Software Consulting Market to grow by USD 207.63 billion from 2022 – 2027, Increased adoption of cloud-based services boosts the market – Technavio

NEW YORK, Nov. 13, 2023 /PRNewswire/ — The software consulting market by end-user (BFSI, IT and telecom, manufacturing, healthcare, and government and others), type (large enterprise, small, and medium enterprises), and geography (North America, Europe, APAC, Middle East and Africa, and South America) – Forecast and Analysis 2023-2027 report has been added to technavio offering. With ISO 9001:2015 certification, Technavio has proudly partnered with more than 100 Fortune 500 companies for over 16 years. The potential growth difference for the software consulting market between 2023 and 2027 is USD 207.63  billion. Get deeper insights into the market size, current market scenario, future growth opportunities, major growth driving factors, the latest trends, and much more. Buy the full report here

The increased adoption of cloud-based services drives market growth. There is a growing adoption of. cloud-based solutions that enable enterprises to revamp their business models by leveraging technologies, including big data, AI, and IoT, which provide a robust platform for the digital transformation of their businesses. Hence, such factors drive the market growth.

Market Challenge –

The rise in cyberattack activities is a significant challenge faced by the software consulting market. Cyber attacks have a very significant impact on companies and, as a consequence can lead to production problems and loss of revenue. Furthermore, these attacks raise questions about the security of IoT and cloud-based solutions limit the adoption of these technologies among end-users, and can hinder the market growth during the forecast period.

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The software consulting market has been segmented by end-user (BFSI, IT and telecom, manufacturing, healthcare, and government and others), type (large enterprise, small, and medium enterprises), and geography (North America, Europe, APAC, Middle East and Africa, and South America). 

The market share growth by the BFSI segment is significant during the forecast period. Several companies operating in the banking, financial services, and insurance (BFSI) sector are increasingly investing in software consulting solutions to minimize costs, find new revenue-generating streams, improve security and compliance systems, and make customer support more efficient. Hence, such factors are fuelling the growth of this segment which in turn drives the market growth.

North America accounts for 35% of market growth during the forecast period. One of the main countries in North America which is significantly contributing to the market growth in the region is the US due to its strong IT infrastructure. Hence, such factors drive the market growth in North America.

View the Free Sample Report for insights into the contribution of all the segments and regional opportunities in the report.

Key Companies in the Software Consulting Market:

Accenture Plc, AECOM, Atos SE, Capgemini Service SAS, CGI Inc., Clearfind, Deloitte Touche Tohmatsu Ltd., Ernst and Young Global Ltd., Grant Thornton International Ltd., International Business Machines Corp., KBR Inc., KPMG International Ltd., McKinsey and Co., NEC Corp., Oracle Corp., PricewaterhouseCoopers LLP, Ramboll Group AS, Rapport IT Services INC, SAP SE, and SGS SA

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ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by End-user

Market Segmentation by Type

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio