GITNUX MARKETDATA REPORT 2024

Custom Software Development Industry Statistics

The custom software development industry is projected to continue growing steadily, driven by increasing demand for personalized solutions across a wide range of sectors.

Statistic 1

"The market size of custom software development in the US was $153 billion in 2020."

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Statistic 2

"The global custom software development sector is predicted to grow at a CAGR of 7.0% from 2019 to 2025."

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Statistic 3

"More than 50% of businesses turn to third-parties to fulfill their software development needs."

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Statistic 4

"In 2019, 63% of businesses outsourced application/software maintenance."

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Statistic 5

"The global custom software development market is expected to reach $917.74 billion by 2028."

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Statistic 6

"In 2020, 57% of IT services were outsourced, including software development."

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Statistic 7

"Approximately 62% of IT companies developed software using Agile methodologies for custom software development."

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Statistic 8

"The global market for IT outsourcing is projected to reach $397.6 billion by 2025."

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Statistic 9

"By 2025, the application development segment is expected to hold a considerable share of the outsourcing market."

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Statistic 10

"24% of organizations outsource to enhance their service quality, including software development."

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Statistic 11

"Offshore software development rates vary from $25 to $50 per hour."

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Statistic 12

"34% of businesses want to improve software development speed by outsourcing."

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Statistic 13

"More than 70% of companies plan to increase their use of outsourcing, including IT and software development services."

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