Insights on the Software Consulting Global Market to 2027 – Lower Infrastructure and Storage Costs Result in a Higher ROI – GlobeNewswire

Dublin, April 15, 2022 (GLOBE NEWSWIRE) -- The "Global Software Consulting Market Size, Share & Industry Trends Analysis Report By Enterprise Size, By Vertical, By Application (Enterprise Solutions, Migration & Maintenance Services & Others), By Regional Outlook and Forecast, 2021-2027" report has been added to ResearchAndMarkets.com's offering.

The Global Software Consulting Market size is expected to reach $458.5 billion by 2027, rising at a market growth of 12.1% CAGR during the forecast period.

Software consulting is the practice of advising on the best software solutions for a company's business strategy. Different software solutions are being sought by businesses in order to align their technology investments. A software consultant is employed as a contractor for a certain amount of time in the software consulting process. Software consulting firms assist businesses in optimizing, designing, processing, architecting, and implementing software. Furthermore, these services assist businesses in making decisions about software technology and their software adoption investment plan. It also enables businesses to have a clear strategy for technology advancement and to come up with innovative ways to streamline corporate procedures.

Technical skills for improving and maintaining software, onsite management services, support & testing services, and system designing and planning services are all provided by software consulting organizations. Software consulting is the process of finding a software solution to optimize a company's operations while saving time.

Software consultants are familiar with the business domain and model. They advise businesses on software solutions that are vital for their technical progress and can add value to their organization through new solutions, enhanced IT architecture, or better integration between current solutions based on this knowledge. For technology updates, businesses are turning to third-party service providers. The service providers examine a company's software's technical advancements.

Many businesses rely on software consulting services to stay afloat in today's fast-paced technology environment. The market is likely to be driven by increasing digitization in corporate operations. Offshoring and globalization are also likely to boost consulting services demand. Enterprises are projected to adopt new technologies like cloud computing and mobile computing, resulting in an increase in the need for consulting services. The expansion in the number of small and medium businesses, as well as the need for more advanced software solutions, is likely to open up new market prospects for building successful software consulting business models.

COVID-19 Impact Analysis

The market is rising because to a growing demand for digitization of business processes throughout sectors and verticals, particularly for the smooth integration of software into an enterprise's IT system. However, as a result of the Covid-19 epidemic and the global economic slump, various sectors are experiencing substantial consequences and problems across crucial operations.

While the industry has grown significantly in recent years as a result of digitization and technological penetration, the pandemic has forced numerous nations to the brink of recession. As a result, a large number of consulting customers are deferring projects, lowering project scope to save money, or cancelling them entirely. Multiple client projects that were cancelled have had a negative impact on vendor revenues and have hampered market growth in the short term.

Market Growth Factors:

Lower infrastructure and storage costs result in a higher return on investment

Businesses are apprehensive about the expenses of data hosting on-premises, both in terms of deployment and maintenance. Furthermore, employee costs and challenges with downtime are two additional worries for businesses. The current competitive environment and global economic conditions have hastened the use of cost-effective business model restructuring strategies. Another reason driving the use of cloud computing services is the rising movement of businesses toward digital transformation and the acceleration of customer experience, both of which are lowering corporate expenses. Furthermore, the cloud provides the pay-as-you-go approach, which allows businesses to pay for cloud services based on how often they use them, resulting in lower prices.

While some IT positions were affected during the epidemic, most IT employees have found it relatively simple to obtain new jobs because to the current skills need. Because IT leaders are aware of the scarcity of talent, they are deliberating carefully before cutting roles. Their organisations, on the other hand, require the correct combination of abilities at any given time, which is a shifting objective.

Hybrid cloud services are becoming more popular

Enterprises with current infrastructure are migrating toward cloud computing services and are prepared to use a hybrid strategy in order to gain the benefits of both on-premises and cloud services. Furthermore, SMEs are significantly considering cloud computing services which is leading to significant benefits such as no upfront infrastructure expenses and compute resources that are available on demand. These variables are influencing the adoption of hybrid cloud services by businesses. Furthermore, the hybrid cloud provides improved workload management, higher security and compliance, and seamless interaction within DevOps teams.

Businesses are turning to the hybrid cloud approach to solve problems that are tough to solve with legacy systems. Hybrid cloud bridges the gap between IT and companies by increasing agility and efficiency while also delivering IT resources quickly and at a reasonable cost. It allows businesses to scale up or down existing applications and infrastructure as needed, while also providing users with high-speed performance and high dependability.

Market Restraining Factors

A growing array of multi-sourcing strategies are being used

Rather than taking a one-size-fits-all strategy, an increasing number of companies are splitting down big consulting contracts into smaller parts and enlisting the help of many vendors to complete tasks. Because consulting companies do not always have competence in every practise area, healthcare organisations are gradually embracing the multi-sourcing approach.

Healthcare providers, payers, and government agencies are all pushing for numerous consulting companies to work together on projects. Multi-sourcing, on the other hand, may have its own set of challenges and issues since it necessitates effective and reliable service integration amongst vendors. This might have a detrimental influence on consultancy businesses' profitability.

Key Topics Covered:

Chapter 1. Market Scope & Methodology

Chapter 2. Market Overview2.1 Introduction2.1.1 Overview2.1.1.1 Market Composition and Scenario2.2 Key Factors Impacting the Market2.2.1 Market Drivers2.2.2 Market Restraints

Chapter 3. Competition Analysis - Global3.1 KBV Cardinal Matrix3.2 Recent Industry Wide Strategic Developments3.2.1 Partnerships, Collaborations and Agreements3.2.2 Product Launches and Product Expansions3.2.3 Acquisition and Mergers3.3 Top Winning Strategies3.3.1 Key Leading Strategies: Percentage Distribution (2017-2021)3.3.2 Key Strategic Move: (Acquisitions and Mergers: 2017, Sep - 2022, Jan) Leading Players

Chapter 4. Global Software Consulting Market by Enterprise Size4.1 Global Large Enterprises Market by Region4.2 Global Small & Medium Enterprises (SMEs) Market by Region

Chapter 5. Global Software Consulting Market by Vertical5.1 Global BFSI Market by Region5.2 Global IT & Telecom Market by Region5.3 Global Manufacturing Market by Region5.4 Global Government Market by Region5.5 Global Retail Market by Region5.6 Global Healthcare Market by Region5.7 Global Automotive Market by Region5.8 Global Others Market by Region

Chapter 6. Global Software Consulting Market by Application6.1 Global Enterprise Solutions Market by Region6.2 Global Migration & Maintenance Services Market by Region6.3 Global Software Security Services Market by Region6.4 Global Design Services Market by Region6.5 Global Application Development Market by Region6.6 Global Application Testing Services Market by Region6.7 Global Others Market by Region

Chapter 7. Global Software Consulting Market by Region

Chapter 8. Company Profiles8.1 Ernst & Young Global Limited8.1.1 Company Overview8.2 Accenture PLC8.2.1 Company Overview8.2.2 Financial Analysis8.2.3 Segmental and Regional Analysis8.2.4 Research & Development Expenses8.2.5 Recent strategies and developments:8.2.5.1 Partnerships, Collaborations, and Agreements:8.2.5.2 Acquisition and Mergers8.2.5.3 Product Launches and Product Expansions:8.2.6 SWOT Analysis8.3 Cognizant Technology Solutions Corporation8.3.1 Company overview8.3.2 Financial Analysis8.3.3 Segmental and Regional Analysis8.3.4 Recent strategies and developments:8.3.4.1 Acquisition and Mergers8.3.5 SWOT Analysis8.4 Deloitte Touche Tohmatsu Limited8.4.1 Company Overview8.4.2 Financial Analysis8.4.3 Segmental Analysis8.5 IBM Corporation8.5.1 Company Overview8.5.2 Financial Analysis8.5.3 Regional & Segmental Analysis8.5.4 Research & Development Expenses8.5.5 Recent strategies and developments:8.5.6 SWOT Analysis8.6 Atos Group8.6.1 Company Overview8.6.2 Financial Analysis8.6.3 Segmental and Regional Analysis8.6.4 Recent strategies and developments:8.6.4.1 Acquisition and Mergers8.6.4.2 Product Launches and Product Expansions:8.6.5 SWOT Analysis8.7 Capgemini SE8.7.1 Company Overview8.7.2 Financial Analysis8.7.3 Regional Analysis8.7.4 Recent strategies and developments:8.8 Oracle Corporation8.8.1 Company Overview8.8.2 Financial Analysis8.8.3 Segmental and Regional Analysis8.8.4 Research & Development Expense8.8.5 Recent Strategies and Developments8.8.5.1 Partnerships, Collaborations, and Agreements:8.8.5.2 Acquisitions and Mergers:8.8.6 SWOT Analysis8.9 SAP SE8.9.1 Company Overview8.9.2 Financial Analysis8.9.3 Segmental and Regional Analysis8.9.4 Research & Development Expense8.9.5 Recent strategies and developments:8.9.5.1 Product Launches and Product Expansions:8.9.6 SWOT Analysis8.10. CGI, Inc.8.10.1 Company Overview8.10.2 Financial Analysis8.10.3 Regional Analysis8.10.4 Recent strategies and developments:

For more information about this report visit https://www.researchandmarkets.com/r/a7t2dw

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Insights on the Software Consulting Global Market to 2027 - Lower Infrastructure and Storage Costs Result in a Higher ROI - GlobeNewswire