Custom Software Development Global Market Report 2024

Description

Custom software development involves the strategic creation of specialized software solutions to address the unique challenges faced by individuals or organizations. This comprehensive process encompasses conceptualization, design, construction, deployment, and ongoing maintenance of software tailored to meet specific user requirements, surpassing the capabilities offered by standard off-the-shelf packages.

The primary categories of custom software development solutions include web-based solutions, mobile applications, and enterprise software. Web-based solutions entail crafting bespoke software applications intended for operation within web browsers, adeptly addressing distinct business demands and specifications. These solutions are deployable both in the cloud and on-premise, catering to the requirements of diverse entities, ranging from large enterprises to small and medium-sized enterprises (SMEs). They find utility across various sectors, including banking, financial services, and insurance (BFSI), government, healthcare, information technology and telecommunications, manufacturing, retail, and beyond.

The custom software development research report is one of a series of new reports from The Business Research Company that provides custom software development market statistics, including the custom software development industry's global market size, regional shares, competitors with a custom software development market share, detailed custom software development market segments, market trends and opportunities, and any further data you may need to thrive in the custom software development industry. This custom software development market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The custom software development market size has grown exponentially in recent years. It will grow from $36.36 billion in 2023 to $44.86 billion in 2024 at a compound annual growth rate (CAGR) of 23.4%. The expansion observed during the historical period can be ascribed to the adoption of agile and DevOps methodologies, heightened cybersecurity considerations, rising customer demands, regulatory adherence, evolving business frameworks, and the trend towards globalization.

The custom software development market size is expected to see exponential growth in the next few years. It will grow to $105.02 billion in 2028 at a compound annual growth rate (CAGR) of 23.7%. Anticipated growth in the forecast period is driven by the acceleration of digital transformation initiatives, heightened emphasis on cybersecurity measures, the proliferation of remote work and collaboration tools, and a renewed focus on data privacy and compliance. Notable trends expected during this period encompass hyper-automation, the adoption of containerization and microservices architectures, an enhanced emphasis on user experience, advancements in augmented reality and virtual reality technologies, applications of quantum computing, and the promotion of ethical and responsible artificial intelligence practices.

The rising utilization of robotic automation is anticipated to significantly contribute to the expansion of the custom software development industry. Robotic automation involves a software technology designed for the easy construction, deployment, and management of software robots that mimic human interactions with digital interfaces and software solutions. This surge in adoption is attributed to robotic automation's capacity to augment efficiency, productivity, and accuracy across various sectors, simultaneously decreasing operational expenditures. Custom software development plays a pivotal role in enhancing the functionality and integration of robotics within automation processes, addressing needs such as control mechanisms, sensor integration, route planning, and data analysis. For instance, as reported by the International Federation of Robotics (IFR), a United States-based non-profit organization, the year 2022 saw 553,052 industrial robots being installed worldwide, marking a 5% increase compared to the previous year. Additionally, from a regional perspective, Asia was responsible for 73% of these new installations, with Europe and the USA contributing 15% and 10%, respectively. Thus, the burgeoning adoption of robotic automation serves as a key driver for the custom software development sector's growth.

Leading enterprises in the custom software development sector are pivoting towards innovation, specifically by venturing into virtual reality (VR) applications, to enhance their market revenue. This shift is aimed at enabling content creators through the introduction of cutting-edge virtual production technologies. In a notable development, Flipside XR, a pioneering VR firm based in Canada, unveiled its latest offering in March 2023 - Flipside Studio Support, backed by Meta. This VR application is tailored for creators, facilitating the real-time creation of animated content with advanced virtual production tools. Upon completion, it allows for seamless uploading and dissemination across major social media channels, including YouTube, TikTok, Twitch, and others. The application provides a comprehensive suite of tools and features, enabling creators to produce engaging and high-quality videos by harnessing the immersive potential of VR technology.

In February 2021, Cognizant, a prominent US-based IT services and consulting firm, acquired Magenic Technologies Inc., a move aimed at bolstering its software product engineering capabilities and expanding expertise in custom software development. This strategic acquisition underscores Cognizant's commitment to enhancing its offerings and market presence in software development.

Major companies operating in the custom software development market are Accenture plc, Tata Consultancy Services Limited, Infosys Limited, Capgemini SE, HCL Technologies Limited, Tech Mahindra Limited, EPAM Systems Inc., Wipro Limited, Persistent Systems Limited, Kalibroida Technology Solutions Inc., N-iX LLC, Intetics Inc., ScienceSoft USA Corporation, Hexacta S.A., Chetu Inc., Fingent Corporation, Svitla Systems Inc., Iflexion Interactive Inc., MentorMate LLC, Icreon Tech Inc., TRooTech Business Solutions Pvt. Ltd., Brainvire Infotech Inc., Magora Systems Limited, Belitsoft LLC, Trigent Software Inc.

North America was the largest region in the custom software development market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the custom software development market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the custom software development market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The custom software development market includes revenues earned by entities providing services such as software consulting, requirements analysis, web application development, enterprise software development, quality assurance, and testing and integration services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Including: 1) By Solution: Web-Based Solutions; Mobile App; Enterprise Software
2) By Deployment: Cloud; On-Premise
3) By Enterprise Size: Large Enterprises; Small And Medium Enterprises (SMEs)
4) By End User: Banking, Financial Services, And Insurance; Government; Healthcare; Information Technology And Telecom; Manufacturing; Retail
Covering: Accenture plc; Tata Consultancy Services Limited; Infosys Limited; Capgemini SE; HCL Technologies Limited

Product Code: r17331

1. Executive Summary

2. Custom Software Development Market Characteristics

3. Custom Software Development Market Trends And Strategies

4. Custom Software Development Market - Macro Economic Scenario

4.1. Impact Of High Inflation On The Market
4.2. Ukraine-Russia War Impact On The Market
4.3. COVID-19 Impact On The Market

5. Global Custom Software Development Market Size and Growth

5.1. Global Custom Software Development Market Drivers and Restraints
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints Of The Market
5.2. Global Custom Software Development Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global Custom Software Development Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)

6. Custom Software Development Market Segmentation

6.1. Global Custom Software Development Market, Segmentation By Solution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Web-Based Solutions
Mobile App
Enterprise Software
6.2. Global Custom Software Development Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Cloud
On-Premise
6.3. Global Custom Software Development Market, Segmentation By Enterprise Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Large Enterprises
Small And Medium Enterprises (SMEs)
6.4. Global Custom Software Development Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Banking, Financial Services, And Insurance
Government
Healthcare
Information Technology And Telecom
Manufacturing
Retail
Other End-Users

7. Custom Software Development Market Regional And Country Analysis

7.1. Global Custom Software Development Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Custom Software Development Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8. Asia-Pacific Custom Software Development Market

8.1. Asia-Pacific Custom Software Development Market Overview
Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Custom Software Development Market, Segmentation By Solution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.3. Asia-Pacific Custom Software Development Market, Segmentation By Enterprise Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.4. Asia-Pacific Custom Software Development Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

9. China Custom Software Development Market

9.1. China Custom Software Development Market Overview
9.2. China Custom Software Development Market, Segmentation By Solution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.3. China Custom Software Development Market, Segmentation By Enterprise Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.4. China Custom Software Development Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

10. India Custom Software Development Market

10.1. India Custom Software Development Market, Segmentation By Solution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.2. India Custom Software Development Market, Segmentation By Enterprise Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.3. India Custom Software Development Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11. Japan Custom Software Development Market

11.1. Japan Custom Software Development Market Overview
11.2. Japan Custom Software Development Market, Segmentation By Solution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.3. Japan Custom Software Development Market, Segmentation By Enterprise Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.4. Japan Custom Software Development Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12. Australia Custom Software Development Market

12.1. Australia Custom Software Development Market, Segmentation By Solution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.2. Australia Custom Software Development Market, Segmentation By Enterprise Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.3. Australia Custom Software Development Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13. Indonesia Custom Software Development Market

13.1. Indonesia Custom Software Development Market, Segmentation By Solution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.2. Indonesia Custom Software Development Market, Segmentation By Enterprise Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.3. Indonesia Custom Software Development Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14. South Korea Custom Software Development Market

14.1. South Korea Custom Software Development Market Overview
14.2. South Korea Custom Software Development Market, Segmentation By Solution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.3. South Korea Custom Software Development Market, Segmentation By Enterprise Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.4. South Korea Custom Software Development Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15. Western Europe Custom Software Development Market

15.1. Western Europe Custom Software Development Market Overview
15.2. Western Europe Custom Software Development Market, Segmentation By Solution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.3. Western Europe Custom Software Development Market, Segmentation By Enterprise Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.4. Western Europe Custom Software Development Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16. UK Custom Software Development Market

16.1. UK Custom Software Development Market, Segmentation By Solution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.2. UK Custom Software Development Market, Segmentation By Enterprise Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.3. UK Custom Software Development Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17. Germany Custom Software Development Market

17.1. Germany Custom Software Development Market, Segmentation By Solution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.2. Germany Custom Software Development Market, Segmentation By Enterprise Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.3. Germany Custom Software Development Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18. France Custom Software Development Market

18.1. France Custom Software Development Market, Segmentation By Solution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.2. France Custom Software Development Market, Segmentation By Enterprise Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.3. France Custom Software Development Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19. Italy Custom Software Development Market

19.1. Italy Custom Software Development Market, Segmentation By Solution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.2. Italy Custom Software Development Market, Segmentation By Enterprise Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.3. Italy Custom Software Development Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20. Spain Custom Software Development Market

20.1. Spain Custom Software Development Market, Segmentation By Solution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.2. Spain Custom Software Development Market, Segmentation By Enterprise Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.3. Spain Custom Software Development Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21. Eastern Europe Custom Software Development Market

21.1. Eastern Europe Custom Software Development Market Overview
21.2. Eastern Europe Custom Software Development Market, Segmentation By Solution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.3. Eastern Europe Custom Software Development Market, Segmentation By Enterprise Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.4. Eastern Europe Custom Software Development Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22. Russia Custom Software Development Market

22.1. Russia Custom Software Development Market, Segmentation By Solution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.2. Russia Custom Software Development Market, Segmentation By Enterprise Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.3. Russia Custom Software Development Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23. North America Custom Software Development Market

23.1. North America Custom Software Development Market Overview
23.2. North America Custom Software Development Market, Segmentation By Solution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.3. North America Custom Software Development Market, Segmentation By Enterprise Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.4. North America Custom Software Development Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24. USA Custom Software Development Market

24.1. USA Custom Software Development Market Overview
24.2. USA Custom Software Development Market, Segmentation By Solution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.3. USA Custom Software Development Market, Segmentation By Enterprise Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.4. USA Custom Software Development Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25. Canada Custom Software Development Market

25.1. Canada Custom Software Development Market Overview
25.2. Canada Custom Software Development Market, Segmentation By Solution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.3. Canada Custom Software Development Market, Segmentation By Enterprise Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.4. Canada Custom Software Development Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26. South America Custom Software Development Market

26.1. South America Custom Software Development Market Overview
26.2. South America Custom Software Development Market, Segmentation By Solution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.3. South America Custom Software Development Market, Segmentation By Enterprise Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.4. South America Custom Software Development Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27. Brazil Custom Software Development Market

27.1. Brazil Custom Software Development Market, Segmentation By Solution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.2. Brazil Custom Software Development Market, Segmentation By Enterprise Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.3. Brazil Custom Software Development Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28. Middle East Custom Software Development Market

28.1. Middle East Custom Software Development Market Overview
28.2. Middle East Custom Software Development Market, Segmentation By Solution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.3. Middle East Custom Software Development Market, Segmentation By Enterprise Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.4. Middle East Custom Software Development Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29. Africa Custom Software Development Market

29.1. Africa Custom Software Development Market Overview
29.2. Africa Custom Software Development Market, Segmentation By Solution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.3. Africa Custom Software Development Market, Segmentation By Enterprise Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.4. Africa Custom Software Development Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

30. Custom Software Development Market Competitive Landscape And Company Profiles

30.1. Custom Software Development Market Competitive Landscape
30.2. Custom Software Development Market Company Profiles
- 30.2.1. Accenture plc
  - 30.2.1.1. Overview
  - 30.2.1.2. Products and Services
  - 30.2.1.3. Strategy
  - 30.2.1.4. Financial Performance
- 30.2.2. Tata Consultancy Services Limited
  - 30.2.2.1. Overview
  - 30.2.2.2. Products and Services
  - 30.2.2.3. Strategy
  - 30.2.2.4. Financial Performance
- 30.2.3. Infosys Limited
  - 30.2.3.1. Overview
  - 30.2.3.2. Products and Services
  - 30.2.3.3. Strategy
  - 30.2.3.4. Financial Performance
- 30.2.4. Capgemini SE
  - 30.2.4.1. Overview
  - 30.2.4.2. Products and Services
  - 30.2.4.3. Strategy
  - 30.2.4.4. Financial Performance
- 30.2.5. HCL Technologies Limited
  - 30.2.5.1. Overview
  - 30.2.5.2. Products and Services
  - 30.2.5.3. Strategy
  - 30.2.5.4. Financial Performance

31. Custom Software Development Market Other Major And Innovative Companies

31.1. Tech Mahindra Limited
31.2. EPAM Systems Inc.
31.3. Wipro Limited
31.4. Persistent Systems Limited
31.5. Kalibroida Technology Solutions Inc.
31.6. N-iX LLC
31.7. Intetics Inc.
31.8. ScienceSoft USA Corporation
31.9. Hexacta S.A.
31.10. Chetu Inc.
31.11. Fingent Corporation
31.12. Svitla Systems Inc.
31.13. Iflexion Interactive Inc.
31.14. MentorMate LLC
31.15. Icreon Tech Inc.

32. Global Custom Software Development Market Competitive Benchmarking

33. Global Custom Software Development Market Competitive Dashboard

34. Key Mergers And Acquisitions In The Custom Software Development Market

35. Custom Software Development Market Future Outlook and Potential Analysis

35.1 Custom Software Development Market In 2028 - Countries Offering Most New Opportunities
35.2 Custom Software Development Market In 2028 - Segments Offering Most New Opportunities
35.3 Custom Software Development Market In 2028 - Growth Strategies
- 35.3.1 Market Trend Based Strategies
- 35.3.2 Competitor Strategies

36. Appendix

36.1. Abbreviations
36.2. Currencies
36.3. Historic And Forecast Inflation Rates
36.4. Research Inquiries
36.5. The Business Research Company
36.6. Copyright And Disclaimer