Press release
Global Software Consulting Market Projected to Surpass $436.9 Billion by 2029 with 12% Annual Growth
Software Consulting
The software consulting market is experiencing expansion, largely driven by the surge in cloud computing adoption. Cloud computing encompasses the provision of various computing services, such as storage, computational capabilities, and applications via the internet. The role of software consulting is pivotal in boosting cloud adoption, as it offers specialized knowledge, advice, and custom-fit solutions to companies looking to exploit the advantages of cloud technologies. For example, a report from the European Commission, a governing body in Belgium, revealed in April 2023 that 42.5% of EU companies had bought cloud computing services, mainly for office software, file storage, and email, in 2023. Additionally, in 2023, the report highlighted a 4.2 percentage point rise in the proportion of EU firms buying cloud computing services, in contrast to 2021. Hence, the increasing uptake of cloud computing is propelling the software consulting services market's development.
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What growth opportunities are expected to drive the software consulting market's CAGR through 2034?
The size of the software consulting market has seen a robust expansion in the preceding years. It is expected to rise from $258.15 billion in 2024 to $277.42 billion in 2025, marking a compound annual growth rate (CAGR) of 7.5%. The growth observed in the historical period can be linked to the escalating intricacy of software solutions, the necessity for business process optimization, digital transformation endeavors, shifting regulatory compliance requisites, and the requirement for proficiency in emerging technologies.
Over the next few years, the software consulting market is predicted to experience a significant expansion, reaching an estimated worth of $436.9 billion in 2029 with a compound annual growth rate (CAGR) of 12.0%. The anticipated growth over the prediction period could be due to a concentration on cybersecurity consulting, remote employment and collaboration mechanisms, and strategic IT planning and alignment. Future trends forecasted include the incorporation of blockchain, an emphasis on user experience (UX) design, remote work approaches, evolving regulatory compliance services, plus subscription-based and SaaS frameworks.
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What are the emerging trends shaping the future of the software consulting market?
Key companies in the software consulting industry are leveraging technology consulting advancements to fortify their market standing. Technological progressions are essential in enhancing the efficiency, creativity, and abilities of the software consulting market. For example, in July 2023, Atos, a French IT firm, initiated Technology Consulting, a counsel service for C-suite executives, initially rolled out in a few European countries. This global service harmonizes IT decisions with business policy, utilizing Atos' ecosystem expertise for tailored digital pathways. It emphasizes generative AI, data, analytics, automation, and IoT to assist clients in navigating intricate digital landscapes and predicting technology trends.
Which growth-oriented segments of the software consulting market are leading the industry's development?
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 And Medium Enterprise
3) By End-Use Industry: Automotive, Education, Government, Healthcare, IT And Telecom, Manufacturing
Subsegments:
1) By Enterprise Solutions: Enterprise Resource Planning (ERP), Customer Relationship Management (CRM), Supply Chain Management (SCM), Business Intelligence (BI) Solutions
2) By Application Development: Web Application Development, Mobile Application Development, Custom Software Development, SaaS Development
3) By Migration And Maintenance Services: Cloud Migration Services, Legacy System Migration, Software Maintenance And Support, Upgrades And Patches
4) By Design Services: User Experience (UX) Design, User Interface (UI) Design, Prototyping And Wireframing, Graphic Design For Applications
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What regions are leading the charge in the software consulting market?
North America was the largest region in the software consulting market in 2024. 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.
What companies are at the forefront of innovation in the software consulting market?
Major companies operating in the software consulting market include 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., Trianz Holdings Private Limited, Zensar Technologies Limited, BJSS Ltd., Clearfind, Virtusa Consulting Services Private Limited, Rapport IT Services Pvt Ltd., Convedo Group
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What Is Covered In The Software Consulting Global Market Report?
•Market Size Forecast: Examine the software consulting market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the software consulting market for a structured understanding.
•Key Players Overview: Analyze major players in the software consulting market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the software consulting market.
•Segment Contributions: Evaluate how different segments drive overall growth in the software consulting market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the software consulting market.
•Industry Challenges: Identify potential risks and obstacles affecting the software consulting market.
•Competitive Landscape: Review strategic developments in the software consulting market, including expansions, agreements, and new product launches.
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