Business Software Industry | Forecast 2030
Business Software Industry Data Book – Event Management Software, ERP Software and Quality Management Software Market
The global market for business software was estimated at USD 71.11 billion in 2022 and is anticipated to increase at a CAGR of 11.3% from 2023 to 2030.
Grand View Research’s business software industry database is a collection of market sizing information & forecasts, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, all such information is systematically analyzed and provided in the form of presentations and detailed outlook reports on individual areas of research.
Event Management Software Market Insights
The global event management software market size was estimated at USD 6.97 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 12.5% from 2023 to 2030. With the proliferation of technology, event management software has strong data-handling attributes. It enables event managers to gather and evaluate data on participant population demographics, opinions, and behavior. The data gathered can assist event organizers in making informed choices, enhancing future events, and customizing the overall experience to the needs of participants. These factors are driving the market growth. Event management has grown in importance globally as the range of worldwide conferences, exhibits, and cultural events has increased. Cultural variations, communication hurdles, and foreign logistics are all managed by event organizers.
the global event management software market based on component, deployment, enterprise size, application, and region: The software segment accounted for the largest market share of 65.4% in 2022. The segment growth is attributed to a wide range of tools and capabilities to manage numerous components of event planning. It consists of event selection, financial management, conference scheduling, logistical management, vendor management, and monitoring of tasks. The rise of hybrid and virtual events has resulted in the creation of software solutions designed solely for handling these types of events. For instance, virtual exhibitor booths, chat functionality, live broadcasting, and content distribution are all accessible via virtual event platforms. Event organizers can utilize these platforms to create influencing and engaging digital journeys for visitors.
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ERP Software Market Insights
The global ERP software market size was valued at USD 54.76 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 11.0% from 2023 to 2030. The growing need for operational efficiency and transparency in business processes, the increase in demand for data-driven decisions, and the rise in mobile and cloud applications adoption are key factors propelling the ERP software market growth. However, the growing availability of open-source applications and higher initial investment and maintenance costs are poised to restrain the market growth. An increase in demand for cloud-based ERP solutions since the COVID-19 pandemic, especially from small and medium-sized businesses, is further anticipated to offer numerous opportunities for the stakeholders in this market in the forecast period.
the enterprise resource planning market report based on deployment, function, enterprise size, vertical, and region. The finance segment held the largest share of over 25.0% of the market share in 2022. The ERP software provides ease in managing various financial activities, including accounting, investments, assets, and cash flow management. Thus, the growing adoption of ERP in the financial function is expected to augment the demand in the forecast period.
Quality Management Software Market Insights
The global quality management software market size was valued at USD 9.37 billion in 2022 and is expected to record a compound annual growth Rate (CAGR) of 10.6% from 2023 to 2030. The growing need for standardized manufacturer procedures across various industries and stringent procedure parameters by regulatory authorities is a major factor in the market growth. Growing consumer awareness of product and service quality is another factor for market growth. Using quality management software to supervise product development, resource planning, and tracking the manufacturing process through automation provides flexibility for non-conformance issues and document control. These advantages allow an organization to streamline operations and improve total quality management while improving its lead time. Additionally, the integration of quality management software in e-commerce, retail, and consumer goods segment for providing quality products and services at affordable prices is, in turn, driving the market growth.
the global quality management software market report based on solution, deployment, enterprise size, end-use, and region. The complaint-handling segment held the largest market share of over 15% in 2022. Effective management of complaints helps in meeting customer expectations. The adoption of standard complaint-handling tools and processes helps businesses in handling customer complaints more effectively and efficiently. This ultimately enables businesses to remain successful in the long run.
Go through the table of content of Business Software Industry Data Book to get a better understanding of the Coverage & Scope of the study
Business Software Indsutry, By Type
- Event Management Software
- ERP Software
- Quality Management Software
Business Software Indsutry, By Deployment
Business Software Indsutry, By Enterprise Size
- Large Enterprise
- Small & Medium Enterprise
Business Software Indsutry, By End-use
- Aerospace & Defense
Business Software Indsutry, By Region
- North America
- South Korea
- Latin America
- Saudi Arabia
- South Africa
The market is competitive with the presence of major players such as SAP SE; Microsoft Corporation; Oracle Corporation; Rockwell Automation Inc.; Honeywell International Inc.; Aventri Inc.; Sage Group, plc; NetSuite, Inc.; International Business Machines Corporation; and General Electric Co. Companies are adopting various growth strategies, such as mergers & acquisitions, partnerships, and new product launches to maintain their position in the competitive market. For instance, in June 2022, Epicor, an ERP software provider, acquired Data Interchange, a UK-based Electronic Data Interchange (EDI) provider that manages services and cloud technologies. With the addition of Data Interchange to the company’s B2B integration technologies portfolio, Epicor’s reach in European markets is increased. This allows customers to connect with business and trading partners, improve productivity, and add value to the supply chain.
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