Software Consulting Market (By Application: Enterprise Solutions, Application Development, Migration & Maintenance Services, Design Services, Application Testing Services, Software Security Services, Others; By Enterprise Size: Large Enterprise, Small & Medium Enterprises (SMEs); By End-Use: Automotive, BFSI, Education, Government, Healthcare, IT & Telecom, Manufacturing, Retail, Others) - Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2023-2032

The global software consulting market size was exhibited at USD 275.89 billion in 2022 and is projected to hit around USD 903.10 billion by 2032, growing at a CAGR of 12.59% during the forecast period 2023 to 2032.

Key Pointers:

• North America dominated the global market and generated more than 33.6% of the revenue share in 2022. 
• Asia Pacific region is expected to expand at a remarkable compound annual growth rate (CAGR) from 2023 to 2032. 
• By Application, The enterprise solutions segment capture more than 23.7% of revenue share in 2022,
• By Enterprise Size, the large enterprise segment contributed a market share of more than 63.8% in 2022. 
• By Enterprise Size, the small and medium enterprises (SMEs) segment is expected to expand at the fastest Compound Annual Growth Rate (CAGR) between 2023 and 2032.
• By End-use, The BFSI segment generated more than 21.9% of revenue share in 2022.

Software Consulting Market Report Scope

The growing preference for digitalization of business processes across industries and verticals is driving the market growth, primarily for the efficient implementation of software into the IT set up of an enterprise. However, numerous industries are facing significant ramifications and complications across critical processes owing to the Covid-19 pandemic and global economic slowdown. While the market witnessed significant growth over the last few years owing to digitalization and penetration of technology, the pandemic has pushed several economies to the edge of recession. This, in turn, is leading to numerous consulting clients delaying their projects, reducing project scope to reduce costs, or canceling these projects altogether. The cancellation of multiple client projects has negatively impacted the revenues of vendors and slowed down the market growth in the short term.

In the wake of the pandemic, vendors are focusing on adopting a digitally centered approach to provide their services at a lower cost while eliminating expenses, such as travel costs of consultants. With virtual consulting platforms, vendor scan delivers high-impact outcomes similar to that of physical training but without the need for consultants to be physically present. Service providers are also focused on attracting new clients that are looking to reduce operational spending via automation while opting for innovative solutions to resolve complex business problems.

The digitization of industries and the evolution of the Enterprise 2.0 concept, which involves the use of a combination of social software and collaborative technologies for business processes, are the main factors driving the market growth. Technological developments in cloud computing and data analytics are increasing the demand for new services and encouraging enterprises to adopt novel and innovative solutions. In addition, the growing demand for software consulting services is expected to drive investments in advanced software technologies. These services aid enterprises in decision-making processes vis-à-vis their investment strategy for software adoption.

Organizations are putting a strong emphasis on improving work quality, enhancing delivery speed, reducing the cost of work, and increasing transparency & accountability via software implementation. Owing to the global pandemic, organizations are finding it difficult to meet the end users’ demands; hence, they are increasingly opting for software consulting solutions and services to accelerate service delivery.

On the other hand, with rapid digitalization, instances of data theft are equally on the rise as hackers are trying to leverage the growing adoption of software and rising penetration rate of cloud computing to gain access to vital organizational data. This is anticipated to hamper the software consulting market growth to a certain extent.

Some of the prominent players in the Software Consulting Market include:

• Accenture PLC
• Atos SE
• Capgemini
• CGI Group, Inc.
• Clearfind
• Cognizant
• Deloitte Touche Tohmatsu Ltd.
• Ernst & Young LLP
• International Business Machines Corp.
• Oracle Corp.
• PricewaterhouseCoopers B.V.
• Rapport IT
• SAP SE

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2032. For this study, Nova one advisor, Inc. has segmented the global Software Consulting market.

By Application

• Enterprise Solutions
• Application Development
• Migration & Maintenance Services
• Design Services
• Application Testing Services
• Software Security Services
• Others

By Enterprise Size

• Large Enterprise
• Small & Medium Enterprises (SMEs)

By End-Use

• Automotive
• BFSI
• Education
• Government
• Healthcare
• IT & Telecom
• Manufacturing
• Retail
• Others

By Region

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa (MEA)