Application Development Software - Portugal

Portugal

The Application Development Software market in Portugal is expected to achieve a revenue of US$211.30m by the year 2024.
This projection indicates a promising growth potential for the industry.
Furthermore, the market is anticipated to exhibit a compound annual growth rate (CAGR) of 5.29% from 2024 to 2029, resulting in a market volume of US$273.40m by the end of the period.
When compared on a global scale, it is worth noting that United States is predicted to generate the highest revenue in the Application Development Software market, with an estimated value of US$91,950.00m in 2024.
This highlights the dominant position of the United States within the industry.
Portugal's growing tech ecosystem has led to an increased demand for application development software, making it a thriving market for software companies.

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

Market

Region

Region comparison

Currency

Analyst Opinion

The Application Development Software market in Portugal has seen a steady growth in recent years.

Customer preferences: Portuguese customers have shown a preference towards software that is easy to use and has a user-friendly interface. They also prefer software that is customizable and can be tailored to their specific needs. Furthermore, Portuguese customers value software that is affordable and provides good value for money.

Trends in the market: One of the major trends in the Application Development Software market in Portugal is the increasing use of cloud-based software. This trend is driven by the need for more flexible and scalable software solutions. Another trend is the growing demand for mobile application development software, as more and more businesses are looking to reach their customers through mobile devices.

Local special circumstances: Portugal has a vibrant startup ecosystem, which has led to a growing demand for software development tools. The country has a number of government initiatives to support startups, which has helped to fuel growth in the software development industry. Additionally, Portugal has a well-educated workforce, which has helped to attract foreign investment and talent to the country.

Underlying macroeconomic factors: Portugal has seen steady economic growth in recent years, which has helped to fuel demand for software development tools. Additionally, the country has a relatively low cost of living and a high quality of life, which has made it an attractive location for businesses looking to expand their operations in Europe. Finally, Portugal is a member of the European Union, which has helped to facilitate trade and investment in the country.

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.