What is the State of the Software Industry in the World Right Now? As of 2020, the top ten largest software companies in the world are contributing to the global software industry’s outstanding growth. What exactly is software? Software is a collection of computer processes such as application software and operating systems that work together with hardware to provide end-users with a useful product.This could be used to better manage, track, or accomplish jobs, or to compute various computer functions. The worldwide software sector is currently valued at USD 456 billion. Microsoft is the world’s largest computer software firm, with annual revenues of USD 118.2 billion and a market capitalization of USD 946.5 billion.
The purpose of this fact sheet is to help business professionals, investors, and individuals in general who are interested in learning more about the global software industry, including the top software businesses in the world by revenue and market cap.
Overview of the Top IT Companies in the World
According to the most current market study from Gartner, total spending in the international IT industry, which includes IT solutions, data centre systems, business applications, and telecom providers, is expected to reach $3.7 trillion in 2019, up 4.5 percent from 2018. top it companies in world to recover in 2018, with continued rise anticipated over the next few decades.
Software Development’s Importance
It is critical for businesses since it allows them to differentiate themselves from competitors and become more competitive. Client experiences can be improved, more feature-rich and innovative products can be brought to market, and setups may be made safer, more productive, and efficient through software development.
Information may be digitised and stored online, which not only saves space but also unifies and centralises it for quick access by those who require it. It’s also simple to keep your data safe from prying eyes. As the business grows, the pool of data grows in size, and efficiently storing this data becomes a priority for the organisation.
Businesses must create and upgrade their digital organisations in order to continue to provide consistent service for those who use this data. Data analysis also necessitates software development. Businesses can use the data obtained from day-to-day chores, when combined with the correct tools, to keep track of trends among their clients.
12 Biggest Software Companies in the World
1. Microsoft
Microsoft, the ever-popular US-based multinational technology business, is ranked first on the list of the top ten largest software companies in the world in 2020. The corporation is also known as Microsoft Corporation and is known for its Windows operating system, as well as designing, making, licencing, and marketing computer software, consumer electronics, personal computers, and related services.
2. Bill Gates
Bill Gates and Paul Allen started Microsoft in 1975, and the company’s present headquarters are in Redmond, Washington. Microsoft’s annual revenue exceeded USD 118.2 billion, making it the world’s largest software firm by revenue and market capitalization. Additionally, Microsoft was believed to have hit a trillion-dollar market worth in April 2019, making it the third US-based business to do so.
3. Oracle
Oracle Business, an American multinational computer technology corporation headquartered in Redwood Shores, California, comes in second. The company is recognised for offering its own brand of computer database management systems and specialises in the tools needed for enterprise resource planning (ERP), human capital management (HCM), customer relationship management (CRM), and supply chain management (SCM) software.
4. SAP
SAP is one of just two firms not based in the United States on this list of the world’s largest software companies in 2020. SAP is a global software company based in Europe that develops enterprise software to help businesses manage their operations and customer relationships. SAP is headquartered in Walldorf, Baden-Württemberg, Germany, and was formed in 1972, making it one of the oldest software businesses on this list.
5. Salesforce
Where does salesforce fit in the top software companies? Ranking 4th on the list, Salesforce— one of the top software companies worldwide — is an American cloud-based software company headquartered in San Francisco, California. Salesforce is known for offering its widely-used CRM software in addition to a full suite of enterprise applications focused on customer service, marketing automation, analytics, and application development.
6. Adobe
Adobe provides — such as Adobe Photoshop, Illustrator, Premiere, After Effects its software products via subscriptions, product, and services and support. The company was founded in 1982 and has its current headquarters in San Jose — where 40% of its employees work. Last year, Adobe brought in annual revenues of USD 9.5 billion, with a market cap of USD 132 billion.
7. VMware
VMware is an American software company that runs its desktop software on all major operating systems including Microsoft Windows, macOS, and Linux. Dell Technologies owns majority shares in the company currently;y. VMware brought in annual revenues of USD 9.0 billion last year and has a current market cap of USD 77.2 billion — making the company one of the largest software companies in this list of the top 10 software companies in the world by revenue and market cap.
8. Intuit
Another American company and 7th on this list of the top 10 largest software companies in the world, Intuit sells financial, accounting, and tax preparation software and related services for small businesses, accountants, and individuals. One of Intuit’s most popular and recognized products is TurboTax, the tax preparation software package.Intuit brought in annual revenues of USD 6.4 billion last year, with a current market cap of USD 66.8 billion — making it one of the top software companies in the world by revenue and market cap.
9. ServiceNow
ServiceNow is an American cloud computing company and of the top software companies in the world by revenue with last year’s revenues reaching USD 2.6 billion and a current market cap of USD 42.9 billion; ranking 9th in revenue and 8th by market cap in this list of largest software companies sin the world. ServiceNow was founded in 2003 and currently serves over 5400+ customers worldwide.
10. Workday
Rounding out this list of the top 10 largest software companies in the world is Workday, Inc. is an American on‑demand (cloud-based) financial management and human capital management software, vendor. Consistently ranking near the top in companies to work for, Workday’s business model involves selling subscriptions rather than selling software as standalone products.
11. IBM
Its GTS segment is responsible for providing the best IT services to its customers around the world. Process outsourcing and the upkeep of critical client systems and infrastructure are among these services. Consultancy, project management solutions, and system integration are all handled by its GBS section. Because of their reliance on mainframes for security and uninterrupted and fast processing of financial transactions, more than 92 percent of the world’s top 100 banks now require IBM’s services.
12. Accenture
Accenture plc, originally known as Anderson Consulting, was formed in 1989 when it split from Arthur Anderson, the accounting firm for which it had previously served as the business and technology consulting branch.
In 2001, the two companies severed all contractual relations. Accenture is a well-known multinational professional service and management consulting corporation that offers the best IT services, consulting, digital marketing, operations solutions, BPO, IT, electronic, and cloud services.
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