Demand for Software Consulting and Impact of COVID-19……..


The global software consulting market is expected to reach USD 382.65 billion by 2025, according to a new study conducted by Grand View Research, Inc. The growing demand for digitalization in business processes and low start-up costs associated with software consulting services are expected to drive the growth of the market.
In contrast to its related industries like consumer electronics and semiconductors, the data center and communications infrastructure industry is expected to be more buoyant with continued strategic investments made to support the increased network traffic and data usage for remote working during the lockdown phase. From school closures necessitating students to use virtual offerings (Google Classroom ) to the governments using business analytics services (Power BI) for communicating virus updates, the demand for communication services and related infrastructure has witnessed an unprecedented rise amidst the global pandemic. Digital services including telemedicine are expected to remain popular even after the pandemic is contained, thereby ensuring strong growth in the communication infrastructure industry. The report will account for Covid19 as a key market contributor.
The growing adoption of enterprise software solutions to increase productivity and efficiency of an organization is driving the demand for software consulting services for efficient installation and use of these solutions. The increasing need for the development of enterprise mobile applications and web applications is further expected to drive the demand for consultation planning, implementation, and support for applications.
Migration of IT infrastructure to cloud computing infrastructure and traditional IT solutions to mobile computing solutions are the current trends observed in the market. These trends are expected to drive the demand for software consulting services over the forecast period. Furthermore, new service providers in the market are delivering an innovative business model that redefines the existing business model.
Moreover, digital transformation across the manufacturing industries and adoption of Industry 4.0 standards are expected to drive the demand for software consulting services for installing new software based solutions and gaining insights on advanced changes made in the software solutions. Increasing number of SMEs and their demand for advanced software solutions for developing effective business models are expected to fuel the growth of the market.
To Request Sample Copy of this report, click the link:
https://www.grandviewresearch.com/industry-analysis/software-consulting-market/request/rs1
Further key findings from the report suggest:
·         The enterprise solution segment is expected to account for a significant market share over the forecast period owing to the increasing demand for an efficient and integrated system that minimizes operational costs.
·         Increasing investments by large enterprises in advanced technologies to cope with the changing industry dynamics are expected to drive the growth of the large enterprise segment.
·         The IT & telecom segment is expected to witness the highest growth in terms of revenue over the forecast period. Increasing demand for maintaining quality, security, and performance of software architecture in the IT & telecom industry are expected to drive the growth of the market.
·         North America is expected to continue to dominate in the market over the forecast period owing to the presence of a large number of software consulting service providers.
·         The key industry participants include Atos SE, Accenture, Capgemini, CGI Group Inc., Cognizant, Deloitte Touche Tohmatsu Limited, Ernst & Young Global Limited, IBM Corporation, Oracle, PwC, and SAP SE.
The global software consulting market size was valued at USD 157.26 billion in 2017 and is expected to grow at a CAGR exceeding 11.8% from 2018 to 2025. The market has witnessed growth over the past few years owing to the increasing consolidation among companies, which require assistance in integrating accounting, information storage, and other systems.
Various businesses across the globe are more reliant on software consultancy to sustain the fast-changing technological world. Favorable government regulations and minimal start-up costs are also expected to drive the growth of the software consulting market. Additionally, globalization and off-shoring are further expected to fuel the market demand over the forecast period.
Software consulting services help enterprises to better design, optimize, architect, and implement software and processes. Furthermore, the services also help organizations in effective decision-making for lining up their technology and investment strategies with their businesses or process strategies. Software consulting includes disseminating information, providing technical expertise, testing & supporting software, on-site management & IT functions, and planning & system designing.
The shift of technological trends toward data analytics and cloud computing are driving the demand for new services and encouraging enterprises to adopt innovative software solutions. Moreover, increasing investments in advanced computers and software are expected to increase the demand for software consulting services over the forecast period.
However, lack of technical expertise and the inability to meet client requirements are expected to hinder the growth of the market. Developing a client network, which provides a regular workflow, poses to be a challenge to the market growth. Additionally, business transition, cultural conflicts, and integration issues are further expected to hinder the growth of the software consulting market.
Browse Press Release of this report:
https://www.grandviewresearch.com/press-release/global-software-consulting-market
Grand View Research has segmented the global software consulting market on the basis of application, enterprise size, end-use:
Software Consulting Application Outlook (Revenue, USD Billion; 2014 - 2025)
·         Enterprise Solutions
·         Application Development
·         Migration & Maintenance services
·         Design Services
·         Application Testing Services
·         Software Security Services
Software Consulting Enterprise Size Outlook (Revenue, USD Billion; 2014 - 2025)
·         Large Enterprise
·         Small & Medium Enterprise
Software Consulting End-use Outlook (Revenue, USD Billion; 2014 - 2025)
·         Automotive
·         BFSI
·         Education
·         Government
·         Healthcare
·         IT & Telecom
·         Manufacturing
·         Retail
·         Others

About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.


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