The application development software market size will reach

TOKYO, Aug. 22, 2022 (GLOBE NEWSWIRE) — TOKYO, August 232022 (GLOBE NEWSWIRE) – The Global Application Development Software Market The size accounted for USD 187 billion in 2021 and is expected to reach a market size of USD 1,628 billion by 2030; with a CAGR of 27.4%.

The rapid digital transformation in the world is the main growth driver of the global application development software market. Software applications all over the world make difficult tasks easier and are therefore growing rapidly in every industry. The expansion of the Internet has had a significant impact on the software industry, from the ease with which new businesses can be created to the methods organizations use to develop, distribute and support their products. As a result, the growing adoption of the internet is helping the application development software industry grow.

Rising demand for mobile applications is one of the recent application development software market trends that is gaining prominence in both developed and developing economies. A growing number of platforms for developing software applications is supporting the revenue of the global application development software market. Some of the trending platforms in the industry include SQL Server, Angular.js, React, Node.js, Bootstrap.js, Azure, Web API, iOS, Android, Xamarin and many more. Additionally, the growing demand for software applications in end-use industries such as IT & Telecom, Healthcare, BFSI, and Media & Entertainment is expected to generate plenty of growth opportunities for the market in the coming years. to come from 2022 to 2030.

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Report cover:

Market Application Development Software Market
Application Development Software Market Size 2021 $187 billion
Application Development Software Market Forecast 2030 $1.628 billion
Application Development Software Market CAGR from 2022 to 2030 27.4%
Application Development Software Market Analysis Period 2018 – 2030
Application Development Software Market Base Year 2021
Application Development Software Market Forecast Data 2022 – 2030
Segments Covered By type, by deployment model, by application, by business size and by geography
Regional Scope of Application Development Software Market North America, Europe, Asia-Pacific, Latin America, Middle East and Africa
Profiled Key Companies Alphabet Inc., Azure, Datadog Cloud Monitoring, Fujitsu Ltd., HCL Technologies, IBM Corporation, Microsoft Corporation, Oracle Corporation, Salesforce, SAP HANA Cloud Platform, Wipro Limited and Zoho Corporation.
Report cover Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulatory Analysis

Impact of COVID-19 on the Global Application Development Software Market Value

As the incidence of coronavirus infections has increased, entire organizations have started converting to remote operations. Many industries, including retail tourism and airlines, have significantly overhauled their business structures in response to the COVID-19 outbreak. In the current difficult circumstances, organizations of all sizes are eager to capitalize on this chance to meet people’s needs through digital platforms, from start-ups to established companies. For example, the mobile apps that have emerged during the pandemic provide a lifeline and much-needed companion amid lockdowns and social exclusion. Market demand declined in the first quarter of 2020 due to the immediate shutdown of operations, travel restrictions and the temporary closure of media houses and production units. However, the market gained momentum in the following quarter and is now showing double-digit growth.

Application Development Software Market Dynamics

Rising adoption of internet across the globe is driving the growth of the global application development software market. Global internet users have grown to 4.95 billion at the start of 2022, with internet penetration currently reaching 62.5% of the total global population. The data reveals that Internet users grew by 192 million (more than 4%) in 2021. Likewise, the growing number of social media users is prompting IT players to update existing programs or develop new ones. In January 2022, for example, there are 4.62 billion social media users worldwide. This amount represents 58.4% of the total world population.

According to our analysis, the global digital transformation is increasing the application development software market value. A flood of new technologies is accelerating the rate at which business is performed, giving software unprecedented control over the growth and functioning of an organization. Apps are currently the main drivers of new services and revenue streams, primarily by providing compelling new user experiences and fostering the formation of whole new markets.

Aerospace and Defense’s growing reliance on custom software applications is expected to drive industry demand. Increase in government projects, increase in expenditure in the railway and transportation industry and booming IT industries are creating a demand for the application development software industry. However, the high cost of these applications can make it difficult for enterprises to acquire software applications with low budgets, thus limiting the growth of the market. Additionally, Industry 4.0, smart industry, industry of the future, and factory of the future are some of the trends that are opening new growth prospects for the market in the near future.

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Application development software market segmentation

The global market has been divided into five categories: type, deployment model, application, company size, and region.

The type segment is divided into low-code development platforms and no-code development platforms. Among these, low-code development platforms sub-segment dominated the market with majority share in 2021 and is expected to continue its dominance during the forecasted period of 2022 to 2030.

The deployment model is categorized into two types: on-premises and cloud-based. Among them, the on-premises segment will dominate the industry in the coming years. However, the cloud-based sub-segment is changing the industry trend as companies focus on cloud services. Cloud-based software offers anywhere, anytime access, is inexpensive, scalable, reduces energy costs, and provides a high level of security. All of these factors are expected to drive future demand for cloud-based software.

The applications segment is further divided into BFSI, media and entertainment, IT and telecommunications, healthcare, travel and tourism, and others. According to our analysis of the application development software industry, the media and entertainment segment generated the maximum share due to the growing demand for OTT platforms. On the other hand, the information technology and telecommunications segment is poised to grow with an impressive CAGR due to the growing need for custom software and services in these sectors.

Also, large enterprises and small and medium-sized enterprises (SMEs) are covered under the enterprise size segment. According to our application development software market forecast, large enterprises will occupy a notable market share in the coming years while SMBs will experience the fastest growth rate (CAGR) in the near future.

Application Development Software Market Regional Outlook

The global application development software market is divided into five regions: North America, Latin America, Europe, Asia-Pacific, Middle East and Africa. In 2021, North America captured the market with a lion’s share owing to the growing internet penetration in the region. Moreover, the high purchasing power of companies in new technologies, the presence of some prominent players in the region and the increasing adoption of futuristic technologies such as artificial intelligence, machine learning and virtual reality and augmented, among others.

However, the Asia-Pacific region is expected to experience considerable market growth over the forecasted period of 2022 to 2030. Growing number of IT companies, developing economies, growing trend to develop software on open source and a growing number of smartphone users in countries like China and India.

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Application Development Software Market Players

Some of the top application development software companies covered in the industry include Alphabet Inc., Azure, Datadog Cloud Monitoring, Fujitsu Ltd., HCL Technologies, Wipro Limited, IBM Corporation, Oracle Corporation, Microsoft Corporation, SAP HANA Cloud Platform , Salesforce and Zoho Corporation. .

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