Tech content trusted by users in North America and around the world
7,299 Reviews & Articles | 53,274 News Posts

Software vendors rapidly growing despite subscription-based worries

Software companies are growing massively, despite concerns of cloud software beating them down
By: Chris Smith | Software News | Posted: Sep 12, 2015 11:27 am

Although many companies have started rolling out subscription-based cloud versions of software, a study involving 100 software vendors showed that over the last 12 months, the revenue gains have been the biggest since 2008's recession.

 

software-vendors-growing-despite-subscription-based-worries_050

 

Released by the Software & Information Industry Association and OPEXEngine, these findings pointed out that small and medium software business' have been hiring staff at a higher rate currently than seen before, analyzing companies mainly in the private business-to-business and Software as a Service sector.

 

Other findings indicate that these firms have seen an average growth of 55 percent over 2014, expanding on last year's 42 percent. The top 25 percentile of business' have fared even better, seeing a massive 150 percent growth, compared to a previous growth of 100%. Staff hiring rates have been boosted up to a 32 percent average, with some rapidly-expanding companies looking to increase total employee's by a massive 43 percent.

 

OPEXEngine claims this growth is due to venture capital money growth, increased sales and larger marketing budgets.

NEWS SOURCES:Zdnet.com

Related Tags

Got an opinion on this news? Post a comment below!
loading