Application Development Software - EU-27

EU-27

Revenue in the Application Development Software market is projected to reach US$25.77bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 4.92%, resulting in a market volume of US$32.77bn by 2029.
In global comparison, most revenue will be generated in the United States (US$91,950.00m in 2024).

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

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Analyst Opinion

The Application Development Software market in EU-27 is experiencing a steady growth due to various factors that are driving the demand for software development tools and services.

Customer preferences: Customers in EU-27 are increasingly looking for software development tools that can help them streamline their development processes, reduce development time, and improve the quality of their software products. They are also looking for tools that can help them develop applications for multiple platforms and devices, including mobile, desktop, and cloud. In addition, customers are increasingly looking for tools that can help them integrate their software development processes with other business processes, such as project management, collaboration, and testing.

Trends in the market: One of the key trends in the Application Development Software market in EU-27 is the increasing adoption of cloud-based development tools. Cloud-based tools offer several advantages over traditional on-premises tools, including lower upfront costs, greater scalability, and easier collaboration across teams and locations. Another trend is the increasing use of low-code and no-code development platforms, which allow non-technical users to create and deploy applications without the need for extensive coding knowledge. This trend is driven by the growing demand for digital transformation and the need for businesses to quickly develop and deploy new applications to meet changing customer needs.

Local special circumstances: The Application Development Software market in EU-27 is characterized by a high degree of fragmentation, with a large number of small and medium-sized software development companies operating in the region. This fragmentation is driven by the diversity of languages, cultures, and business practices across the region, as well as the presence of several large multinational software companies. As a result, companies in the region need to be able to adapt quickly to changing market conditions and customer needs, and to develop software products that can meet the specific requirements of local markets.

Underlying macroeconomic factors: The growth of the Application Development Software market in EU-27 is driven by several underlying macroeconomic factors, including the increasing digitization of businesses and the growing demand for software products and services across all industries. The region is also home to a large pool of highly skilled software developers and engineers, which has helped to fuel the growth of the software development industry. In addition, the region benefits from a supportive regulatory environment, which encourages innovation and entrepreneurship, and from a highly developed IT infrastructure, which provides the necessary infrastructure for the development and deployment of software products and services.

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.