Background and challenge

A private equity firm seeking promising investment opportunities in the app development space approached L.E.K. Consulting to conduct thorough buy-side due diligence on a reputable provider in the mobile and web app development market.

Navigating the rapidly evolving digital landscape required a detailed and multifaceted approach. With numerous variables at play, including fluctuating customer dynamics and an increasingly competitive market, evaluating the acquisition target proved complex.


To help our client navigate this opportunity, L.E.K. conducted extensive research and analysis, during which we:

  • Sized and segmented the market for mobile and web app development 

  • Examined the principal market growth drivers and trends, inclusive of spend evolution throughout COVID-19, market cyclicality and the potential impact of recessionary cycles 

  • Assessed customer dynamics, which covered aspects such as insourcing/outsourcing behavior, the provider selection process, switching dynamics and unmet needs 

  • Examined the influence of generative artificial intelligence, robotic process automation and low-code/no-code development tools in the mobile and web app development market 

  • Summarized the market landscape, including the go-to-market abilities unique to each competitor 

  • Highlighted potential growth opportunities for the acquisition target, considering factors such as entry into adjacent verticals/service lines, geographic expansion and the evolution of the business model over time compared with other players in the space


The data-rich insights from the L.E.K. team helped inform our client’s potential investment decisions in this market segment.

If you’re interested in discussing how L.E.K. can help you evaluate high-growth market opportunities, please contact us at

L.E.K. Consulting is a registered trademark of L.E.K. Consulting LLC. All other products and brands mentioned in this document are properties of their respective owners. © 2023 L.E.K. Consulting LLC

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