The software market in recent times has grown from being an ordinary phase of the world of computers into a multi-billion dollar industry, basically, facts have proven that the rich tech companies in our modern society have built an empire on the values of Software
What is the relevance of Software
Currently, the development of software has moved from being the basic unseen component of our computers and mobile device to actually becoming the very functional aspect and the motivational factor for owning these devices in the first place, as they are the reason we get our desired output.
However, with the development and gradual acceptance of Artifical Intelligence and IoT software will effortlessly prove itself as the future as more devices and appliances both domestic and commercial are now tailored towards the era of “smartness” which is more machine based and less of human emotional connections. If you take a backseat to consider the pace at which this industry is growing then there might be no clear forecast for the growth the industry would have attained in 10 years to come.
Today, most of the biggest Tech companies in the world are within the software market and they confidently boast of huge billion dollar turnover in revenue acquisition over the years.
In a 2017 report about the growth of the Microsoft empire, the brand made it clear that its goodwill fund of $5.1 billion in hardware development of mobile phones did not yield as much profit as expected, this certainly explains the importance of Software the growth of the business. However, bad it might seem for the software company, it delivered $90.0 billion in revenue and $22.3 billion in operating for the year and currently has Windows 10 actively running on more than 500 million devices around the world. Less can be said about IBM, Oracle, SAP and Symantec, all which confidently boast of billions of dollar revenue figures.
At the moment, the creation of software most especially Apps for Smartphones have become more flexible, with the increment in the accessibility of Programming toolkit, which now essentially boils down to anyone with access to a computer and the internet and with the time and will to learn.
However, when considering the Operating Systems market, this is not the case, as conducts, upgrades, and production of these OS are dictated and dominated again by large companies and very few ones at that. Currently, the Smartphone OS market is dominated by Google’s Android system which has about 85% of the market share volume of the total market share of volume and is followed at some distance by Apple with iOS which has about 21% of the total market share of voice.
When it comes to the tablet operating system market, Apple has been able to hold out their lead much longer against Android, with these two companies again dominating the landscape.
In the world of PCs, Microsoft is, of course, the big name with a combined market share of over 80 percent with their various windows products and services.
Mobile Operating System in Nigeria Per Share of Voice
It has been made clear that Google’s Android controls and dictates the pace of the Smartphone industry, but narrowing it down to the Nigerian context will be a lot more effective. Using infographics and text.
Based on the above, within a span of 12 months the Nigerian market has been dominated by Google’s Android system and one of the most evident reasons is the fact that these devices are more flexible to use, they have more brands producing and are sold at a variety of prices to suit the needs of the everyday Nigerian and also the available internet connectivity.
However, when we consider the iOS graphical representation of the Nigerian market, it is easiest to conclude that Apple has not really made a lot of profit despite the fact that a lot of Nigerians use iPhones, iPads, and Macbooks as much as Android devices have made in the Nigerian market.
While Android OS has barely recorded below a 50% market share of voice in the Nigerian market, Apple has only been able to slightly pitch above the 40% market mark in the Nigerian market ecosystem, which is an indication for potential mobile software investors to channel their funds towards developing more android friendly Apps due to a wider reach of potential end users.
Software especially mobile Apps based on Android platforms have proven to be the future of the Nigerian market. While it is projected that invariably the mobile App market will gross a total income of 188.9 billion US dollars revenues via app stores and in-app advertising by 2020, it is advisable for investors to own and tap into more gaming platforms, dating platforms as well as news platforms. As forecast holds that Tinder holds a high percentage of the market earning this year 40 million U.S. dollars in-app revenues.
Sadly based on reports by the National Institute of Technology NIT the country holds a laid back position in the software creation market despite being one of the largest users of the internet in Africa. Despite employing an estimate of 2 million Nigerians into the IT industry, the country still relies on over 95% of Software importation to run smoothly in terms of ICT.
Thus, Nigeria might have to set a new standard for growth and development in this sector has it is evidently a long-time source of income for individuals as well as business and the country in this era of AI and IT growth.