Overview and Scope
Software consulting refers to the process of determining a company’s software requirements and developing technology to support a company’s operations. It enables IT specialists to offer insightful commentary on software and e-commerce. It is helpful to discuss about the software used at work because it may assist them comprehend crucial software upgrades or practical technology that employees may use.
Sizing and Forecast
The software consulting market size has grown strongly in recent years. It will grow from $243.13 billion in 2023 to $264.14 billion in 2024 at a compound annual growth rate (CAGR) of 8.6%. The growth in the historic period can be attributed to increasing complexity of software solutions, business process optimization needs, digital transformation initiatives, evolving regulatory compliance requirements, demand for expertise in emerging technologies.
The software consulting market size is expected to see strong growth in the next few years. It will grow to $385.54 billion in 2028 at a compound annual growth rate (CAGR) of 9.9%. The growth in the forecast period can be attributed to focus on cybersecurity consulting, remote work and collaboration tools, strategic it planning and alignment. Major trends in the forecast period include blockchain integration, focus on user experience (UX) design, remote work solutions, evolving regulatory compliance services, subscription-based and SaaS models.
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Segmentation & Regional Insights
The software consulting market covered in this report is segmented –
1) By Type: Enterprise Solutions, Application Development, Migration and Maintenance Services, Design Services
2) By Enterprise Size: Large Enterprise, Small & Medium Enterprise
3) By End-Use Industry: Automotive, Education, Government, Healthcare, IT and Telecom, Manufacturing
North America was the largest region in the software consulting market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the software consulting market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The increase in adoption of cloud computing drives the growth of the software consulting market going forward. Cloud computing refers to the delivery of computing services, including storage, processing power, and applications, over the internet. Software consulting drives increased cloud adoption by offering expertise, guidance, and tailored solutions to organizations seeking to leverage the benefits of cloud technologies. For instance, in April 2023, according to the report published by European Commission, a Belgium-based Governing body, in 2023, 42.5% of EU businesses purchased cloud computing services, primarily for office software, file storage, and email. Further, in 2023, there was a 4.2 percentage point increase in the share of EU firms purchasing cloud computing services compared to 2021. Therefore, the growing adoption of cloud computing is driving demand for software consulting services market growth.
Key Industry Players
Major companies operating in the software consulting market report are Accenture plc, International Business Machines Corporation, PricewaterhouseCoopers B.V., Oracle Corporation, SAP SE, Capgemini SE, Cognizant Technology Solutions Corporation, Infosys Technologies Private Limited, Klynveld Peat Marwick Goerdeler Co, Atos SE, CGI Group Inc., McKinsey & Company, Tech Mahindra Pvt Ltd., Bain & Company, LTIMindtree Limited, FTI Consulting, Grant Thornton International Ltd., Global eProcure, Mphasis Ltd., HCL Technologies, Hexaware Technologies Ltd., BearingPoint Europe Holdings B.V., Western India Palm Refined Oils Limited, Trianz Holdings Private Limited, Zensar Technologies Limited, BJSS Ltd., Clearfind, Virtusa Consulting Services Private Limited, Rapport IT Services Pvt Ltd., Convedo Group
The software consulting market report table of contents includes:
1. Executive Summary
2. Software Consulting Market Characteristics
3. Software Consulting Market Trends And Strategies
4. Software Consulting Market – Macro Economic Scenario
5. Global Software Consulting Market Size and Growth
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32. Global Software Consulting Market Competitive Benchmarking
33. Global Software Consulting Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Software Consulting Market
35. Software Consulting Market Future Outlook and Potential Analysis
36. Appendix
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