Custom Application Development Service Market Size to Grow by USD 38.15 Billion from 2021-2026, Increasing Adoption of Cloud-based Services Offering Ease of Access, Flexibility, and Security to Boost the Market Growth

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NEW YORK, July 15, 2022 /PRNewswire/ — The Custom Application Development Service Market is segmented by Geography (North America, Europe, APAC, South America, and Middle East and Africa). 37% of the market’s growth will originate from North America during the forecast period. US and Canada are the key markets for custom application development services in North America. Market growth in this region will be faster than the growth of the market in South America, Europe, and MEA. The significant increase in the adoption of advanced technologies and the rise in the use of smartphones by consumers and enterprises to develop applications (including custom applications) will facilitate the custom application development service market growth in North America over the forecast period. Moreover, the custom application development service market value is set to grow by USD 38.15 billion, progressing at a CAGR of 8.5% from 2021 to 2026, as per the latest report by Technavio.

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Custom Application Development Service Market Deployment Outlook (Revenue, USD bn, 2021-2026)
  • On-premise – size and forecast 2021-2026
  • Cloud – size and forecast 2021-2026

The custom application development service market share growth by the on-premise will be significant during the forecast period. On-premise application development services refer to hardware and software that are handled on-premise by end-users. A major advantage offered by these services is that they offer clients full control over the functioning of the hardware and software, which will propel its adoption in the coming years (owing to the low risk of security breaches).

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Custom Application Development Service Market: Key Driver
  • One of the key factors driving the custom application development service market growth is the increasing adoption of cloud-based services as these services offer advantages such as ease of access, flexibility, and security. End-users need not pay the license cost as the application can be accessed through the cloud. By hosting the application on the cloud, end-users can significantly reduce the Operating costs, Server costs, Maintenance costs, and Physical storage costs. Companies across the world are partnering with vendors operating in the market to deploy cloud-based applications to manage their business lifecycles. For instance, SAP offers cloud application services that help customers adopt and run the latest SAP technology with reduced complexity and at low costs. Such factors will further drive the market growth in the forecast years.
Custom Application Development Service Market: Major Challenge
  • One of the key challenges to the global custom application development service market growth is the availability of open-source platforms. Such platforms are usually developed by and for a large community of software engineers. End-users across the world are actively using open-source platforms as they offer benefits such as free use, free support, and prevention of vendor lock-in. Some of the open-source platforms available in the market are Apache NetBeans, Apache Cordova, Eclipse IDE, and Bootstrap. These are free and open-source distributed version control systems designed to handle application development with speed and efficiency. Start-ups and SMEs are the primary users of open-source platforms because of their cost constraints. Open-source platforms can perform functions such as designing and developing applications. Thus, the increasing adoption of open-source platforms may hinder the growth of the market during the forecast period.

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Some of the Major Custom Application Development Service Companies:
  • Accenture Plc
  • Capgemini Service SAS
  • Chetu Inc.
  • Cognizant Technology Solutions Corp.
  • DXC Technology Co.
  • Fujitsu Ltd.
  • HCL Technologies Ltd.
  • Iblesoft Inc.
  • Infanion
  • Infosys Ltd.
  • International Business Machines Corp.
  • Larsen and Toubro Infotech Ltd.
  • Logica Infotech Services Pvt. Ltd.
  • Netguru S.A
  • NTT DATA Corp.
  • Software AG
  • Speridian Technologies
  • Tata Consultancy Services Ltd.
  • Trianz
  • Wipro Ltd.

The custom application development service market is fragmented, and the vendors are deploying growth strategies such as organic and inorganic strategies to compete in the market. Companies like – Accenture Plc offers custom application development services that help to drive disruption by applying Lean principles to achieve substantial performance improvements, accelerating business change. Moreover, In January 2021, the company acquired Real Protect, a privately held, Brazil-based provider of managed security and cyber defense services, extending its cybersecurity presence and capabilities in Latin America. 

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  • Research and Development Outsourcing Services Market by End-user and Geography – Forecast and Analysis 2022-2026: Based on Technavio’s market sizing methodology, the research and development outsourcing services market size is predicted to surge by USD 8.04 billion from 2021 to 2026 at a CAGR of 8.04%. the region witnessed a decline in the number of COVID-19 cases owing to the availability of vaccines, which led to the gradual resumption of manufacturing units by Q4 of 2020. As a result, operations of the automotive, semiconductor, aerospace, and telecommunication industries stabilized during 2021, which, in turn, is expected to drive the growth of the R&D outsourcing services market in the region during the forecast period. Find More Research Insights Here

Custom Application Development Service Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 8.5%

Market growth 2022-2026

$ 38.15 billion

Market structure

Fragmented

YoY growth (%)

7.51

Regional analysis

North America, Europe, APAC, South America, and Middle East and Africa

Performing market contribution

North America at 37%

Key consumer countries

US, Canada, China, India, and Germany

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Accenture Plc, Capgemini Service SAS, Chetu Inc., Cognizant Technology Solutions Corp., DXC Technology Co., Fujitsu Ltd., HCL Technologies Ltd., Iblesoft Inc., Infanion, Infosys Ltd., International Business Machines Corp., Larsen and Toubro Infotech Ltd., Logica Infotech Services Pvt. Ltd., Netguru S.A, NTT DATA Corp., Software AG, Speridian Technologies, Tata Consultancy Services Ltd., Trianz, and Wipro Ltd.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,

Customization preview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of Contents

1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Deployment
    • Exhibit 06: Executive Summary – Chart on Incremental Growth
    • Exhibit 07: Executive Summary – Data Table on Incremental Growth
    • Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 09: Parent market
    • Exhibit 10: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 11: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 12: Market segments
  • 3.3 Market size 2021
  • 3.4 Market outlook: Forecast for 2021-2026
    • Exhibit 13: Chart on Global – Market size and forecast 2021-2026 ($ billion)
    • Exhibit 14: Data Table on Global – Market size and forecast 2021-2026 ($ billion)
    • Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
    • Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

4 Five Forces Analysis

  • 4.1 Five forces summary
    • Exhibit 17: Five forces analysis – Comparison between 2021 and 2026
  • 4.2 Bargaining power of buyers
    • Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
  • 4.3 Bargaining power of suppliers
    • Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
  • 4.4 Threat of new entrants
    • Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
  • 4.5 Threat of substitutes
    • Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
  • 4.6 Threat of rivalry
    • Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
  • 4.7 Market condition
    • Exhibit 23: Chart on Market condition – Five forces 2021 and 2026

5 Market Segmentation by Deployment

  • 5.1 Market segments
    • Exhibit 24: Chart on Deployment – Market share 2021-2026 (%)
    • Exhibit 25: Data Table on Deployment – Market share 2021-2026 (%)
  • 5.2 Comparison by Deployment
    • Exhibit 26: Chart on Comparison by Deployment
    • Exhibit 27: Data Table on Comparison by Deployment
  • 5.3 On-premise – Market size and forecast 2021-2026
    • Exhibit 28: Chart on On-premise – Market size and forecast 2021-2026 ($ billion)
    • Exhibit 29: Data Table on On-premise – Market size and forecast 2021-2026 ($ billion)
    • Exhibit 30: Chart on On-premise – Year-over-year growth 2021-2026 (%)
    • Exhibit 31: Data Table on On-premise – Year-over-year growth 2021-2026 (%)
  • 5.4 Cloud – Market size and forecast 2021-2026
    • Exhibit 32: Chart on Cloud – Market size and forecast 2021-2026 ($ billion)
    • Exhibit 33: Data Table on Cloud – Market size and forecast 2021-2026 ($ billion)
    • Exhibit 34: Chart on Cloud – Year-over-year growth 2021-2026 (%)
    • Exhibit 35: Data Table on Cloud – Year-over-year growth 2021-2026 (%)
  • 5.5 Market opportunity by Deployment
    • Exhibit 36: Market opportunity by Deployment ($ billion)

6 Customer Landscape

  • 6.1 Customer landscape overview
    • Exhibit 37: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

7 Geographic Landscape

  • 7.1 Geographic segmentation
    • Exhibit 38: Chart on Market share by geography 2021-2026 (%)
    • Exhibit 39: Data Table on Market share by geography 2021-2026 (%)
  • 7.2 Geographic comparison
    • Exhibit 40: Chart on Geographic comparison
    • Exhibit 41: Data Table on Geographic comparison
  • 7.3 North America – Market size and forecast 2021-2026
    • Exhibit 42: Chart on North America – Market size and forecast 2021-2026 ($ billion)
    • Exhibit 43: Data Table on North America – Market size and forecast 2021-2026 ($ billion)
    • Exhibit 44: Chart on North America – Year-over-year growth 2021-2026 (%)
    • Exhibit 45: Data Table on North America – Year-over-year growth 2021-2026 (%)
  • 7.4 Europe – Market size and forecast 2021-2026
    • Exhibit 46: Chart on Europe – Market size and forecast 2021-2026 ($ billion)
    • Exhibit 47: Data Table on Europe – Market size and forecast 2021-2026 ($ billion)
    • Exhibit 48: Chart on Europe – Year-over-year growth 2021-2026 (%)
    • Exhibit 49: Data Table on Europe – Year-over-year growth 2021-2026 (%)
  • 7.5 APAC – Market size and forecast 2021-2026
    • Exhibit 50: Chart on APAC – Market size and forecast 2021-2026 ($ billion)
    • Exhibit 51: Data Table on APAC – Market size and forecast 2021-2026 ($ billion)
    • Exhibit 52: Chart on APAC – Year-over-year growth 2021-2026 (%)
    • Exhibit 53: Data Table on APAC – Year-over-year growth 2021-2026 (%)
  • 7.6 South America – Market size and forecast 2021-2026
    • Exhibit 54: Chart on South America – Market size and forecast 2021-2026 ($ billion)
    • Exhibit 55: Data Table on South America – Market size and forecast 2021-2026 ($ billion)
    • Exhibit 56: Chart on South America – Year-over-year growth 2021-2026 (%)
    • Exhibit 57: Data Table on South America – Year-over-year growth 2021-2026 (%)
  • 7.7 Middle East and Africa – Market size and forecast 2021-2026
    • Exhibit 58: Chart on Middle East and Africa – Market size and forecast 2021-2026 ($ billion)
    • Exhibit 59: Data Table on Middle East and Africa – Market size and forecast 2021-2026 ($ billion)
    • Exhibit 60: Chart on Middle East and Africa – Year-over-year growth 2021-2026 (%)
    • Exhibit 61: Data Table on Middle East and Africa – Year-over-year growth 2021-2026 (%)
  • 7.8 US – Market size and forecast 2021-2026
    • Exhibit 62: Chart on US – Market size and forecast 2021-2026 ($ billion)
    • Exhibit 63: Data Table on US – Market size and forecast 2021-2026 ($ billion)
    • Exhibit 64: Chart on US – Year-over-year growth 2021-2026 (%)
    • Exhibit 65: Data Table on US – Year-over-year growth 2021-2026 (%)
  • 7.9 China – Market size and forecast 2021-2026
    • Exhibit 66: Chart on China – Market size and forecast 2021-2026 ($ billion)
    • Exhibit 67: Data Table on China – Market size and forecast 2021-2026 ($ billion)
    • Exhibit 68: Chart on China – Year-over-year growth 2021-2026 (%)
    • Exhibit 69: Data Table on China – Year-over-year growth 2021-2026 (%)
  • 7.10 Germany – Market size and forecast 2021-2026
    • Exhibit 70: Chart on Germany – Market size and forecast 2021-2026 ($ billion)
    • Exhibit 71: Data Table on Germany – Market size and forecast 2021-2026 ($ billion)
    • Exhibit 72: Chart on Germany – Year-over-year growth 2021-2026 (%)
    • Exhibit 73: Data Table on Germany – Year-over-year growth 2021-2026 (%)
  • 7.11 Canada – Market size and forecast 2021-2026
    • Exhibit 74: Chart on Canada – Market size and forecast 2021-2026 ($ billion)
    • Exhibit 75: Data Table on Canada – Market size and forecast 2021-2026 ($ billion)
    • Exhibit 76: Chart on Canada – Year-over-year growth 2021-2026 (%)
    • Exhibit 77: Data Table on Canada – Year-over-year growth 2021-2026 (%)
  • 7.12 India – Market size and forecast 2021-2026
    • Exhibit 78: Chart on India – Market size and forecast 2021-2026 ($ billion)
    • Exhibit 79: Data Table on India – Market size and forecast 2021-2026 ($ billion)
    • Exhibit 80: Chart on India – Year-over-year growth 2021-2026 (%)
    • Exhibit 81: Data Table on India – Year-over-year growth 2021-2026 (%)
  • 7.13 Market opportunity by geography
    • Exhibit 82: Market opportunity by geography ($ billion)

8 Drivers, Challenges, and Trends

  • 8.1 Market drivers
  • 8.2 Market challenges
  • 8.3 Impact of drivers and challenges
    • Exhibit 83: Impact of drivers and challenges in 2021 and 2026
  • 8.4 Market trends

9 Vendor Landscape

  • 9.1 Overview
  • 9.2 Vendor landscape
    • Exhibit 84: Overview on Criticality of inputs and Factors of differentiation
  • 9.3 Landscape disruption
    • Exhibit 85: Overview on factors of disruption
  • 9.4 Industry risks
    • Exhibit 86: Impact of key risks on business

10 Vendor Analysis

  • 10.1 Vendors covered
    • Exhibit 87: Vendors covered
  • 10.2 Market positioning of vendors
    • Exhibit 88: Matrix on vendor position and classification
  • 10.3 Accenture Plc
    • Exhibit 89: Accenture Plc – Overview
    • Exhibit 90: Accenture Plc – Business segments
    • Exhibit 91: Accenture Plc – Key news
    • Exhibit 92: Accenture Plc – Key offerings
    • Exhibit 93: Accenture Plc – Segment focus
  • 10.4 Capgemini Service SAS
    • Exhibit 94: Capgemini Service SAS – Overview
    • Exhibit 95: Capgemini Service SAS – Business segments
    • Exhibit 96: Capgemini Service SAS – Key news
    • Exhibit 97: Capgemini Service SAS – Key offerings
    • Exhibit 98: Capgemini Service SAS – Segment focus
  • 10.5 Cognizant Technology Solutions Corp.
    • Exhibit 99: Cognizant Technology Solutions Corp. – Overview
    • Exhibit 100: Cognizant Technology Solutions Corp. – Business segments
    • Exhibit 101: Cognizant Technology Solutions Corp. – Key news
    • Exhibit 102: Cognizant Technology Solutions Corp. – Key offerings
    • Exhibit 103: Cognizant Technology Solutions Corp. – Segment focus
  • 10.6 DXC Technology Co.
    • Exhibit 104: DXC Technology Co. – Overview
    • Exhibit 105: DXC Technology Co. – Business segments
    • Exhibit 106: DXC Technology Co. – Key news
    • Exhibit 107: DXC Technology Co. – Key offerings
    • Exhibit 108: DXC Technology Co. – Segment focus
  • 10.7 HCL Technologies Ltd.
    • Exhibit 109: HCL Technologies Ltd. – Overview
    • Exhibit 110: HCL Technologies Ltd. – Business segments
    • Exhibit 111: HCL Technologies Ltd. – Key news
    • Exhibit 112: HCL Technologies Ltd. – Key offerings
    • Exhibit 113: HCL Technologies Ltd. – Segment focus
  • 10.8 Iblesoft Inc.
    • Exhibit 114: Iblesoft Inc. – Overview
    • Exhibit 115: Iblesoft Inc. – Product / Service
    • Exhibit 116: Iblesoft Inc. – Key offerings
  • 10.9 Infanion
    • Exhibit 117: Infanion – Overview
    • Exhibit 118: Infanion – Product / Service
    • Exhibit 119: Infanion – Key offerings
  • 10.10 Infosys Ltd.
    • Exhibit 120: Infosys Ltd. – Overview
    • Exhibit 121: Infosys Ltd. – Business segments
    • Exhibit 122: Infosys Ltd. – Key news
    • Exhibit 123: Infosys Ltd. – Key offerings
    • Exhibit 124: Infosys Ltd. – Segment focus
  • 10.11 International Business Machines Corp.
    • Exhibit 125: International Business Machines Corp. – Overview
    • Exhibit 126: International Business Machines Corp. – Business segments
    • Exhibit 127: International Business Machines Corp. – Key offerings
    • Exhibit 128: International Business Machines Corp. – Segment focus
  • 10.12 Tata Consultancy Services Ltd.
    • Exhibit 129: Tata Consultancy Services Ltd. – Overview
    • Exhibit 130: Tata Consultancy Services Ltd. – Business segments
    • Exhibit 131: Tata Consultancy Services Ltd. – Key news
    • Exhibit 132: Tata Consultancy Services Ltd. – Key offerings
    • Exhibit 133: Tata Consultancy Services Ltd. – Segment focus

11 Appendix

  • 11.1 Scope of the report
  • 11.2 Inclusions and exclusions checklist
    • Exhibit 134: Inclusions checklist
    • Exhibit 135: Exclusions checklist
  • 11.3 Currency conversion rates for US$
    • Exhibit 136: Currency conversion rates for US$
  • 11.4 Research methodology
    • Exhibit 137: Research methodology
    • Exhibit 138: Validation techniques employed for market sizing
    • Exhibit 139: Information sources
  • 11.5 List of abbreviations
    • Exhibit 140: List of abbreviations
  • Engineering and Research and Development Services
About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

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SOURCE Technavio

Custom Application Development Service Market Size to Grow by USD 38.15 Billion from 2021-2026, Increasing Adoption of Cloud-based Services Offering Ease of Access, Flexibility, and Security to Boost the Market Growth WeeklyReviewer

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