Software and BPO Services Global Market Analytics Outlook 2016 - Europe third largest geographic market

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Sep 12, 2016, 06:53 ET

NEW YORK, Sept. 12, 2016 /PRNewswire/ -- 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. Customers for software services include commercial establishments operating in manufacturing, telecoms, fast moving consumer goods (FMCG) verticals and other industries and government organizations.

The Americas was the largest geographic market in the software and BPO services market in 2015, accounting for $xx billion or xx% of the global market.
Asia was the second largest geographic market, accounting for $xx billion or xx% of the global market.
Europe was the third largest geographic market, accounting for $xx billion or xx% of the global market.
The Middle East and Africa accounted for xx% and $xx billion, while the Middle East and Africa accounted for xx% of the global software and BPO services market.

Global per capita software and BPO services consumption grew from $xx in 2011 to $xx in 2015 at a CAGR of xx% and is expected to grow to $xx in 2019 at a CAGR of xx%. Per capita expenditure is increasing because of significant increase in software and BPO services spending in emerging markets and technology advances enabling companies to offer more customized solutions to their customers through software services.

Over the past five years, cloud software solutions have been gaining acceptance from companies across all industries. Cloud is a software delivery method where a vendor hosts a software application in a remote server and customers can access it through the internet. Cloud software solutions are widely used in customer relationship management (CRM), HR/payroll, project management and accounting software systems. For example, Hershey's implemented IBM analytics SaaS tool to obtain customer insights and boost sales.
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