NEW YORK, 13 November 2023 /PRNewswire/ — The Software consulting market by End User (BFSI, IT & Telecom, Manufacturing, Healthcare & Government & Others), Type (Large Enterprise, Small & Medium Enterprises) and Geography (North America, EuropeAPAC, Middle East and Africaand South America) – The Forecast and Analysis 2023-2027 report has been added to the 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 of 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 drivers, latest trends and much more. Buy the full report here
The increased adoption of cloud-based services is driving market growth. There is a growing adoption of Cloud-based solutions that enable companies to innovate their business models by leveraging technologies including Big Data, AI and IoT, which provide a robust platform for the digital transformation of their businesses. Therefore, such factors drive the market growth.
Market Challenge –
The increase in cyberattack activities is a significant challenge facing the software consulting market. Cyber-attacks have a very significant impact on businesses and, as a consequence, can lead to production problems and loss of revenue. Moreover, these attacks raise questions about the security of IoT and cloud-based solutions limit the adoption of these technologies among end users and may 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, EuropeAPAC, Middle East and Africaand South America).
Market share growth of BFSI segment is significant in the expected period. More companies operating in the banking, financial services and insurance (BFSI) sector are increasingly investing in software consulting solutions to minimize costs, find new revenue streams, improve security and compliance systems and make customer support more efficient. Therefore, such factors fuel the growth of this segment which in turn drives the market growth.
North America Accounts for 35% of market growth in the forecast period. One of the most important countries in North America What is significantly contributing to the market growth in the region is the USA due to its strong IT infrastructure. Therefore, such factors drive the market growth in North America.
View the free samples of the report for insight into the contribution of all 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. ., 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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Historical market sizes
Five forces analysis
Market segmentation of the end user
Market Segmentation by Type
Market segmentation by geography
Drivers, challenges and trends
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