Independent Software Vendors (ISVs) Market Valuation is Expected to Escalate Further From USD 202.85 Million In 2019 To USD 408.15 Million By 2026

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Pune, India, May 27, 2021 (GLOBE NEWSWIRE) —

Market Analysis
Spurring rise in cloud-based software as a service (SaaS) offerings can further escalate the independent software vendors market share during the forecast period. Market Research Future (MRFR), in its independent software vendors market analysis, asserts that the market valuation is expected to escalate further from USD 202.85 million in 2019 to USD 408.15 million by 2026, growing at a steady CAGR during the review period (2020-2026).
The COVID-19 pandemic significantly disrupted operations in the ISVs market, which further encouraged independent software vendors to take on innovative steps to stay afloat in the market. While the period was challenging, it also offered immense opportunities to ISVs, who innovated and adapted their offerings to meet new customer requirements.

The first initiative taken by ISVs was conducting webinars and forming forums for addressing COVID-19 grievances that can affect clients, which boosted the market demand considerably. Another trend that significantly accelerated was the use of augmented or assisted reality (AR). AR capabilities have been used more extensively as ISVs, and their customers evolve to new ways of conducting business.

This technology is increasingly being adopted to support remote assistance in field service and provide guidance for hands-free manufacturing operations. ISVs enabled AR in their applications to meet the needs of customers increasingly demanding support for the technology.

Moreover, industry-leading cloud and product engineering skills were central to these companies in ramping up their sales during and the post-pandemic era. They are confident that these skills would enable them to add immense value to their clients across key markets as they build agile and resilient businesses for the post-pandemic world.

Overview
The demand for value-added services (VAS) and support for solutions and management of services drive the independent software vendors market growth. The COVID-19 disruptions have led to changes in the design and development of services to be contactless. Besides, the use of the data gathered from VAS can lead to scalable and robust software and applications that would increase the independent software vendors market size.

Customized solutions support from the OEMs can navigate the success of ISVs in the coming years. This support culminates in reduced ownership of costs and capital costs while keeping efficiency high. Moreover, the changing telecommunication landscape and ability to serve changing customer demands can influence independent software vendors market value over the forecast period.

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Market Segmentation 
The independent software vendors market forecast is segmented into type, application, and regions. The type segment is sub-segmented into on-cloud and on-premise. Of these, the on-cloud segment holds the largest market share. The cloud technology rules due to the benefits of the cloud. The segment market growth can also attribute to the rising need for businesses to scale their services without getting affected by any hurdles.

The application segment is sub-segmented into e-commerce, logistics, retail, healthcare, financial, education, and others. Among these, the e-commerce segment creates significant market value. The e-commerce application benefits the most from independent software vendors due to the surge in online shopping.

Changing customer habits and the convenience of home delivery is a significant factor that drives the demand for ISVs in eCommerce. Besides, the provision of storage options and seamless customer experience for mobile application users offers vast opportunities for ISVs in the eCommerce sector.

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Regional Analysis
The regional segment is bifurcated into the Asia Pacific (China, Japan, India, South Korea, and Rest-of-the-APAC), the Americas (Canada, Mexico, US, Rest-of-North America), and South America, Europe (the UK, Germany, France, Italy, and Rest-of-Europe), and Rest-of-the-World.

It is observed that North America has been consistently dominating the global independent software vendors market and is estimated to maintain its market position in the coming years as well. The presence of a large number of ISVs and ease of business index in countries of the US and Canada drives the growth of the region’s market.

Besides, increased independent software vendors market demand across industry verticals and Internet connectivity with high reliability in this region is estimated to boost the market growth. Proliferation of digital payments and virtualization of infrastructure offers vast opportunities for market growth.

Moreover, investments for leveraging on the latest technologies such as augmented or assisted reality (AR), artificial intelligence (AI), big data, and machine learning can spur the independent software vendors market opportunities.

Europe holds the second-best position globally in terms of the independent software vendors market revenue. The increasing digitalization and automation across the region influence the market growth. Additionally, the increasing uptake of SaaS platforms in government organizations and commercial sectors creates substantial market demand. Also, increasing uses of cloud-based technologies piracy induce market expansion of independent software vendors.

The Asia Pacific region witnessed a spurring rise in the independent software vendors market value. Factors providing impetus to market growth include the move to electric mobility and adoption of the latest communication networking technologies requiring software licenses at nominal rates. Furthermore, rising consumer awareness and adoption of cloud computing, alongside the rapidly growing economies of India and China, could act as a major driving force for the ISVs market.

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Competitive Landscape 
The independent software vendors market is expected to witness significant strategic approaches, such as expansion, collaboration, mergers & acquisitions, and advanced technologies integration. Leading industry players are making strategic investments in driving research and development activities and fostering their expansion plans.

For instance, on Feb.01, 2021, Vection Technologies, an independent software vendor (ISV), announced a strategic partnership with multinational IT Company HP to co-create a range of groundbreaking virtual reality (VR) solutions. The duo has signed an OEM deal to design and launch a line of VR-integrated solutions that would combine HP’s hardware and Vection’s software.

Notable Players Operating In The Global Independent Software Vendors Market Include:

  • Double-Take Software (US)
  • Google Inc. (US)
  • RSA Security LLC (US)
  • Odyssey Software (US)
  • Mocana (US)
  • Oracle Corporation (US)
  • ServiceNow (US)
  • LP (US)
  • Compuware Corporation (US)
  • HP Development Company (US)
  • COM Inc. (US)
  • SAP SE (Germany)
  • Cisco Systems Inc. (US)
  • Apple Inc. (US)
  • Microsoft Corporation (US)
  • Micro Focus (US)
  • Yahoo! (US)
  • IBM Corporation (US)
  • Nutanix (US)

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Industry Trends
Independent software vendors are redefining the global technology landscape, helping organizations improve agility, accelerate innovation and boost productivity. Many are running their cloud-based software as a service (SaaS) offerings on platforms that have been able to significantly improve application performance and unlock more value for their customers.

In addition to performance, another factor driving the independent software vendors market demand is the comprehensive pricing structure. With advances in technologies and growing digitization, there is a need to have an ISV partner incorporated into every business system.

Deployment of secure accounts for clients to access, store, and manage their data can be a plus for vendors. These factors are cumulatively projected to increase the independent software vendors market size during the upcoming period.

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