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Application Development Market Research Report- Forecast till 2027

Global Application Development Market Research Report: By Component (Hardware), By Deployment (On Cloud), By End-Users (IT & Telecommunications) - Forecast Till 2027

ID: MRFR/ICT/3957-HCR | February 2021 | Region: Global | 100 pages

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Market Overview 


According to global application development market research report, it is estimated that the market will reach USD 9,336 Million by the year 2023. The market is growing at a CAGR of 21%. It is observed that the market obsessed by the rising demand for application development software for simplifying and fast up business operations with the growing use of cloud-based solutions and IoT technology due to digitalization. Furthermore increasing request for the platform as a service and software as a service for improving the competence of enterprises, and businesses around the world due to growing digitalization.


Similarly, the rise in the request for an innovative technological app for solving business problems and improving work competence due to digitalization is motivating the global market. Further, the IOS segment is also growing at a quicker pace due to the rising launch of IOS-based applications around the globe. The benefit of cost reduction due to operational streamlining is the major factor that will trigger the market growth of the global Application Development Software Market business.


Corporations such as International Business Machines Corporation (U.S.), Salesforce.com, Inc. (U.S.), Microsoft Corp. (U.S.), Oracle Corp. (U.S.), SAP SE (Germany), HPE (U.S.), Alphabet Inc. (U.S.), are the prominent suppliers of application development solution in the global market. The rising demand for cloud computing and the internet of stuff is one of the key drivers of the application development market growth. The establishments can easily access apps and their data using the cloud.


The increasing possibility of service-oriented architecture is enhancing the application development market growth to a huge range. Service-oriented planning is broadly used among organizations. It is involved in web-based applications in which the consumer can work on numerous operation boards. The evolving technologies such as artificial intelligence also increase market growth.


Covid 19 Analysis 


Due to the quick outbreak of the COVID-19 virus, many industrial units and technical units are running narrow operations or stopped production and temporarily locked their units. However, the use of online services has improved noticeably as people locked down at their families. It gives rise to the necessity of adapted software solutions for online vendors and e-stores, gaming & entertainment, and monetary, banking, and payment amenities.


This pandemic is expected to help rise in enlargement and acceptance rate of custom application solutions to control organization, business, or amenity. Businesses are looking for constructing new software solutions that will support them to collaborate remotely, enhance efficiency with less staff, and digitalize their assistances. As speed becomes vital in these uneasy times, businesses are embracing software development subcontracting partners that can support them to figure quality software rapidly and at a minor cost.


Market Dynamics 



  • Drivers


According to application development market analysis,North American region is gaining the maximum market growth due to the accumulative demand for cloud-based applications development, which is driving the application development market growth. The main drivers that encourage the market for application development are the raised claim of different augmented reality and virtual Reality. There is no argument that in spite of the COVID 19, the present trends and upcoming opportunities of the market will see remarkable growth opportunities.



  • Opportunities


The increasing possibility of service-oriented architecture is improving the global application development market growth to a great extent. Service-oriented architecture is broadly used among organizations. Also, along with this, organizations have raised stronger to combine virtualized environments, conquered and indications to improved investments in app development expenses. The increasing requirement on global IT infrastructure support of different industries around the globe has gathered the need for an innovative application for easy solutions. The Application development market trends has come up as a pretty convincing easy solution to meet the different organizational necessities, leading different computer possessions to work on it. All these exceptional features grant the market’s growth majorly over the forecast period.



  • Restraints 


The occurrence of COVID-19 has hard severely collided out the growing leap of the industry because of compulsory closings of consumer markets and industrial unit across the globe, the profit portion of the companies has fallen apart. COVID19 has interrupted the whole supply chain. Continuous lockdown generated a negative impact and affected the assurance of the makers. The main retailers, such as the pharmacological industry, food stores & hypermarkets, fabrics, have gone through acute absence despite having requests in certain areas across the globe.



  • Challenges 


The companies are planning and executing fresh business operations through innovation. Many factors affect the development of this segment, such as market size, trends in global technology, capital investment, etc. The market is vast, but it wishes innovation, technology, and capital. There are certain challenges and limitations faced that will delay the overall market growth. The factors such as the shortage of skilled workforce, IT skill, and the absence of ideals and protocols are limiting the market growth. Also, security and privacy concerns are estimated to slow growth during the forecast period. Further, complex integrated systems and Competition from open-source replacements coupled with a lack of pro-active and real-time application visibility are the possible limits hindering the general growth of the global market.



  • Cumulative Growth Analysis 


The global application development business is estimated to produce USD 9,336 Million by the year 2023 at a CAGR of 21%. The demand for this product has increased because this application development offers many profits. The Asian and North American countries are concentrating on increasing the manufacture of it to meet the request and supply chain.


Value Chain Analysis


The global application development business seems to be really competitive. In order to target division, and position their sensors keen on the global market and to drive the market growth, the companies have to come up with an innovative technological solution to uphold themselves into the competitive landscape. Market leaders are investing in exploration and expansion for transforming their products constantly and progressively looking for market expansion through various tactical mergers and acquirements, innovation, and cost-effective product portfolio.


Segment Overview


The global application development marketplace is segmented into component, deployment, end-users, and region. These are the Application Development Market Segments-


By Component



  • Hardware

  • Software

  • Services 




    • Integration

    • Maintenance. 



By Deployment



  • On-cloud

  • On-premises. 


By End-users



  • BFSI

  • IT and telecommunications

  • media and entertainment

  • transportation, and others 


By Region



  • North America

  • Europe

  • Asia-Pacific

  • Rest of the World


Regional Analysis


The global application development marketplace is studied for the Asia Pacific, North America, Europe, and the Rest of the Domain. In North America, the application development market is gaining the maximum market growth due to the cumulative demand for cloud-based applications development, which is boosting the application development market growth. Europe is an emerging application development market due to the collective demand for artificial intelligence and is estimated to grow at the highest CAGR over the review period. Asia Pacific nations such as China, Japan, and India, are some of the foremost regions in the world in terms of market share.


Competitive Landscape


Corporations such as International Business Machines Corporation (U.S.), Salesforce.com, Inc. (U.S.), Microsoft Corp. (U.S.), Oracle Corp. (U.S.), SAP SE (Germany), HPE Company (U.S.), Alphabet Inc. (U.S.), are the primary providers of application development result in the global market. The rising claim for cloud computing and the internet of things is one of the main drivers of the application development business. The establishments can easily access apps and their data using the cloud.


These are the application development market top players fuelling the market growth-



  • ServiceNow, Inc.

  • CA Technology Inc. 

  • Compuware Corp. 

  • Fujitsu Ltd  

  • HCL Tech 

  • Red Hat, Inc. 

  • Wipro LTD 

  • NEC Corp. 


Recent Developments 



  • On May 10, 2017, Microsoft Corp. declared new tools and facilities for the developers to modernize current apps for all platforms and build new intelligent apps.

  • On Nov. 15, 2017, they announced azure data bricks, data platform technologies, and cross-platform designer tools, an innovative artificial intelligence, the internet of things, and machine learning tools for designers. This platform would support the continuous invention and deployment of intellectual applications. 

  • On November 4, 2015, they went into a firm with Red Hat Inc. to support users to hold hybrid cloud computing by building, installing, and handling applications.


Report Overview


This report delivers all the information about the growth of the global application development market in the forecast period. There are different sections available that support to get in-depth statistics such as opportunities, challenges, drivers, COVID 19 analysis, regional analysis, competitive landscape, and others. All of the facts are collected from primary and secondary sources to provide the estimated market growth of the application development market by 2027. 


Report Detail 



  • Historic Period: 2017

  • Base Year: 2019

  • Forecast Period: 2020-2027


By Geographically: 



  • North America

  • Europe, Asia-Pacific

  • Rest of the World (RoW)



Report Scope:
Report Attribute/Metric Details
  Market Size   USD 9,336 Million (2023)
  CAGR   21% (2023)
  Base Year   2019
  Forecast Period   2020-2027
  Historical Data   2017
  Forecast Units    Value (USD Billion)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   By Component, By Deployment
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Business Machines Corporation (U.S.), Salesforce.com, Inc. (U.S.), Microsoft Corp. (U.S.), Oracle Corp. (U.S.), SAP SE (Germany), Hewlett Packard Enterprise Company (U.S.), Alphabet Inc. (U.S.), ServiceNow, Inc. (U.S.), CA Technology Inc. (U.S.), and Compuware Corp. (U.S.), Fujitsu Ltd (Japan), HCL Tech (India), Red Hat, Inc. (U.S.), Wipro LTD (India), and NEC Corp. (Japan).
  Key Market Opportunities   The increasing scope of service-oriented architecture is boosting the application development market growth to a large extent. The service-oriented architecture is widely used among organizations.
  Key Market Drivers   In North America, the application development market is gaining the highest market growth due to the increasing demand for cloud based applications development, which is propelling the application development market growth.


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Frequently Asked Questions (FAQ) :

At 21% CAGR, the global market of application development is expected to expand in the review period (2016 to 2023).

By 2023, the application development market can value at USD 9336 Mn.

International Business Machines Corporation (U.S.), Microsoft Corp. (U.S.), Salesforce.com, Inc. (U.S.), Oracle Corp. (U.S.), and SAP are some reputed companies of the application development market.

The inclination of enterprises towards service-oriented architecture can favor the global application development market.

The surge in the deployment of cloud technology can impel the expansion of the application development market in North America.