Software

[New] The Neural Network Software Market is expected to register a CAGR of 35.2% during the forecast period 2019-2024.
[New] The logistics services software market is poised to grow by USD 2.33 billion during 2020-2024, progressing at a CAGR of almost 9% during the forecast period.
[New] The annual SMB spending on cyber security (including hardware, software and services) worldwide will grow by 10% year-on-year from 2019 onwards, and will reach almost USD 80 billion by 2024.
The global AI software market is forecast to experience massive growth in the coming years, with revenues predicted to increase from around $10 billion U.S. dollars in 2018 to $126 billion in 2025.
Global revenue from artificial-intelligence hardware, software, and services will climb roughly 12% annually to reach $156.5 billion in 2020, and spending is expected to accelerate as coronavirus-related pressures ease.
Unified communication & collaboration will be the popular investment area in communications and collaboration software for most enterprises in the retail banking sector in the next two years.
The largest share of software spending will go to AI applications ($14.1 billion) (€11.9 billion) while the largest category of services spending will be IT services ($14.5 billion) (€12.2 billion).
Worldwide spending on commercial virtual reality solutions inclusive of hardware, software, and services will grow to $7.1 billion in 2020, up from $4.5 billion in 2019.
The largest share of software spending will go to AI applications ($14.1 billion) while the largest category of services spending will be IT services ($14.5 billion).
For the remainder of 2020, organizations that expand remote work functionality will prioritize collaboration software, mobile device management, distance learning educational solutions and security, as well as the infrastructure to scale to support increased capacity.
Worldwide spending on security-related hardware, software, and services will be $125.2 billion in 2020, an increase of 6.0% over 2019.
The significant growth in renewable capacity and shifting wholesale market dynamics will drive the software market to grow by 60% to $2.8 billion by 2025.
The global impacts of the coronavirus disease 2019 (COVID-19) are already starting to be felt, and will significantly affect the Website Accessibility Software market in 2020.
The virtual reality (VR) industry is growing at a startling pace: consumer VR hardware and software markets are projected to be worth over $16 billion by 2020.
Worldwide revenues for the artificial intelligence (AI) market, including software, hardware, and services, are expected to total $156.5 billion in 2020, an increase of 12.3% over 2019.
The facial recognition software market will generate $7 billion of revenue by 2024, growing at a compound annual growth rate of 16% through that year.
Though DaaS is expected to grow fastest, Software as a service (SaaS) remains the largest market segment with expected revenue of $104.7 billion in 2020.
The global telemedicine technologies market, including hardware, software, and services, was valued at $17.8 billion in 2014 and is predicted to grow at a compound annual growth rate of 18.4% from 2014 to 2020.
The market size of the global Carpooling Software Market was commendable in the previous forecast year and is expected to rise to greater heights in the coming forecast period 2020-2026.
Gartner predicted that overall IT spending will decline 8% between 2019 and 2020, with areas such as enterprise software and IT services taking major hits, which could signal that organizations may also spend less on security software and services.
The autonomous cars software market is poised to grow by $3.26 bn during 2020-2024 progressing at a CAGR of 36% during the forecast period.
The Robot Software Market is expected to exceed more than US$ 10.5 Billion by 2024 at a CAGR of 45% in the given forecast period.
Worldwide revenue from AI software will climb from $10.1 billion in 2018 to $126.0 billion in 2025, led in large part by advancements in deep learning technology.

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Last updated: 21 September 2020