What is Independent Software Vendors
Independent software vendors (ISVs) develop and market software applications designed to run on one or multiple computer hardware or operating system (OS) platforms. These vendors often collaborate with hardware, software, or cloud platform providers to offer their software products. For hardware, ISVs tailor the software to a specific vendor's hardware platform and the operating systems supported by the platform.
With the rise of cloud computing, ISVs have increasingly leveraged cloud technology to deliver software. Many ISVs now offer their software products through a software-as-a-service (SaaS) model. This method involves selling software products through a public cloud or cloud marketplace.
The Evolving Landscape of Independent Software Vendors (ISVs) in the Digital Age
Independent software vendors (ISVs) continuously innovate and strive to create value for customers by developing products that offer an enhanced user experience. In today's era of digital disruption, companies are increasingly prioritising process innovation to stay ahead of the competition. ISVs are investing in product architectures that are scalable, cost-effective, and reliable to meet the growing demands of customers.
As digital technologies continue to evolve, companies in the independent software vendors market are investing in the right mix of digital tools to gain a competitive edge over their peers. The market is largely fragmented, with emerging players accounting for a significant revenue share. Independent software vendors are placing a high emphasis on acquiring skilled software developers and building their credibility by adhering to government regulations and guidelines.
Drive Growth in Independent Software Vendors Market
The independent software vendors (ISVs) market is rapidly growing due to the increasing volume of products and services sold for and through cloud platforms. Major companies collaborate with financial entities to capitalise on exponential cloud deployment and expand their revenue streams. The revenue of financial services applications is projected to experience aggressive growth, and the ISVs market is expected to reach a value of US$ 4,077.72 Bn by 2027.
Strategic collaborations enable ISVs to focus on their core offerings to financial institutions through innovative cloud platforms, allowing them to establish a trusted technology ecosystem that meets stakeholders' requirements. This trend is expected to continue driving growth in the ISVs market.
Conclusion
With the increasing volume of products and services sold through cloud platforms, ISVs benefit from strategic collaborations to establish a trusted technology ecosystem and offer their core offerings to financial institutions. Companies in the ISVs market invest in scalable, cost-effective product architectures and the right mix of digital technologies to stay competitive.
Author's Detail:
Supriya R Ghadge, LinkedIn
I am working as a Senior Research Analyst, mainly involved in conducting market research in the Information and Communication, and Technology domain. Skilled in Secondary Research, Primary Research, Data Analytics Research approaches with extensive experience providing first-class results. Highly focused, have analytical skills, and synergetic with positive energizers. Meets job demands and deadlines through diligent work-ethic and dedication to quality. Works with clients to determine requirements and provide excellent service.