The Asia Pacific Software Consulting Market would witness market growth of 12.6% CAGR during the forecast period (2021-2027).
The increased interest of enterprises in agility, workload optimizations, and business applications hosted on a cloud computing environment may be ascribed to the growing acceptance and implementation of cloud technologies. Cloud computing's high degree of scalability and flexibility, as well as its cost benefits, are influencing transitions to cloud platforms, resulting in market growth. In 2020, the big enterprise sector held the greatest market share. Large corporations have a lot of data that has to be managed successfully both locally and globally. Regarding security monitoring and management of their company data, these companies are increasingly turning to software security services.
In the B2B sector, where the usage of technologies like Machine Learning (ML) and Artificial Intelligence (AI) is projected to boost automated and data-based decision-making throughout operations, the Software-as-a-Service (SaaS) model has been in high demand. The usage for consulting services in the big company market is predicted to increase as a result of these changes.
Around 50 countries account the Asia Pacific region, which spans East, South, and Southeast Asia – home to India, China, among other rapidly growing markets – and Oceania, which is best known for staging Australia and New Zealand, and moreover includes a other Pacific Island nations spread across the Melanesia, Micronesia, and Polynesia microregions. Because of the region's variety, consulting sectors differ greatly in terms of size, market structure, and maturity. In 2017, the region's gross domestic product (GDP) was $28.2 trillion, with China accounting for approximately 40% of it, making Asia Pacific greater than the United States, Germany, and the United Kingdom coupled in terms of economic production.
Due to an increase in software service providers and technological advances, the market in Asia Pacific is predicted to grow at the quickest rate. Another factor expected to boost expansion of the target market in the Asia Pacific area is changing technological trends, which ensures the use of software consulting services for advancements and to discover better solutions over old systems.
The China market dominated the Asia Pacific Software Consulting Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $38.8 billion by 2027. The Japan market is exhibiting a CAGR of 11.9% during (2021 - 2027). Additionally, The India market would experience a CAGR of 13.3% during (2021 - 2027).
Based on Enterprise Size, the market is segmented into Large Enterprises and Small & Medium Enterprises (SMEs). Based on Vertical, the market is segmented into BFSI, IT & Telecom, Manufacturing, Government, Retail, Healthcare, Automotive, and Others. Based on Application, the market is segmented into Enterprise Solutions, Migration & Maintenance Services, Software Security Services, Design Services, Application Development, Application Testing Services, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Software Consulting Market is Projected to reach USD 458.5 Billion by 2027, at a CAGR of 12.1%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Ernst & Young Global Limited, Accenture PLC, Cognizant Technology Solutions Corporation, Deloitte Touche Tohmatsu Limited, IBM Corporation, Atos Group, Capgemini SE, Oracle Corporation, SAP SE, and CGI, Inc.
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