According to a new report, published by KBV research, The Global Office Software Market size is expected to reach $35.5 billion by 2028, rising at a market growth of 6.5% CAGR during the forecast period.
The Spreadsheet Software market acquired the high revenue share in the Global Office Software Market by Type in 2021, thereby, achieving a market value of $13.8 billion by 2028. This segment is growing rapidly because businesses are integrating spreadsheet software for organizing, storing, and analyzing data in tabular format. In the coming years, the increasing tendency of small and medium-sized enterprises (SMEs) to collaborate with e-commerce players and integrate with other online applications, like automated bank feeds, billing capabilities, and enhanced visualization capabilities, would likely increase the adoption of spreadsheet software.
The Cloud market is showcasing a CAGR of 7.6% during the forecast period. As it enables the flexibility of on-demand resource provisioning and consumption, the cloud deployment model is anticipated to grow in popularity during the forecast period. The cloud deployment approach is preferred by businesses because of its accessibility and cheaper operating and capital costs.
The North America market dominated the Global Office Software Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $12.9 billion by 2028. The Europe market is anticipated to grow at a CAGR of 5.8% during (2022 - 2028). Additionally, The Asia Pacific market would witness a CAGR of 7.5% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/office-software-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Microsoft Corporation, Google LLC, IBM Corporation, Oracle Corporation, Salesforce.com, Inc., Broadcom, Inc. (Symantec Corporation), Dell Technologies, Inc., HP, Inc., and Citrix Systems, Inc.
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