The North America Business Software And Services Market is expected to witness market growth of 11.0% CAGR during the forecast period (2024-2031).
The US market dominated the North America Business Software And Services Market by country in 2023, and is expected to continue to be a dominant market till 2031; thereby, achieving a market value of $280.90 billion by 2031. The Canada market is experiencing a CAGR of 13.3% during 2024-2031. Additionally, the Mexico market is expected to exhibit a CAGR of 12.4% during 2024-2031.
This refer to a broad range of digital solutions designed to enhance productivity, automate processes, and streamline operations for organizations across industries. These solutions include enterprise software applications, cloud-based services, data analytics tools, cybersecurity solutions, and IT consulting services.
Business software includes applications such as Enterprise Resource Planning (ERP), Customer Relationship Management (CRM), Human Resource Management Systems (HRMS), Accounting Software, Supply Chain Management (SCM) Systems, and Project Management Tools. These solutions help businesses manage various functions, including finance, sales, human resources, inventory, and marketing, through centralized platforms that improve coordination and efficiency.
North America's business software and services market is experiencing strong growth, driven by sector-specific advancements and government-backed initiatives. The aerospace and defense sector in the United States plays a key role in increasing demand for business software solutions. As reported by the International Trade Administration, the aerospace sector in the United States maintains the highest trade balance, amounting to $77.6 billion in 2019, and ranks second in terms of export levels, with a total of $148 billion, among all manufacturing industries. As military and defense contractors focus on enhancing cybersecurity, unmanned systems, and space technologies, software solutions such as AI-powered analytics, cloud-based defense management systems, and predictive maintenance software are becoming essential. The need for efficient patient data management, predictive analytics for disease prevention, and automated billing systems is driving hospitals and clinics to integrate cloud-based healthcare management software. Therefore, the region will present lucrative opportunities for the market.
The US market dominated the North America Business Software And Services Market by country in 2023, and is expected to continue to be a dominant market till 2031; thereby, achieving a market value of $280.90 billion by 2031. The Canada market is experiencing a CAGR of 13.3% during 2024-2031. Additionally, the Mexico market is expected to exhibit a CAGR of 12.4% during 2024-2031.
This refer to a broad range of digital solutions designed to enhance productivity, automate processes, and streamline operations for organizations across industries. These solutions include enterprise software applications, cloud-based services, data analytics tools, cybersecurity solutions, and IT consulting services.
Business software includes applications such as Enterprise Resource Planning (ERP), Customer Relationship Management (CRM), Human Resource Management Systems (HRMS), Accounting Software, Supply Chain Management (SCM) Systems, and Project Management Tools. These solutions help businesses manage various functions, including finance, sales, human resources, inventory, and marketing, through centralized platforms that improve coordination and efficiency.
North America's business software and services market is experiencing strong growth, driven by sector-specific advancements and government-backed initiatives. The aerospace and defense sector in the United States plays a key role in increasing demand for business software solutions. As reported by the International Trade Administration, the aerospace sector in the United States maintains the highest trade balance, amounting to $77.6 billion in 2019, and ranks second in terms of export levels, with a total of $148 billion, among all manufacturing industries. As military and defense contractors focus on enhancing cybersecurity, unmanned systems, and space technologies, software solutions such as AI-powered analytics, cloud-based defense management systems, and predictive maintenance software are becoming essential. The need for efficient patient data management, predictive analytics for disease prevention, and automated billing systems is driving hospitals and clinics to integrate cloud-based healthcare management software. Therefore, the region will present lucrative opportunities for the market.
List of Key Companies Profiled
- Hewlett Packard Enterprise Company
- Microsoft Corporation
- Oracle Corporation
- IBM Corporation
- SAP SE
- Google LLC (Alphabet Inc.)
- Epicor Software Corporation
- ServiceNow, Inc.
- Salesforce, Inc.
- VMware, Inc. (Broadcom Inc.)
Market Report Segmentation
By Deployment
- Cloud
- On-premise
By Enterprise Size
- Large Enterprises
- Small and Medium Enterprises
By Service
- Managed Services
- Support & Maintenance
- Consulting
By Software
- Finance
- Sales & Marketing
- Human Resource
- Supply Chain
- Other Software
By End-use
- BFSI
- IT & Telecom
- Manufacturing
- Healthcare
- Retail
- Government
- Transportation
- Aerospace & Defense
- Other End-uses
By Country
- US
- Canada
- Mexico
- Rest of North America
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 4. Competition Analysis - Global
Chapter 5. North America Business Software And Services Market by Deployment
Chapter 6. North America Business Software And Services Market by Enterprise Size
Chapter 7. North America Business Software And Services Market by Service
Chapter 8. North America Business Software And Services Market by Software
Chapter 9. North America Business Software And Services Market by End-use
Chapter 10. North America Business Software And Services Market by Country
Chapter 11. Company Profiles
Companies Mentioned
- Hewlett Packard Enterprise Company
- Microsoft Corporation
- Oracle Corporation
- IBM Corporation
- SAP SE
- Google LLC (Alphabet Inc.)
- Epicor Software Corporation
- ServiceNow, Inc.
- Salesforce, Inc.
- VMware, Inc. (Broadcom Inc.)
Methodology
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