The Global Software And BPO Services Market Is Valued At $843 Billion In 2017 According To TBRC’s Latest Report

Software services include application software programming services, computer program (software) development, computer software support services and web design services. Software service companies’ document, design, create, test and maintain applications, using a planned and structured process.

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The market is valued at $843 billion in 2017 as the IoT technology adoption by manufacturing and transportation service companies is driving the software and BPO services market. IoT is a network of physical objects such as devices, vehicles, buildings and other items which are embedded with electronics, software, sensors and network connectivity enable these objects to collect and exchange data.

The market in the report is segmented into: CRM BPO, infrastructure software, HRO BPO, application software and other BPO services.

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The USA was the largest country in the software and BPO services market in 2017, accounting for one-fifth of the market share followed by China and Germany.

The top five competitors in the market made up around one-sixth of the total market in 2017. IBM was the largest competitor, followed by Fujitsu, HPE, SAP and Accenture. International Business Machines Corporation (IBM) is an American multinational technology and consulting corporation with headquarters in Armonk, New York. The core business involves solutions which include implementation, cloud and cognitive services, enterprise systems and other software services.

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