Global Independent Software Vendors Market Size, Share, & COVID-19 Impact Analysis, By Products (Security Software, Business Intelligence & Analytics, Business Applications, Consumer-facing applications, and Others), By Deployment Type (On-premises and Cloud), By Enterprise Type (SMEs and Large Enterprises), By End-user Industry (Healthcare, BFSI, Manufacturing, Retail & E-commerce, IT & Telecom, Automotive, Government, and, Others), and Regional Forecast, 2024-2032

An Independent Software Vendor (ISV) is an individual or organization that creates and sells software that runs on various computer operating systems (OS) such as Apple, Windows, and Linux or cloud platforms such as Oracle Cloud and Amazon Web Service (AWS). ISVs generally develop their software in collaboration with the hardware manufacturers and the organizations that produce the platforms.

ISVs develop and offer a range of software including vertical-specific software, enterprise software, cloud-based software, and others. ISVs are at the centre of a boom in cloud services and the Software-as-a-Service (SaaS) market. As per Tackle’s “State of the Cloud Marketplaces in 2022” survey, 68% of software buyers noted that they are increasing cloud budgets in 2023, thus, augmenting the lucrative opportunity for software sellers to access a buyer’s intent of cloud spend. In cloud computing, ISVs sell their software on a SaaS basis.  

The independent software vendors market is expected to exhibit significant growth in the upcoming years due to the growing shift toward cloud-based solutions and SaaS, a surge in digital transformation, and the rise of remote work. The rise of the mobile workforce drives the demand for collaboration tools, mobile apps, and remote access solutions, thus, creating ample growth opportunities for ISVs to develop relevant software. Microsoft Teams, a business communication platform, has been increasingly collaborating with ISVs to build innovative apps. The close collaboration has witnessed over 800 Teams apps worldwide. Various companies offer partner program for ISVs to expand ecosystem and offer enhanced product. For instance,

• In March 2023, Datalogic S.p.A., an industrial automation solutions provider, announced the launch of the Global Independent Software Vendor Partner Program for mobile computers. This program offers a wide range of benefits such as an increase in brand awareness, lead generation, and accelerated software development. 

Impact of COVID-19 on the Independent Software Vendors Market

The COVID-19 outbreak created an unprecedented impact on businesses, institutions, people, and, nearly every aspect of human life. The pandemic had a mixed impact on the ISV market, with its impacts varying based on software type as well as industry focus. The pandemic has led to a rapid shift in remote work and online operations. ISVs offering video conferencing, e-commerce platforms, and remote work solutions registered increased demand. Moreover, ISVs offering software related to healthcare also witnessed a surge as the healthcare industry adopted remote patient monitoring tools during the pandemic. However, the global economic recession caused many organizations to cancel or delay software projects due to financial constraints, disrupting market growth.

Segmentation

Analysis By End-user Industry

ISVs develop software for various end-user industries including healthcare, BFSI, manufacturing, retail & e-commerce, IT & telecom, automotive, government, and, others. For the BFSI sector, ISVs offer software for risk assessment, online banking, investment management, and financial planning. ISVs help banks embrace advanced technologies with an emphasis on digitizing the employee and customer experience. The rapid pace of innovation is transforming BFSI. In the new landscape, banking is adopting the cloud at a fast pace, offering excellent growth opportunities to ISVs.  

Key Insights

The report will cover the following key insights:

• Micro Macro Economic Indicators


• Drivers, Restraints, Trends, and Opportunities


• Business Strategies Adopted by the Key Players


• Impact of COVID-19 on the Global Independent Software Vendors Market


• Consolidated SWOT Analysis of Key Players

Regional Analysis

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The global independent software vendors market is distributed into five regions: North America, South America, Europe, the Middle East & Africa, and Asia Pacific. North America held a significant market share in 2022, owing to the presence of several major players as well as numerous local players, growing adoption of cloud computing, and an increased focus by organizations for the digital transformation of business processes. In North America, ISVs develop software for a wide range of industries such as e-commerce, BFSI, and IT & telecom. The distribution of the global independent software vendors market by region of origin is as follows:

• North America – 35%


• South America – 11%


• Europe – 26%


• Middle East and Africa – 6%


• Asia Pacific – 22%

Key Players Covered

The key players in this market are Veeva Systems, Commvault, Neo4j, Inc, SCash Global Pte Ltd., nCino, Quest Software, Altova, BrightWork, VMware, Inc. and DocuSign, Inc. among others.

Key Industry Developments:

• August 2023: Commvault, a data management and data protection software company, joined Amazon Web Services (AWS) ISV Workload Migration Program to help boost customers’ migration to AWS through improved technical support.


• May 2023: Alibaba Cloud, a cloud computing company, announced a new ISV program to expand its business across the Asia Pacific region. The company has planned to offer global ISVs with new financial incentives and technical support.