Software Consulting Market to Record an Exponential CAGR by 2028: Grand View Research Inc.

 Software Consulting Market Growth & Trends

The global software consulting market size is expected to reach USD 539.18 billion by 2028, registering a CAGR of 12.0% from 2021 to 2028, according to a new study by Grand View Research, Inc. This growth is attributed to the myriad of benefits these solutions and services offer, such as optimizing business operations, minimizing wastage, and augmenting organizational revenues. These services also help organizations in identifying business growth opportunities and determining areas for cost efficiencies. The Covid-19 pandemic has affected market players as well as consultants.

However, consulting is one of the first markets to adopt remote working since consultants and vendors need to work from various parts of the world for their projects. The increasing adoption of advanced technologies and the current digitization trend have enabled software consulting to outlast these challenging times. Enterprises are increasingly adopting the latest technologies, such as cloud computing and mobile computing, which is anticipated to drive market growth.

The growing adoption and deployment of cloud technology can be attributed mainly to the growing interest of organizations in operational flexibility, business applications, and workload optimization hosted on a cloud computing environment. The high level of scalability &flexibility along with cost advantages offered by cloud computing is also influencing the migration to cloud platforms, thereby driving the market growth.

Market players are pursuing various growth strategies, including collaborations, partnerships, new product development, and mergers & acquisitions, to gain a competitive edge. For instance, in April 2019, CGI Group Inc. acquired Acando AB. Through this acquisition, the company aimed to enhance its IT consulting services, thereby helping clients with system integration, strategic consulting, and customer-centric digital innovation capabilities.

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Software Consulting Market Report Highlights

• The software security services segment is anticipated to register the highest CAGR from 2021 to 2028
• The segment growth can be credited to the increasing use of cloud servers to store information and the growing number of cyber attacks to gain unauthorized access to critical business information
• The large enterprises segment dominated the market in 2020 and will remain dominant over the forecast period due to high investments by large enterprises in advanced technologies to cope with the changing industry dynamics
• Healthcare is anticipated to emerge as the fastest-growing end-use segment over the forecast period
• The growing number of web and mobile applications has revolutionized the way hospitals diagnose their patients, people maintain their fitness, and health reports are generated, thereby driving the demand for consulting to provide technical support and troubleshooting services for clients
• Asia Pacific is expected to register the fastest CAGR from 2021 to 2028. High demand for web & mobile app design consultation to assist online businesses due to the rapidly expanding e-commerce sector is expected to drive the market in the region

Access Press Release@ https://www.grandviewresearch.com/press-release/global-software-consulting-market

Software Consulting Market Segmentation

Grand View Research has segmented the global software consulting market on the basis of application, enterprise size, end-use, and region:

Software Consulting Application Outlook (Revenue, USD Billion, 2016 - 2028)

• Enterprise Solutions
• Application Development
• Migration & Maintenance Services
• Design Services
• Application Testing Services
• Software Security Services
• Others

Software Consulting Enterprise Size Outlook (Revenue, USD Billion, 2016 - 2028)

• Large Enterprise
• Small & Medium Enterprises (SMEs)

Software Consulting End-use Outlook (Revenue, USD Billion, 2016 - 2028)

• Automotive
• BFSI
• Education
• Government
• Healthcare
• IT & Telecom
• Manufacturing
• Retail
• Others

Software Consulting Regional Outlook (Revenue, USD Billion, 2016 - 2028)

• North America
  • US.
  • Canada
• Europe
  • Germany
  • UK.
• Asia Pacific
  • China
  • India
  • Japan
• Latin America
  • Brazil
• Middle East & Africa (MEA)

List of Key Players of Software Consulting Market

• Accenture PLC
• Atos SE
• Capgemini
• CGI Group, Inc.
• Clearfind
• Cognizant
• Deloitte Touche Tohmatsu Ltd.
• Ernst & Young LLP
• International Business Machines Corp.
• Oracle Corp.
• PricewaterhouseCoopers B.V.
• Rapport IT
• SAP SE

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.