Web Development Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 69.86 Billion |
| Market Size (2029) | USD 97.52 Billion |
| CAGR (2024 - 2029) | 6.91 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Web Development Market Analysis
The Web Development Market size is estimated at USD 69.86 billion in 2024, and is expected to reach USD 97.52 billion by 2029, at a CAGR of 6.91% during the forecast period (2024-2029).
- As businesses increasingly turn to digital platforms, the significance of web design and development becomes paramount. A meticulously crafted website not only acts as a business's digital storefront but also plays a pivotal role in engaging customers, boosting brand visibility, and driving sales. It's an essential asset for businesses aiming to cement their online presence, broaden their audience reach, and thrive in the competitive digital arena.
- The market is set to surge, fueled by a heightened focus on user experience (UX). Businesses are waking up to the fact that a smooth and captivating UX is key to customer retention and conversion. This heightened emphasis is driving demand for adept web designers and developers, underscoring the market's growth potential.
- According to Blue Corona, nearly 48% of individuals cite a website's design as the primary determinant of a business's credibility. Moreover, a staggering 80% of consumers would disengage with content that isn't optimally displayed on their devices. On average, users dedicate 5.94 seconds to a website's main image and 5.59 seconds to its written content.
- With mobile usage on the rise, the burgeoning demand for mobile app development is opening new avenues for the market. Businesses are increasingly seeking expert web design and development services to craft these mobile applications.
- However, the market faces challenges, notably from rising cybersecurity concerns. As cyber threats loom larger, clients are insisting on fortified security measures for their websites. This growing demand for stringent security could pose challenges for firms that struggle to meet these heightened standards.
- During covid, the shift to online shopping accelerated, leading businesses to invest in robust e-commerce platforms. Web developers are focusing on creating user-friendly, secure, and scalable online stores. As more users engage with websites during and post covid, there's a heightened emphasis on UX design. Websites need to be intuitive, fast, and accessible to meet user expectations, leading to a greater focus on design principles and usability testing.
- Post pandemic, the demand for user-friendly CMS platforms has grown, enabling businesses to easily manage their content. Popular systems like WordPress, Shopify, and Wix continue to evolve, offering more features and integrations.
Web Development Market Trends
Retail to Hold Significant Share for the Market
- In recent years, e-commerce has solidified its role as a cornerstone of global retail. The rise of the internet and the ongoing digitalization of daily life have significantly reshaped the landscape of buying and selling goods. With over five billion users now online, the surge in global internet adoption has paralleled a rise in online shopping.
- Retailers, through their websites, can now reach customers far beyond the confines of their physical locations. Once established online, a retailer's reach extends nationwide.
- While certain websites cater specifically to B2B (business-to-business) transactions, individual consumers also enjoy a plethora of digital shopping options. In 2023, online marketplaces dominated the global online purchasing landscape, with Amazon leading in traffic.
- A prominent trend in e-commerce is the surge in mobile device usage. According to Ericsson, by early 2024, smartphones were responsible for nearly 80% of global retail website visits and led in generating online orders, outpacing desktops and tablets.
- Retailers can enhance their profits without fully diving into e-commerce. A simple website featuring a store's contact number, operational hours, and high-quality images suffices. While platforms like Yelp, Bing, and Yahoo can boost visibility, Google Search remains dominant, commanding 90% of the search engine market. As online sales continue to rise, so too will the demand for web development, signaling a market upswing.
North America to Hold Significant Market Growth
- As businesses increasingly move online and consumers turn to the internet for their needs, North America sees a rising demand for skilled web developers. The growing reliance on mobile devices and the need for mobile-optimized sites further drive this demand.
- According to StatCounter, in July 2023, most web traffic in the U.S. came from laptops and desktops. Mobile phones contributed about 32% of the traffic, while tablets accounted for less than 2%.
- Web developer employment is set to outpace the average growth rate over the next decade, underscoring the strong demand for skilled programmers. Candidates eyeing these roles will need to be well-versed in key programming languages such as JavaScript, Java, Python, and C#. Familiarity with web development frameworks like React, Angular, and Node.js will be a significant advantage.
- The Bureau of Labor Statistics forecasts a 16% growth in web developer employment from 2022 to 2032, outpacing the average growth rate for all occupations. This translates to approximately 34,700 new web developer positions being added annually in the U.S.
- New technologies, including artificial intelligence, the Internet of Things, and augmented reality, are opening doors to fresh opportunities, driving significant market demand.
Web Development Industry Overview
The Web Development market is highly competitive and fragmented, primarily driven by the presence of major players. These key players employ strategies such as mergers, acquisitions, and product innovations to maintain a competitive edge and broaden their global footprint.Key player include Unified Infotech, SDLC Corporation, instinctools GmbH, and others.
Currently, HTML, CSS, JavaScript, React, WebAssembly, or Angular will be used to write PWAs. Web developers are embracing PWA principles to provide dependable and engaging user experiences. Besides assisting companies in performing faster operations using voice or text chats, AI-enabled chatbots is expected to improve customer experience leaidng to market growth.
Web Development Market Leaders
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Unified Infotech
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SDLC Corporation
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instinctools GmbH
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Softnix Infotech
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Openxcell
*Disclaimer: Major Players sorted in no particular order
Web Development Market News
- March 2024: Amazon Web Services (AWS), an Amazon.com company and NVIDIA announced that the new NVIDIA Blackwell GPU platform unveiled by NVIDIA at GTC 2024 is coming to AWS. AWS will offer the NVIDIA GB200 Grace Blackwell Superchip and B100 Tensor Core GPUs, extending the companies’ long standing strategic collaboration to deliver the most secure and advanced infrastructure, software, and services to help customers unlock new generative artificial intelligence (AI) capabilities.
- January 2024: IndiaNIC, a key market player, introduced a groundbreaking solution that employs AI-based simulation to transform optimization in the construction sector, managing intricate, unpredictable scenarios, improving decision-making, and refining construction project management.
Web Development Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Attractiveness - Porter's Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Consumers
4.2.3 Threat of New Entrants
4.2.4 Threat of Substitute Products
4.2.5 Intensity of Competitive Rivalry
4.3 Industry Value Chain Analysis
4.4 Assessment of Impact of macroeconomic trends
5. MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Adoption of AI Chatbots
5.1.2 Trend Towards Single-Page Applications (SPAs)
5.2 Market Restraints
5.2.1 Cross-Browser Compatibility Issues
6. MARKET SEGMENTATION
6.1 By Type
6.1.1 Website
6.1.2 Web App
6.2 By Enterprises
6.2.1 SMEs
6.2.2 Large Enterprises
6.3 By End-user Vertical
6.3.1 Retail and E-commerce
6.3.2 Healthcare
6.3.3 IT and Telecom
6.3.4 BFSI
6.3.5 Government
6.3.6 Other End-user Verticals
6.4 By Geography***
6.4.1 North America
6.4.2 Europe
6.4.3 Asia
6.4.4 Australia and New Zealand
6.4.5 Latin America
6.4.6 Middle East and Africa
7. COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 Unified Infotech
7.1.2 SDLC Corporation
7.1.3 instinctools
7.1.4 Softnix Infotech
7.1.5 Openxcell
7.1.6 SoluLab Inc.
7.1.7 Plavno
7.1.8 KitRUM Inc.
7.1.9 PageTraffic Inc
7.1.10 9thCO Inc.
- *List Not Exhaustive
8. INVESTMENT ANALYSIS
9. FUTURE OUTLOOK OF THE MARKET
Web Development Industry Segmentation
Web development is the process of building, programming, and maintaining websites and web applications. Website developers use various programming languages, like HTML, CSS, and JavaScript, to develop websites and web applications. The revenue generation include subscription and licensing services.
The web development market is segmented by type (website, web app), enterprises (SMEs, large enterprises), end-user vertical (retail and e-commerce, healthcare, IT and telecom, BFSI, government, other end-user verticals), geography (North America, Europe, Asia-Pacific, Latin America, Middle east and Africa). The market sizes and forecasts are provided in terms of value (USD) for all the above segments.
| By Type | |
| Website | |
| Web App |
| By Enterprises | |
| SMEs | |
| Large Enterprises |
| By End-user Vertical | |
| Retail and E-commerce | |
| Healthcare | |
| IT and Telecom | |
| BFSI | |
| Government | |
| Other End-user Verticals |
| By Geography*** | |
| North America | |
| Europe | |
| Asia | |
| Australia and New Zealand | |
| Latin America | |
| Middle East and Africa |
Web Development Market Research FAQs
How big is the Web Development Market?
The Web Development Market size is expected to reach USD 69.86 billion in 2024 and grow at a CAGR of 6.91% to reach USD 97.52 billion by 2029.
What is the current Web Development Market size?
In 2024, the Web Development Market size is expected to reach USD 69.86 billion.
Who are the key players in Web Development Market?
Unified Infotech, SDLC Corporation, instinctools GmbH, Softnix Infotech and Openxcell are the major companies operating in the Web Development Market.
Which is the fastest growing region in Web Development Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Web Development Market?
In 2024, the North America accounts for the largest market share in Web Development Market.
What years does this Web Development Market cover, and what was the market size in 2023?
In 2023, the Web Development Market size was estimated at USD 65.03 billion. The report covers the Web Development Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Web Development Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Web Development Industry Report
Statistics for the 2024 Web Development market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Web Development analysis includes a market forecast outlook for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
