Application Development Software - Eastern Africa

Eastern Africa

In Eastern Africa, the Application Development Software market is anticipated to witness a significant growth in the coming years.
By 2024, the projected revenue for this market is estimated to reach US$376.00m.
This growth is expected to continue with a compound annual growth rate (CAGR 2024-2029) of 10.56%, resulting in a market volume of US$621.20m by 2029.
When compared to other countries worldwide, United States is forecasted to generate the highest revenue in the Application Development Software market.
In 2024 alone, the revenue is expected to reach a staggering US$91,950.00m.
This showcases the dominance of the United States in this market segment.
Eastern Africa is experiencing a surge in demand for application development software, as businesses in the region seek to stay competitive in the digital era.

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

Market

Region

Region comparison

Currency

Analyst Opinion

The demand for Application Development Software in Eastern Africa is on the rise, with several factors driving this growth.

Customer preferences: Eastern African customers are increasingly looking for software that can help them streamline their business operations and improve efficiency. This has led to a surge in demand for application development software that can be customized to meet specific business needs. Additionally, there is a growing preference for cloud-based solutions that offer scalability and flexibility.

Trends in the market: Kenya is currently the largest market for application development software in Eastern Africa, with a growing number of startups and small businesses driving demand. Tanzania and Uganda are also emerging as key markets, with a focus on developing mobile applications for both commercial and social purposes. In Ethiopia, the government's push towards digitalization is driving demand for application development software in sectors such as healthcare and education.

Local special circumstances: One of the unique challenges facing the application development software market in Eastern Africa is the lack of technical expertise. This has led to a growing trend of outsourcing software development to other countries, particularly India. However, there is also a growing number of local software development companies that are working to bridge this skills gap.

Underlying macroeconomic factors: The growth of the application development software market in Eastern Africa is being driven by several macroeconomic factors. These include a growing middle class, increasing internet penetration, and a push towards digitalization by governments and businesses. Additionally, the region's young and tech-savvy population is driving demand for innovative software solutions that can help them solve everyday problems. Overall, the application development software market in Eastern Africa is poised for continued growth in the coming years.

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.