LONDON, March 16, 2022 (GLOBE NEWSWIRE) — According to The Business Research Company’s research report on the Software Consulting Market, the increasing adoption of cloud computing by businesses is the main driver behind the growth of the software consulting market. Companies are increasingly using the latest technologies such as cloud computing to increase productivity and efficiency. In 2020, the cloud services industry was valued at around $200 billion, and most companies are expected to increase their budget for cloud spending by around 50%. Hence, the increasing adoption of cloud computing is having a positive impact on the scope of the software consulting market.
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The global software consulting market size is expected to keep growing $209.8 billion in 2021 to $234.38 billion in 2022 at a compound annual growth rate (CAGR) of 12.18%. The growth of the market is mainly due to companies reorganizing their operations and recovering from the impact of COVID-19 which had previously led to restrictive containment measures with social distancing, teleworking and the closure of commercial activities creating operational challenges led . The market is expected to reach $375.17 billion in 2026 at a CAGR of 12.46%.
Remote consulting services are gaining popularity among the software consulting market trends. Software consulting firms are increasingly offering remote consulting services in response to the COVID-19 pandemic and to improve their efficiency. Virtual advice is also likely to be widespread in the future. Large IT consulting companies such as IBM, Oracle and Accenture offer virtual and remote consulting services.
Major players in the Software Consulting Market are Cap Gemini, Atos SE, Oracle, Accenture, IBM Corporation, Deloitte Touche Tohmatsu Limited, CGI Group Inc., Cognizant, Ernst & Young Global Limited and SAP SE.
By type, the global software consulting market is segmented into enterprise solutions, application development, migration and maintenance services, design services; by company size in large, small and medium-sized companies; by end-use industries in Automotive, Education, Government, Healthcare, IT & Telecom, Manufacturing.
2021, North America was that largest region in the software consulting market. Asia Pacific is expected to be the fastest growing region in the global software consulting market during the forecast period. The regions covered in this report are Asia Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East and Africa.
Software Consulting Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company providing Software Consulting market overviews, Software Consulting market analysis and market size and growth forecast for overall market, market segments Software Consultancy and Regions, Software Consultancy Market Trends, Software Consultancy Market Drivers, Software Consultancy Market Constraints, Revenues, Profiles and Market Share of leading Software Consultancy competitors in 1,000+ industry reports covering 2,500+ market segments and 60 geographies.
The report also includes an in-depth analysis of the impact of COVID-19 on the market. The reports are backed by 150,000 datasets, extensive secondary research and exclusive insights from interviews with industry leaders. A very experienced and competent team of analysts and modelers creates market analyzes and forecasts. The reports identify the key countries and segments for opportunities and strategies based on market trends and approaches by leading competitors.
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