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Application Development Software - Angola

Angola
  • In Angola, the Application Development Software market is anticipated to witness a substantial growth in revenue, with projections indicating that it will reach US$115.27m by 2025.
  • Moreover, the market is expected to display a promising annual growth rate (CAGR 2025-2029) of 3.54%, resulting in a significant market volume of US$132.46m by 2029.
  • When compared globally, it is noteworthy that United States will generate the highest revenue in this market segment, with an estimated value of US$97.64bn in 2025.
  • In Angola, there is a growing demand for application development software as businesses strive to digitize their operations and enhance their competitiveness in the market.

Revenue

NOTES: Data was converted from local currencies using average exchange rates of the respective year.

MOST_RECENT_UPDATE: Sep 2024

SOURCE: Statista Market Insights

NOTES: The chart “Comparable Estimates” shows the forecasted development of the selected market from different sources. Please see the additional information for methodology and publication date.

MOST_RECENT_UPDATE: Jul 2024

NOTES: Data was converted from local currencies using average exchange rates of the respective year.

MOST_RECENT_UPDATE: Sep 2024

SOURCE: Statista Market Insights

Key Players

MOST_RECENT_UPDATE: Mar 2024

SOURCE: Statista Market Insights

Analyst Opinion

The Application Development Software market in Angola has been steadily growing in recent years, driven by a number of factors that are unique to the country.

Customer preferences:
Angolan customers have shown a strong preference for software solutions that are tailored to their specific needs. This has led to an increase in demand for custom application development software, as well as software that can be easily integrated with existing systems. Additionally, customers in Angola are increasingly looking for software that is user-friendly and easy to use, which has led to a rise in demand for low-code and no-code application development platforms.

Trends in the market:
One of the key trends in the Application Development Software market in Angola is the rise of cloud-based solutions. With the increasing availability of high-speed internet, many businesses in Angola are looking to move their applications to the cloud, which offers a number of benefits such as increased scalability, flexibility, and cost savings. Another trend in the market is the growing adoption of mobile application development software, as more and more Angolans access the internet through their smartphones.

Local special circumstances:
Angola has a rapidly growing tech industry, which has been fueled by a number of government initiatives aimed at promoting innovation and entrepreneurship. This has led to an increase in demand for application development software, as local startups and businesses look to develop new and innovative solutions to meet the needs of the Angolan market. Additionally, Angola has a large and growing population of young people, many of whom are tech-savvy and eager to embrace new technologies.

Underlying macroeconomic factors:
Angola has experienced significant economic growth in recent years, driven by its oil and gas industry. This growth has led to an increase in disposable income, which has in turn fueled demand for technology products and services. Additionally, Angola has a large and growing middle class, which is increasingly interested in using technology to improve their businesses and their lives. Finally, Angola has a relatively low level of technology adoption compared to other countries in the region, which means that there is significant room for growth in the Application Development Software market.

Global Comparison

NOTES: Data was converted from local currencies using average exchange rates of the respective year.

MOST_RECENT_UPDATE: Sep 2024

SOURCES: Statista Market Insights, Financial Statements of Key Players, National statistical offices

Methodology

Data coverage:

The data encompasses B2B, B2G, and B2C enterprises. Figures are based on the allocation to the country where the money was spent at manufacturer price level (excluding VAT).

Modeling approach / Market size:

The segment size is determined through a top-down approach. We use financial statements such as annual reports, quarterly earnings, and expert opinions to analyze the markets. To estimate the segment size for each country individually, we use relevant key market indicators and data from country-specific industry associations such as GDP, level of digitization, GDP sector composition, and observed level of software piracy.

Forecasts:

We use a variety of forecasting techniques, for instance, advanced statistical methods, depending on the behavior of the relevant segment. The main drivers are the GDP and the level of digitization.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.

Technology

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Software: market data & analysis  - BackgroundSoftware: market data & analysis  - Cover

Key Market Indicators

NOTES: Based on data from IMF, World Bank, UN and Eurostat

MOST_RECENT_UPDATE: Jan 2025

SOURCE: Statista Market Insights

OUTLOOK_EXPLORE_RELATED_TOPICS

Software development - statistics & facts

Imagine a world without the apps you use daily, the games you enjoy, or the websites you rely on. Software development is the invisible hand behind this digital magic, transforming ideas into the tools that shape our lives. Software development is the process of creating, designing, deploying, and supporting software. It includes all the computer activities between the software's conception and final manifestation.

These activities are planned and put into stages in a logical order, a process known as the software development life cycle (SDLC) or software development. The SDLC often includes six stages: requirement analysis, design, development, testing, implementation, documentation, and evolution. Programming languages such as JavaScript and C++ are used to create software, with JavaScript being the most popular programming language in 2023 and used by roughly 65 percent of software developers.

OUTLOOK_MORE_DATA_ON_TOPIC

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