Market Watch study highlights below mentioned facts about software Development industry by 2022.
The global software engineering market is expected to grow approximately at USD 37.4 Billion by 2022, at an approx. CAGR of 11.72% between 2016 and 2022.
- By software type, CAD sub-segment in software engineering market accounts for the largest market share and is growing at a 13.28% CAGR, during the forecast period.
- By application, automation design sub-segment holds the largest market share, growing at a12.26% CAGR, during the forecast period.
- By end-user, automotive sub-segment holds the largest market share and is growing at a 13.48% CAGR, during the forecast period.
The reason behind such strong growth curve in this industry is because of the growing need for businesses to incorporate technology in every sphere of their operations to create competitive advantage and reduce their cost of operations. Artificial Intelligence, Internet of things, blockchain, Automation and Cloud computing are the need of the hour to make multi-national companies agile and proactive to their market conditions. Hence, we would like to discuss the five main benefits Zelite’s clients have realised after we developed custom app for their business operations.
Custom apps and software’s can be adapted to the client’s unique business operations. On the Shelf provide a generic service which results in more manual work for operations team to get the output. As every business has its unique processes, automating and generating reports cannot be achieved through standard software. Customised software can be built to align with business requirements enabling complete automation and reporting of the process with least manual work.
Every astute business owner wants to make an investment only when the ROI can be measured over a period. With custom software measuring ROI is very easy and straightforward as your systems get streamlined, manual work hours get reduced and errors are minimised impacting the overall profit margins. Unlike on-the-shelf software, custom software can be developed as your business evolves without having to pay any ongoing licensing fees and upgradations etc. Custom software for your business is considered intellectual property which adds to the value of your venture.
In today’s world businesses must be careful about securing their business data as well as their client’s information. On-the-shelf software cannot always provide the best security of your data and may not have enough contingency plan for any data breaches. Hence, having an inhouse custom software or app always ensure the business security is always intact and maintained.
Every industry is ever evolving which results in having to comply with many local and global regulations from time to time. On-the-shelf software’s may not always be updated with all the compliance requirement in their reporting tool which can cause a lot of manual work for your business. Custom software’s not only consider all the compliance requirement but can also produce the report in required style & format. Plus, the software will also be compliant with industry regulations and can be updated as required without any hassles.