North America Custom Software Development Market Size, Share & Industry Trends Analysis Report By Solution, By End User, By Enterprise Size (Large Enterprises and Small & Medium Enterprises), By Deployment (Cloud and On-premise), By Country and Growth Forecast, 2022 - 2028
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Market Report Description
The North America Custom Software Development Market would witness market growth of 19.6% CAGR during the forecast period (2022-2028).
Custom software development companies create and plan solutions to fit the needs of specific endeavors, which present a significant market opportunity. The most vital reason for companies to invest in custom software is to create a solution that explicitly solves the companies' specific demands. Businesses frequently select a ready-made software alternative only to find out later that there are better fits for them.
Most of the commercial off-the-shelf (COTS) software does not have the features that would increase productivity and expand a company's customer base. Since every company is different, it might be challenging to locate software that matches them. In such instances, working with customized items provides room for expansion and demonstrates the commitment to the business's success.
Nowadays, technology is driven by many factors, which together give rise to various new solutions. The advancements in artificial intelligence and its adaptive use across multiple industries to blockchain technology that have opened new ways of financial transactions have pushed the adoption of custom software development trends. Cross-departmental collaboration, the detection of market trends, and the automation of procedures are all made possible by using analytical tools to develop custom software.
The presence of Silicon Valley in America is responsible for the high adoption and implementation of new technologies across the whole North American region. Consequently, the region has the highest density of software developers, with the US accounting for the largest share. Still, these numbers are said to increase in the coming years. In regards to custom software development, the higher density of developers in the region guarantees cost efficiency for software development. As a result, even emerging companies can opt for and implement custom software.
The US market dominated the North America Custom Software Development Market by Country 2021; thereby, achieving a market value of $21.7 billion by 2028. The Canada market is experiencing a CAGR of 22.4% during (2022 - 2028). Additionally, The Mexico market would exhibit a CAGR of 21.3% 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 U.S., Mexico, Canada, and Rest of North America.
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.
Scope of the Study
Market Segments Covered in the Report:
- Enterprise Software
- Web-based Solutions
- Mobile App
By End User
- Government & Defense
- Telecom & IT
By Enterprise Size
- Large Enterprises
- Small & Medium Enterprises
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- Tata Consultancy Services Ltd.
- Infosys Limited
- Capgemini SE
- Infopulse Ukraine LLC (Tietoevry Corporation)
- Magora Systems
- MentorMate, Inc. (Taylor Corporation)
- Trigent Software Inc.
- TRooTech Business Solutions Pvt. Ltd
- Brainvire Infotech, Inc.
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