Creative Software - Australia | Statista Market Forecast

The Creative Software market in Australia is anticipated to witness a remarkable growth in revenue, projected to reach AUD US$160.80m by 2024.
This positive trend is expected to continue with an annual growth rate (CAGR 2024-2029) of 1.49%, leading to a market volume of AUD US$173.20m by 2029.
When compared globally, United States is predicted to generate the highest revenue, estimated at US$4.93bn in 2024.
Australia's creative software market is thriving, with a growing demand for innovative tools and platforms among local designers and content creators.

Definition:

The Creative Software market covers software applications designed to support tasks such as graphic design, video editing, 3D modeling, music composition, and photo editing and are used for content creation, design, and media production.

Products in the Creative 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.

Additional Information:

The Creative Software market comprises revenue and revenue growth 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).

Key players in this market include Adobe and Corel.

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Sound & video recording software, such as OBS Studio, Camtasia, and Riverside
Image & video editing software, such as Adobe Premiere Pro, DaVinci Resolve, and Final Cut Pro

Free-of-charge software, such as Airtable, Anaplan, and BlackLine
Custom applications, such as Sphinx Solutions, CHI Software, and Intellectsoft

The demand for creative software in Australia has been on the rise in recent years, driven by several factors that have contributed to the growth of the market.

Customer preferences: Australian customers have shown a strong preference for creative software that is easy to use and offers a wide range of features. They also value software that is compatible with multiple devices and platforms, allowing them to work on projects seamlessly across different devices.

Trends in the market: One of the key trends in the Australian creative software market is the increasing adoption of cloud-based software. This trend has been driven by the growing need for remote collaboration and file sharing, as well as the convenience and flexibility offered by cloud-based solutions.Another trend in the market is the increasing focus on mobile devices, with many software providers offering mobile apps that allow users to work on projects on the go. This trend has been driven by the growing popularity of mobile devices in Australia, as well as the increasing demand for software that is compatible with multiple devices.

Local special circumstances: One of the unique factors that have contributed to the growth of the creative software market in Australia is the country's strong creative industry. Australia has a vibrant creative industry, with many artists, designers, and other creative professionals working across various fields. This has created a strong demand for software that can help these professionals to create and collaborate on projects.

Underlying macroeconomic factors: The growth of the creative software market in Australia has also been supported by several underlying macroeconomic factors. These include the country's strong economic growth, which has led to increased investment in technology and innovation, as well as the growing demand for digital solutions across various industries. Additionally, the country's strong education system has helped to create a skilled workforce that is well-equipped to work with creative software.

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.

This report presents a comprehensive analysis and additional information on the Technology market, in a PDF format.

Imagine a world without the apps you use daily, the games you enjoy, or the websites you rely on. Software development is the invisible hand behind this digital magic, transforming ideas into the tools that shape our lives. Software development is the process of creating, designing, deploying, and supporting software. It includes all the computer activities between the software's conception and final manifestation.

These activities are planned and put into stages in a logical order, a process known as the software development life cycle (SDLC) or software development. The SDLC often includes six stages: requirement analysis, design, development, testing, implementation, documentation, and evolution. Programming languages such as JavaScript and C++ are used to create software, with JavaScript being the most popular programming language in 2023 and used by roughly 65 percent of software developers.