Application Development Software - South Africa

South Africa

In South Africa, the revenue in the Application Development Software market is projected to reach US$0.67bn in 2024.
It is expected to show an annual growth rate (CAGR 2024-2029) of 5.12%, resulting in a market volume of US$0.86bn by 2029.
When compared globally, United States is expected to generate the most revenue, with US$91,950.00m in 2024.
South Africa's application development software market is witnessing a surge in demand as businesses seek to digitize their operations and enhance productivity.

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

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Analyst Opinion

The demand for Application Development Software in South Africa is on the rise due to various factors.

Customer preferences: South African customers are shifting towards digitalization and automation, which has led to an increase in demand for Application Development Software. The need for customized applications that cater to specific business requirements is also driving the growth of this market.

Trends in the market: The market for Application Development Software in South Africa is witnessing a trend towards low-code and no-code platforms. These platforms enable users to develop applications with minimal coding knowledge, reducing the time and cost involved in the development process. Another trend is the adoption of cloud-based solutions, which offer scalability and flexibility to businesses.

Local special circumstances: South Africa has a large and growing small and medium-sized enterprise (SME) sector, which is a major contributor to the country's economy. These businesses are increasingly adopting digital solutions to streamline their operations and enhance their competitiveness. The government's focus on promoting entrepreneurship and innovation through initiatives such as the National Development Plan is also driving the growth of the Application Development Software market.

Underlying macroeconomic factors: South Africa's economy has been facing challenges in recent years, including high unemployment and slow economic growth. However, the country's digital economy has been growing rapidly, driven by factors such as increased internet penetration and smartphone adoption. This has created opportunities for businesses in the Application Development Software market to cater to the growing demand for digital solutions. Additionally, the government's investment in digital infrastructure, such as the rollout of 5G networks, is expected to further boost the growth of this market.

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.