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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Impact of COVID-19 on Custom Application Development Market:
➢ Due to the sudden outbreak of COVID-19 pandemic, many factories and technical units are running limited operations or stopped production and temporarily closed their units. However, use of online services have increased considerably as people locked down at their homes. It gives rise to need of customized software solutions for online retailers and e-stores, gaming & entertainment, and financial, banking, and payment services.
➢ This pandemic expected to help increase in development and adoption rate of custom mobile app solutions to leverage organization, business, or service. Businesses are looking for building new software solutions that will help them to collaborate remotely, optimize productivity with less staff, and digitalize their offerings.
➢ As the speed becomes important in these troubled times, businesses are embracing software development outsourcing partners that can support them to build quality software quickly and at a lesser cost.
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.
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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.
Businesses around the world uses some form of open-source software in their stack for crucial solutions. In addition, software developers are constantly demanding best possible techniques that emerges in the field of open source to help them develop open source technique-based software applications. There is a growth trend for using different open source platforms including Java, Hadoop, PHP, Angular, or React. Open source programming experts working on multiple platforms to empower custom web applications with unique and comprehensive features.
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Leading Market Players:
➢ Accenture plc
➢ Zoho Corporation
➢ Capgemini SE
➢ NIX Solutions Ltd.
➢ Cognizant Technology Solutions Corporation
➢ Tata Consultancy Services
➢ IntellectSoftand
➢ HCL Technologies Ltd.
➢ Infosys
➢ International Business Machines Corporation
These players have adored various strategies to increase their market penetration and strengthen their position in the industry. Current and future Custom Application Development market trends are outlined to determine the overall attractiveness of the market.
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