The Europe Custom Software Development Market would witness market growth of 19.8% CAGR during the forecast period (2022-2028).
Machine learning algorithms, data analytics, Robots, chatbots, image and voice recognition software, and other applications use AI extensively. Blockchain technology is used in banking and finance for operations, data processing security, and safety. The use of blockchain is also every day in industries like healthcare, agriculture, insurance, trading, and logistics. Recent times are also seeing a surge in single-page applications (SPA). These allow faster and more dynamic interaction with websites without having to load pages from the server.
Cloud computing is one of the most critical factors that have expanded the use of custom software as these are the main technical foundation for developing this software. It is possible because of their excellent robustness and mobility, low costs of infrastructure, and reasonably close storage systems. In addition, the use of virtualized servers has grown significantly in recent years due to the growth of on-demand cloud-based services.
The adaptation of cloud computing in forms of software-as-a-service (SaaS), Platform-as-a-Service (PaaS), and Infrastructure-as-a-Service (IaaS) are extensively being used across digital platforms. The development of PaaS has even helped many companies in their digitalization goals by streamlining the creation of web applications. With this strategy, programmers were able to rent everything they required to create apps while depending on a cloud service for the infrastructure needed, operating systems, and tools.
In Europe, the software development industry is one of the fastest-growing sectors. About 11.6 million individuals work in the software sector. This equates to 5.3% of all jobs in the EU28. The industry generates the need for additional skilled professionals, like as lawyers, accountants, designers, consultants, and marketing specialists, in addition to coders and programmers. In addition, there is a specifically high demand for custom software development services in the eastern and northern parts of the region.
The Germany market dominated the Europe Custom Software Development Market by Country 2021; thereby, achieving a market value of $5.8 billion by 2028. The UK market is exhibiting a CAGR of 18.8% during (2022 - 2028). Additionally, The France market would experience a CAGR of 20.6% during (2022 - 2028).
Based on Solution, the market is segmented into Enterprise Software, Web-based Solutions and Mobile App. Based on End User, the market is segmented into BFSI, Manufacturing, Government & Defense, Telecom & IT, Retail, Healthcare and Others. Based on Enterprise Size, the market is segmented into Large Enterprises and Small & Medium Enterprises. Based on Deployment, the market is segmented into Cloud and On-premise. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Custom Software Development Market will Hit $85.9 Billion by 2028, at a CAGR of 20.3%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Tata Consultancy Services Ltd., Infosys Limited, Capgemini SE, Infopulse Ukraine LLC (Tietoevry Corporation), Magora Systems, Iflexion, MentorMate, Inc. (Taylor Corporation), Trigent Software Inc., TRooTech Business Solutions Pvt. Ltd and Brainvire Infotech, Inc.
By Solution
By End User
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By Country
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