The Europe Software Consulting Market would witness market growth of 11.6% CAGR during the forecast period (2021-2027).
The growing demand for various software services in the information technology (IT) sector is expected to fuel the growth of the global software consulting market, as it provides a combination of technology in organizational processes that helps organizations stay afloat in a rapidly changing technological environment. The expansion of the target market is projected to be aided by the rising importance of various software programmes that help to increase the agility of corporate processes. The worldwide market's revenue growth is predicted to be boosted by the increasing usage of software consulting services across organizations with traditional business models to augment existing business plans with emerging possible business strategies.
Management consulting has increased in significance during the Great Recession of 2008-2010, and has become one of Europe's largest economic sectors. The area is home to a large number of multinational firms and five of the top ten nations in the world, with the largest number of Fortune 500 headquarters, indicating excellent development prospects for the consulting industry as a whole. In the previous five years, management consulting growth in Europe has been about twice as rapid as GDP growth, demonstrating a substantial adoption of the management consulting sector in the area.
The European consulting market is expanding at a healthy rate, with management consulting services in Eastern Europe seeing increasing uptake. In the previous five years, lesser-known European nations including Romania, Bulgaria, Ukraine, and Poland have experienced rapid development. In comparison to Western countries, the market in most of these countries has roughly doubled.
The Germany market dominated the Europe Software Consulting Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $30.5 billion by 2027. The UK market is poised to grow at a CAGR of 10.7% during (2021 - 2027). Additionally, The France market would display a CAGR of 12.5% 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 Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Software Consulting Market Size will Hit $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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