What Has Been the Growth Trajectory for the Software Consulting Market in Recent Years?
The software consulting market has seen considerable growth due to a variety of factors.
• The software consulting market has seen substantial growth over the past few years. Its size is expected to increase from $258.15 billion in 2024 to $277.42 billion in 2025, with a compound annual growth rate (CAGR) of 7.5%.
The historical growth can be associated with intricate software solutions requirements, the need for business process optimization, digital transformation efforts, evolving regulatory compliance necessities, and the demand for proficiency in new-age technologies.
What is the Forecasted Market Size and CAGR for the Software Consulting Market?
The software consulting market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of software consulting is projected to experience a significant surge in the coming years, escalating to $436.9 billion in 2029 having a compound annual growth rate (CAGR) of 12.0%.
Factors contributing to this anticipated growth in the forecast period involve emphasis on cybersecurity consulting, the rise in remote work and collaboration tools, and strategic IT planning and alignment. Notable trends expected during this forecast period comprise blockchain incorporation, an intensified focus on user experience (UX) design, solutions for remote work, advancements in regulatory compliance services, as well as the adoption of subscription-based and SaaS models.
What Factors Are Driving Growth In The Software Consulting Market?
The trend toward greater cloud computing adoption is propelling the expansion of the software consulting market. Cloud computing is the provision of various computing services like storage, processing power, and applications via the internet. Software consulting boosts the adoption of cloud technology by providing professional guidance and custom solutions for companies who want to capitalize on the advantages of cloud technology. For example, the European Commission, a governing body based in Belgium, released a report in April 2023 showing that 42.5% of EU businesses had purchased cloud computing services, predominantly for office software, email, and file storage in 2023. The report also revealed that the proportion of EU businesses procuring cloud services had gone up by 4.2 percentage points in 2023 compared to 2021. Accordingly, the surge in cloud computing usage has created a higher demand for the software consulting services market, leading to its growth.
What Are The Principal Market Segments In The Global Software Consulting Healthcare Industry?
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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Which Emerging Market Trends Are Altering The Software Consulting
Leading firms in the software consulting market are leveraging technology consulting to consolidate their market standing. The progression of technology plays a central role in enhancing the proficiency, innovation, and overall potential of software consulting. To exemplify, Atos, an IT firm based in France, introduced Technology Consulting in July 2023, a service specifically tailored for C-suite executives, initially introduced in certain European nations. This global service is designed to align IT decisions with business strategies, capitalizing on Atos’ vast expertise for crafting tailored digital journeys. It emphasizes on areas like generative AI, data, analytics, automation, and IoT, offering assistance to clients in navigating complicated digital landscapes and predicting forthcoming technology trends.
Who Are the Key Players 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
What are the Regional Insights into 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.
