Global Custom Software Development Market Size study & Forecast, by Solution (Web-based Solutions, Mobile App, Enterprise Software) by Deployment (Cloud, On-premise), by Enterprise Size (Large Enterprises, Small & Medium Enterprises (SMEs)), by End-user (

Global Custom Software Development Market Size study & Forecast, by Solution (Web-based Solutions, Mobile App, Enterprise Software) by Deployment (Cloud, On-premise), by Enterprise Size (Large Enterprises, Small & Medium Enterprises (SMEs)), by End-user (BFSI, IT & Telecom, Manufacturing, Retail, Others), and Regional Analysis, 2022-2029

Global Custom Software Development Market is valued at approximately USD 24.46 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 22.3% over the forecast period 2022-2029. Custom software development is the process of conceptualizing, designing, deploying, and maintaining software for a specific individual or group of users within organizations. This software is purposely built to discourse a certain users’ requirements and is considered more efficient as compared to commercial off-the-shelf software (COTS). Further, the customer software development is attributed to better scalability, seamless integration, flexible update, and offers quick implementation compared to off-the-shelf software, which paves the growth outlook for global market over the forecast period. Furthermore, increasing requirement for industry applications concerning the real-time data analysis, surge in need for flexible workspaces to improve productivity, and growing usage of business-specific software solutions are the primary factors that are propelling the market growth across the globe.

The rising use of analytical tools in custom software development, such as business intelligence, machine learning, and artificial intelligence is also presenting various growth prospects to the market. For instance, as per the Algorithmia’s 2021 report, it surveyed that 76% of enterprises plan to prioritize the machine learning and AI initiatives over other IT goals in 2021. In addition, the report found that 86% of enterprises have raised their budget on AI and machine learning software since 2019. Therefore, the rising adoption of AI and other emerging technologies in enterprise sector to enable cross-departmental communication, recognizing market trends, and mechanizing process. Moreover, the rising technological and IT budgets across diverse industry verticals, as well as the increase in government investments in AI initiatives are presenting various lucrative opportunities over the forecasting years. However, privacy and security concerns and the high initial investments are hampering the market growth throughout the forecast period of 2022-2029.

The key regions considered for the Global Custom Software Development Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America dominated the market in terms of revenue, owing to the rise in demand for IT services, increasing automation and digital transformation, and growing development of custom software. Whereas, the Asia Pacific is expected to grow with the highest CAGR during the forecast period, owing to factors such as growing advancement of technological implementation in the enterprises, as well as the increasing requirement to modernize legacy software development systems in the regional market.

Major market players included in this report are:
Brainvire Infotech Inc.
Capgemini
Iflexion
Infopulse
Infosys Ltd.
Magora
MentorMate, Inc.
Tata Consultancy Services Limited
Trigent Software, Inc.
TRooTech Business Solutions

Recent Developments in the Market:
 In December 2021, Infosys Equinox announced that the company entered into collaborative agreement with Packable, which aims on assisting in developing its direct-to-consumer e-commerce offerings. The objective of this strategic partnership is to expand Packable's ability to present brands a direct-to-consumer platform that is engaging, innovative, and agile.


Global Custom Software Development Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Solution, Deployment, Enterprise Size, End-user, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*


The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:

By Solution:
Web-based Solutions
Mobile App
Enterprise Software
By Deployment:
Cloud
On-premise
By Enterprise Size:
Large Enterprises
Small & Medium Enterprises (SMEs)
By End-user:
BFSI
IT & Telecom
Manufacturing
Retail
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
RoLA
Rest of the World



Companies Mentioned

Brainvire Infotech Inc.
Capgemini
Iflexion
Infopulse
Infosys Ltd.
Magora
MentorMate, Inc.
Tata Consultancy Services Limited
Trigent Software, Inc.
TRooTech Business Solutions


Please note:The single user license is non-downloadable and non-printable. Global Site license allows these actions.