Software - Montenegro

Montenegro

In 2025, the projected revenue in the Software market for Montenegro is estimated to reach US$87.94m.
It is worth noting that the Enterprise Software segment holds the dominant position in the market, with a projected market volume of US$36.82m in the same year.
Looking ahead, the revenue is expected to exhibit an annual growth rate (CAGR 2025-2029) of 5.73%, resulting in a market volume of US$109.90m by 2029.
When compared globally, it is evident that United States will generate the highest revenue in the Software market, reaching US$379.30bn in 2025.
Despite being a small country, Montenegro has seen a notable rise in software development companies, establishing it as a growing player in the global software market.

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

Definition:

In general, software is defined as a set of instructions written as programming code to execute specific tasks on a computing device. The Software market covers a wide range of software products and solutions that are publicly sold by various companies. Most software solutions in this market are designed for professional use, but some can also be suitable for personal use. They can also range from basic productivity tools such as word processors and spreadsheets to complex software solutions such as project management tools, graphic design software, and enterprise resource planning software.

Products in the Software market can be obtained in two ways: as on-premises software that is sold via a transactional license or a subscription and as cloud-based software (software as a service/ SaaS) that is most frequently sold as a subscription.

Structure:

The market contains four markets that are based on the functionality of the software:

Productivity Software refers to application software that supports activities such as producing documents, spreadsheets, drawings, and presentations. This market includes Administrative Software, Collaboration Software, Office Software, Creative Software, and Construction and Design Software.
Enterprise Software refers to all software that supports essential large-scale business activities such as enterprise resource management, customer management, and supply chain activities. This market includes Enterprise Resource Planning Software, Customer Relationship Management Software, Business Intelligence Software, Supply Chain Management Software, Content Management Software, and Other Enterprise Software.
Application Development Software refers to software and tools that help the overall application development process.
System Infrastructure Software refers to software that provides the base framework for operating and managing organizational processes and services on hardware devices.

Additional Information:

The Software market comprises revenue and revenue change as the key performance indicators. Only revenues that are generated by primary vendors at the manufacturer price level either directly or through distribution channels (excluding value-added tax) are included, and revenues generated by resellers are excluded. Revenues are generated through both online and offline sales channels and include spending by consumers (B2C), enterprises (B2B) as well as governments (B2G). Detailed definitions of each market can be found on the respective page where the market data is displayed.

Key players in this market include Microsoft, Adobe, SAP, Oracle, and Salesforce.

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Market

Region

Region comparison

Currency

Analyst Opinion

Montenegro, a small country located in Southeast Europe, has been experiencing a steady growth in its software market in recent years.

Customer preferences: Montenegro's software market is predominantly driven by the demand for enterprise software solutions. The country's small and medium-sized enterprises (SMEs) are increasingly investing in software to streamline their business processes and improve efficiency. Additionally, there is a growing demand for software in the education sector, as schools and universities are adopting e-learning platforms and other digital tools to enhance their teaching methods.

Trends in the market: One of the key trends in Montenegro's software market is the adoption of cloud-based solutions. SMEs are increasingly moving away from traditional on-premise software and opting for cloud-based solutions, which offer greater flexibility and scalability. Another trend is the growing popularity of open-source software, which is becoming increasingly prevalent in the country's software development community. This is driven by the desire to reduce costs and increase collaboration among developers.

Local special circumstances: Montenegro's software market is largely driven by the country's tourism industry. The sector accounts for a significant portion of the country's GDP and has been growing steadily over the past few years. As a result, there is a growing demand for software solutions that can help tourism businesses manage their operations more efficiently. This includes software for hotel and restaurant management, as well as solutions for tour operators and travel agencies.

Underlying macroeconomic factors: Montenegro's software market is benefiting from the country's overall economic growth. The country has been experiencing a steady increase in foreign investment, particularly in the tourism sector. This has led to a growing demand for software solutions that can help businesses in the sector manage their operations more efficiently. Additionally, the government has been actively promoting Montenegro as an attractive destination for foreign investors, which is helping to drive growth in the software market.

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.