Spreadsheet Software Market Size, Share, Growth, and Industry Analysis, By Type (Free and Open-source Software and Proprietary Software), By Application (Large Enterprise and SMB) and Regional Forecast to 2032

Updated On: 06 September 2024

• 

  Request a Free Sample to learn more about this report

SPREADSHEET SOFTWARE MARKET REPORT OVERVIEW

The global Spreadsheet Software market size expanded rapidly in 2024 and the market is projected to grow substantially by 2032, exhibiting a prodigious CAGR during the forecast period.

Spreadsheet application is a category of software where information can be inputted, processed, arranged, and retrieved in a grid-like manner and usually consists of rows and columns. Cells that make up the grid can also contain texts, numbers, formulas or a function that is capable of performing calculations and processing data.

COVID-19 Impact: Market Growth increased by Pandemic due to Increased Demand for Remote Work Tools

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

This is because during the spread of the pandemic, many organizations had no alternative but to switch to remote work hence increasing the use of spreadsheet software in the fight against this force by using it as part of the solutions of remote working. Home working meant that employees required tools to deal with data, to communicate and work on tasks, which is why spreadsheets were required.

LATEST TRENDS

"AI and Machine Learning Integration to Drive Market Growth"

Current development trends within the context of the spreadsheet software market is the incorporation of artificial intelligence and machine learning, this has been seen as a major area of development because of the request for smarter means of data analysis. It is essential to note that these technologies are making traditional spreadsheets more dynamic evaluation tools that can handle complicated operations without user interference. Advanced tools such as predictive analysis relies on past performances to enable the user to make proper and well informed decisions.

• 

  Request a Free Sample to learn more about this report

SPREADSHEET SOFTWARE MARKET SEGMENTATION

By Type

Based on type the global market can be categorized into Free and Open-source Software and Proprietary Software.

• Free and Open-source Software- Free and open source spreadsheet software refers to spreadsheet software which is released for an open source license to allow users to operate the software, modify it and distribute it as desired. The source code is open, therefore providing developers the license to add a touch of their personalities to the software being developed.
• Proprietary Software- There are many software packages within proprietary spreadsheet software; they are developed, distributed and owned by a company. Users have to buy the license or subscribe to the service for the software’s use; source code is not open for public contribution.

By Application

Based on application the global market can be categorized into Large Enterprise and SMB.

• Large Enterprise- Spreadsheet software is common in large businesses for effective financial analysis and planning and managing company’s budgets and their projections. Managing operations through spreadsheets allows finance teams to gather financial information collected from different departments for the purpose of analysis of financial trends and preparation of specific financial reports.
• SMB- Most of the small to medium businesses rely on simple trading and accounting tools like the Microsoft Excel to keep track of their earnings and expenditure, accounts payable/receivable as well as produce income statements. It is also useful for small businesses because they are cheap compared to other alternatives of business management software.

DRIVING FACTORS

"Digital Transformation and Automation to Boost the Market"

One of the key driving factors in the global Spreadsheet Software market growth is the Digital Transformation and Automation. The use of spreadsheets in computer software and advanced technology such as digital transformation and automation are the main contributors to the growth of the market. It is during such times that organizations are going through a change process and adopting new technologies that can help reduce the number of steps required in day-to-day operations. Very specially, spreadsheet software is a key tool in this transmutation because it offers a versatile and strong means to data handling, processing, presentation and reporting at a relatively low cost.

"Increasing Data-Driven Decision Making to Expand the Market"

A major factor which is going to fuel the spreadsheet software market is the rise in utilization of data for decision making as most businesses today depend on data for their strategic and operational or any other business related decisions. Since organizations collect and accumulate large amounts of data from different sources, there is increasing demand for applications that could analyze, understand and display such data. One of the most important tools in this process is the ‘spreadsheet software’, with its remarkable potential for data handling, manipulation and data representation tools.

RESTRAINING FACTORS

"Security and Privacy Concerns to Potentially Impede Market Growth"

Risk management of data security and privacy can be considered major threat factors for the growth of the spreadsheet software market owing to the risks involved in data management. Unfortunately, as the use of spreadsheet software, especially cloud-based solutions, becomes a standard in business processes, the problem of unauthorized access and leakage of important information also arises. Spreadsheets hold sensitive information in most organizations, including; financial information; personal records; and exclusive business information; all of which make the spreadsheets attractive targets for hackers.

• 

  Request a Free Sample to learn more about this report

SPREADSHEET SOFTWARE MARKET REGIONAL INSIGHTS

The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa.

"North America Region Dominating the Market due toTechnological Advancements"

North America has emerged as the most dominant region in the global Spreadsheet Software market share due to several factors. North America is normally the largest consumer when it comes to spreadsheet software. This is because the region has a high usage of advanced technologies, presence of major software vendors and high penetration of spreadsheet tools across most business and industry sectors. The regions which are recognized to have a high concentration of organizations and businesses that apply the software for spreadsheets include the United States and Canada.

KEY INDUSTRY PLAYERS

"Key Industry Players Shaping the Spreadsheet Software Market through Innovation and Market Expansion"

The Spreadsheet Software market is significantly influenced by key industry players that play a pivotal role in driving market dynamics and shaping consumer preferences. These key players possess extensive retail networks and online platforms, providing consumers with easy access to a wide variety of Spreadsheet Software options. Their strong global presence and brand recognition have contributed to increased consumer trust and loyalty, driving product adoption. Moreover, these industry giants continually invest in research and development, introducing innovative designs, materials, and smart features in Spreadsheet Software, catering to evolving consumer needs and preferences. The collective efforts of these major players significantly impact the competitive landscape and future trajectory of the market.

List of Market Players Profiled

• Microsoft Office(U.S.)
• LibreOffice(Germany)
• Apache Software Foundation(U.S.)
• Apple(U.S.)
• Mariner Software(U.S.)

INDUSTRIAL DEVELOPMENT

July 2024: The billion-dollar startup GitLab that Google has backed as an investor was considering itself for a sale after it got approached for acquisition.

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated time frame. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.