Software Consulting Industry Overview
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.
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:
Based on the Enterprise Size Insights, the market is segmented into Large Enterprise and Small & Medium Enterprises (SMEs)
- The large enterprise segment accounted for the largest market share of more than 61% in 2020.
- The small & medium enterprises segment is expected to register the fastest CAGR over the forecast period.
Based on the Application Insights, the market is segmented into Enterprise Solutions, Application Development, Migration & Maintenance Services, Design Services, Application Testing Services, Software Security Services, and Others
- The enterprise solutions segment accounted for the largest market share of over 21% in 2020 and is projected to remain dominant throughout the forecast period.
- The demand for software, such as Enterprise Content Management (ECM), Enterprise Resource Planning (ERP), and Customer Relationship Management (CRM), has been increasing, which is estimated to boost the demand for consulting for enterprise solutions over the coming years.
- The software security services segment is anticipated to register the highest growth rate over the forecast period.
Based on the End-use Insights, the market is segmented into Automotive, BFSI, Education, Government, Healthcare, IT & Telecom, Manufacturing, Retail, and Others
- The BFSI segment accounted for the largest market share of over 19% in 2020.
- The healthcare segment is anticipated to register the highest CAGR over the forecast period.
- Increasing technological developments, such as the Internet of Things (IoT) & wearables, cloud services, product engineering services, integration services, and data science and business intelligence solutions, in the healthcare sector are expected to boost the segment growth.
Software Consulting Regional Outlook
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
Key Companies Profile & Market Share Insights
The market is highly competitive with several market players catering to different sectors. The presence of established players is a key factor deterring potential players from entering the market. However, the increasing development of differentiated software consulting solutions and services in the market is expected to create growth opportunities for new entrants.
Some prominent players in the global Software Consulting market include:
- 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
Order a free sample PDF of the Software Consulting Market Intelligence Study, published by Grand View Research.
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