Software - Central & Western Europe

  • Central & Western Europe
  • In Central & Western Europe, the Software market is expected to experience significant growth in the coming years.
  • It is projected to reach a revenue of US$116.50bn by 2024.
  • The dominant player in this market segment is Enterprise Software , which is projected to have a market volume of US$48.65bn in 2024.
  • Looking ahead, the Software market is expected to maintain a steady growth rate.
  • With an annual growth rate (CAGR 2024-2029) of 4.43%, the market is estimated to reach a volume of US$144.70bn by 2029.
  • When comparing the Software market globally, United States is projected to generate the highest revenue.
  • In 2024, it is expected to reach a staggering US$363.40bn.
  • This highlights the strong presence of the United States in the global Software market.
  • In Central & Western Europe, Germany is leading the way in software development, with a strong emphasis on innovation and quality.

Key regions: United States, Canada, Germany, China, Japan

 
Market
 
Region
 
Region comparison
 
Currency
 

Analyst Opinion

The demand for software in Central & Western Europe has been on the rise in recent years, with several factors contributing to this trend.

Customer preferences:
The increasing adoption of cloud computing and mobile devices has led to a growing demand for software solutions that can be accessed from anywhere and on any device. Customers are also looking for software that is user-friendly and customizable to their specific needs.

Trends in the market:
Germany, France, and the UK are the largest software markets in Central & Western Europe. In Germany, the software market is dominated by enterprise software, with a focus on automation and digitalization. In France, there is a growing demand for software in the healthcare and financial sectors. The UK has a strong software industry, with a focus on fintech and e-commerce.

Local special circumstances:
Central & Western Europe is a diverse region with varying levels of technological infrastructure and digital maturity. Countries such as Germany and the UK have well-established tech industries, while others are still catching up. Additionally, there are varying levels of government support for the tech industry across the region.

Underlying macroeconomic factors:
The strong economic growth in Central & Western Europe has led to increased investment in technology and innovation. Additionally, the region's highly skilled workforce and favorable business environment have attracted tech companies from around the world. However, the ongoing uncertainty surrounding Brexit and the COVID-19 pandemic have created some challenges for the software market in the region.Overall, the software market in Central & Western Europe is expected to continue growing in the coming years, driven by increasing demand for cloud-based and mobile software solutions. However, companies operating in the region will need to navigate the unique challenges and opportunities presented by each individual country.

Methodology

Data coverage:

The data encompasses B2B, B2G, and B2C enterprises, except for the Enterprise Software segment, in which consumer (B2C) spending is not considered. Figures are based on the allocation to the country where the money was spent at manufacturer price level (excluding VAT).

Modeling approach / Market size:

Market sizes are determined through a top-down approach with a bottom-up validation, building on a specific rationale for each market segment. As a basis for evaluating markets, we use annual financial reports of the market-leading companies and reports from our primary research. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, level of digitization, GDP sector composition, and observed level of software piracy. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. 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.

Overview

  • Revenue
  • Key Players
  • Analyst Opinion
  • Global Comparison
  • Methodology
  • Key Market Indicators
Please wait

Contact

Get in touch with us. We are happy to help.
Statista Locations
Contact Meredith Alda
Meredith Alda
Sales Manager– Contact (United States)

Mon - Fri, 9am - 6pm (EST)

Contact Yolanda Mega
Yolanda Mega
Operations Manager– Contact (Asia)

Mon - Fri, 9am - 5pm (SGT)

Contact Ayana Mizuno
Ayana Mizuno
Junior Business Development Manager– Contact (Asia)

Mon - Fri, 10:00am - 6:00pm (JST)

Contact Lodovica Biagi
Lodovica Biagi
Director of Operations– Contact (Europe)

Mon - Fri, 9:30am - 5pm (GMT)

Contact Carolina Dulin
Carolina Dulin
Group Director - LATAM– Contact (Latin America)

Mon - Fri, 9am - 6pm (EST)