Custom Software Development Market To Reach $146.18 Billion By 2030

May 2024 | Report Format: Electronic (PDF)

Custom Software Development Market Growth & Trends

The global custom software development market size is estimated to reach USD 146.18 billion by 2030, growing at a CAGR of 22.5% from 2024 to 2030, according to a recent report from Grand View Research, Inc. Custom software development is the solution for businesses aiming to enhance their operations and maintain competitiveness in the digital environment. This process involves creating, implementing, and utilizing software solutions tailored to meet specific business requirements, effectively addressing individual needs. In this rapidly evolving digital landscape, businesses are striving to outpace competitors through technology-driven enhancements in their operations and customer service. Custom software development is pivotal in this endeavor, as it provides tailored solutions to address diverse business needs, thereby contributing significantly to staying competitive.

Custom software solutions are designed to address specific business needs and provide a competitive advantage by automating and streamlining various processes, improving overall efficiency, reducing errors, and enhancing customer satisfaction. Custom software development allows businesses the flexibility to make changes to their software solutions as per their evolving business needs. For instance, in January 2024, Brainvire Infotech Inc. announced a collaboration with Sing In Chinese to develop a captivating and interactive app for children.

The costs associated with developing custom software are high for businesses. Custom software development incurs higher expenses than packaged software due to various factors. Some of them include proficient data management and robust security measures, tailored development aligned with the specific business models or processes, seamless integration of essential tools and cutting-edge technologies into a unified system, and prompt resolution of significant issues while prioritizing the needs of core end users. In addition, maintenance and support costs further contribute to the cost of custom software.

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Custom Software Development Market Report Highlights

  • The enterprise software segment is expected to register a CAGR of 23.6% from 2024 to 2030. The increasing demand for automation and cost efficiency are driving the growth of the market.

  • The cloud segment is expected to register a CAGR of 23.7% from 2024 to 2030. Businesses are increasingly embracing digital transformation. As a result, there exists a strong demand for tailored software solutions that can seamlessly integrate with cloud infrastructure, offer scalability and flexibility, and are cost-efficient.

  • The SME segment is expected to register a CAGR of 24.1% from 2024 to 2030. SMEs are increasingly realizing the need to digitalize their processes to remain competitive in today's market landscape, which is driving an increasing demand for custom software development solutions.

  • The government segment is expected to register a CAGR of 25.9% from 2024 to 2030. Custom software solutions tailored to the unique needs of government agencies are becoming indispensable tools for modernizing legacy systems, automating processes, and fostering transparency and accountability. Moreover, the growing emphasis on data-driven decision-making and digital governance initiatives further fuels demand for software applications capable of handling large volumes of sensitive information securely.

  • Asia Pacific is anticipated to emerge as the fastest-growing region globally over the forecast period at a CAGR of 25.2% from 2024 to 2030. The region's growth can be attributed to the increasing expansion activities of key companies aimed at gaining better traction in the market. For example, in June 2023, Endava PLC announced the acquisition of DEK Technologies Sweden AB, DEK Corporation Pty Ltd, and DEK Vietnam Company Ltd.

Custom Software Development Market Segmentation

Grand View Research has segmented the global custom software development market based on type, deployment mode, enterprise size, industry vertical, and region:

Custom Software Development Type Outlook (Revenue, USD Billion, 2018 - 2030)

  • Web-based Solutions

  • Mobile App

  • Enterprise Software

Custom Software Development Deployment Mode Outlook (Revenue, USD Billion, 2018 - 2030)

  • Cloud

  • On-premise

Custom Software Development Enterprise Size Outlook (Revenue, USD Billion, 2018 - 2030)

  • Large Enterprises

  • SMEs

Custom Software Development Industry Vertical Outlook (Revenue, USD Billion, 2018 - 2030)

  • BFSI

  • Government

  • Healthcare

  • IT & Telecom

  • Manufacturing

  • Retail

  • Others

Custom Software Development Regional Outlook (Revenue, USD Billion, 2018 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

  • Asia Pacific

    • China

    • India

    • Japan

    • South Korea

    • Australia

  • Latin America

    • Brazil

  • Middle East & Africa

    • UAE

    • Saudi Arabia

    • South Africa

List of Key Companies in the Custom Software Development Market

  • Accenture

  • Brainvire Infotech Inc.

  • Capgemini

  • Cognizant

  • HCL Technologies Limited

  • Iflexion

  • Infopulse

  • Infosys Ltd.

  • Magora

  • Microsoft

  • Tata Consultancy Services Limited

  • Thoughtworks, Inc.

  • Tietoevry

  • Trigent Software, Inc.

  • TRooTech Business Solutions

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