Custom Application Development Service Market by Deployment and Geography - Forecast and Analysis 2021-2025

  • Published: Sep 2021
  • Pages: 120
  • SKU: IRTNTR41185
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The custom application development service market has the potential to grow by USD 31.76 billion during 2021-2025, and the market’s growth momentum will accelerate at a CAGR of 7.93%.

This custom application development service market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by deployment (on-premise and cloud) and geography (North America, Europe, APAC, South America, and MEA). The custom application development service market report also offers information on several market vendors, including Accenture Plc, Bourntec Solutions Inc., Capgemini SE, Cognizant Technology Solutions Corp., HCL Technologies Ltd., Iblesoft Inc., Infanion, Infosys Ltd., International Business Machines Corp., and Tata Consultancy Services Ltd. among others.

What will the Custom Application Development Service Market Size be in 2021?

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Custom Application Development Service Market: Key Drivers and Trends

Based on our research output, there has been a positive impact on the market growth during and post COVID-19 era. The increasing adoption of cloud-based services is notably driving the custom application development services market growth, although factors such as availability of open-source platforms may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the custom application development service industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

  • The increasing adoption of cloud-based services will fuel the growth of the custom application development service market size.
  • The demand for cloud-based services is increasing among small- and medium-sized enterprises as they offer advantages such as ease of access, flexibility, cost-effectivity, and security.
  • Vendors in the market are offering cloud-based application services that simplify the process and allow the administrator to securely collaborate with team members, customers, partners, and suppliers.
  • Companies across the world are partnering with vendors operating in the market to deploy cloud-based applications to manage their business lifecycles. 
  • The growing adoption of analytics in enterprise applications is one of the key custom application development service market trends.
  • The development of an enterprise application with the help of analytics facilitates the assessment and streamlining of customer data and marketing strategies.
  • Applications integrated with analytics developed by service providers enable enterprises to understand their customers better and make insight-based marketing decisions.
  • The analysis of customer data helps enterprises develop new customer-centric marketing strategies and campaigns.

This custom application development service market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Who are the Major Custom Application Development Service Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • Accenture Plc
  • Bourntec Solutions Inc.
  • Capgemini SE
  • Cognizant Technology Solutions Corp.
  • HCL Technologies Ltd.
  • Iblesoft Inc.
  • Infanion
  • Infosys Ltd.
  • International Business Machines Corp.
  • Tata Consultancy Services Ltd.

 

This statistical study of the custom application development service market encompasses successful business strategies deployed by the key vendors. The custom application development services market is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The custom application development service market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Custom Application Development Service Market?

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38% of the market’s growth will originate from North America during the forecast period. The US is a key market for custom application development services in North America. Market growth in this region will be faster than the growth of the market in Europe, MEA, and South America.

The increasing adoption of advanced technologies and the rising use of smartphones by consumers and enterprises to develop applications will facilitate the custom application development service market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating Deployment Segments in the Custom Application Development Service Market?

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The custom application development service market share growth by the on-premise segment will be significant during the forecast period. On-premise custom applications are used by companies that demand more control and ownership of the hardware and software. Large companies that deal with critical business information prefer on-premise application development services as they provide an optimum level of data security with physical access controls and security protocols. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the custom application development services market size and actionable market insights on post COVID-19 impact on each segment.

 

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What are the Key Factors Covered in this Custom Application Development Service Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive custom application development service market growth during the next five years
  • Precise estimation of the custom application development service market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the custom application development services industry across North America, Europe, APAC, South America, and MEA
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of custom application development services market vendors

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Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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The custom application development service market growth will increase by $26.74 billion during 2019-2024.
The custom application development service market is expected to grow at a CAGR of 7.45% during 2019-2024.
Technavio has segmented the custom application development service market by deployment (On-premise and Cloud) and geographic (North America, Europe, APAC, South America, and MEA).
Accenture Plc, Bourntec Solutions Inc., Capgemini SE, Cognizant Technology Solutions Corp., HCL Technologies Ltd., HP Inc., Iblesoft Inc., Infosys Ltd., International Business Machines Corp., Tata Consultancy Services Ltd. are a few of the key vendors in the custom application development service market.
North America will register the highest growth rate of 38.03% among the other regions. Therefore, the custom application development service market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
The key factors driving the custom application development service market growth are:
  • Increasing adoption of cloud-based services
The custom application development service market vendors should focus on grabbing business opportunities from the on-premise segment as it accounted for the largest market share in the base year.
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