Application Development Software - Central & Western Europe

Central & Western Europe

Revenue in the Application Development Software market is projected to reach US$29.60bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 6.16%, resulting in a market volume of US$37.59bn by 2028.
In global comparison, most revenue will be generated in the United States (US$91,020.00m in 2024).

Key regions: Australia, Germany, United Kingdom, China, United States

Market

Region

Region comparison

Currency

Analyst Opinion

The demand for Application Development Software in Central & Western Europe has been increasing in recent years.

Customer preferences: Customers in Central & Western Europe are increasingly demanding software that is easy to use and has a high level of functionality. They are also looking for software that can be integrated with other systems and can be accessed from a variety of devices. In addition, customers are increasingly interested in software that is cloud-based and provides real-time collaboration and communication features.

Trends in the market: One of the key trends in the Application Development Software market in Central & Western Europe is the increasing demand for low-code and no-code software development platforms. These platforms allow users to develop software applications without the need for extensive coding knowledge, making it easier and more accessible for businesses to create custom software solutions. Another trend is the growing interest in open-source software, which provides users with more flexibility and control over their software solutions.

Local special circumstances: The Application Development Software market in Central & Western Europe is highly competitive, with a large number of local and international vendors competing for market share. In addition, there is a strong focus on data privacy and security in the region, which has led to increased demand for software solutions that comply with local regulations.

Underlying macroeconomic factors: The growth of the Application Development Software market in Central & Western Europe is being driven by a number of macroeconomic factors, including the increasing adoption of cloud computing and the growing importance of digital transformation for businesses in the region. In addition, the region has a highly skilled workforce and a strong culture of innovation, which has helped to drive the development of new and innovative software solutions.

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.