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June 2021

Software Engineering

The Custom Software Development industry is expected to grow by more than $26 billion over the next four years, according to Technavio. Growth is fueled by the need for customized software solutions to address the individual needs of businesses and the increasing complexity of business processes. Cross-platform development tools and the rapid rise of AI and machine learning are of particular focus in the industry. Low-code platforms have seen an increase in demand, as it allows for a collaborative development process between developers and end-users, effectively reducing development times and costs. So far, deal activity in 2021 has been outpacing the same period last year with 61 compared to 42 transactions closed.