Find stats on top websites
Industry Landscape
The software consulting services industry is currently experiencing growth, driven by the increasing demand for digital transformation and cloud adoption. Businesses are seeking expert guidance to optimize their software development processes, implement agile methodologies, and enhance product management strategies. The rise of SaaS and the need for specialized consulting in areas like AI and data analytics are also contributing to the industry's expansion. Competition is increasing, with both large consulting firms and niche players vying for market share.
Total Assets Under Management (AUM)
Software Revenue in United States
~465 Billion USD
(7.5% CAGR)
The annual growth rate of the software revenue demonstrates robust expansion. Statista estimates the IT Services market in the US to grow at 7.5% in 2024 [https://www.statista.com/outlook/tmo/it-services/united-states]. This growth is fueled by:
- Increased demand for digital transformation.
- Growing adoption of cloud-based solutions.
- Rising investments in AI and data analytics.
Total Addressable Market
350 billion USD
Market Growth Stage
Pace of Market Growth
Emerging Technologies
AI-Driven Consulting
AI-driven consulting is transforming software development by automating tasks, providing data-driven insights, and enabling personalized solutions, improving efficiency and effectiveness of consulting services.
Low-Code/No-Code Platforms
Low-code/no-code platforms are enabling faster software development cycles and citizen development, which impacts consulting by requiring expertise in platform integration and governance.
Edge Computing
Edge computing enables processing data closer to the source, reducing latency and improving performance for applications, thus expanding software consulting to support edge infrastructure and application optimization.
Impactful Policy Frameworks
General Data Protection Regulation (GDPR)
The General Data Protection Regulation (GDPR), enacted in 2018, regulates the processing of personal data of individuals within the EU, imposing obligations on organizations regarding data collection, storage, and usage.
Compliance with GDPR impacts data handling practices within software consulting projects, requiring adherence to stringent data protection measures, influencing design and implementation.
California Consumer Privacy Act (CCPA)
The California Consumer Privacy Act (CCPA), effective in 2020, grants California residents rights regarding their personal data held by businesses, including the right to know, delete, and opt-out of the sale of their data.
CCPA compliance mandates greater transparency and control for California residents over their personal data, impacting software design and data processing practices for companies serving this market.
NIST Cybersecurity Framework
The NIST Cybersecurity Framework, developed by the National Institute of Standards and Technology, provides a set of standards, guidelines, and best practices to manage cybersecurity-related risks.
The NIST Cybersecurity Framework provides a standardized approach to manage cybersecurity risks, impacting consulting services by requiring alignment with its guidelines for software development and security implementations.
Transform Your Ideas into Action in Minutes with WaxWing
Sign up now and unleash the power of AI for your business growth
