Application Development Software - GCC

The Application Development Software market in GCC is expected to witness significant growth in the coming years.
By 2024, the revenue is projected to reach a staggering US$1.08bn.
This indicates a strong market potential in the GCC region.
Furthermore, the market is expected to exhibit a compound annual growth rate (CAGR) of 5.77% from 2024 to 2029.
This steady growth is anticipated to result in a market volume of approximately US$1.43bn by 2029.
When compared globally, United States is expected to generate the highest revenue in the Application Development Software market.
In 2024 alone, United States is projected to generate a substantial revenue of US$91,950.00m.
This highlights the dominance of the United States in this market segment.
The GCC has experienced a surge in demand for application development software, driven by the growing tech industry in the region.

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

Market

Region

Region comparison

Currency

Analyst Opinion

The demand for Application Development Software in the GCC region has been on the rise in recent years.

Customer preferences: Customers in the GCC region are increasingly looking for software that can help them automate their business processes, increase productivity, and improve customer experience. They are also looking for software that is easy to use and can be customized to their specific needs.

Trends in the market: One of the key trends in the GCC market is the growing adoption of cloud-based Application Development Software. This is due to the fact that cloud-based software is more cost-effective, scalable, and can be accessed from anywhere. Another trend is the increasing use of mobile applications, which has led to a rise in demand for mobile application development software. Additionally, there has been a growing interest in low-code or no-code development platforms, which allow businesses to build applications without requiring extensive coding knowledge.

Local special circumstances: The GCC region is known for its strong focus on innovation and technology, which has led to a growing demand for Application Development Software. Additionally, the region has a large number of small and medium-sized businesses, which are increasingly looking for software solutions to help them compete with larger businesses. Finally, the GCC region has a young and tech-savvy population, which is driving demand for mobile applications and other digital solutions.

Underlying macroeconomic factors: The GCC region has a strong and growing economy, which has led to increased investment in technology and innovation. Additionally, the region has a large number of expatriates who are bringing new ideas and technologies to the region. Finally, the GCC region is strategically located between Europe, Asia, and Africa, which has made it an attractive location for businesses looking to expand their reach.

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.