Application Development Software - Serbia

In Serbia, the Application Development Software market is expected to witness a significant increase in revenue, with projections indicating a rise to US$51.95m by 2024.
This growth is anticipated to continue at a steady pace, with an estimated compound annual growth rate (CAGR 2024-2029) of 9.93%.
As a result, the market volume is predicted to reach US$83.41m by 2029.
When compared globally, it is worth noting that United States is expected to generate the highest revenue in this market, reaching a staggering US$91.95bn in 2024.
Serbia's growing tech talent pool and affordable labor costs make it an attractive destination for companies seeking application development software solutions.

Definition:

The Application Development Software market covers software development tools used by developers to design, create, test, and deploy applications. These applications can be anything from mobile apps and web-based software to complex enterprise applications. Examples of software solutions in the Application Development Software market include a wide range of tools and technologies, such as integrated development environments (IDEs), code editors, compilers, debuggers, testing and deployment tools, and programming languages.

Products in the Application Development Software market can be obtained in two ways: as on-premises software that is sold via a transactional license or a subscription and as cloud-based software (software as a service/ SaaS) that is most frequently sold as a subscription.

Additional Information:

The Application Development Software market comprises revenue and revenue growth as the key performance indicators. Only the revenues that are generated by primary vendors at the manufacturer price level either directly or through distribution channels (excluding value-added tax) are included and the revenues generated by resellers are excluded. Revenues are generated through both online and offline sales channels and include spending by consumers (B2C), enterprises (B2B) as well as governments (B2G).

Key players in this market include Microsoft (Visual Studio), Eclipse, IntelliJ IDEA, NetBeans, and Xcode.

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Application development software, such as Simplifier, Salesforce Platform, and Microsoft Visual Studio
Application and infrastructure middleware, such as Oracle Fusion Middleware, IBM WebSphere Application Server, and Microsoft BizTalk Server
Data management software, such as AWS, SAP Master Data Governance, and SQL Server Integration Service
Application platforms, such as Zoho Creator, Quickbase, and Salesforce Platform
Platform as a service (PaaS), such as Microsoft Azura, Google Cloud, and Engine Yard

Collaboration software, such as Google, Slack, and Zoom
Business intelligence and analytic software, such as Tableau, Zoho Analytics, and IBM
Custom applications, such as Sphinx Solutions, CHI Software, and Intellectsoft

The Application Development Software market in Serbia has been steadily growing in recent years, with an increasing number of businesses and organizations turning to technology to improve their operations and reach new customers.

Customer preferences: Serbian businesses and organizations are increasingly looking for software solutions that can help them streamline their operations and increase efficiency. This has led to a growing demand for application development software that can be customized to meet the specific needs of each business or organization. Additionally, there is a growing interest in cloud-based solutions that offer greater flexibility and scalability.

Trends in the market: One of the key trends in the Application Development Software market in Serbia is the growing popularity of low-code and no-code development platforms. These platforms allow businesses and organizations to develop custom software solutions without the need for extensive coding knowledge or expertise. This has made it easier for smaller businesses and organizations to take advantage of technology to improve their operations.Another trend in the market is the increasing use of mobile applications. With more and more people using smartphones and tablets to access information and services, businesses and organizations are looking for ways to reach their customers through mobile channels. This has led to a growing demand for mobile application development software that can help businesses and organizations create custom mobile applications.

Local special circumstances: One of the challenges facing the Application Development Software market in Serbia is the relatively small size of the market. While there is a growing demand for technology solutions among businesses and organizations, the market is still relatively small compared to other countries in the region. This can make it difficult for software developers to achieve economies of scale and compete with larger, more established players in the market.

Underlying macroeconomic factors: Serbia's economy has been growing steadily in recent years, with a focus on attracting foreign investment and developing key industries such as information technology. This has created a favorable environment for the development of the Application Development Software market, as businesses and organizations look for ways to improve their operations and take advantage of new technologies. Additionally, Serbia's relatively low labor costs and educated workforce make it an attractive location for software development companies looking to expand their operations.

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.

This report presents a comprehensive analysis and additional information on the Technology market, in a PDF format.

Imagine a world without the apps you use daily, the games you enjoy, or the websites you rely on. Software development is the invisible hand behind this digital magic, transforming ideas into the tools that shape our lives. Software development is the process of creating, designing, deploying, and supporting software. It includes all the computer activities between the software's conception and final manifestation.

These activities are planned and put into stages in a logical order, a process known as the software development life cycle (SDLC) or software development. The SDLC often includes six stages: requirement analysis, design, development, testing, implementation, documentation, and evolution. Programming languages such as JavaScript and C++ are used to create software, with JavaScript being the most popular programming language in 2023 and used by roughly 65 percent of software developers.