Application Development Software - Tanzania

Tanzania

The Application Development Software market in Tanzania is predicted to achieve a revenue of US$54.05m in 2024.
This market segment is anticipated to display a compound annual growth rate (CAGR 2024-2029) of 10.80%, leading to a market volume of US$90.26m by 2029.
When compared globally, United States is projected to generate the highest revenue in this market, reaching US$91,950.00m in 2024.
In Tanzania, there is a growing demand for application development software as businesses strive to digitalize their operations and improve efficiency.

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

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Analyst Opinion

The Application Development Software market in Tanzania has been experiencing steady growth in recent years.

Customer preferences: Tanzania, like many other countries, has seen a rise in demand for mobile applications. This has led to an increase in the use of application development software, as businesses seek to create custom applications to meet the needs of their customers. Additionally, there has been a growing interest in cloud-based application development software, as it allows for easier collaboration and remote work.

Trends in the market: One trend that has been observed in the Tanzanian market is the adoption of low-code/no-code application development platforms. These platforms allow businesses to create applications without extensive coding knowledge, which has made application development more accessible to smaller businesses and individuals. Another trend is the increasing use of open-source application development software, which is often free and can be customized to meet specific needs.

Local special circumstances: Tanzania has a relatively young population, with a median age of 18.5 years. This has led to a high demand for technology and digital services, including application development software. Additionally, the country has a growing startup ecosystem, with many young entrepreneurs seeking to create innovative solutions to local problems. This has created a need for affordable and accessible application development software.

Underlying macroeconomic factors: Tanzania has experienced steady economic growth in recent years, with a focus on expanding the technology sector. The government has invested in infrastructure development and initiatives to promote digital literacy, which has created a favorable environment for the growth of the application development software market. Additionally, the country has a relatively stable political environment, which has encouraged foreign investment and business growth.

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.