[July 30, 2020]

COVID-19 Impacts: Custom Application Development Service Market Will Accelerate at a CAGR of over 7% through 2020-2024|Rising Adoption of Cloud-Based Services to Boost Growth| Technavio

Technavio has been monitoring the custom application development service market and it is poised to grow by USD 26.74 billion during 2020-2024, progressing at a CAGR of over 7% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200730005805/en/

Technavio has announced its latest market research report titled Global Custom Application Development Service Market 2020-2024 (Graphic: Business Wire)

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Please Request Free Sample Report on COVID-19 Impact

Frequently Asked Questions-

• What was the value of the custom application development service market in 2019?

• Technavio says that the value of the market was at USD 61.90 billion in 2019 and it is projected to reach USD 88.64 billion by 2024.

• At what rate is the market projected to grow in the forecast period 2020-2024?

• Growing at a CAGR of over 7%, the market growth will accelerate in the forecast period.

• What is the key factor driving the market?

• Rising adoption of cloud-based services is one of the key factors driving the market growth.

• Who are the top players in the market?

• Accenture Plc, Bourntec Solutions Inc., Capgemini SE, Cognizant Technology Solutions Corp., HCL Technologies (News - Alert) Ltd., HP Inc., Iblesoft Inc., Infosys Ltd., International Business Machines Corp., and Tata Consultancy Services Ltd. are some of the major market participants.

• Which region is expected to hold the highest market share?

• North America

• What is a major trend in the market?

• The growing adoption of analytics in enterprise applications is a major trend driving the market growth factor.

The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Accenture (News - Alert) Plc, Bourntec Solutions Inc., Capgemini SE, Cognizant Technology Solutions Corp., HCL Technologies Ltd., HP Inc., Iblesoft Inc., Infosys Ltd., International Business Machines Corp., and Tata Consultancy (News - Alert) Services Ltd. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The rising adoption of cloud-based services has been instrumental in driving the growth of the market.

Custom Application Development Service Market 2020-2024: Segmentation

Custom Application Development Service Market is segmented as below:

• Deployment
  • Cloud
  • On-premise /li>
• Geographic Landscape
  • North America
  • APAC
  • Europe
  • South America
  • MEA

Custom Application Development Service Market 2020-2024: Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our custom application development service market report covers the following areas:

• Custom Application Development Service Market size
• Custom Application Development Service Market trends
• Custom Application Development Service Market analysis

This study identifies the growing adoption of analytics in enterprise applications as one of the prime reasons driving the custom application development service market growth during the next few years.

Custom Application Development Service Market 2020-2024: Vendor Analysis

We provide a detailed analysis of vendors operating in the custom application development service market, including some of the vendors such as Accenture Plc, Bourntec Solutions Inc., Capgemini SE, Cognizant (News - Alert) Technology Solutions Corp., HCL Technologies Ltd., HP Inc., Iblesoft Inc., Infosys Ltd., International Business Machines Corp., and Tata Consultancy Services Ltd. Backed with competitive intelligence and benchmarking, our research reports on the custom application development service market are designed to provide entry support, customer profile and M&As as well as go-to-market strategy support.

Register for a free trial today and gain instant access to 17,000+ market research reports. Technavio's SUBSCRIPTION platform

Custom Application Development Service Market 2020-2024: Key Highlights

• CAGR of the market during the forecast period 2020-2024
• Detailed information on factors that will assist custom application development service market growth during the next five years
• Estimation of the custom application development service market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the custom application development service market
• 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 service market vendors

Table of Contents:

Executive Summary

• Market Overview

Market Landscape

• Market ecosystem
• Value chain analysis

Market Sizing

• Market definition
• Market segment analysis
• Market size 2019
• Market outlook: Forecast for 2019 - 2024

Five Forces Analysis

• Five Forces Summary
• Bargaining power of buyers
• Bargaining power of suppliers
• Threat of new entrants
• Threat of substitutes
• Threat of rivalry
• Market condition

Market Segmentation by Deployment

• Market segments
• Comparison by Deployment placement
• On-premise - Market size and forecast 2019-2024
• Cloud - Market size and forecast 2019-2024
• Market opportunity by Deployment

Customer Landscape

• Overview

Geographic Landscape

• Geographic segmentation
• Geographic comparison
• North America - Market size and forecast 2019-2024
• Europe - Market size and forecast 2019-2024
• APAC - Market size and forecast 2019-2024
• South America - Market size and forecast 2019-2024
• MEA - Market size and forecast 2019-2024
• Key leading countries
• Market opportunity by geography

Drivers, Challenges, and Trends

• Market drivers
• Volume driver - Demand led growth
• Volume driver - Supply led growth
• Volume driver - External factors
• Volume driver - Demand shift in adjacent markets
• Price driver - Inflation
• Price driver - Shift from lower to higher-priced units
• Market challenges
• Market trends

Vendor Landscape

• Overview
• Vendor landscape
• Landscape disruption

Vendor Analysis

• Vendors covered
• Market positioning of vendors
• Accenture Plc
• Bourntec Solutions, Inc.
• Capgemini SE
• Cognizant Technology Solutions (News - Alert) Corp.
• HCL Technologies Ltd.
• HP Inc.
• Iblesoft Inc.
• Infosys Ltd.
• International Business Machines Corp.
• Tata Consultancy Services Ltd.

Appendix

• Scope of the report
• Currency conversion rates for US$
• Research methodology
• List of abbreviations

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

View source version on businesswire.com: https://www.businesswire.com/news/home/20200730005805/en/

[ Back To TMCnet.com's Homepage ]