openPR Logo
Press release

Application Development Software Market to reach USD 1,628 Billion - Risk-adjusted numbers with COVID-19 analysis change scenario

12-02-2022 01:46 PM CET | IT, New Media & Software

Press release from: Acumen Research and Consulting

Application Development Software Market to reach USD 1,628

The Global Application Development Software Market Size accounted for USD 187 Billion in 2021 and is estimated to achieve a market size of USD 1,628 Billion by 2030; growing at a CAGR of 27.4%.

The rapid digital transformation worldwide is the primary factor driving the global application development software market growth. Software applications around the world are making difficult tasks easy and thus they are growing rapidly across industries. The expansion of the internet has had a significant impact on the software industry, from the ease with which new enterprises can be established to the methods that organizations use to develop, distribute, and support their products. As a result, the growing adoption of the internet is helping the application development software industry share to expand.

Increasing demand for mobile-based applications is one of the recent trends in the application development software market that is gaining prominence in developed as well as developing economies. An increasing number of platforms to develop software applications are supporting the global application development software market revenue. Some of the trending platforms in the industry include SQL Server, Angular.js, React, Node.js, Bootstrap.js, Azure, Web API, iOS, Android, Xamarin, and many others. Additionally, the rising demand for software applications in end-use industries such as IT & telecom, healthcare, BFSI, and media & entertainment is expected to generate numerous growth opportunities for the market in the coming years from 2022 to 2030.

Request For Free Sample Report @
https://www.acumenresearchandconsulting.com/request-sample/3074

Application Development Software Market Regional Outlook

The global application development software market is segregated into five regions: North America, Latin America, Europe, Asia-Pacific, and Middle East & Africa. In 2021, North America conquered the market with a lion's share due to the increasing internet penetration in the region. In addition, the high spending power of businesses in new technologies, the presence of some leading players in the region, and the growing adoption of futuristic technologies such as artificial intelligence, machine learning, and virtual and augmented reality among others.

However, the Asia-Pacific region is likely to attain considerable market growth during the projected timeframe from 2022 to 2030. Rising number of IT companies, developing economies, a growing trend of developing software on open sources, and an increasing number of smartphone users in countries like China and India.

Application Development Software Market Dynamics

The increasing adoption of the internet across the world is driving the global application development software market growth. Global internet users have risen to 4.95 billion as of the beginning of 2022, with internet penetration currently reaching 62.5% of the global total population. Data reveal that internet users have increased by 192 million (more than 4%) in 2021. Similarly, the increasing number of social media users is prompting IT players to update existing programmes or develop new ones. In January 2022, for example, there are 4.62 billion social media users worldwide. This amount represents 58.4% of the world's total population.

According to our analysis, the global digital transformation is boosting the application development software market value. A flood of new technology is hastening the pace at which business is performed, giving software unparalleled control over how an organization grows and works. Applications are currently the primary drivers of new services and income streams, mostly by providing attractive new user experiences and promoting the formation of whole new markets.

The growing dependency of aerospace and defense on custom-based software applications is anticipated to boost the industry demand. Rising government projects, growing expenditure on railways & transportation industry, and flourishing IT industries are creating demand for application development software industry. However, the high cost of these applications can be difficult for companies to acquire software application that are having low budgets, thereby restricting market growth. Furthermore, industry 4.0, smart industry, the industry of the future, and factory of the future are some of the trends that are opening up new growth prospects for the market in the coming future.

Check the detailed table of contents of the report @
https://www.acumenresearchandconsulting.com/table-of-content/application-development-software-market

Application Development Software Market Segmentation

The global market has been split into five categories: type, deployment model, application, enterprise size, and region.

The type segment is bifurcated into low-code development platforms and no-code development platforms. Out of these, the low-code development platforms sub-segment dominated the market with the majority of the share in 2021 and is likely to continue its dominance during the projected timeframe from 2022 to 2030.

The deployment model is classified into two types: on-premise and cloud-based. Among them, the on-premise segment will dominate the industry in the future years. However, the cloud-based sub-segment is changing the industry trend as businesses shift their focus to cloud services. Cloud software offers access from anywhere and at any time, is inexpensive, scalable, reduces power expenses, and provides a high level of security. All of these factors are projected to drive future demand for cloud-based software.

The application segment is further split into BFSI, media & entertainment, IT & telecom, healthcare, travel & tourism, and others. Based on our application development software industry analysis, the media & entertainment segment generated the maximum shares due to the growing demand from OTT platforms. On the other hand, the IT & telecom segment is poised to grow with an impressive CAGR due to the surging need for customized software and services in these sectors.

Furthermore, large enterprises and small and medium enterprises (SMEs) are covered under the enterprise size segment. As per our application development software market forecast, large enterprises will occupy a noteworthy market share in the coming years, whereas SMEs will witness the fastest growth rate (CAGR) in the coming future.

Buy this premium research report -
https://www.acumenresearchandconsulting.com/buy-now/0/3074

Application Development Software Market Players

Some prominent application development software companies covered in the industry include Alphabet Inc., Azure, Datadog Cloud Monitoring, Fujitsu Ltd., HCL Technologies, Wipro Limited, IBM Corporation, Oracle Corporation, Microsoft Corporation, SAP HANA Cloud Platform, Salesforce, and Zoho Corporation.

201, Vaidehi-Saaket, Baner - Pashan Link Rd, Pashan, Pune, Maharashtra 411021

Acumen Research and Consulting (ARC) is a global provider of market intelligence and consulting services to information technology, investment, telecommunication, manufacturing, and consumer technology markets. ARC helps investment communities, IT professionals, and business executives to make fact based decisions on technology purchases and develop firm growth strategies to sustain market competition. With the team size of 100+ Analysts and collective industry experience of more than 200 years, Acumen Research and Consulting assures to deliver a combination of industry knowledge along with global and country level expertise.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Application Development Software Market to reach USD 1,628 Billion - Risk-adjusted numbers with COVID-19 analysis change scenario here

News-ID: 2832704 • Views: 496

More Releases from Acumen Research and Consulting

Ultrasound Devices Market Huge Future Demand: Key players Koninklijke Philips N. …
Ultrasound Devices Market Size to Occupy More Than USD 13.8 Billion by 2032 | CAGR 6.1% from 2023 to 2032 The Ultrasound Devices Market research report published by Acumen Research and Consulting provides a comprehensive yet detailed analysis of the global market landscape. The report helps our clients understand the market scenario while also providing a detailed historical account of the market over the previous years. The Ultrasound Devices Market size
Ultrapure Water Market Analysis, Statistics, Regional, and Forecast to 2032
Ultrapure Water Market Size to Occupy More Than USD 17.2 Billion by 2032 | CAGR 7% from 2023 to 2032 The Ultrapure Water Market research report published by Acumen Research and Consulting provides a comprehensive yet detailed analysis of the global market landscape. The report helps our clients understand the market scenario while also providing a detailed historical account of the market over the previous years. The Ultrapure Water Market size
U.S. Denim Jeans Market With 5.4% CAGR, to Reach USD 34 Billion 2032 | Leading C …
U.S. Denim Jeans Market Size to Occupy More Than USD 34 Billion by 2032 | CAGR 5.4% from 2023 to 2032 The U.S. Denim Jeans Market research report published by Acumen Research and Consulting provides a comprehensive yet detailed analysis of the global market landscape. The report helps our clients understand the market scenario while also providing a detailed historical account of the market over the previous years. The U.S. Denim
Textile Coating Market 2022 Industry Size Forecast by Share, Revenue, Growth and …
Textile Coating Market Size to Occupy More Than USD 8.4 Billion by 2032 | CAGR 4.2% from 2023 to 2032 The Textile Coating Market research report published by Acumen Research and Consulting provides a comprehensive yet detailed analysis of the global market landscape. The report helps our clients understand the market scenario while also providing a detailed historical account of the market over the previous years. The Textile Coating Market size

All 5 Releases


More Releases for Application

Butylamine Market Report 2018: Segmentation by Product (Type I, Type II, Type II …
Global Butylamine market research report provides company profile for Daicel Corporation (Japan), E. I. Du Pont De Nemours and Company (USA), Dow Amines (USA), Huntsman International LLC (USA), Air Products and Chemicals, Inc. (USA), Alkyl Amines Chemicals Ltd. (India), Arkema Group (France), Ashland Inc. (USA), BASF SE (Germany), BorsodChem MCHZ, s.r.o. (Czech Republic) and Others. This market study includes data about consumer perspective, comprehensive analysis, statistics, market share, company performances
Ocean Power Market Report 2018: Segmentation by Technology (Tidal power, Wave po …
Global Ocean Power market research report provides company profile for Ocean Power Technologies, OpenHydro, Seabased, Wello Oy, ANDRITZ HYDRO Hammerfest, Atlantis Resources and Others. This market study includes data about consumer perspective, comprehensive analysis, statistics, market share, company performances (Stocks), historical analysis 2012 to 2017, market forecast 2018 to 2025 in terms of volume, revenue, YOY growth rate, and CAGR for the year 2018 to 2025, etc. The report also
POS Printer Market Report 2018: Segmentation by Type (Impact, Thermal, Others) b …
Global POS Printer market research report provides company profile for Bixolon, Boca Systems, Cognitive TPG, CUSTOM SPA, NCR, Pertech Industries, Woosim, Zebra and Others. This market study includes data about consumer perspective, comprehensive analysis, statistics, market share, company performances (Stocks), historical analysis 2012 to 2017, market forecast 2018 to 2025 in terms of volume, revenue, YOY growth rate, and CAGR for the year 2018 to 2025, etc. The report also
High Voltage Super Junction MOSFET Market Report 2018: Segmentation by Type (SMT …
Global High Voltage Super Junction MOSFET market research report provides company profile for Fuji Electric, IceMOS Technology, ROHM, Vishay, DACO Semicondusctor, STMicroelectronics, Renesas Electronics, ON Semiconductor (Fairchild Semiconductor), Alpha & Omega Semiconductor, Infineon Technologies Toshiba and Others. This market study includes data about consumer perspective, comprehensive analysis, statistics, market share, company performances (Stocks), historical analysis 2012 to 2017, market forecast 2018 to 2025 in terms of volume, revenue, YOY growth
Waste to Energy Market Report 2018: Segmentation by Technology (Thermal, Biologi …
Global Waste to Energy market research report provides company profile for Waste Management Inc., Suez Environment S.A., C&G Environmental Protection Holdings, Constructions industrielles de la Mediterranee (CNIM), China Everbright International Limited, Covanta Energy Corporation, Foster Wheeler A.G., Abu Dhabi National Energy Company PJSC and Others. This market study includes data about consumer perspective, comprehensive analysis, statistics, market share, company performances (Stocks), historical analysis 2012 to 2017, market forecast 2018 to
Global Application Management Services Market by Service (Application Portfolio …
Application management services encompass a wide range of implementation and operational services that are vital to application maintenance, optimization, support and modernization, and migration. As the number of applications used and deployed by organizations is increasing continuously, the need to monitor and manage these services for business efficiency and continuity is driving the demand for application services across different industries. Companies today make use of a myriad set of applications