Over the past five years, cloud software solutions have been gaining acceptance from companies across all industries. Cloud is a software delivery method where a vendor hosts a software application in a remote server and customers can access it through the internet. Cloud software solutions are widely used in customer relationship management (CRM), HR/payroll, project management and accounting software systems. For example, Hershey’s implemented IBM analytics SaaS tool to obtain customer insights and boost sales.
THE BUSINESS RESEARCH COMPANY EXPECTS THE SOFTWARE AND BPO SERVICES MARKET TO GROW TO $1 TRILLION BY 2021
Western Europe was the largest region in the software and BPO services market in 2017, accounting for almost two-fifth of the market share.
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According to The Business Research Company’s Consultant, Nitin Gianchandani, there has been exponential growth in the use of AI technology by companies operating in the automobile, e-commerce and manufacturing industries. Since AI can detect human motions it is being used to detect customer satisfaction levels and for voice and face recognition. Many major companies such as Facebook, Google and Airbnb are also open sourcing AI libraries to startups, indicating democratization of AI solutions. For example, leading software companies such as Cap Gemini, IBM, Accenture and TCS are offering AI services to optimize resources and reduce operational expenditures.
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IBM was the largest player in the software and BPO services market in 2017, with revenues of $53.5 billion in 2016. IBM’s growth strategy includes moving from a hardware, software solutions company to an emerging cognitive solutions and cloud platform company. IBM is rapidly expanding business, with clients in 147 countries, including leaders and start-ups in healthcare, financial services, retail, energy, automotive, government and more across Czech Republic, Brazil, South Africa, Australia, South Korea, Egypt and Russia.
Software services include application software programming services, computer program (software) development, computer software support services and web design services. Software service companies’ document, design, create, test and maintain applications, using a planned and structured process. Customers for software services include commercial establishments operating in manufacturing, telecoms, fast moving consumer goods (FMCG) verticals and other industries and government organizations.
Software And BPO Services Global Market Report 2018 is a detailed report giving a unique insight into this market. The report is priced at $4000 for an individual user. To use across your office, the price is $6000 and $8000 if you wish to use across a multinational company.
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