Global Software Consulting Market

Software Consulting Market Size, Share, Growth Analysis, By Application(Enterprise Solutions, Application Development), By End - Use(Automotive, BFSI), By Enterprize Size(Large Enterprise, Small & Medium Enterprises (SMEs)) - Industry Forecast 2024-2031

Report ID: SQMIG45A2144 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 99 | Figures: 76

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Software Consulting Market size was valued at USD 275 billion in 2022 and is poised to grow from USD 309.38 billion in 2023 to USD 793.79 billion by 2031, growing at a CAGR of 12.5% in the forecast period (2024-2031).

The software consulting market’s competitive environment is a dynamic for and is continuously evolving. There are several new developments in this landscape. Market entrants are emerging into the arena that is occupied by accomplished players, who are partnering up to combine their strengths. New technologies like AI and ML have also revolutionized the market, offering an opportunity for advanced product development. 'Tata Consultancy Services (TCS) (India)', 'Capgemini (France)', 'Deloitte (USA)', 'Syntel (USA)', 'Accenture (Ireland)', 'Infosys (India)', 'DXC Technology (USA)', 'Atos (France)', 'Ernst & Young (EY) (UK)', 'Cognizant (USA)', 'HCL Technologies (India)', 'Wipro (India)', 'NTT Data (Japan)', 'Larsen & Toubro Infotech (LTI) (India)', 'CGI Inc. (Canada)', 'PricewaterhouseCoopers (PwC) (UK)', 'Happiest Minds Technologies (India)', 'KPMG (Netherlands)', 'IBM Business Services (USA)', 'Tech Mahindra (India)'

The recent introduction and extensive adoption of cloud computing services has driven the girth of the software consulting market. Firms that are employing cloud migration, integration, and management, require expert knowledge. Thus, cloud-based consulting has gained popularity, fueling market growth.

Industry-Specific Expertise: Clients who require expert industry knowledge are actively looking for specialized consultants. This is because this knowledge and awareness is vital in industries like finance, healthcare, and manufacturing.

In 2022, North America held a market revenue share of over 30%. This proved it to be the largest region in the market. It is predicted to hold this dominance from 2023 to 2030 due to continuing growth. The region’s high investments in technological R&D across multiple industries has helped it lead the market. This development has also resulted in a heightened demand for IT and software solutions. This demand is further bolstered as new technologies like IoT and data analytics are being widely adopted. The digital transformation trend has also fueled the software consulting market’s growth in North America. The US is a vital center for such services, contributing largely to the region’s supremacy. The emergence of several tech start-ups and the ongoing adoption of CRM (Customer Relationship Management), ERP (Enterprise Resource Planning), and cloud services has cemented this region’s market position.

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