LONDON--(BUSINESS WIRE)--SpendEdge, a global procurement market intelligence firm, has announced the release of their Global Software Maintenance Category - Procurement Market Intelligence Report.
The extensive digitization of the business infrastructure is creating the podium for the implementation of software applications that are aimed at enhancing customer experiences. However, the functionality of these applications is highly dependent on their regular upgrades and maintenances. This requirement is creating an exponential demand for software maintenance services across the geographies. Most enterprises prefer outsourcing software maintenance services to reduce management complexities and decrease OPEX. This trend will also fuel the spend growth of the software maintenance market during the forecast period. However, the increasing expenses incurred by suppliers to hire and retain skilled professionals will have an inflationary impact on the price of procuring software maintenance services. Download the free sample of this market intelligence report on software maintenance here!
North America holds the largest share in the overall market owing to the positive outlook of the healthcare and BFSI industries that are leveraging software maintenance services to upgrade their IT applications. The proliferation of small- and medium-sized businesses that develop mobile applications will require regular upgrades of their software, which will continue creating substantial demand for software maintenance services in the region. The increasing trend of outsourcing software maintenance services to reduce organizational spend on in-house teams of experts and decrease the time-to-market of their products will bring maturity in the market in Europe while driving its spend growth.
This software maintenance market intelligence report offers a detailed overview of the key cost drivers and category management insights that can aid in devising sustainable software maintenance pricing models. This report also highlights the current supply market developments to help the buyers choose the appropriate vendors who can promise a steady supply assurance along with quality solutions. Not what you are looking for? Request for personalization of this market intelligence report on software maintenance.
“Engaging with suppliers over long-term contracts can facilitate buyers with long-term costs savings and optimize spend on software maintenance,” says SpendEdge procurement expert Tridib Bora.
This market intelligence report on software maintenance has highlighted the following factors to play critical roles in influencing category spend. They include:
- Spend will be driven by high demand from BFSI and healthcare
- Category stands a high risk from rising labor costs
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SpendEdge’s procurement market intelligence reports for the information technology category offer information on critical cost drivers and category pricing strategies to help the buyers achieve significant cost-savings. The supply market forecasts offer information on supplier performance benchmarking criteria to help buyers reduce spend and establish better SLAs. Additionally, SpendEdge’s reports offer category management insights and procurement best practices for the category.
Report scope snapshot: Software maintenance
- Market favorability index for suppliers
- Competitiveness index for suppliers
- Software maintenance pricing models
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Category management enablers
- Procurement organization
- Category enablers
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- Category hierarchy
- Category scope
- Category map
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