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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..

Get a detailed analysis on regions, market segments, customer landscape, and companies – Click for the snapshot of this report

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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The National Association of Mortgage Brokers Announces its Launch of MORE, New Mortgage Education and Professional Development Platform

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NAMB MORE brings training, credentials, professional development and daily mortgage market information together in one place

LAS VEGAS, Oct. 17, 2026 /PRNewswire-PRWeb/ — The National Association of Mortgage Brokers (NAMB) the first and only national volunteer-led and membership-driven organization representing the interests of mortgage brokers and home buyers since 1973, today announced the launch of NAMB MORE(Mortgage Originator Resources and Education), a new learning and professional development platform designed to give mortgage professionals the education, resources and information they need to grow throughout their careers.

MORE officially launches today during NAMB National 2026, being held October 16–19 at Caesars Palace in Las Vegas. The platform is designed as a long-term resource for mortgage professionals at every career stage, bringing training, credentials, professional development and timely industry information together in one place.

Mortgage professionals can learn more and access the platform at nambhasmore.org. Access to MORE will be free through NAMB Focus, January 7–9, 2027. Users must have a NAMB member profile to access the learning management system.

“NAMB MORE represents a significant investment in the future of mortgage professionals and the continued advancement of our industry,” said Michael Farrell, President of NAMB. “We wanted to create more than a collection of courses; we wanted to build a resource that professionals can turn to throughout their careers. NAMB MORE delivers valuable education, professional development and practical information members can apply to their businesses daily. ‘NAMB has MORE’ is a mantra the entire organization embraces, reflecting our commitment to providing the industry with innovative tools that support professional growth, strengthen advocacy and help foster our members’ success. “MORE was developed with the mortgage industry in mind, with NAMB and subject-matter experts contributing to the platform’s educational content.”

The platform is designed to support mortgage professionals from their first year in the business through experienced production, management and leadership roles. Educational resources span foundational mortgage knowledge, loan origination, mortgage programs and products, business growth, sales and marketing, borrower experience, professional development and more.

The MORE course library includes content across core categories such as:

Business Strategy & GrowthLoan OriginationMortgage FoundationsMortgage Programs & ProductsProfessional Development & Workplace SkillsSales, Marketing & Borrower ExperienceGeneral

Additional learning resources and credentials are designed to help mortgage professionals continue developing their skills as their careers evolve.

A key component of the new platform is the MORE Daily Dashboard, which serves as the home screen members see when they log into MORE. Rather than requiring members to visit the platform only when completing a course or pursuing a credential, the Daily Dashboard is designed to give mortgage professionals a reason to return every day.

The Daily Dashboard currently features:

Mortgage Rate Alert Widget: Provides information about the factors affecting mortgage rates and refreshes at least hourly.Upcoming Events: Highlights NAMB events and opportunities so members can stay connected to the association and industry.Daily Access to MORE: Provides a central starting point for accessing education, professional development and other resources.

“The Daily Dashboard is an important part of what makes MORE different,” added Farrell. “We want MORE to become part of a mortgage professional’s daily routine. Whether someone is checking the latest rate information, looking for an upcoming NAMB event or continuing their professional education, MORE puts useful resources in one place.”

About NAMB: The National Association of Mortgage Brokers has been the only national volunteer-led and membership-driven organization representing the interests of mortgage professionals and homebuyers since 1973. NAMB provides mortgage professionals with advocacy, education, and rigorous certification programs to recognize members with the highest levels of professional knowledge and education. NAMB’s active lobbying and advocacy efforts focus on national and state issues, protecting the interests of its members and borrowers. As the leading national trade association for the mortgage industry, NAMB is affiliated with state associations throughout the country and represents the interests of more than 546,800 licensed and registered Mortgage Loan Originators and 49,100 licensed Mortgage Broker and Mortgage Lender businesses throughout the U.S. www.namb.org

Media Contact

Joshua Steinfeld, Steinfeld Consulting, 1 339-225-1581, steinfeldconsulting@gmail.com

View original content:https://www.prweb.com/releases/the-national-association-of-mortgage-brokers-announces-its-launch-of-more-new-mortgage-education-and-professional-development-platform-302910967.html

SOURCE The National Association of Mortgage Brokers

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The United States Golf Association Selects Gupta Media as Paid Media Agency of Record

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The appointment comes as the USGA looks to continue to strengthen brand equity and increase awareness and engagement with golfers nationwide

BOSTON, Oct. 17, 2026 /PRNewswire-PRWeb/ — The USGA, the non-profit governing body of golf in the United States, has named Gupta Media its paid media agency of record following a competitive pitch process that began in February. Gupta Media will lead paid media strategy, planning, buying and reporting in support of the USGA’s Championship ticketing and broader commercial initiatives, while helping grow brand equity, awareness and engagement across the organization. Its work will span key USGA priorities, including golf’s official Handicap Index® and GHIN app; the Rules of Golf and the USGA’s governance of the game; Membership; and initiatives that advance golf through sustainability, research and innovation, and greater access and inclusion. The relationship expands beyond media execution to include audience strategy, first-party data integration, measurement and optimization.

“Gupta Media stood out for its ability to connect the dots between data, audience strategy, media and creative to real business outcomes, so we’re incredibly excited for this next chapter.”

The relationship comes at an important moment for the USGA, with the organization focused on continuing to expand its reach and deepening brand affinity across the ever-growing, diverse golf community. Gupta Media will help drive ticket sales for some of the sport’s biggest events, including the 2027 U.S. Open at Pebble Beach Golf Links, the 2027 U.S. Women’s Open at Inverness Club, the 2028 U.S. Open at Winged Foot Golf Club and the 2028 U.S. Women’s Open at Oakmont Country Club. The agency will also support the USGA in creating greater awareness and brand recognition for its corporate Partners through co-branded content and paid media.

Golf has an enormous network of people who love the game, creating a growing opportunity to build a deeper, more direct relationship between golfers and the organization. That challenge is exactly what Gupta Media is built to strategically address — from growing membership and promoting ticket sales for major live events to reaching new audiences and understanding customer lifetime value. By bringing together audience insights, first-party data and media performance, Gupta Media will help the USGA create more relevant, effective marketing that drives measurable business results while strengthening its connection with the next generation of golfers.

“We were looking for an agency that could bring a deep understanding of our audiences, a genuine enthusiasm for our mission and the strategic expertise to work with us through this next phase of golf’s growth,” said Lynn LaRocca, USGA’s Managing Director of Brand & Marketing. “Gupta Media stood out for its ability to connect the dots between data, audience strategy, media and creative to real business outcomes, so we’re incredibly excited for this next chapter.”

“There’s a personal element to this partnership that makes it especially rewarding. My golf journey began 30 years ago when I first visited Pebble Beach as a teenager, long before I could imagine actually playing on the course,” said Gogi Gupta, Founder, Gupta Media. “To now have the opportunity to connect that lifelong passion for the game with the work we’ve spent years building and fine-tuning our agency to do feels like kismet. We’re eager to bring our proficiency to an organization that plays a leading role in the great game.”

The relationship brings together Gupta Media’s deep experience in sports marketing with its data-driven approach to audience strategy, media and creative. The agency has developed a specialized set of tools and processes to address data and analytics challenges of sports and live events, including TallyTickets.com, its proprietary ticketing analytics platform that helps teams understand sales trends, forecast demand and make more informed marketing and media decisions. Gupta Media’s experience spans sports, entertainment, premium events, and pop culture, giving the agency a comprehensive understanding of the audience models and fan behaviors that shape the industry.

About the USGA:

The USGA is a mission-based golf organization whose purpose is to unify the golf community through handicapping and grassroots programs; to showcase the game’s best talent through the U.S. Open, U.S. Women’s Open, and 13 other national championships and our museum; to provide unbiased global governance with The R&A through the playing, equipment and Amateur Status rules; and to advance issues important to golf’s future, with a focus on driving sustainability.

About Gupta Media:

Gupta Media, a certified Minority Business Enterprise, is a strategic consultancy at the intersection of creative strategy, digital media, advanced analytics, and performance marketing. We drive growth for professional sports franchises, global tech leaders, DTC brands, major music labels, and other high-profile organizations by building intelligent media plans, best-in-class reporting tools, and custom enterprise technology. Founded 25 years ago by Cornell grad Gogi Gupta, the agency is known for developing new methods of maximizing advertising efficiency in a digital-first world. Harvard Business School’s case study on Gupta Media was taught to all incoming students for three years and is still taught around the globe.

Media Contact

Carly Carioli, Gupta Media, 1 617-682-3733, ccarioli@guptamedia.com, guptamedia.com

View original content:https://www.prweb.com/releases/the-united-states-golf-association-selects-gupta-media-as-paid-media-agency-of-record-302911621.html

SOURCE Gupta Media

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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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