Software Consulting Market Size, Share & Trend Report | 2031
Software Consulting Market Size, Share & Trend Report | 2031
Segments - Software Consulting Market by Application (Software Security Services, Enterprise Solutions, Application Testing Services, Application Development, Design Services, Migration & Maintenance Services, and Others), Enterprise Size (Small & Medium Enterprises (SMEs) and Large Enterprises), End-user (Retail, Automotive, BFSI, Manufacturing, Education, IT & Telecom, Government, Healthcare, and Others), and Region (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031
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| Report ID :ICT-SE-5822
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Report Description
Software Consulting Market Outlook 2031
The global software consulting market size was valued at USD 252.4 Billion in 2023 and is likely to reach USD 731.55 Billion by 2031, expanding at a CAGR of 12.3% during 2023 – 2031. The growth of the market is attributed to the increasing demand for consulting services, as various industries are shifting towards the adoption of advanced digital technologies.
Growing reliance on digital payment methods is expected to drive the market. Digital payments offer convenience for individuals and businesses. Software consultants are helping organizations create user-friendly payment solutions to meet this demand. Furthermore, the increasing popularity of digital wallets is propelling the demand for software consulting to develop and optimize these digital wallet solutions.
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As per the report published on October 17, 2023, mobile wallets account for almost half of all online transactions worldwide. Moreover, around 2.8 billion mobile wallets are being used globally, with nearly half in Asia Pacific.
Software consulting refers to hiring external experts or consultants with specialized knowledge and skills in the field of software development and technology. These consultants provide guidance, advice, and solutions to individuals or organizations seeking assistance with their software-related projects, issues, or strategies. Moreover, they streamline the development process, making it efficient and cost-effective to save time and resources for organizations.
The research reports find that the COVID-19 pandemic boosted the market. The pandemic increased the demand for software consulting services, as businesses and organizations adapted to remote work and digital transformation.
Many companies required help in transitioning to virtual work environments, enhancing cybersecurity, and developing online platforms to maintain operations. Moreover, the pandemic accelerated the adoption of tele health and e-commerce, which further boosted the demand for software consultants in the healthcare and retail sectors.
Impact of Artificial Intelligence (AI) on Software Consulting Market
Emergence of artificial intelligence is expected to propel the market. AI-driven tools assist consultants in tasks, such as code analysis, testing, and project management, reducing the time and effort required for these processes.
AI-powered analytics and machine learning enable consultants to extract valuable information from large datasets for better decision-making and problem-solving. However, the utilization of this technology is leading to the automation of major consulting tasks, which is decreasing the demand for traditional consulting services.
Software Consulting Market Dynamics
Major Drivers
Increasing shift towards digitalizing business operations is expected to drive the market. Companies are adopting digital technology to manage their processes and activities. Digitalization offers efficiency, cost-effectiveness, and the ability to adapt to rapidly changing technology.
Software consultants help businesses identify cost-saving opportunities and implement digital solutions accordingly. Moreover, rising global spending towards digital transformation is boosting the software consulting market.
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According to the reports published on May 2, 2023, various companies are shifting towards the utilization of digital technologies, and around USD 3.4 trillion is estimated to be spent on digital transformation in 2026.
Existing Restraints
High technological complexity of implementing advanced software solutions is expected to hinder the market. Consultants need to invest time and resources in continuous learning to remain relevant. This is particularly demanding for solo consultants or small firms, which limits resources for training and skill development.
Emerging Opportunities
Growing demand for cloud computing services is expected to create immense opportunities for the players competing in the market. Organizations are increasingly transitioning their operations to the cloud to achieve scalability, cost-efficiency, and flexibility.
Software consultants provide expertise in transitioning to cloud-based solutions, optimizing cloud infrastructure, and ensuring data security in cloud environments. Moreover, the increasing need for consultants skilled in custom software development is further boosting the market.
Scope of Software Consulting Market Report
The report on the market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes |
Details |
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Report Title |
Software Consulting Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
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Base Year |
2022 |
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Historic Data |
2016–2021 |
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Forecast Period |
2023–2031 |
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Segmentation |
Application (Software Security Services, Enterprise Solutions, Application Testing Services, Application Development, Design Services, Migration & Maintenance Services, and Others), Enterprise Size (Small & Medium Enterprises (SMEs) and Large Enterprises), and End-user (Retail, Automotive, BFSI, Manufacturing, Education, IT & Telecom, Government, Healthcare, and Others) |
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Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
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Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
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Key Players Covered in the Report |
Accenture; Atos SE; Capgemini; CGI Inc; Clearfind; Cognizant; Deloitte Touche Tohmatsu Ltd.; Ernst & Young LLP; Oracle Corp.; PricewaterhouseCoopers B.V.; PwC; Rapport IT; SAP SE; and Trianz |
Software Consulting Market Segment Insights
Application Segment Analysis
Based on application, the software consulting market is divided into software security services, enterprise solutions, application testing services, application development, design services, migration & maintenance services, and others.
The enterprise solutions segment is expected to hold a major market revenue share during the forecast period, due to the increasing demand for software solutions, including customer relationship management, enterprise resource planning, and enterprise content management.
Enterprise solutions are being widely used in managing customer relationships and supply chains as well as optimizing financial processes. This versatility ensures that companies in various industries and of different sizes benefit from enterprise solutions, thus contributing to the segment growth.
The software security services segment is expected to expand at a significant CAGR during the forecast period, owing to the rise in cyber threats, including data breaches, ransomware attacks, and hacking incidents. This is encouraging businesses to prioritize cyber security measures to protect their software and digital infrastructure.
Consultants in software security services offer strategies and solutions to enhance data privacy and protect sensitive information. These factors are contributing to the market growth.
Enterprise Size Segment Analysis
On the basis of enterprise size, the market is classified as small & medium enterprises (SMES) and large enterprises. The small and medium enterprises segment is anticipated to register robust growth during the forecast period, as SMEs often operate with tighter budgets as compared to large enterprises.
Software consulting services offer the advantages ofaffordability, providing cost-effective solutions that address specific needs without extensive financial outlays.
Various SME organizations are focusing on developing dedicated IT infrastructure to cater to the growing consumer base, which is fueling the demand for software consulting services.
End-user Segment Analysis
In terms of end-user, the software consulting market is fragmented into retail, automotive, BFSI, manufacturing, education, it & telecom, government, healthcare, and others. The BFSI segment is expected to hold a key market share during the projected period, due to the increasing adoption of consulting services in the BFSI sectorxand enhance the overall customer experience.
Software consultants help organizations to implement customer-centric software solutions. These solutions enhance interactions, streamline processes, and improve the overall experience for clients. Additionally, the growing implementation of cloud-based solutions and services is fueling the demand for consulting to ensure data security.
The healthcare segment is projected to expand ata considerable CAGR during the forecast period,as software consultants overcome inter operability challenges and facilitate smooth communication between different systems.
The role of software consultants is to streamline data exchange and system integration to reduce medical errors and enhance the overall quality of healthcare delivery. Moreover, the rise in telehealth and remote patient monitoring is further propelling the demand for software consulting to ensure efficient delivery of remote care.
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Based on a report published by the Centers for Disease Control and Prevention in October 2022, approximately 37% of adults aged 18 years and above used telemedicine in the past 12 months of 2021. The report highlights an increase in the number of adults using telemedicine with age, from 29.4% among adults aged between 18 years and 29 years to 43.3% among adults aged 65 years and over.
Regional Outlook
In terms of region, the global software consulting market is segmented into Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to dominate the market,due to the presence of a well-established diverse range of industries, from finance to healthcare, manufacturing, and entertainment.
Each of these sectors requires specialized software solutions. Software consultants in this region cater to these diverse needs by offering tailored services across various industries. Additionally, the strong tech ecosystem in North America generates high demand for software consulting services.
The market in Asia Pacific is anticipated to expand at a rapid pace in the coming years, due to the rapid surge in technology adoption. Businesses and governments across the region are embracing digital solutions to enhance efficiency and improve services. This growing adoption of technology fuels the demand for software consulting services.
Segments
The global software consulting market has been segmented on the basis of
Application
- Software Security Services
- Enterprise Solutions
- Application Testing Services
- Application Development
- Design Services
- Migration & Maintenance Services
- Others
Enterprise Size
- Small & Medium Enterprises (SMEs)
- Large Enterprises
End-user
- Retail
- Automotive
- BFSI
- Manufacturing
- Education
- IT & Telecom
- Government
- Healthcare
- Others
Region
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
Competitive Landscape
Key players competing in the global software consulting market are Accenture; Atos SE; Capgemini; CGI Inc; Clearfind; Cognizant; Deloitte Touche Tohmatsu Ltd.; Ernst & Young LLP; Oracle Corp.; Price water house Coopers B.V.; PwC; Rapport IT; SAP SE; and Trianz.
These companies are boosting their market share by adopting various strategies, such as partnerships, mergers, reduction in production costs, launching products, and implementing advanced technologies.
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On October 11, 2022, Accenture, a key provider of information technology services and consulting, and Google Cloud announced the expansion of their global partnership. The new collaboration aims to develop innovative solutions using data and AI, grow their respective talent, enhance their joint capabilities, and offer improved support to help build strong digital infrastructure and improve enterprise cloud solutions.
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On October 28, 2022, Capgemini, a multinational information technology consulting and services company, entered into an agreement to acquire Quantmetry, an independent consulting firm. This acquisition is expected tohelp Capgemini expand itsdata transformation and AI capabilities in France.
Table Of Content
1. Executive Summary2. Assumptions and Acronyms Used
3. Research Methodology
4. Software Consulting Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Software Consulting Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Software Consulting Market - Supply Chain
4.5. Global Software Consulting Market Forecast
4.5.1. Software Consulting Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Software Consulting Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Software Consulting Market Absolute $ Opportunity
5. Global Software Consulting Market Analysis and Forecast by Applications
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Applications
5.2.2. Y-o-Y Growth Projections by Applications
5.3. Software Consulting Market Size and Volume Forecast by Applications
5.3.1. Software Security Services
5.3.2. Enterprise Solutions
5.3.3. Application Testing Services
5.3.4. Application Development
5.3.5. Design Services
5.3.6. Migration & Maintenance Services
5.3.7. Others
5.4. Absolute $ Opportunity Assessment by Applications
5.5. Market Attractiveness/Growth Potential Analysis by Applications
6. Global Software Consulting Market Analysis and Forecast by End Users
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by End Users
6.2.2. Y-o-Y Growth Projections by End Users
6.3. Software Consulting Market Size and Volume Forecast by End Users
6.3.1. Retail
6.3.2. Automotive
6.3.3. BFSI
6.3.4. Manufacturing
6.3.5. Education
6.3.6. IT & Telecom
6.3.7. Government
6.4. Absolute $ Opportunity Assessment by End Users
6.5. Market Attractiveness/Growth Potential Analysis by End Users
7. Global Software Consulting Market Analysis and Forecast by Region
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Region
7.2.2. Y-o-Y Growth Projections by Region
7.3. Software Consulting Market Size and Volume Forecast by Region
7.3.1. North America
7.3.2. Latin America
7.3.3. Europe
7.3.4. Asia Pacific
7.3.5. Middle East and Africa (MEA)
7.4. Absolute $ Opportunity Assessment by Region
7.5. Market Attractiveness/Growth Potential Analysis by Region
7.6. Global Software Consulting Demand Share Forecast, 2019-2026
8. North America Software Consulting Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.2. North America Software Consulting Market Size and Volume Forecast by Country
8.2.1. U.S.
8.2.2. Canada
8.3. Absolute $ Opportunity Assessment by Country
8.4. North America Software Consulting Market Size and Volume Forecast by Applications
8.4.1. Software Security Services
8.4.2. Enterprise Solutions
8.4.3. Application Testing Services
8.4.4. Application Development
8.4.5. Design Services
8.4.6. Migration & Maintenance Services
8.4.7. Others
8.5. Basis Point Share (BPS) Analysis by Applications
8.6. Y-o-Y Growth Projections by Applications
8.7. North America Software Consulting Market Size and Volume Forecast by End Users
8.7.1. Retail
8.7.2. Automotive
8.7.3. BFSI
8.7.4. Manufacturing
8.7.5. Education
8.7.6. IT & Telecom
8.7.7. Government
8.8. Basis Point Share (BPS) Analysis by End Users
8.9. Y-o-Y Growth Projections by End Users
8.10. Market Attractiveness/Growth Potential Analysis
8.10.1. By Country
8.10.2. By Product Type
8.10.3. By Application
8.11. North America Software Consulting Demand Share Forecast, 2019-2026
9. Latin America Software Consulting Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Latin America Average Pricing Analysis
9.2. Latin America Software Consulting Market Size and Volume Forecast by Country
9.2.1. Brazil
9.2.2. Mexico
9.2.3. Rest of Latin America
9.3. Absolute $ Opportunity Assessment by Country
9.4. Latin America Software Consulting Market Size and Volume Forecast by Applications
9.4.1. Software Security Services
9.4.2. Enterprise Solutions
9.4.3. Application Testing Services
9.4.4. Application Development
9.4.5. Design Services
9.4.6. Migration & Maintenance Services
9.4.7. Others
9.5. Basis Point Share (BPS) Analysis by Applications
9.6. Y-o-Y Growth Projections by Applications
9.7. Latin America Software Consulting Market Size and Volume Forecast by End Users
9.7.1. Retail
9.7.2. Automotive
9.7.3. BFSI
9.7.4. Manufacturing
9.7.5. Education
9.7.6. IT & Telecom
9.7.7. Government
9.8. Basis Point Share (BPS) Analysis by End Users
9.9. Y-o-Y Growth Projections by End Users
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.11. Latin America Software Consulting Demand Share Forecast, 2019-2026
10. Europe Software Consulting Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Europe Average Pricing Analysis
10.2. Europe Software Consulting Market Size and Volume Forecast by Country
10.2.1. Germany
10.2.2. France
10.2.3. Italy
10.2.4. U.K.
10.2.5. Spain
10.2.6. Russia
10.2.7. Rest of Europe
10.3. Absolute $ Opportunity Assessment by Country
10.4. Europe Software Consulting Market Size and Volume Forecast by Applications
10.4.1. Software Security Services
10.4.2. Enterprise Solutions
10.4.3. Application Testing Services
10.4.4. Application Development
10.4.5. Design Services
10.4.6. Migration & Maintenance Services
10.4.7. Others
10.5. Basis Point Share (BPS) Analysis by Applications
10.6. Y-o-Y Growth Projections by Applications
10.7. Europe Software Consulting Market Size and Volume Forecast by End Users
10.7.1. Retail
10.7.2. Automotive
10.7.3. BFSI
10.7.4. Manufacturing
10.7.5. Education
10.7.6. IT & Telecom
10.7.7. Government
10.8. Basis Point Share (BPS) Analysis by End Users
10.9. Y-o-Y Growth Projections by End Users
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.11. Europe Software Consulting Demand Share Forecast, 2019-2026
11. Asia Pacific Software Consulting Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Asia Pacific Average Pricing Analysis
11.2. Asia Pacific Software Consulting Market Size and Volume Forecast by Country
11.2.1. China
11.2.2. Japan
11.2.3. South Korea
11.2.4. India
11.2.5. Australia
11.2.6. Rest of Asia Pacific (APAC)
11.3. Absolute $ Opportunity Assessment by Country
11.4. Asia Pacific Software Consulting Market Size and Volume Forecast by Applications
11.4.1. Software Security Services
11.4.2. Enterprise Solutions
11.4.3. Application Testing Services
11.4.4. Application Development
11.4.5. Design Services
11.4.6. Migration & Maintenance Services
11.4.7. Others
11.5. Basis Point Share (BPS) Analysis by Applications
11.6. Y-o-Y Growth Projections by Applications
11.7. Asia Pacific Software Consulting Market Size and Volume Forecast by End Users
11.7.1. Retail
11.7.2. Automotive
11.7.3. BFSI
11.7.4. Manufacturing
11.7.5. Education
11.7.6. IT & Telecom
11.7.7. Government
11.8. Basis Point Share (BPS) Analysis by End Users
11.9. Y-o-Y Growth Projections by End Users
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.11. Asia Pacific Software Consulting Demand Share Forecast, 2019-2026
12. Middle East & Africa Software Consulting Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Middle East & Africa Average Pricing Analysis
12.2. Middle East & Africa Software Consulting Market Size and Volume Forecast by Country
12.2.1. Saudi Arabia
12.2.2. South Africa
12.2.3. UAE
12.2.4. Rest of Middle East & Africa (MEA)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Middle East & Africa Software Consulting Market Size and Volume Forecast by Applications
12.4.1. Software Security Services
12.4.2. Enterprise Solutions
12.4.3. Application Testing Services
12.4.4. Application Development
12.4.5. Design Services
12.4.6. Migration & Maintenance Services
12.4.7. Others
12.5. Basis Point Share (BPS) Analysis by Applications
12.6. Y-o-Y Growth Projections by Applications
12.7. Middle East & Africa Software Consulting Market Size and Volume Forecast by End Users
12.7.1. Retail
12.7.2. Automotive
12.7.3. BFSI
12.7.4. Manufacturing
12.7.5. Education
12.7.6. IT & Telecom
12.7.7. Government
12.8. Basis Point Share (BPS) Analysis by End Users
12.9. Y-o-Y Growth Projections by End Users
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.11. Middle East & Africa Software Consulting Demand Share Forecast, 2019-2026
13. Competition Landscape
13.1. Global Software Consulting Market: Market Share Analysis
13.2. Software Consulting Distributors and Customers
13.3. Software Consulting Market: Competitive Dashboard
13.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
13.4.1. Accenture
13.4.2. Atos SE
13.4.3. Capgemini
13.4.4. CGI Inc
13.4.5. Clearfind
13.4.6. Cognizant
13.4.7. Deloitte Touche Tohmatsu Ltd.
13.4.8. Ernst & Young LLP
13.4.9. Oracle Corp.
13.4.10. PricewaterhouseCoopers B.V.
13.4.11. PwC
13.4.12. Rapport IT
13.4.13. SAP SE
13.4.14. Trianz
Methodology
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