The custom software development market size is expected to see exponential growth in the next few years. It will grow to $105.02 billion in 2028 at a compound annual growth rate (CAGR) of 23.7%. The growth in the forecast period can be attributed to digital transformation acceleration, increased focus on cybersecurity, remote work and collaboration tools and data privacy and compliance. Major trends in the forecast period include hyper-automation, containerization and microservices, focus on user experience, augmented reality and virtual reality, quantum computing applications and ethical and responsible AI.
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Scope Of Custom Software Development Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Custom Software Development Market Overview
Market Drivers –
The increasing adoption of robotic automation is expected to propel the growth of custom software development going forward. Robotic automation refers to a software technology that makes it easy to build, deploy, and manage software robots that emulate human actions when interacting with digital systems and software. The increasing adoption of robotic automation is driven by its ability to enhance efficiency, productivity, and precision in various industries while reducing operational costs. Custom software development is essential for optimizing the performance and integration of robots in automation processes, facilitating tasks such as control, sensor integration, path planning, and data analysis. For instance, in September 2023, according to the International Federation of Robotics (IFR), a US-based non-profit organization, there were 553,052 industrial robot installations in factories globally in 2022, reflecting a 5% year-on-year growth rate. Moreover, in terms of regional distribution, Asia accounted for 73% of the newly deployed robots, followed by Europe at 15%, and the USA at 10%. Therefore, the increasing adoption of robotic automation is driving the growth of the custom software development market.
Market Trends –
Major companies operating in the compression sleeves market are developing innovative products, such as Trailblazer calf sleeves, to serve customers with advanced features better. The Trailblazer calf sleeves stimulate blood flow, expedite recovery, and offer anti-odor technology, moisture-wicking properties, and abrasion resistance. For instance, in December 2021, BioSkin, a US-based medical equipment manufacturer, launched the Trailblazer calf sleeves. These sleeves deliver pain-relieving compression to the lower leg muscles, tendons, and ligaments; they stimulate blood flow and expedite recovery. Engineered with medical-grade compression, these sleeves are tailored to enhance recovery and optimize performance. These calf sleeves are crafted from a double layer of smooth Italian warp-knit fabric with a high degree of stretch. They are designed to flex with the muscles in the lower leg, providing pain-relieving compression to the muscles, tendons, and ligaments.
The custom software development market covered in this report is segmented –
1) By Solution: Web-Based Solutions, Mobile App, Enterprise Software
2) By Deployment: Cloud, On-Premise
3) By Enterprise Size: Large Enterprises, Small And Medium Enterprises (SMEs)
4) By End User: Banking, Financial Services, And Insurance, Government, Healthcare, Information Technology And Telecom, Manufacturing, Retail, Other End-Users
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Regional Insights –
North America was the largest region in the custom software development market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the custom software development market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Key Companies –
Major companies operating in the custom software development market are Accenture plc, Tata Consultancy Services Limited, Infosys Limited, Capgemini SE, HCL Technologies Limited, Tech Mahindra Limited, EPAM Systems Inc., Wipro Limited, Persistent Systems Limited, Kalibroida Technology Solutions Inc., N-iX LLC, Intetics Inc., ScienceSoft USA Corporation, Hexacta S.A., Chetu Inc., Fingent Corporation, Svitla Systems Inc., Iflexion Interactive Inc., MentorMate LLC, Icreon Tech Inc., TRooTech Business Solutions Pvt. Ltd., Brainvire Infotech Inc., Magora Systems Limited, Belitsoft LLC, Trigent Software Inc.
Table of Contents
1. Executive Summary
2. Custom Software Development Market Report Structure
3. Custom Software Development Market Trends And Strategies
4. Custom Software Development Market – Macro Economic Scenario
5. Custom Software Development Market Size And Growth
…..
27. Custom Software Development Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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