Connect with us

Technology

Software Market to Grow by USD 27.2 Billion from 2024-2028, Driven by Rising Enterprise Data Volume; AI-Powered Market Evolution- Technavio

Published

on

NEW YORK, Oct. 22, 2024 /PRNewswire/ — Report on how AI is driving market transformation – The Global Software Market  size is estimated to grow by USD 27.2 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  7.8%  during the forecast period. Increase in volume of enterprise data is driving market growth, with a trend towards increasing cloud computing. However, high costs of licensing and support  poses a challenge – Key market players include Adobe Inc., ANSYS Inc., Autodesk Inc., Cisco Systems Inc., Dassault Systemes SE, Focus Softnet Pvt. Ltd., Gen Digital Inc., Hewlett Packard Enterprise Co., IFS World Operations AB, International Business Machines Corp., McAfee LLC, Microsoft Corp., Oracle Corp., OTSUKA CORP., Salesforce Inc., SAP SE, SYNERGIX TECHNOLOGIES PTE LTD., Synopsys Inc., VMware Inc., and Zoho Corp. Pvt. Ltd..

AI-Powered Market Evolution Insights. Our comprehensive market report ready with the latest trends, growth opportunities, and strategic analysis- View your snapshot now

Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

Type (Subscriptions, Identity and access management, Endpoint/network/messaging/web security, and Risk management), Deployment (Cloud-based and On-premises), and Geography (North America, Europe, APAC, South America, and Middle East and Africa)

Region Covered

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

Key companies profiled

Adobe Inc., ANSYS Inc., Autodesk Inc., Cisco Systems Inc., Dassault Systemes SE, Focus Softnet Pvt. Ltd., Gen Digital Inc., Hewlett Packard Enterprise Co., IFS World Operations AB, International Business Machines Corp., McAfee LLC, Microsoft Corp., Oracle Corp., OTSUKA CORP., Salesforce Inc., SAP SE, SYNERGIX TECHNOLOGIES PTE LTD., Synopsys Inc., VMware Inc., and Zoho Corp. Pvt. Ltd.

Key Market Trends Fueling Growth

Organizations are transitioning from on-premises software to cloud-based solutions, which provide benefits such as flexibility in deployment, cost savings on IT infrastructure, and remote access for seamless collaboration. Cloud software’s scalability accommodates businesses of all sizes, allowing them to adapt to changing demands without significant investments. Quick implementation and deployment times, enhanced security, continuous updates, and global accessibility are additional advantages. These factors contribute to the growth of the software market, making cloud computing an attractive choice for businesses seeking agility, security, and time-to-market advantages. 

In today’s business landscape, productivity software continues to trend with cloud deployment becoming the norm. Industries like energy and utilities, healthcare, and finance are increasingly adopting cloud-based software solutions for streamlined operations. Data security remains a top priority, with cloud platforms providing advanced security features. Blockchain technology and hybrid architecture are revolutionizing industries, while machine learning and AI are enhancing business management systems and HRM systems. Managed services and consulting services are in demand for implementing these technologies. On-premise deployment and cloud services, including hybrid cloud deployment, are key options for IT and telecom companies. Financial management tools, data analytics, and remote working solutions are essential for businesses. Security software, computing devices, and information systems are crucial for secure transactions and network protection against cyber threats. E-commerce and internet communication are driving digital transformation. 

Insights on how AI is driving innovation, efficiency, and market growth- Request Sample!

Market Challenges

The software industry has undergone significant changes, starting as a service-focused sector, then shifting to a product-focused industry, and now transitioning into a hybrid model. Traditional licensing models like single-user and concurrent-user licenses were common in corporate applications. However, concurrent-user licensing is gradually being replaced. Usage-based licensing is gaining popularity, but perpetual licensing continues to be the preferred strategy. This shift has led to high license and maintenance costs, which may impede the growth of the global software market in the forecast period.The software market is facing numerous challenges in today’s business landscape. With the rise of remote work, ensuring secure access to information systems and networks is crucial. Security software, including antivirus and firewalls, is essential to protect against cyber threats. Computing devices and internet communication must be secure for transactions to be safe. Access management and data protection are key concerns for businesses, particularly those using e-commerce, AI, IoT, and cloud-based solutions. Large enterprises must adhere to security standards and implement business process automation. Network security is vital to guard against cybercrimes, while system-level security risks cybersecurity software. Zero Trust security architecture and access control are essential tools for mitigating risks. Enterprise Resource Planning (ERP), Customer Relationship Management (CRM), and Supply Chain Management (SCM) software must be secure. Cloud-based solutions offer flexibility but come with their own unique challenges. IT and telecom industries are prime targets for cyberattacks. Staying updated with the latest cybersecurity tools is essential to stay ahead of threats.

Insights into how AI is reshaping industries and driving growth- Download a Sample Report

Segment Overview 

This software market report extensively covers market segmentation by

Type 1.1 Subscriptions1.2 Identity and access management1.3 Endpoint/network/messaging/web security1.4 Risk managementDeployment 2.1 Cloud-based2.2 On-premisesGeography 3.1 North America3.2 Europe3.3 APAC3.4 South America3.5 Middle East and Africa

1.1 Subscriptions-  The software market continues to grow, with businesses increasingly relying on technology to streamline operations and enhance customer experience. Software solutions offer efficiency, automation, and data analysis capabilities, making them essential tools for modern organizations. Companies invest in software to improve productivity, reduce costs, and gain a competitive edge. The market caters to various industries, providing customized software to meet specific business needs. Software vendors offer ongoing support and updates to ensure optimal performance and security. Overall, software plays a crucial role in driving business success.

Download complimentary Sample Report to gain insights into AI’s impact on market dynamics, emerging trends, and future opportunities- including forecast (2024-2028) and historic data (2018 – 2022) 

Research Analysis

The software market is experiencing significant growth due to the increasing shift towards remote work and the need for secure information systems. With the rise of computing devices and internet communication, transactions are increasingly being conducted online, making security software a must-have. Networks and access management are crucial components of information systems, and data and network protection are essential for cybersecurity. Cybersecurity is a top priority as cyber threats continue to evolve, with cybersecurity software solutions becoming increasingly important. Business process automation and network security are key areas of focus, with Zero Trust and Cloud platforms leading the way. Cloud-based software solutions, blockchain, hybrid architecture, artificial intelligence, and machine learning are also driving innovation in the software market. Business management systems, HRM systems, healthcare, and finance are among the industries that heavily rely on software solutions for efficient operations. Access control and system-level security risks are critical concerns, and cybersecurity software is essential for mitigating these risks. Overall, the software market is dynamic and ever-evolving, with new technologies and trends emerging constantly.

Market Research Overview

The software market is a dynamic and ever-evolving industry that caters to the needs of businesses and individuals in various sectors. With the rise of remote work and the increasing reliance on computing devices and information systems, the demand for secure and efficient software solutions. Internet communication, transactions, and networks have become essential, leading to a growing need for access management, data protection, and network protection. Cybersecurity has become a top priority, with cyber threats constantly evolving and targeting businesses of all sizes. Software solutions encompass application software, system infrastructure software, development software, and deployment software, among others. E-commerce, AI, IoT, and cybercrimes are driving innovation in the market, with ERP, CRM, SCM, and cloud-based solutions becoming increasingly popular. IT and telecom industries are major consumers of software, with large enterprises leading the way in adopting security standards and business process automation. Cybersecurity software, including tools for access control, system-level security risks, and zero trust security architecture, is a critical component of the software market. Cloud deployment, hybrid architecture, machine learning, and business management systems are also key areas of focus. Energy and utilities, healthcare, finance, and human resources are just a few industries that benefit from the latest software trends, including blockchain, cloud platforms, and data analytics. Managed services and consulting services are also essential components of the software market, offering businesses expert guidance and support in implementing and optimizing their software solutions.

Table of Contents:

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

TypeSubscriptionsIdentity And Access ManagementEndpoint/network/messaging/web SecurityRisk ManagementDeploymentCloud-basedOn-premisesGeographyNorth AmericaEuropeAPACSouth AmericaMiddle East And Africa

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/

View original content to download multimedia:https://www.prnewswire.com/news-releases/software-market-to-grow-by-usd-27-2-billion-from-2024-2028–driven-by-rising-enterprise-data-volume-ai-powered-market-evolution–technavio-302282255.html

SOURCE Technavio

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

Hilco Global Engaged by Stan Lee Holdings to Sell Rare & Valuable Intellectual Property Portfolio

Published

on

By

NEW YORK, July 24, 2026 /PRNewswire/ — Hilco Global, a diversified financial services company that delivers expert professional services and capital solutions to help clients maximize value and drive performance across the business lifecycle, is pleased to announce that its IP Services practice has been engaged by Stan Lee Holdings, Ltd. (“SLH”) to sell a legendary portfolio of intellectual property developed by Stan Lee, the iconic “father of the super hero.” Known as the Omniverse Collection created by Stan Lee, the portfolio represents a treasure trove of original characters and source material developed by Stan when he was leading Marvel Comics and when he built Stan Lee Entertainment – the first super hero animation studio created for the Internet age. This rare and valuable collection of Intellectual Property encompasses dozens of compelling super heroes and stories conceived by Stan from 1999 to 2001 as well as a franchise comprising over 50 well-known characters – the only franchise of Marvel-created characters not owned by Marvel. Full details of the collection, including the individual characters, franchises, and story properties it comprises, will be released in the coming weeks.

Through this collaboration, Hilco Global will work alongside SLH and former EVP of Marvel Entertainment Shirrel Rhoades to find a new home for a body of largely underleveraged super hero and other characters, as well as world-building intellectual property. Numerous supporting  scripts, episodes, and development materials spanning Stan Lee’s career are also part of the offering.

“The Omniverse Collection created by Stan Lee is one of the most significant super hero IP offerings of the decade,” said Eric Hurwitz, Senior Director of the Hilco Global IP Services practice. “This large, diverse portfolio presents the opportunity to capitalize on untapped material with an unmatched pedigree. A buyer essentially has a blank slate to bring these characters to fans worldwide and expand on Stan Lee’s legacy. Hilco Global is thrilled to bring these assets to market, leveraging deep experience across intellectual property and media valuation, licensing, and transaction execution.”

Among the intellectual property being offered is a hidden gem; a connected entertainment universe of Stan Lee’s own creation. “This one-of-a-kind IP collection illustrates just how far ahead Stan was in understanding the future of entertainment,” observed Shirrel Rhoades, who was handpicked by Stan Lee to succeed him as publisher of Marvel. “What we’re bringing to market isn’t a collection of isolated ideas. It’s pieces of one larger vision, a living digital universe in which characters can be created, experienced, and expanded across every form of media.”

Parties can reach out to Ehurwitz@hilcoglobal.com to register interest. More information about the offering, the individual properties within the collection, and the sale process will become available soon.

About Hilco Global:  Hilco Global, a subsidiary of ORIX Corporation USA, is a diversified financial services company that delivers integrated professional services and capital solutions that help clients maximize value and drive performance across the retail, commercial and industrial, real estate, manufacturing, and intellectual property sectors. Hilco Global provides a range of customized solutions to healthy, stressed, and distressed companies to resolve complex situations and enhance long-term enterprise value. Hilco Global works to deliver the best possible result by aligning interests with clients and providing strategic advice and, in many instances, the capital required to transact. Hilco Global is based in Northbrook, Illinois and has more than 810 professionals operating on four continents. Visit www.hilcoglobal.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/hilco-global-engaged-by-stan-lee-holdings-to-sell-rare–valuable-intellectual-property-portfolio-302834149.html

SOURCE Hilco Trading, LLC

Continue Reading

Technology

GR0 to Acquire Ultimate AI’s Deployment Division and Launch GR0 AI, Turning Brands’ Existing Customer Data Into Revenue

Published

on

By

The new company pairs GR0’s performance marketing distribution with Ultimate Deployment’s AI agents and customer intelligence to build AI revenue systems for DTC and ecommerce brands; in one early deployment, AI-led customer conversations were associated with more than $350,000 in sales.

LOS ANGELES, July 24, 2026 /PRNewswire/ — GR0, the Los Angeles-based digital marketing agency, today announced plans to acquire Ultimate Deployment and launch GR0 AI, a new company that builds and deploys AI revenue systems for direct-to-consumer (DTC) and ecommerce brands. GR0 AI combines GR0’s performance marketing expertise, client relationships and sales infrastructure with Ultimate Deployment’s technology and experience deploying AI agents inside operating businesses.

“AI is creating an entirely new performance channel for brands,” said Jon Zacharias, co-founder and president of GR0. “Most companies already have the traffic, customer data and demand. What they’re missing is an intelligent system that knows who to contact, what to say and when to say it. GR0 AI turns the customer signals brands already own into personalized conversations and measurable revenue.”

The approach is already producing results. In one early deployment, AI-led customer conversations were associated with more than $350,000 in sales during a period in which the brand generated approximately $1 million in total revenue. GR0 AI deployments include attribution and incrementality reporting so brands can measure both assisted and directly generated revenue.

GR0 AI deploys inside a brand’s existing commerce, CRM, email, SMS, phone and customer-data infrastructure. Its systems:

Identify and prioritize high-intent customers and prospects Personalize outreach and follow-up based on customer behavior and company data Conduct two-way conversations across messaging channels, recovering revenue from abandoned carts, dormant customers and unconverted leads Escalate complex or high-value opportunities to human sales and support teams Measure the revenue associated with AI-driven interactions

“Most brands do not have a demand problem.  They already have thousands of customers and prospects sitting inside their systems,” said Ben Ganz, founder of Ultimate Deployment. “We build the company brain, unify the data and deploy AI employees that act on that intelligence. The opportunity falls into two buckets: recover the demand a brand has already earned, and make sure no new opportunity slips through the cracks. GR0 gives us the distribution, market access and operating experience to bring this to hundreds of brands.”

Ganz has spent his career at the intersection of entertainment and technology. He began as a producer on American Idol before moving into digital leadership at Fox, then founded VEGO Pictures, a digital production and technology company that worked with major entertainment and consumer brands and served as in-house production partner to Kevin Hart’s Laugh Out Loud Network. He also co-founded a virtual events company that produced digital graduation experiences for hundreds of thousands of students during the COVID-19 pandemic.

From there, Ganz and his team moved to the frontier of consumer AI, creating what FOX News called Hollywood’s first AI interactive voice experience. They powered AI personalities for creators with a combined audience of 100 million followers and engineered the world’s first AI assembly line for replicating personalities at scale, work the Hollywood Reporter recognized as the “Real-life Her.”  Ultimate Deployment then turned that conversational AI expertise toward the enterprise, building systems that connect company knowledge, customer data, and operational software with AI agents capable of performing real, meaningful business work.

“Ben and his team have built something with the potential to become a major new revenue channel for ecommerce companies,” Zacharias said. “We have seen very few offerings create this level of excitement among sophisticated performance marketers.”

Every GR0 AI engagement begins with an intensive discovery and implementation process: the team interviews key employees, maps the company’s systems and builds a centralized intelligence layer around the business. Lead scoring and prioritization are connected to the brand’s CRM before customer-facing AI agents go live.

“The technical opportunity is clear, and our job is to make it just as clear commercially,” said Kevin Miller, founder and CEO of GR0. “A brand that works with GR0 AI will know exactly what is being installed, how quickly it goes live and what revenue it is producing.”

The acquisition is expected to close this quarter, subject to completion of definitive agreements. Financial terms were not disclosed.

Brands interested in early GR0 AI deployments can learn more at www.gr0.com.

About GR0

GR0 is a full-service digital marketing agency that helps DTC and ecommerce brands accelerate growth through data-driven performance marketing, creative strategy and emerging technology. Co-founded by Kevin Miller and Jon Zacharias, GR0 provides services across SEO, Generative Engine Optimization, paid media, email, SMS, creative, affiliate and marketplace growth, and was among the first agencies to build a dedicated GEO practice, which is recognized by VentureBeat as one of America’s premier Generative Engine Optimization agencies. GR0 is headquartered in Los Angeles. Learn more at GR0.com.

About Ultimate Deployment

Ultimate Deployment builds AI employees for growing companies. Founded by Ben Ganz, the company captures how a business operates, organizes its institutional knowledge, connects its systems and deploys AI agents that perform real operational work across sales, customer experience, marketing, finance and internal teams.

Before its enterprise focus, Ultimate Deployment’s team built consumer AI at entertainment scale, creating Hollywood’s first interactive voice experience, powering AI personalities for creators with a combined audience of 100 million followers and engineering the world’s first AI assembly line for replicating personalities’ work featured by Fox News and recognized by The Hollywood Reporter as the real-life Her.

About Ultimate AI

Ultimate AI, founded by Ben Ganz, is a holding company building AI across consumer and enterprise. It launched during the first wave of consumer generative AI as an early AI super app, bringing more than 100 AI tools and assistants into a single consumer platform that peaked within the top 10 of its Apple App Store category, according to company data. The company then expanded into creator AI, developing technology that lets public figures build interactive AI experiences around their personality, voice, knowledge and content. In 2024, Ultimate AI created Pookie Tools (widely known as the Hawk Tuah AI app), whose launch generated more than 400 million organic social media views and more than 10,000 downloads in its first seven days with no paid marketing, according to company data. It went on to develop real-time voice and personality products, including an experience Fox News described as Hollywood’s first real-time AI experience.

Ultimate Deployment, the enterprise arm that GR0 is acquiring, formed in March 2026 following the release of frontier agentic models from Anthropic and OpenAI, and applies that technology inside operating companies. It builds AI employees that capture how a business operates, unify its data and systems, and perform real operational work across sales, customer experience, marketing, finance and internal teams.

Company: GR0
Media Contact Name: GR0 Agency
Media Contact Email: press@gr0.com
Phone: +1 (310) 439-1887
Address: Los Angeles, CA, USA
Website: https://gr0.com/

View original content to download multimedia:https://www.prnewswire.com/news-releases/gr0-to-acquire-ultimate-ais-deployment-division-and-launch-gr0-ai-turning-brands-existing-customer-data-into-revenue-302833764.html

SOURCE GR0.com LLC

Continue Reading

Technology

Tech Mahindra and Cisco Partner to Bring AI-Driven Security Service Edge to Global Enterprises

Published

on

By

PUNE, India, July 24, 2026 /PRNewswire/ — Tech Mahindra (NSE: TECHM), a leading global provider of technology consulting and digital solutions to enterprises across industries, announced a partnership with Cisco to deliver an AI-driven Security Service Edge (SSE) offering for global enterprises. The joint offering will help enterprises reduce security complexity, improve visibility and control, deliver seamless user access, and strengthen resilience as they scale cloud, hybrid work, and AI adoption.

The partnership combines Tech Mahindra’s global managed services, integration, and delivery expertise with Cisco’s industry-leading Security Service Edge (SSE) platform (Cisco Secure Access) to provide unified, cloud-native security and seamless zero-trust access across users, devices, networks, and locations. For Tech Mahindra, the partnership strengthens its cybersecurity portfolio with differentiated, high-value managed security services, expands its addressable market, and accelerates pipeline growth in cloud security.

Saket Singh, SVP & Business Head – Digital Core Services (Cloud, Infrastructure, Network and Cyber Security Services), Tech Mahindra, said, “As enterprises increasingly operate in hybrid and distributed environments, security must evolve from siloed controls to unified, cloud-native platforms. Fragmented tools, inconsistent user experiences, and rising threats are creating visibility and control gaps as applications are accessed from anywhere. Through our partnership with Cisco, we are combining advanced SSE capabilities with Tech Mahindra’s managed services expertise to simplify operations, strengthen zero-trust enforcement, and deliver consistent, AI-powered protection at scale.”

By integrating a secure web gateway, cloud access security broker (CASB), zero trust network access (ZTNA), firewall-as-a-service, data loss prevention (DLP), and much more into a single platform, the offering simplifies security operations and delivers AI-powered protection. Enterprises benefit from end-to-end visibility, faster deployment, and a streamlined path to modernizing their security architecture while accelerating secure cloud adoption and cyber resilience. Additionally, as enterprises inevitably step into the agentic era, this solution provides robust and rapidly expanding protections for the use of generative AI and AI agents.

Raj Chopra, SVP & Chief Product Officer, Cisco Security Business Group, said, “Enterprises don’t need another tool to stitch into an already complex security stack. They need a simpler way to secure how work actually happens across users, devices, applications, clouds, and increasingly AI agents. Cisco Secure Access brings zero trust, identity context, and AI-powered protection into one cloud-delivered platform, helping teams enforce policy consistently while giving users seamless access from anywhere. Together with Tech Mahindra’s global managed services and integration expertise, we can help organizations modernize security operations, accelerate secure cloud and AI adoption, and move with confidence in the agentic era.”

The integrated SSE solution reinforces Tech Mahindra and Cisco’s leadership in unified cloud-security, helping enterprises simplify secure access, strengthen resilience and accelerate digital transformation in an increasingly distributed and AI-driven world.

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/tech-mahindra-and-cisco-partner-to-bring-ai-driven-security-service-edge-to-global-enterprises-302834077.html

SOURCE Tech Mahindra

Continue Reading

Trending