Software product companies develop, market and distribute software products for commercial and personal use. Publishers are usually sold in the form of licenses to use the software for a specified period or permanently. The license generally entitles the buyer to receive updates of the programs. Companies in this industry create and distribute computer software by designing software, providing documentation, assisting in installation and providing support services to software purchasers. Some businesses design, develop and publish; others only publish. Software publishers includes operating systems & productivity software publishing, database, storage & backup software publishing, business analytics & enterprise software, video game software and design, editing and rendering software.
The market was valued $350 billion in 2017, owing to the technological advancements in developing countries. Building of smart cities accelerates the demand for high technology equipped products. Asia Pacific was the largest region in the software products market in 2017, accounting for two-fifth share of the market.
The software product market in The Business Research Company’s report is split into five segments: operating systems & productivity software publishing, business analytics & enterprise software, database, storage & backup software publishing, video game software, design, editing & rendering software.
The top five competitors in the market are Microsoft, HP Inc, Oracle, Dell Technologies, and IBM. Microsoft was the largest player in software product market in 2017, with revenues of $90 billion. Microsoft Corporation develops, licenses, and supports software products, services, and devices worldwide. It operates into productivity and business processes segment, dynamics business solutions, personal computing segment and intelligent cloud segment. It is headquartered in Redmond, Washington.
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