TECH SUPPLIER Apr 2020 - Market Forecast - Doc # US46210115
Worldwide and U.S. Custom Application Development Services Forecast, 2020–2024
This IDC study presents forecasts of spending (customer expenditures) for the custom application development (CAD) services market for 2020-2024. This IDC research document includes advice to CAD services providers, an analysis of key market and industry trends by importing market, key market drivers and inhibitors, significant market developments, and highlights of key changes from the prior forecast. This study also updates the previous forecast published in Worldwide and U.S. Custom Application Development Services Forecast, 2019–2023 (IDC #US43777619, April 2019).
"COVID-19 has had a profound effect on businesses in 1Q20. While 2019 showcased strong growth for custom application development services, growth for the remainder of 2020 and beyond will depend on a variety of factors, especially as organizations across industry verticals battle against the impact that the virus has caused to their cash flows. While investments in custom developed apps will continue over the long haul, enterprises are wrestling with using cash for custom development projects versus using that cash to keep operations afloat. Because of that, IDC believes custom development projects will systemically be tabled across a variety of industries in the short term. Verticals like insurance and personal consumer are expected to be hit hardest by the virus' impact in the near team, while industries like healthcare and government may actually be areas of opportunity for custom application development services providers to target for the remainder of 2020 and into 2021. Regardless, this unprecedented pandemic is negatively affecting most industries and creating a very tough environment for CAD services providers to build upon the success of 2019." — Pete Marston, research director, Worldwide Intelligent Application Services Research at IDC
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List of Figures
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