Press release
Soaring Demand Set to Propel Software Consulting Market to $436.9 Billion by 2029
Software Consulting
How Large Will the Software Consulting Market Size By 2025?
The market size of software consulting has seen significant growth in the past few years. It is forecasted to expand from $258.15 billion in 2024 to $277.42 billion in 2025, following a compound annual growth rate (CAGR) of 7.5%. Factors such as the amplified complexity of software solutions, the necessitation for business process optimization, digital transformation efforts, changing regulatory compliance protocol, and the need for proficiency in emerging technologies have all contributed to this historic growth.
How Big Is the Software Consulting Market Size Expected to Grow by 2029?
The projected expansion of the software consulting market will be swift in the following years, reaching a value of $436.9 billion by 2029 with a 12.0% compound annual growth rate (CAGR). This expected surge during the forecasted duration is due to the emphasis on areas like cybersecurity consulting, tools for remote work and collaboration, as well as strategic IT planning and alignment. The critical trends anticipated for this period encompass blockchain integration, prioritization of user experience (UX) design, solutions for remote work, transformation in regulatory compliance services, and models based on subscription and Software as a Service (SaaS).
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Which Key Market Drivers Powering Software Consulting Market Expansion and Growth?
The uptick in cloud computing usage propels the expansion of the software consulting market. Cloud computing pertains to the provision of computing services like storage, processing power, and applications via the internet. Software consulting promotes greater adoption of the cloud by providing expert advice and tailored solutions to businesses looking to capitalize on the advantages of cloud technologies. For example, in April 2023, a report by the European Commission, a governing body in Belgium, indicated that 42.5% of EU businesses procured cloud computing services, primarily for office software, data storage, and email services. Additionally, there was a 4.2 percentage point surge in the proportion of EU companies purchasing cloud computing services in 2023 in comparison to 2021. Hence, the escalating use of cloud computing is fueling the demand for the growth of the software consulting services market.
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Which Fast-Growing Trends Are Poised to Disrupt the Software Consulting Market?
Top firms within the software consulting sector are introducing technology consulting to reinforce their stance in the market. The advancement of technology is crucial in enhancing the abilities, effectiveness, and innovations of this market. For example, Atos, an Information technology company based in France, unveiled Technology Consulting, an advisory service aimed at C-suite executives in July 2023. The service was debuted in a few European countries with the aim of aligning IT decisions with business strategies, maximizing the use of Atos' ecosystem know-how for personalized digital journeys. The service zeroes in on generative AI, data, analytics, automation, and IoT to aid clients in handling intricate digital landscapes and predicting technology tendencies.
What Are the Emerging Segments in the Software Consulting Market?
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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Who Are the Global Leaders 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
Which are the Top Profitable Regional Markets for the Software Consulting Industry?
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.
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