SpendEdge, a global procurement market intelligence firm, has announced
the release of their Global
IT Software Market Category – Procurement Market Intelligence Report.
This press release features multimedia. View the full release here:
https://www.businesswire.com/news/home/20190618005577/en/
Global IT Software Market Category – Procurement Market Intelligence Report. (Graphic: Business Wire)
The IT software market is poised for a category spend growth of USD 690
billion between 2018-2023, with spend momentum accelerating at a CAGR of
4.67% during the forecast period. The healthcare sector primarily
exhibits this increasing spend in the IT software market following the
rapid digitization of medical records and the increased integration of
smart devices with patient monitoring systems. Adoption of data-driven
strategies will increase the demand for business analytics software
across end-users like manufacturing, automobile, BFSI, including the
healthcare sector. This demand will supplement the spend growth of the
IT software market across the geographies. Request
a Free Sample of this IT software market procurement
intelligence report here!
Buyers from the BFSI sector in the US are adopting IT software to
automate functions such as selling financial products, loan processing,
account processing, and CRM through automated chatbot interactions. This
is expected to drive the spend momentum of the IT software market in the
region. However, the ongoing uncertainties over Brexit will
significantly impact the market across several countries in Europe.
Moreover, the imposition of the new trading and tariff-related
regulations in the UK is expected to further reduce the spend on IT
software by SMBs and banking firms. This is driving many companies in
the BFSI sector to shift their operations from the UK, thereby limiting
the scopes of growth for vendors in the IT software market.
This procurement intelligence report offers a comprehensive overview of
the US IT software market trends and identifies the best IT software
market pricing strategy to help enterprises procure at cost-effective
rates. The report also provides information on the spend opportunity for
suppliers and allows buyers to estimate the total cost of ownership. Get
free customization of this IT software market procurement
intelligence report to get information tailored to your every
requirement.
“Engaging with value-added resellers (VAR) will benefit buyers with
maximum procurement discounts. This engagement will also allow the
buyers access to additional services such as maintenance contracts or
training, implementation services and provision of customization of
off-the-shelf software,” says SpendEdge procurement expert Sumit
Yadav.
This IT software market procurement intelligence report has estimated
the following cost drivers to influence the category growth in the
coming years:
- Digitization in the banking sector will drive category demand
- Software license optimization can reduce TCO about IT software
-
Purchase the full
market intelligence report on IT software market here!
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SpendEdge’s procurement
market intelligence reports for the information
technology category provide detailed supply market forecasts and
cost drivers that impact category growth. Such information will help
procurement managers as well as the suppliers to determine the total
cost of ownership and change their procurement strategies accordingly.
Additionally, SpendEdge’s reports provide category management insights
and information on the procurement best practices for the category.
Report scope snapshot: IT software market
Category pricing insights
- Pricing outlook
- Total cost of ownership analysis
- IT software market trends
-
Interested to know more about the scope of our market intelligence
reports? Download
a FREE sample
Cost-Saving Opportunities
- Supplier-side levers
- Buyer-side levers
- IT software market pricing strategy
-
Want customized information from the IT software market procurement
intelligence report? Get
in touch
Category ecosystem
- Competitiveness index for suppliers
- Buyer power
- Supplier power score
-
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PaaS Category – Procurement Market Intelligence Report -
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View source version on businesswire.com: https://www.businesswire.com/news/home/20190618005577/en/