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Industry Landscape
The custom software development industry is experiencing robust growth, driven by increasing digital transformation initiatives, AI adoption, and the need for tailored solutions. Businesses are investing in bespoke software to gain competitive advantages, streamline operations, and enhance customer experiences, with a strong focus on cloud-native solutions and data security.
Total Assets Under Management (AUM)
Custom Software Development Market Size in United States
~300 Billion USD
(10.5% CAGR)
- Driven by digital transformation.
- Increased cloud adoption.
- AI integration across sectors.
Total Addressable Market
300 billion USD
Market Growth Stage
Pace of Market Growth
Emerging Technologies
Generative AI
Generative AI, including Large Language Models (LLMs), is transforming software development by automating code generation, testing, and documentation, significantly increasing developer productivity and accelerating project timelines.
Edge Computing
Edge computing brings computation and data storage closer to the data sources, enabling real-time processing, reduced latency, and enhanced data security for applications in various industries, especially IoT and critical infrastructure.
Low-Code/No-Code Development Platforms
These platforms enable rapid application development with minimal to no coding, democratizing software creation and allowing business users to build custom solutions, thereby increasing development efficiency and reducing time-to-market.
Impactful Policy Frameworks
American Data Privacy and Protection Act (ADPPA) - Proposed
The ADPPA is a comprehensive federal privacy bill proposed in 2022 that aims to create a national standard for data privacy, superseding state laws like CCPA and establishing broad consumer data rights and corporate responsibilities.
This policy, if enacted, will standardize data privacy compliance across the U.S., simplifying multi-state operations but requiring significant updates to data handling practices for Kwanso and its clients.
NIST AI Risk Management Framework (AI RMF 1.0) - 2023
Developed by the National Institute of Standards and Technology, the AI RMF provides voluntary guidance for organizations to manage risks associated with designing, developing, deploying, and using AI systems, focusing on trustworthiness and responsible AI.
This framework will guide Kwanso in developing more trustworthy and ethically sound AI solutions, potentially becoming a de facto standard that influences client requirements for AI governance and transparency.
Cyber Incident Reporting for Critical Infrastructure Act (CIRCIA) - 2022
Part of the Consolidated Appropriations Act of 2022, CIRCIA mandates certain critical infrastructure entities to report significant cyber incidents and ransomware payments to the Cybersecurity and Infrastructure Security Agency (CISA) within specified timelines.
Kwanso's clients in critical infrastructure sectors will face increased compliance burdens, leading to greater demand for Kwanso's security auditing and compliance expertise to ensure timely and accurate incident reporting capabilities.
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