Software Consulting Market Size, Share & Trends Analysis Report By End-use (BFSI, Healthcare), By Enterprise Size (SMEs, Large), By Application (Enterprise Solutions, Design Services), By Region, And Segment Forecasts, 2023 - 2030

Software Consulting Market Growth & Trends

The global software consulting market size is expected to reach USD 678.32 billion by 2030, registering a CAGR of 12.1% from 2023 to 2030, according to a new study by Grand View Research, Inc. The multiple benefits these solutions and services give, such as enhancing corporate operations, decreasing waste, and increasing organizational revenue, might contribute to their expansion. Software consulting services can also help firms identify growth and cost reduction potential. Digital and business model disruption has recently emerged as a driving force behind growth, particularly in established markets. Moreover, demand for consulting services is predicted to rise because of offshoring and globalization.

The adoption of new technologies, such as cloud computing and mobile computing, by businesses is expected to increase demand for software consulting services. The increased interest of enterprises in operational flexibility, business applications, and workload optimization housed in a cloud computing environment can be ascribed to the growing adoption and deployment of cloud technologies. Cloud computing's high scalability, flexibility, and cost advantages are also promoting migration to cloud platforms, boosting market growth. The need for services like business intelligence, data analytics, cybersecurity, robotics, and the Internet of Things is driving the number of transactions in IT consulting.

The COVID-19 pandemic has impacted both market players and consultants in the software consulting industry. However, because consultants and software consulting service providers must work on projects worldwide, software consulting is one of the first markets to adopt remote working. Due to the growing acceptance of modern technologies and the present digitization trend, software consulting has outlasted these challenging times. Furthermore, the transition to remote working has created an appetite for expertise. Organizations implemented new technologies in their systems for data management, security challenges, and others, increasing the global demand for software consulting services.

Market players are pursuing various growth strategies, including collaborations, partnerships, new product development, and mergers and acquisitions, to stay competitive. For instance, In July 2021, ATOS SE collaborated with Ooredoo QSC, a telecommunication firm. Through the collaboration, both companies developed cybersecurity threat detection and response services for Qatar Smart Program TASMU to support Qatar National Vision 2030. The Ministry of Transport and Communication (MOTC) drives the program. Moreover, Atos SE provided its MDR service powered by its AIsaac platform for auto-containment, multi-vector threat detection, and incident response orchestration.

Software Consulting Market Report Highlights

• The software security services segment is anticipated to register the highest CAGR from 2023 to 2030, owing to the increasing cyber-attacks and safeguard servers’ critical information
• The small and medium enterprises segment is anticipated to register the highest CAGR from 2023 to 2030. Increasing government initiatives through various digital SME campaigns in the region are anticipated to drive the growth of the segment
• The healthcare segment is anticipated to emerge as the fastest-growing end-use segment over the forecast period. The expanding use of technology in the healthcare industry, as well as the greater usage of web and mobile applications, has changed the way hospitals diagnose patients and generate health reports, creating need for software consulting to give clients with the fastest technical support
• Asia Pacific is expected to register a significant growth rate over the forecast period. The growth of IT services and e-commerce in Asia Pacific has supported software consulting services support and has created various opportunities for the same. Demand for web designing and mobile app designing consultation to assist online businesses has increased in the region. This, in turn, is expected to create growth opportunities for the software consulting services market

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