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Language Learning Software Developers

Operators in the Language Learning Software Developers industry create language learning software that includes features such as speech recognition technology, online practice sessions with native speakers and language learning games.

Over the past five years, the industry has expanded greatly.

Long-term trends such as globalization, immigration and internet connectivity, caused revenue to climb.

Rising per capita disposable income has also benefited the industry by providing consumers with the income they need to purchase industry products, which may be viewed by many consumers as discretionary items.

Over the five years to 2019, industry revenue is expected to climb at an annualized rate of 11.5% to $3.1 billion, including a 7.3% increase in 2019 alone.

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Operating Systems and Productivity Software Publishing

Operators in the Operating Systems and Productivity Software Publishing industry develop and publish operating systems and productivity software products that are necessary for computer usability.

Industry software often comes preinstalled on new computers and similar devices, so industry revenue correlates with new device sales.

As technology has become more intertwined with daily life over the five years to 2021, industry demand has grown.

Total revenue expanded as sales to both consumers and businesses increased during the period, driven by higher disposable income levels and extensive private investment in computers and software.

Altogether, industry revenue increased at an annualized rate of 9.5% to $130.2 billion over the five years to 2021.

The COVID-19 (coronavirus) pandemic affected key upstream industries and consumers in 2020 and 2021.

Consumer spending and private investment levels dropped last year, culminating in reduced industry revenue growth of 6.4% and 3.9% in 2020 and 2021, respectively.

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Point of Sale Software Developers

The Point of Sale Software Developers industry, which facilitates sales of goods and services, has experienced strong growth over the five years to 2020.

During the period, total industry revenue is anticipated to increase at an annualized rate of 12.2% to reach $2.8 billion, including 9.8% growth in 2020 alone.

Industry operators have benefited from a growing reliance on computers in downstream markets, including retailers, wholesalers and hospitality and food service businesses, among others.

The emergence and adoption of new technologies and the changing retail landscape have also benefited revenue growth.

Trends such as near-field communications (NFC), self-checkout counters, sensors, data analytics and the integration of point of sale (POS) systems with back-end software systems have provided the industry with a platform for robust growth.

Furthermore, new software applications and hardware devices have enabled small operators to more easily afford POS systems that provide similar functionality to large and expensive terminals.

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Insurance Claims Processing Software

The Insurance Claims Processing Software industry has transformed insurance claims handling, previously a labor-intensive process, over the past decade.

Industry operators market their products, which are used to process insurance claims and manage policies, primarily to the Property, Casualty and Direct Insurance industry (Research

report 52412) and the Life Insurance and Annuities industry (52411a).

Property and casualty (P&C) insurers and life insurers seek to differentiate themselves in their competitive environments by using industry products, which are designed to streamline operations, reduce process complexity and costs, manage compliance with new regulations and increase customer satisfaction.

Therefore, industry revenue has declined an annualized 0.4% to $9.3 billion over the five years to 2020, including a decline of 16.7% in 2020 alone due to the increased economic and financial uncertainty amid the COVID-19 (coronavirus) pandemic.

Profit is anticipated to decline during the period as well.

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Security Software Publishing

The Security Software Publishing industry develops and distributes antivirus, anti-keylogger, spyware removal, encryption and firewall software.

The explosion of data, internet-enabled solutions and cloud services have all stimulated the industry’s expansion over the five years to 2020.

In addition, high-profile cyber-attacks targeting retailers, financial institutions, credit agencies and healthcare providers, among others, further stimulated demand for industry software.

Consequently, computer, tablet and smartphone users increasingly view security software as necessary, while companies are also investing in security software to avoid heavy financial losses and damaged reputations.

Altogether, industry revenue has increased at an annualized rate of 7.1% to $20.8 billion over the five years to 2020.

In 2020, however, private investment and consumer confidence levels have collapsed as a result of the COVID-19 (coronavirus) pandemic.

This is anticipated to temporarily reduce industry demand in 2020, with revenue projected to fall 1.4% this year.

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Online Survey Software

The Online Survey Software industry develops software for use in market research, product testing and a variety of other customizable uses such as employee satisfaction or consumer preferences.

Industry operators offer clients a product that is less costly to run but also more time efficient, interactive and can be easily integrated with data analytics platforms.

As a result, many companies have reduced their use of traditional market research activities, which rely on physical results collection and often generate lower response rates as well as lower operational efficiency.

Instead, users are increasingly opting to extract feedback using services provided by online survey software companies, at a fraction of the cost.

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