Word Processing Software Global Market Report 2024

The word processing software market size has grown rapidly in recent years. It will grow from $103.44 billion in 2023 to $111.2 billion in 2024 at a compound annual growth rate (CAGR) of 7.5%. The expansion observed during the historical period can be attributed to various factors, including the widespread adoption of personal computers, the introduction of graphical user interfaces (GUI), the proliferation of office suites, the emergence of desktop publishing, the impacts of globalization, and the development of multilingual capabilities.

The word processing software market size is expected to see rapid growth in the next few years. It will grow to $148.99 billion in 2028 at a compound annual growth rate (CAGR) of 7.6%. The anticipated growth in the forecast period can be attributed to several factors, including the widespread adoption of cloud computing, integration of artificial intelligence (AI), increased usage of mobile devices, trends towards remote work, and heightened concerns regarding data security and privacy. Key trends expected in this period include emphasis on collaboration and real-time editing capabilities, adoption of subscription-based models, enhancements in AI and machine learning functionalities, integration with other tools, and a focus on delivering an enhanced user experience.

The expansion of remote work is poised to drive the growth of the word processing software market in the foreseeable future. Remote work entails performing job responsibilities from a location other than a traditional office, facilitated by digital technology and communication tools. The adoption of remote work is increasing as advanced collaboration tools enable teams to efficiently work from anywhere. Word processing software plays a pivotal role in supporting remote workforces by facilitating seamless collaboration, document sharing, and efficient communication among distributed teams. For example, data from the Office for National Statistics in February 2023 revealed that during a specific period when the recommendation to work from home was lifted in Great Britain, approximately 38% of employed adults reported working remotely. In the latest period, about 40% of working adults mentioned having worked from home at least once in the past seven days. Hence, the growth of remote work is fueling the expansion of the word processing software market.

Key players within the word processing software market are directing their efforts towards developing technologically advanced solutions, such as AI-powered word tools, to gain a competitive edge. AI-powered word tools integrate advanced artificial intelligence features into word processing software such as Microsoft Word. For instance, in January 2024, Microsoft, a US-based technology company, introduced Copilot Pro, an upgraded version of its AI-powered tool tailored for power users and content creators. Available in word, excel, PowerPoint, outlook, and OneNote, Copilot Pro provides advanced assistance in writing, coding, designing, researching, and learning. Subscribers can access the latest language models, enhanced AI image creation, and the capability to build custom Copilot GPT models. This premium subscription is offered to Microsoft 365 Personal and Family users.

In February 2024, Duco, a UK-based data automation company, acquired Metamaze for an undisclosed sum. Through this acquisition, Duco aimed to amalgamate its structured data capabilities with Metamaze's expertise in processing unstructured data, establishing a unified platform to automate the entire data lifecycle. Metamaze, headquartered in Belgium, specializes in document and word processing software.

Major companies operating in the word processing software market are Apple Inc., Google LLC, Microsoft Corporation, Adobe Inc., Fiserv Inc., Dropbox Inc., Zoho Corporation Pvt. Ltd., Kingsoft Corporation Limited, The Apache Software Foundation, Quip, Hancom Inc., Corel Corporation, WPS Office Software, Jarte, ThinkFree Inc., SoftMaker Software GmbH, Ascensio System SIA, Atlantis Word Processor, Literature and Latte Ltd., AbiSource Community, Nisus Software, Inc, MobiSystems Inc., The Document Foundation, Writemonkey.

North America was the largest region in the word processing software market in 2023. The regions covered in the word processing software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the word processing software market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Word processing software refers to computer programs designed for creating, editing, formatting, and printing text documents. These applications offer a plethora of features, including spell check, grammar check, text formatting, and the capability to insert images and tables. Widely utilized in both personal and professional contexts for document creation and management.

The primary platform types of word processing software encompass Windows, Macintosh (MAC), iPhone operating system (iOS), and Android. Windows software is tailored for compatibility with the Microsoft Windows operating system, providing a range of applications and tools optimized for the Windows environment, such as productivity suites, multimedia software, development tools, and games. These applications cater to diverse sectors such as healthcare, education, financial services, among others. End users of word processing software include individual users, small and medium-sized businesses, as well as large enterprises.

The word processing software market research report is one of a series of new reports that provides word processing software market statistics, including the word processing software industry global market size, regional shares, competitors with the word processing software market share, detailed word processing software market segments, market trends, and opportunities, and any further data you may need to thrive in the word processing software industry. These word processing software market research reports deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The word processing software market includes revenues earned by entities by providing services such as creating, editing, formatting, and managing text documents. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


This product will be delivered within 3-5 business days.