Software - Egypt

  • Egypt
  • Egypt is expected to see a significant growth in the Software market, with projected revenue reaching US$468.60m in 2024.
  • The dominance of Enterprise Software is evident, as it is projected to have a market volume of US$207.30m in the same year.
  • Furthermore, the market is expected to experience a steady annual growth rate (CAGR 2024-2029) of 8.41%, resulting in a market volume of US$701.70m by 2029.
  • In comparison to other countries worldwide, United States is anticipated to generate the highest revenue, with an estimated amount of US$363.40bn in 2024.
  • Egypt's software market is experiencing rapid growth, driven by a young and tech-savvy population eager for digital solutions.

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

 
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Analyst Opinion

Egypt, located in North Africa, is known for its rich history and cultural heritage. The country has a growing economy, which is reflected in the development of its software market.

Customer preferences:
Egypt has a young population with a high percentage of internet users. This has led to an increase in demand for software products and services, especially in the areas of e-commerce, mobile apps, and social media. Additionally, there is a growing interest in cloud computing, artificial intelligence, and blockchain technology.

Trends in the market:
The software market in Egypt has been growing steadily in recent years, with a focus on developing local talent and promoting entrepreneurship. Startups have been emerging in the country, with a particular focus on fintech and e-commerce. The government has also been investing in technology infrastructure, which has helped to create a more supportive environment for software companies.

Local special circumstances:
Egypt has a unique location that makes it a gateway between Africa, Asia, and Europe. This has helped to create a diverse and multicultural environment that is conducive to innovation. Additionally, the country has a well-established education system, with a focus on science and technology. This has helped to create a pool of talented software developers and engineers.

Underlying macroeconomic factors:
Egypt has a growing economy, which is expected to continue in the coming years. The government has been implementing economic reforms aimed at attracting foreign investment and promoting entrepreneurship. Additionally, the country has a large and young population, which is expected to drive demand for software products and services. The government has also been investing in technology infrastructure, which is expected to create more opportunities for software companies.

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
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