Global Spreadsheet Software Market Growth Analysis 2024 – Forecast Market Size And Key Factors Driving Growth

Overview and Scope

Spreadsheet software refers to computer programs or applications designed for creating, editing, and analyzing tabular data in a grid format. This software tool allows users to organize data into rows and columns, create charts and graphs, and perform various data analysis tasks.

Sizing and Forecast
The spreadsheet software market size has grown strongly in recent years. It will grow from $10.05 billion in 2023 to $10.79 billion in 2024 at a compound annual growth rate (CAGR) of 7.3%.  The growth in the historic period can be attributed to user interface improvements, increasing adoption of cloud computing, and the emergence of open-source alternatives.

The spreadsheet software market size is expected to see strong growth in the next few years. It will grow to $14.55 billion in 2028 at a compound annual growth rate (CAGR) of 7.8%.  The growth in the forecast period can be attributed to digital transformation initiatives, integration with business ecosystems, and advancements in data analysis and visualization. Major trends in the forecast period include integration with business intelligence tools, enhanced data visualization, integration with ecosystems and APIs (application programming interface), and integration with business intelligence platforms.

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Segmentation & Regional Insights
The spreadsheet software market covered in this report is segmented –
1) By Type: Free And Open-Source Software, Proprietary Software
2) By Pricing Model: One-Time License, Subscription-Based
3) By Deployment: On-Premise, Cloud-Based
4) By Application: Large Enterprise, Small And Medium-Sized Businesses (SMBs), Individuals

North America was the largest region in the spreadsheet software market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the spreadsheet software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

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Major Driver Impacting Market Growth
The increasing adoption of cloud-based solutions is expected to propel the growth of the spreadsheet software market going forward. Cloud-based solutions refer to the software applications, services, or resources that are hosted, managed, and accessed remotely over the Internet. The adoption of cloud-based solutions is increasing due to their accessibility from anywhere with an internet connection, cost-effectiveness, and robust security features. Cloud-based solutions facilitate real-time collaboration in spreadsheet software among users from different locations, enhancing teamwork and information sharing. For instance, in December 2023, according to Eurostat, a Luxembourg-based intergovernmental organization, 45.2% of EU enterprises adopted cloud computing solutions in 2023, marking a 4.2 percentage increase compared to 2021. 75.3% of those enterprises purchased sophisticated cloud services relating to security software applications. Therefore, the increasing adoption of cloud-based solutions is driving the growth of the spreadsheet software market.

Key Industry Players
Major companies operating in the spreadsheet software market are Apple Inc, Google LLC, Microsoft Corporation, International Business Machines Corporation, Oracle Corporation, SAP SE, SAS Institute Inc., Dropbox Inc., Tableau Software, Kingsoft Corporation, MathWorks Inc., Altair Engineering Inc., Smartsheet Inc., Domo Inc, Airtable Inc., Hancom Inc., Corel Corporation, Minitab Inc., Mariner Software, LibreOffice, Thinkfree Corporation, SoftMaker Software GmbH, Polaris Office, Ragic, Apache OpenOffice

The spreadsheet software market report table of contents includes:
1. Executive Summary

2. Spreadsheet Software Market Characteristics

3. Spreadsheet Software Market Trends And Strategies

4. Spreadsheet Software Market - Macro Economic Scenario

5. Global Spreadsheet Software Market Size and Growth
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32. Global Spreadsheet Software Market Competitive Benchmarking

33. Global Spreadsheet Software Market Competitive Dashboard

34. Key Mergers And Acquisitions In The Spreadsheet Software Market

35. Spreadsheet Software Market Future Outlook and Potential Analysis

36. Appendix

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