Press release
Software Consulting Market 2024 - By Size, Trend Analysis, Leading Players And Global Forecast To 2033
Software Consulting Market
The Business Research Company presents an extensive market research report on the Software Consulting Global Market Report 2024 , furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
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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Key Market Players:
Major companies operating in the software consulting market report are 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
Market Drivers:
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.
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https://www.thebusinessresearchcompany.com/report/software-consulting-global-market-report
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
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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