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IT Software Market to Grow by USD 320.5 Billion from 2024-2028, Driven by IT Infrastructure Expansion, Report Highlights AI’s Role in Shaping Market Dynamics – Technavio

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NEW YORK, Aug. 30, 2024 /PRNewswire/ — Report with market evolution powered by AI- The global it software market  size is estimated to grow by USD 320.5 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  7.28%  during the forecast period.  Expansion of it infrastructure is driving market growth, with a trend towards increasing focus of vendors on development of new software solutions. However, growing concerns related to cyber security  poses a challenge. Key market players include Alphabet Inc., Amazon.com Inc., Atlassian Corp. Plc, Broadcom Inc., Cisco Systems Inc., Freshworks Inc., International Business Machines Corp., ITarian LLC, Kaseya Ltd., Microsoft Corp., NinjaOne, Nutanix Inc., Open Text Corp., Oracle Corp., Red Hat Inc., Salesforce Inc., SAP SE, SAS Institute Inc., ServiceNow Inc., SolarWinds Corp., SysAid Technologies Ltd, and Zoho Corp. Pvt. Ltd..

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Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

Type (Application software and Systems software), End-user (BFSI, Telecommunication, Retail, Healthcare, and Others), and Geography (North America, Europe, APAC, Middle East and Africa, and South America)

Region Covered

North America, Europe, APAC, Middle East and Africa, and South America

Key companies profiled

Alphabet Inc., Amazon.com Inc., Atlassian Corp. Plc, Broadcom Inc., Cisco Systems Inc., Freshworks Inc., International Business Machines Corp., ITarian LLC, Kaseya Ltd., Microsoft Corp., NinjaOne, Nutanix Inc., Open Text Corp., Oracle Corp., Red Hat Inc., Salesforce Inc., SAP SE, SAS Institute Inc., ServiceNow Inc., SolarWinds Corp., SysAid Technologies Ltd, and Zoho Corp. Pvt. Ltd.

Key Market Trends Fueling Growth

The IT software market is witnessing a significant trend as vendors prioritize the creation of new software solutions to maintain competitiveness and cater to evolving customer requirements. SolarWinds, for instance, recently launched its new AI engine, SolarWinds AI, under the AI by Design framework. This engine, debuting in SolarWinds Service Desk, enhances agent workflows and expedites ticket resolution. ManageEngine, a Zoho Corp. Division, introduced SaaS Manager Plus, a SaaS management solution, to help businesses manage and optimize SaaS subscriptions, usage, and costs. Both SolarWinds AI and SaaS Manager Plus exemplify the continuous investment in research and development by vendors to deliver innovative solutions with advanced functionalities, superior performance, and enhanced user experiences. These solutions underscore the importance of staying competitive and addressing customer needs in the IT software market. 

The IT software market is witnessing significant trends in 2021, with remote working becoming the new norm. Security software is in high demand due to increased reliance on computing devices and information systems for work. Internet communication, transactions, and access management are key areas of focus for businesses. Cybersecurity is a top priority, with network protection, data protection, and cybersecurity software solutions essential for e-commerce and AI-driven businesses. Cybercrimes are on the rise, making security standards crucial for IT and telecom. Business process automation through cloud-based solutions and ERP, CRM, and SCM software is streamlining operations. AI, IoT, and cybersecurity tools like Stacklock are transforming industries. Software developers are creating innovative applications, system infrastructure software, and productivity tools like PowerStore to enhance productivity and control system-level security risks. Cyberthreats require robust malware protection and network security. 

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Market Challenges

Cybersecurity threats pose a significant challenge in the global IT software market, impacting both providers and users. As software systems become more integral to business operations and personal activities, they also become prime targets for malicious attacks. These threats range from ransomware and phishing to advanced persistent threats (APTs) and distributed denial-of-service (DDoS) attacks. The growing sophistication of these threats demands robust security measures, such as encryption, multi-factor authentication, and regular software updates. The rise of the Internet of Things (IoT) and cloud computing introduces new vulnerabilities, requiring continuous monitoring and proactive threat management. Software developers and companies face the challenge of staying ahead of evolving cyber threats while ensuring their products remain user-friendly and efficient. High-profile attacks, like the MOVEit Transfer breach in May 2023, which exposed sensitive data from numerous organizations, underscore the critical need for robust security measures. Over 2,500 organizations were reported affected, with over 80% based in the US. Cybersecurity threats can significantly impact the growth of the global IT software market during the forecast period.The IT Software Market faces various challenges in today’s business landscape. IoT and Internet of Things bring new opportunities but also introduce security risks. Cybercrimes pose a significant threat to Enterprise Resource Planning (ERP), Customer Relationship Management (CRM), and Supply Chain Management (SCM) systems. Cloud-based solutions offer flexibility, but security standards for network security, malware protection, and access control must be met. IT and telecom industries grapple with system-level security risks and cyberthreats. Software developers must address productivity, cybersecurity software, and system infrastructure software needs. Large enterprises in sectors like energy and utilities, healthcare, and data security require robust cybersecurity tools against endpoint attacks and strategic alliances. The software market includes application software, system infrastructure software, productivity software, and cloud deployment models for on-premises and cloud-based solutions. Digital assets and software supply chain security are essential concerns.

For more insights on driver and challenges – Download a Sample Report

Segment Overview 

This it software market report extensively covers market segmentation by

Type 1.1 Application software1.2 Systems softwareEnd-user 2.1 BFSI2.2 Telecommunication2.3 Retail2.4 Healthcare2.5 OthersGeography 3.1 North America3.2 Europe3.3 APAC3.4 Middle East and Africa3.5 South America

1.1 Application software-  The IT software market is a significant sector, witnessing continuous growth due to increasing business digitalization. Companies invest in software solutions to streamline operations, enhance productivity, and improve customer experience. Key areas of focus include enterprise software, such as CRM and ERP, and emerging technologies like AI and machine learning. Collaboration tools and cybersecurity software are also in high demand. The market is competitive, with numerous players offering innovative solutions to meet evolving business needs.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2018 – 2022)  – Download a Sample Report

Research Analysis

The IT Software Market encompasses a wide range of solutions designed to facilitate business operations in the digital age. Key areas of focus include remote working tools, enabling employees to work effectively from anywhere, and security software to safeguard computing devices, information systems, and networks. Internet communication and transaction processing software are essential for seamless business operations, while access management and data protection solutions ensure secure access and data privacy. Network security, including network protection and malware protection, is a critical component of the IT Software Market, addressing cyberthreats and system-level security risks. Business process automation software streamlines workflows, increasing productivity and efficiency. Cybersecurity software, including cloud-based and on-premise solutions, is a priority for organizations to defend against cyberattacks and ensure virus defense. Software developers continue to innovate, creating new solutions to meet the evolving needs of businesses and individuals alike. The PowerStore represents a significant investment in data management and protection for businesses of all sizes.

Market Research Overview

The IT Software Market is a dynamic and ever-evolving industry that caters to the growing demand for advanced technology solutions in various sectors. Remote working has accelerated the need for reliable software, leading to an increase in demand for security software, computing devices, and information systems. Internet communication, transactions, and networks are integral parts of modern business operations, necessitating access management, data protection, and network protection. Cybersecurity is a major concern, with cybercrimes on the rise, driving the need for cybersecurity software and tools. E-commerce, AI, IoT, and ERP systems are transforming industries, from retail to healthcare and energy. Cloud-based solutions and on-premises software are both popular, with strategic alliances and partnerships shaping the market. IT and telecom industries are key consumers, while cybersecurity standards continue to evolve. Business process automation, network security, and malware protection are essential components of IT infrastructure. Productivity software, access control, and virus defense are crucial for individual users and large enterprises alike. System-level security risks and endpoint attacks require robust cybersecurity solutions. Software developers continue to innovate, creating new applications, system infrastructure software, and productivity software. The IT Software Market encompasses a wide range of solutions, from cloud deployment to digital asset protection and software supply chain security.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

TypeApplication SoftwareSystems SoftwareEnd-userBFSITelecommunicationRetailHealthcareOthersGeographyNorth AmericaEuropeAPACMiddle East And AfricaSouth America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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China Mobile Hong Kong Establishes Hong Kong’s First U6G Network

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Expanding Next-Generation Network Capabilities and Accelerating the Innovative Convergence of Communication, Computing, and AI Laying a Solid Foundation for 6G Development in Hong Kong

HONG KONG, Oct. 17, 2026 /PRNewswire/ — China Mobile Hong Kong Company Limited (“China Mobile Hong Kong”) announced that it has taken the lead in realising a U6GHz network, successfully completing network testing and validation at its Mong Kok flagship store and advancing the exploration of Upper 6GHz band applications in mobile networks. Implementing China Mobile Group’s strategy of “strengthening the network foundation and full-stack innovation”, China Mobile Hong Kong aims to enhance network capabilities through new frequency band applications, drive collaborative innovation between terminals and the wider industry, and lay a robust foundation for Hong Kong’s future 6G development.

Strategic Early Deployment of New Spectrum to Build Momentum for a 6G Future
U6GHz, or the Upper 6GHz band, can provide continuous wide bandwidth and is a crucial spectrum resource supporting 5G-A and future 6G evolution. On 29 November 2024, Hong Kong completed its 6/7GHz spectrum auction, becoming the first region globally to auction this frequency band for public mobile services. China Mobile Hong Kong successfully bid for 100MHz of continuous spectrum and has made appropriate forward-looking deployments, advancing network capability validation and terminal adaptation to accumulate experience for future 6G commercialisation.

Expanding Network Capacity to Enable Smoother Smart Applications
The newly added U6GHz spectrum can be utilised synergistically with existing frequency bands. Through various combinations with current spectrums, it can achieve download speeds of 3Gbps. The increased availability of spectrum helps enhance data transmission capabilities, accommodating more simultaneous user connections, improving the internet experience in highly congested areas, and supporting high-definition video and large-capacity data transmission.

As artificial intelligence becomes increasingly integrated into production and daily life, the demand for data transmission from devices such as smart glasses and AI robots continues to rise. China Mobile Hong Kong will promote the synergistic development of U6GHz and intelligent computing services, enhance connectivity between terminals and intelligent computing platforms, and explore AI image analysis, immersive interactions, and industrial applications. This will allow smart services to better integrate into everyday life and corporate operations.

Aligning with Mainland China and Hong Kong Blueprints to Consolidate the Foundation of Digital-Intelligent Development
China Mobile Hong Kong will actively align with the Nation’s “15th Five-Year Plan” and Hong Kong’s first Five-Year Plan. Focusing on “AI+”, computing infrastructure, and new industrialisation, the company will enhance communication and smart services through network upgrades to assist Hong Kong in building an international innovation and technology centre. Concurrently, China Mobile Hong Kong will collaborate with industry partners to accelerate the research, development, and testing of U6GHz products. By expanding hotspot coverage according to demand, it aims to drive the maturity of the industrial ecosystem and accelerate Hong Kong’s 6G development. Looking ahead, China Mobile Hong Kong will continue to leverage its strengths as a central state-owned enterprise, providing high-quality digital infrastructure to serve Hong Kong and the Guangdong-Hong Kong-Macao Greater Bay Area, thereby fully contributing to the building of a cyber superpower and a digital China.

About China Mobile Hong Kong Limited
China Mobile Hong Kong Company Limited (“China Mobile Hong Kong”) is the wholly-owned subsidiary of China Mobile Limited (HKEx: 941), which is listed on the Fortune Global 500. China Mobile Hong Kong was incepted in January 1997 and was the first mobile network operator to launch PCS services in Hong Kong.

As the world’s leading mobile network brand with the largest customer base*, The Company offers innovative and comprehensive 5G communications services, including voice, data, IDD and international roaming. The Company is committed to the development of 5G with new technologies such as artificial intelligence, internet of things, cloud computing and big data, integrating 5G applications in different industries, promoting the construction and development of smart city groups in Greater Bay Area.

* China Mobile (Hong Kong) Limited is a wholly-owned subsidiary of China Mobile Limited. As of 31 December 2025, China Mobile Limited had the largest number of mobile network subscribers in the world.

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SOURCE China Mobile Hong Kong Company Limited

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LG Electronics Kicks Off UAE Winter Roadshow for the All-New LG OLED EVO W6 Wallpaper TV

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UAE residents can spot the ultra-thin 9 mm True Wireless OLED evo W6 at iconic destinations across the country, with interactive social contests and a chance to win the flagship television.

LG Electronics is launching a winter-long roadshow across premier UAE destinations to showcase the all-new flagship LG OLED evo W6, True Wireless Wallpaper TV.The tour officially kicks off at The Lotus Lounge, Anantara The Palm Dubai Resort, running from 16 to 19 October 2026.Secret upcoming locations will be teased on Instagram via @lg_gulf. Guests who visit one of the spot and post an Instagram Story tagging #LGW6spotted and @lg_gulf will enter a grand draw to win an LG OLED W6 TV.

DUBAI, UAE, Oct. 17, 2026 /PRNewswire/ — LG Electronics (LG) has announced the official launch of its nationwide UAE Winter Roadshow, showcasing the groundbreaking LG OLED evo W6, True Wireless Wallpaper TV. Commencing this weekend, the showcase will invite residents and visitors across the Emirates to experience the future of ultra-premium home entertainment firsthand in some of the country’s most scenic and luxurious lifestyle venues.

The roadshow marks the regional debut of the LG OLED evo W6, True Wireless Wallpaper TV, celebrating the much-anticipated return of LG’s iconic “Wallpaper” aesthetic. Measuring an ultra-slim 9.95mm in depth, the W6 mounts seamlessly flush against the wall with zero gaps, transforming the living space into a high-tech art gallery. Equipped with LG’s proprietary Zero Connect wireless transmission technology, the screen delivers lossless 4K video and audio from an untethered AV box placed up to 10 meters away, completely eliminating visible cable clutter.

First Stop: The Lotus Lounge, Anantara The Palm Dubai Resort

The LG OLED evo W6 winter journey kicks off with an exclusive opening pop-up at The Lotus Lounge at Anantara The Palm Dubai Resort, running from 16 to 19 October 2026. Guests visiting the venue will see the display blending seamlessly into an upscale seaside hospitality environment.

A Gamified Winter Tour: #LGW6spotted

Throughout the winter season, the LG OLED evo W6 will pop up at surprise footfall lifestyle destinations across UAE.

To engage consumers and tech enthusiasts, LG Gulf is introducing an interactive social campaign:

Ahead of every pop-up, upcoming secret locations will be teased on @lg_gulf on Instagram. Followers who correctly guess the venue can win exclusive on-the-spot giveaways.Visitors who embark on the city-wide trail and spot the installation at locations can enter a lucky draw to win their very own LG OLED evo W6, True Wireless Wallpaper TV at the conclusion of the campaign. To qualify, participants simply need to capture a photo of the TV, upload it to their Instagram Story, tag @lg_gulf, and use the hashtag # LGW6spotted.

Next-Generation Picture and AI Performance

Beneath its ultra-thin profile, the LG OLED evo W6 is driven by LG’s most sophisticated brain yet: the α11 (Alpha 11) AI Processor 4K Gen3. Engineered to analyze content frame-by-frame, the processor utilizes deep learning to upscale imagery with astonishing spatial depth, refine facial realism, and map multi-channel virtual surround sound tailored to room acoustics.

Complementing the processor is LG’s next-evolution Hyper Radiant Color technology alongside Brightness Booster Ultra, delivering luminous peak highlights that push conventional OLED boundaries while preserving the iconic inky, Perfect Blacks that define the medium. To suit the light-filled, open-plan spaces characteristic of modern homes in the region, the screen incorporates an advanced Reflection Free Premium coating that dramatically suppresses ambient glare without muting color vibrancy.

Setting an industry first, the LG OLED evo W6 also stands as the world’s first True Wireless TV capable of transmitting 4K visual clarity at an ultra-smooth 165Hz refresh rate. Complete with full support for Dolby Vision, Dolby Atmos, and leading gaming technologies, including Variable Refresh Rate (VRR), NVIDIA G-Sync, and AMD FreeSync Premium, the LG OLED evo W6 ensures uncompromising performance whether playing host to high-octane gaming or an intimate, theater-grade cinema evening.

For more information about the LG OLED evo W6, visit:
https://www.lg.com/ae/tvs-soundbars/lg-oled83w66la. To follow the roadshow schedule, decipher location clues, and enter the contest, follow @lg_gulf on Instagram.

About LG Electronics Media Entertainment Solution Company

 The LG Media Entertainment Solution Company (MS) is a recognized innovator in televisions, audio, displays and smart TV platforms. The MS Company enhances the media entertainment experience with its OLED TVs, renowned for perfect black and perfect color, and premium LCD QNED TVs, all powered by the personalized webOS smart TV platform. The MS Company also offers Information Technology solutions (gaming monitors, business monitors, laptops, projectors, cloud devices and medical displays) as well as Signage solutions (Micro LED signage, digital signage, hospitality displays and signage software solutions) that are designed to maximize customers’ work efficiency and deliver strong value. For more news on LG, visit www.LGnewsroom.com. 

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SOURCE LG

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JinkoSolar Unveils Tiger Neo 5.0 All-Black Residential Solar Module with 25.52% Efficiency

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SHANGRAO, China, Oct. 17, 2026 /PRNewswire/ — JinkoSolar Holding Co., Ltd. (“JinkoSolar” or the “Company”) (NYSE: JKS), today unveiled Tiger Neo 5.0, an all-black residential solar module built on its all-new TAC technology. The first version to reach the market, an all-black 48-cell module, delivers a maximum power output of 510 W with a module efficiency of 25.52%. It was designed to redefine the upper limits of what a scenario-specific module can deliver in both appearance and efficiency for premium homes and other architecturally refined residences.

The module showcases a deeper, more uniform and more refined black appearance than conventional back-contact (BC) modules. Semiconductor-grade low- and high-temperature processes bring the power temperature coefficient down to -0.24%/℃, meaning stronger energy yield in high-temperature environments.

TAC technology combines the excellent carrier transport of TOPCon with the low-temperature processing and positive electrode passivation of HJT, pushing peak cell efficiency to 28%, approaching the theoretical limit of monocrystalline silicon cells. Together with a zero-gap cell layout and hidden-ribbon technology at module level, the module achieves an efficiency of 25.52%. Compared with conventional BC products, it delivers approximately 30 W more power, and a lower temperature coefficient. Its deeper, more premium black appearance blends seamlessly into residential rooftops— especially dark-colored ones — making it a standout in the residential module category for both power and aesthetics.

“Our vision for Tiger Neo 5.0 was to develop a panel tailored to premium residential rooftops. It pushes the boundaries of both performance and aesthetics with innovations in cell technology, passivation processes, structural design, module format and interconnections. With this launch, we aim to help move the industry toward solutions tailored to specific applications,” said Charlie Cao, CEO of Jinko Solar Co., Ltd.

About JinkoSolar Holding Co., Ltd.

JinkoSolar (NYSE: JKS) is a holding company combining clean energy industrial operations and strategic investment in emerging technologies. Its industrial foundation is a controlling interest in Jinko Solar Co., Ltd. (SSE: 688223), a global leader in clean energy technology. The Company makes disciplined strategic investments in renewable energy, advanced materials, artificial intelligence, commercial space and other frontier technologies, drawing on its industrial experience and its ability to identify emerging technologies and bring them to commercial scale.

Through Jinko Solar Co., Ltd., the Company distributes its solar products and sells its solutions and services to a diversified international utility, commercial and residential customer base in China, the United States, Japan, Germany, the United Kingdom, Chile, South Africa, India, Mexico, Brazil, the United Arab Emirates, Italy, Spain, France, Belgium, Netherlands, Poland, Austria, Switzerland, Greece and other countries and regions.

JinkoSolar has over 10 production facilities globally, over 20 overseas subsidiaries in Japan, South Korea, Vietnam, India, Turkey, Germany, Italy, Switzerland, the United States, Mexico, and other countries, and a global sales network with sales teams in China, the United States, Canada, Brazil, Chile, Mexico, Italy, Germany, Turkey, Spain, Japan, the United Arab Emirates, Netherlands, Vietnam and India, as of June 30, 2026.

To find out more, please see: www.jinkosolar.com 

Safe Harbor Statement

This press release contains forward-looking statements. These statements constitute “forward-looking” statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Among other things, the quotations from management in this press release and the Company’s operations and business outlook, contain forward-looking statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Further information regarding these and other risks is included in JinkoSolar’s filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F. Except as required by law, the Company does not undertake any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

For investor and media inquiries, please contact:

Ms. Stella Wang
JinkoSolar Holding Co., Ltd.
Tel: +86 21-5180-8777 ext.7806
Email: pr@jinkosolar.com

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SOURCE JinkoSolar Holding Co., Ltd.

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