The increase in the need for enterprise-specific software solutions is mainly driving the demand for custom software development services. Also, the increased use of chatbots for personalized communication in organizations is enhancing the growth of the custom software development services market. However, the initial development as well as the implementation of custom software is expensive compared to commodity software solutions, which is the main challenge for the growth of the market. Moreover, the emergence of open source platforms for application development is opportunistic for the market as it can endow any custom web application with comprehensive and unique functionality.
Companies around the world use some form of open source software in their stack for mission-critical solutions. Additionally, software developers are constantly demanding the best possible techniques emerging in the open source field to help them develop software applications based on open source techniques. There is a growing trend of using different open source platforms including Java, Hadoop, PHP, Angular or React. Open source programming experts working across multiple platforms to empower custom web applications with unique and comprehensive functionality.
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Artificial intelligence (AI) is an essential component of all digital platforms. Enterprises tend to integrate advanced machine learning (ML) capabilities into their applications to deliver exceptional user experience. For example, AI-powered chatbots help businesses easily serve hundreds of customers.
Chatbots are one of the leading technologies among other software development technologies because they help software to develop user-friendly bots. Chatbots are becoming the easiest and fastest way and a complete solution to establish and maintain personalized communication with ease of use. It can be observed that the number of entrepreneurs grows with their businesses; and there is a definite requirement for chatbots. With an increase in the trend of chatbot development, the market for custom application development is flourishing.
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The global market report provides detailed market share, size and growth rate of various segments at country and regional level. It includes an in-depth study of market intricacies such as current trends, drivers, restraints, and opportunities. The report also highlights the qualitative aspects of the study. The market report also involves the competitive landscape containing the profiles of the top ten key players of the industry. The companies have been thoroughly analyzed on the basis of their revenue size, regional presence, product/service portfolio, major plans and policies, and overall contribution to market growth.
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The report offers key drivers propelling the growth of the global market. This information helps market players design strategies to gain market presence. The research also highlighted market constraints. Opportunity insights are mentioned to help market players take further steps by determining the potential in untapped regions.
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Major Market Players like- Infosys, Tata Consultancy Services, Capgemini SE, Cognizant Technology Solutions Corporation, HCL Technologies Ltd., International Business Machines Corporation, Zoho Corporation, IntellectSoft and ,NIX Solutions Ltd.
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