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Packaged software is a set of multiple software programs bundled together to make a complete set and perform a related set of operations in the computer system. For instance, Microsoft Office is packaged software which includes Microsoft Excel, Microsoft Word, and Microsoft Access. Packaged software is available for sale, lease, and license to the general public. The rising demand for smartphones has triggered the demand for packaged software solutions. There has been an increase in the consumer base which uses mobile phones for internet usage rather than computers. Dependency of users on mobile phones for internet usage has increased the demand for packaged software.

During the early years of commercial use of computers, software systems were developed from scratch using different development platforms. These systems were developed uniquely for each organization and had no standardization. Standardization of software products also benefitted software buyers by lowering transaction costs and risks associated with it.

Packaged software industry has continually expanded and forms a major part of the IT services industry. Businesses use office production software like FileMaker Pro whereas many organizations today use a package suite that contains everything employees need to run an efficient business. Computer security has become a major issue since the invention of internet. It is important to install security packaged software to protect personal computers from internet threats like malware and virus attacks.

Increasing IT expenditure in the retail industry is a key factor driving the packaged software market. Retailers across the globe prefer retail mobility solutions, which in turn is triggering the demand for packaged software solutions. The exponential rise in demand for smartphones and tablets is supporting the demand for packaged software. Users are switching from PC to tablets and smartphones for internet usage. Organizations allow employees to carry their own mobile devices to the workplace and connect the device to the company’s network. This helps employees to remain productive on-the-move, even when they are not at their workplace. Thus, growth in BYOD is stimulating the need for IT security, which in turn is driving the growth of the packaged software market. Loosely coupled integration and cloud deployments make it easier to deploy and incorporate software components. Increase in the client-server enterprise applications segment, human resources, distribution and manufacturing, spanning accounting, contributed significantly to the overall software market growth.

Software piracy is the biggest factor inhibiting the growth of the packaged software market. Digital software piracy has increased the threat of malware attacks and data hacking. However, manufacturers are trying to increase the IT infrastructure security to avoid such cyber-attacks.

The packaged software market is segmented on the basis of applications, deployment type, and end-use verticals. On the basis of applications, the market is segmented into entertainment, protection/security, and office production. Based on deployment type, the market can be segmented into on-premise, cloud, and hybrid deployment mode. Based on end-use verticals, the market can be segmented into financial service, retail, healthcare and IT and telecom were digitization, mobile payment, and mobile banking. Emergence of big data in health care systems have made packaged software essential to ensure efficient data storage and management for better utilization of the data generated.

North America and Europe are expected to witness high growth in the packaged software market. This can be attributed to increased IT spending and IT infrastructural security in the region. Asia Pacific (APAC) is also expected to contribute to growth in the market over the forecast period. Adoption of on premise packaged software is expected to grow effectively in verticals like healthcare, financial service, and retail segment in this region. Furthermore, the market in developing regions such as the Middle East & Africa (MEA) and Latin America are also expected to grow during the forecast period.

Some of the key players in the packaged software market include Microsoft Corporation, Oracle Corporation, SAP SE, Apple Inc., The Attachmate Group Inc., BMC Software Inc., CA Technologies Inc., Citrix Systems Inc., EMC Corp., Fujitsu Ltd., HCL Technologies Ltd., Hewlett-Packard Co., Hitachi Ltd., Intel Corp., Kaspersky Lab, NEC Corp., IBM corp., NetApp Inc., Red Hat Inc., Symantec Corp., Trend Micro Inc., and VMware Inc.

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand
  • Market size
  • Current trends/opportunities/challenges
  • Competitive landscape
  • Technological breakthroughs
  • Value chain and stakeholder analysis

The regional analysis covers:

  • North America (U.S. and Canada)
  • Latin America (Mexico, Brazil, Peru, Chile, and others)
  • Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
  • Eastern Europe (Poland and Russia)
  • Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
  • Middle East and Africa (GCC, Southern Africa, and North Africa)

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

  • A complete backdrop analysis, which includes an assessment of the parent market
  • Important changes in market dynamics
  • Market segmentation up to the second or third level
  • Historical, current, and projected size of the market from the standpoint of both value and volume
  • Reporting and evaluation of recent industry developments
  • Market shares and strategies of key players
  • Emerging niche segments and regional markets
  • An objective assessment of the trajectory of the market
  • Recommendations to companies for strengthening their foothold in the market 

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Packaged Software Market

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