Increasing adoption of cloud-based service has been instrumental in driving the growth. However availability of open-source platforms might hamper market growth
Rise in need for business-specific software solutions majorly drives demand for custom software development services. In addition, increase in use of chatbots for custom communication in organizations enhances growth of custom software development services market.
However, initial development as well as implementation of custom software is expensive as compared to basic software solutions, which is the major challenge to the market growth. Furthermore, emergence of open-source platforms for application development is opportunistic for the market as it can empower any custom web application with comprehensive and unique features.
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Major players analyzed include Accenture plc, Infosys, Tata Consultancy Services, Capgemini SE, Cognizant Technology Solutions Corporation, HCL Technologies Ltd., International Business Machines Corporation, Chetu, Zoho Corporation, IntellectSoftand, and NIX Solutions Ltd.
Artificial Intelligence (AI) is an essential component of all digital platforms. There is a trend of businesses to integrate advanced machine learning (ML) abilities in their applications to offer exceptional user experience. For instance, AI-powered chatbotshelp businesses to serve hundreds of customers easily.
Chatbots is one of the leading technologies among other software development technologies as it assists software to develop customer-friendly bots. Chatbots are emerging as easiest &fastest way and a complete solution for establishment and maintenance of custom communication with an ease of business. It can be observed that number of entrepreneurs are growing along with their businesses; and there is a definite requirement of chatbots. With an increase in chatbots development trend, custom application development market flourishes.
Prime Benefits from this Research Report:
• This study presents the analytical depiction of the global custom application development industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global custom application development market share.
• The current market is quantitatively analyzed from 2020 to 2027 to highlight the global custom application development market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
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