Application Development Software - Morocco

Morocco

The Application Development Software market in Morocco is forecasted to witness a significant surge in revenue, with projections indicating it will reach US$95.15m in 2024.
Moreover, the market is expected to exhibit a promising annual growth rate (CAGR 2024-2029) of 6.62%, culminating in a market volume of US$131.10m by 2029.
When compared globally, United States is anticipated to generate the highest revenue, amounting to US$91,950.00m in 2024.
In Morocco, the demand for application development software is rapidly increasing, as businesses seek to digitize their operations and expand their online presence.

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

Market

Region

Region comparison

Currency

Analyst Opinion

The Application Development Software market in Morocco has been developing at a steady pace in recent years.

Customer preferences: Moroccan customers, like customers worldwide, are increasingly looking for software development tools that are easy to use, customizable, and compatible with multiple platforms. Moroccan companies, particularly those in the telecommunications and banking sectors, are investing heavily in software development to improve their customer experience and stay ahead of the competition.

Trends in the market: One trend that has emerged in the Moroccan market is the increasing popularity of cloud-based software development tools. Cloud-based tools offer several advantages over traditional software development tools, including lower costs, increased flexibility, and improved collaboration. Another trend is the growing demand for open-source software development tools. Open-source tools are free to use and can be customized to meet the specific needs of Moroccan companies.

Local special circumstances: One factor that has contributed to the growth of the Application Development Software market in Morocco is the country's relatively young population. With a median age of just 29 years, Morocco has a large and growing pool of young, tech-savvy workers who are eager to develop new software applications. Additionally, Morocco's strategic location at the crossroads of Europe, Africa, and the Middle East has made it an attractive destination for multinational companies looking to expand their software development operations.

Underlying macroeconomic factors: Morocco's economy has been growing at a steady pace in recent years, driven in part by the country's strong export sector. This has created a favorable business environment for companies operating in the Application Development Software market. Additionally, Morocco has made significant investments in its telecommunications infrastructure in recent years, which has improved internet connectivity and made it easier for Moroccan companies to collaborate with partners around the world.

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.