The global Office Software Market size is expected to reach USD 37.4 billion by 2028, registering a CAGR of 6.9% during the forecast period, as per a new report by Grand View Research, Inc. The growing demand for business software to manage activities and workflow, coupled with the rapid breakthroughs in the fields of Machine Learning (ML) and Artificial Intelligence (AI), are driving the market expansion. In addition, the increased use of cloud computing in corporate operations, as well as utilization of enterprise mobility, smartphones, and Bring Your Own Device (BYOD) to extend the mobile workforce, will further drive the demand for office software solutions.
Office
software and solutions have gained considerable attention in recent years
because of their promise to boost productivity, while also lowering expenses.
Since the market for these solutions is closely tied to the requirement for
process automation in many industries, the greater the global demand for
process automation, the greater will be the demand for office software
solutions. These considerations enable businesses and providers to concentrate
on joining the office software industry since their core expertise contributes
to overall business success.
The
COVID-19 pandemic impacted the global office software and solutions space in
enterprises of all sizes. However, the growing adoption of
"work-from-home" policies by many enterprises throughout the world,
as well as the need to manage their teams remotely, has increased the necessity
for remote work management.
The
requirement for digitization has skyrocketed as a result of remote job
management. During the spread of COVID-19, small and medium-sized, as well as
large enterprises have been implementing new business strategies to increase
productivity. Furthermore, work-from-home norms have prompted service providers
to guarantee that mission-critical corporate employees have the tools and
technology they need to improve the speed, security, quality, and overall
efficacy of services supplied, supporting market growth.
North
America dominated the global market for office software in 2021. The digital
transformation across various end-users in the region leads to the adoption of
office software solutions. The early adoption of technological breakthroughs
has contributed significantly to the regional market growth. Additionally,
modern IT infrastructure and the availability of technical skills have further
contributed to the growth of the market.
Due
to the growing number of enterprises adopting office software and solutions,
Asia Pacific is likely to exhibit the highest CAGR during the forecast period
and substantially contribute to the global market for office software. The
growing need for enterprises to track and manage business operations more
efficiently is projected to drive the adoption of office software in the area.
Request a free sample copy or view report
summary: Office Software Market Report
Office
Software Market Report Highlights
- North America
accounted for the largest revenue share of over 45% in 2021, in the global
market for office software. The growing demand among SMEs, regional
technical sustainability, and the presence of numerous market players are
contributing to the growth of the regional market
- The cloud
deployment segment dominated the market with the highest revenue share of
over 61% in 2021. The current competitive landscape, as well as global
economic conditions, have accelerated the adoption of cost-effective
business model restructuring processes
- In terms of
software type, the spreadsheet software segment captured the largest
market share in 2021, of more than 41%. The greater usage of many
spreadsheet solutions among organizations to model and manipulate data
sets, produce graphical representations, and influence future planning and
decision-making have contributed to the growth of the segment
- Asia Pacific
is projected to witness a CAGR of 7.7% from 2022 to 2028. Adoption of
office software in healthcare, IT & telecom, and BFSI domains is
likely to drive substantial industry growth in the region
Office
Software Market Segmentation
Grand
View Research has segmented the global office software market on the basis of
deployment, type, and region:
Deployment
Outlook (Revenue, USD Billion, 2017 - 2028)
- Cloud
- On-premises
Type
Outlook (Revenue, USD Billion, 2017 - 2028)
- Spreadsheet
Software
- Word
Processing Software
- Visualization
Software
- Presentation
Software
- Others
Regional
Outlook (Revenue, USD Billion, 2017 -2028)
- North America
- U.S.
- Canada
- Europe
- The U.K.
- Germany
- France
- Asia Pacific
- China
- India
- Japan
- Central &
South America
- Brazil
- Argentina
- Middle East
& Africa
- GCC
- South Africa
List
of Key Players in the Office Software Market
- Microsoft
Corporation
- Google LLC
- Oracle
Corporation
- Salesforce.com,
Inc.
- VMWARE, INC.
- Symantec
Corporation
- Dell EMC
- Hewlett
Packard Co. (HP Inc.)
- International
Business Machines Corp.
- Citrix
Systems Inc.
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com