Software Industry

Spending in the software market now exceeds hundreds of billions of dollars, focusing heavily on AI-related projects, including e-mail and authoring. The market is expected to remain on a remarkable growth trajectory worldwide.

The global surface computing market is forecast to grow at an impressive compound annual growth rate (CAGR) of 33.24% to reach $983.05 billion by 2033, up from $55.25 billion in 2023.

The global artificial intelligence (AI) market was valued at $93.5 billion last year and is forecast to expand at a compound annual growth rate (CAGR) of 38.1% between 2022 and 2030. AI is proving to be a transformative factor in today’s digital era and is being applied in every area possible, from self-driving cars to life-saving medical equipment. The big tech giants continue to invest in research and innovation that is driving the adoption of advanced AI technologies in industry verticals, including healthcare, finance, automotive, retail, and manufacturing. AI offers better efficiency, and many companies are also adopting AI technology to offer better customer experiences.Software SolutionsThe software solutions segment leads the AI market, accounting for a revenue share of more than 38% in 2021. This large share is due to advances in data storage capacity, data extraction, computing power, parallel processing to deliver high-end services, and the ability to provide real-time insights that aid in decision-making. These AI software solutions utilize video analytics, linear algebra, inference, sparse matrices, and hardware communications to help businesses analyze and understand visual content to gain insights and make smarter decisions.Machine & Deep LearningThe deep learning segment of the AI market accounted for a revenue share of about 37% in 2021. This large share can be attributed to complicated data-driven applications, including text and speech recognition. As a result, deep learning offers profitable investment opportunities and includes both AI platforms and cognitive applications, such as tagging, alerting, filtering, clustering, categorizing, hypothesizing navigation, and visualization. These elements enable the development of intelligent solutions.As cloud-based computing and on-premises hardware equipment for mass data storage grow, it paves the way for the expansion of analytics platforms. There is increasing investment in R&D by leading firms that will play a major role in adopting AI tech. The natural language processing (NLP) segment is largely anticipated to gain momentum as it is becoming more widely used by various businesses to improve decision-making processes by understanding customer preferences, trends, and purchasing behaviors.SegmentationThe advertising and media segment accounted for a revenue share of more than 20% in 2021. However, the healthcare sector is expected to gain a leading share by 2030. It is further segmented based on areas such as robot-assisted surgery, virtual nursing assistants, dosage error reduction, hospital workflow management, clinical trial identifiers, preliminary diagnosis, and automated image diagnosis. As the banking, financial services, and insurance (BFSI) segment performs financial analysis, risk assessment, and investment and portfolio management, AI has a growing share in the sector due to high demand for risk and compliance applications.  Other verticals highly focused on AI usage include retail, law, automotive, transportation, and agriculture. One of the most utilized applications by every vertical is the conversational AI platform, which is a type of AI technology that allows people to interact with devices in a way that mimics human conversation, such as chatbots. 

Due to the COVID-19 pandemic, there has been increased adoption of enterprise resource planning (ERP), customer relationship management (CRM), and other entrepreneurial software. In 2020, many companies accelerated their plans to begin using these systems, and the market for them remains hot, particularly for Platform-as-a-Service (PaaS) and Software-as-a-Service (SaaS) models. COVID forced most businesses to digitize their offerings in real-time as consumers began turning to online shopping and employees started working remotely—both trends that are expected to continue into the future.

As the owner of a Software as a Service (SaaS) company, there are several strategic steps you can implement in order to drive growth and maximize the value of your business.

Strategic partnerships can be game-changers for SaaS (Software as a Service) companies. Sales revenue is clearly of vital importance, but it takes more than just those numbers to make things happen on a larger scale. Relationships are the bedrock of business. If you are looking to drive growth, a strategic partnership can be a very powerful tool to help your company increase its audience, build upon the brand, and tap into new markets. All of this, in turn, can prop up your sales team and boost your overall growth.

The electronics industry manufactures electronic equipment used within industrial electronics such as semiconductors, as well as consumer electronics such as televisions and smartphones.Companies in this sector design, develop, manufacture, assemble, and service equipment and components.

There has been a steep incline in private equity investors buying SaaS (software as a service) companies over the last five years with PE firms investing in, recapitalising, and outright buying numerous SaaS companies. In fact, private equity accounted for 2.5% of all private equity portfolio acquisitions in 2018.

A study by Private Equity Info has identified the top 10 industries that private equity firms have been acquiring during 2018. Below is a breakdown of the industries along with why they have been so popular with private equity firms.

The technology sector has long dominated M&A media coverage, with some of the most recognisable brands sparking the public’s interest with mega-deals grabbing headlines. Increasingly, these deals are focusing on one of the next big battlegrounds for technology companies: the cloud.