The global software consulting market is expected to witness significant growth over the forecast period. The market is poised for growth owing to increased consolidation among companies that require assistance in integrating accounting, information storage and other systems. Favorable regulations and minimal startup costs are also expected to favorably impact the global software consulting market growth. Furthermore, off-shoring and globalization are also expected to fuel market demand over the forecast period.
Software consulting includes disseminating information, providing technical expertise, writing, modifying, testing & supporting software, on-site management & IT functions and planning & system design. Technological development and advancements in cloud computing, offer opportunities for the global software consulting market.
However, lack of technical expertise and the inability to meet client requirements are expected to hinder market growth over the next few years. Developing a client network that provides a regular work-flow poses to be a challenge to the market. Additionally, several government standards, and regulations in different regions along with the evolving nature of technology may also hamper market growth over the forecast period. Cultural conflicts, business transition and integration issues are also expected to negatively impact the software consulting market growth.
The market is highly consolidated with a few key players dominating the market. Key industry participants include Wirpo Technologies, Touche Tohmatsu, Tata Consultancy Services, Oracle, McKinley Consulting, Mahindra Satyam, KPMG, Indra, IBM, HP, Getronics, Ernst & Young, Deloitte, Dell, CGI Group, Capgemini, Atos Origin, Unisys and Accenture. Key industry participants help organizations by providing advice and implementing processes that enable numerous systems to function collectively.
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