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Mon - Fri, 10:00am - 6:00pm (JST)
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Mon - Fri, 9am - 6pm (EST)
Key regions: United States, Canada, Germany, China, Japan
Croatia, a country in Southeast Europe, has been experiencing a steady growth in its software market in recent years.
Customer preferences: Croatia's software market has been driven by the growing demand for cloud-based software solutions. Businesses are increasingly adopting cloud-based software solutions due to their scalability, flexibility, and cost-effectiveness. Additionally, the increasing adoption of mobile devices has led to a rise in demand for mobile applications. Croatian consumers are increasingly relying on mobile applications for various services such as food delivery, ride-hailing, and online shopping.
Trends in the market: One of the key trends in Croatia's software market is the growth of the cybersecurity software segment. With the increasing number of cyber threats, businesses are investing more in cybersecurity software to protect their networks and systems. Another trend is the increasing adoption of artificial intelligence (AI) and machine learning (ML) technologies. Croatian businesses are using AI and ML to improve their operations, enhance customer experiences, and gain a competitive advantage.
Local special circumstances: Croatia's software market is relatively small compared to other European countries. However, the country has a highly skilled workforce in the IT sector. The Croatian government has also been implementing policies to support the growth of the software industry. For example, the government has introduced tax incentives for software development companies and has invested in the development of IT infrastructure.
Underlying macroeconomic factors: Croatia's software market growth can be attributed to its improving macroeconomic conditions. In recent years, the country has experienced a stable economic growth rate, low inflation, and decreasing unemployment rates. Additionally, Croatia's accession to the European Union has opened up new opportunities for businesses in the country. The country has also been investing in digital infrastructure, which has created a favorable environment for the growth of the software industry.
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.Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)