is a leading vendor in cloud computing, data analytics, and database services. In the database software and technology areas, it had the highest market share in 2015.
Key services of Oracle include Oracle Cloud, Oracle Mobile, Database Software, Content Storage Management, and Virtualization services.
IBM
IBM provides application development and maintenance services to several industries and specializes in process-oriented software development. The company is a worldwide leader in providing end-user computing, infrastructure management services, analytics solutions, and oil and gas-specific software development.
Key services of IBM include application development and maintenance, enterprise resource planning, enterprise and predictive asset management, supply chain management solution, and business analytics and cloud computing.
SAP
SAP is a multinational software firm that specializes in the development of software such as SCM and ERP. It is a dominating market in enterprise application software and has been consistently ranked as a leading service provider by Forbes and ranked 179 by Forbes in 2016.
Key services of SAP include SAP HANA cloud platform, hydrocarbon supply chain, SAP Big Data analytics solution, SAP supply chain management solution, and operational integrity software.
Dell Technologies
Dell Technologies includes Dell, Dell EMC, Pivotal, RSA, SecureWorks, Virtustream, and VMware. Of these companies, Dell EMC, and VMware specializes in IT software. The company serves about 98% of the Fortune 500 companies.
Key services of Dell Technologies include Cloud-native applications, Data security solutions, Agile development, Enterprise mobility management, and Endpoint security.
A more detailed analysis is available in the procurement market intelligence report titled, ‘Global IT Software Market- Procurement Market Intelligence 2017’.
