According to Technavio, the Independent Software Vendors (ISVs) Market is set to grow by USD 2,058.15 billion with a CAGR of 14.73% from 2023 to 2028. A major factor contributing to this growth is the surge in enterprise data. Rapid technological advancements in artificial intelligence (AI) and the Internet of Things (IoT) have increased cloud computing traffic, leading to a rise in both the complexity and quantity of data produced. This has resulted in greater demand for advanced analytics and storage systems. Additionally, the increasing adoption of cloud computing is driving market growth. SaaS (Software as a Service) platforms are being utilized by organizations for tasks such as video management, biometric information storage, and big data processing. The flexibility and scalability offered by cloud-based technologies, coupled with AI and machine learning (ML) integration, allow businesses to optimize their productivity and efficiency.

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