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1.1 Software and services is the largest knowledge based industry with global sales of products and services of around £200 billion (1996). Global growth is strong and this is set to continue for the foreseeable future and in our opinion represents a major and significant development opportunity.
1.2 The market for packaged software represents slightly more than 50 per cent of the total industry output. Packaged software is more easily distributed internationally compared to much custom software development and services, which are often focused towards more domestic or local markets. The industry is truly global, with the US as the largest market and the largest supplier of software.
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