Creative Software - Bahrain | Statista Market Forecast

The revenue forecast for the Creative Software market in Bahrain is estimated to reach US$1.60m units by 2024.
This projection indicates an anticipated annual growth rate (CAGR 2024-2029) of 1.66%, leading to a market volume of US$1.74m units by 2029.
When compared to other countries worldwide, United States is expected to generate the highest revenue, with an estimated value of US$4.93bn units in 2024.
Bahrain's flourishing tech ecosystem and government support have fostered a surge in demand for creative software solutions.

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 Creative Software market in Bahrain has been experiencing steady growth in recent years.

Customer preferences: Bahrain's market for creative software is primarily driven by the demand from small and medium-sized businesses, as well as individual consumers. These customers are increasingly looking for software that is user-friendly, affordable, and can help them create high-quality content for their marketing and branding efforts. Additionally, there is a growing interest in cloud-based software solutions that offer greater flexibility and accessibility.

Trends in the market: One of the key trends in the Bahraini market for creative software is the increasing adoption of mobile applications and software. This is due to the high penetration of smartphones and tablets in the country, as well as the growing popularity of social media platforms. As a result, software developers are focusing on creating mobile-friendly and social media-integrated software that can help businesses and individuals create and share content on the go.Another trend is the rising demand for video editing software, as more businesses and individuals are using video content for marketing and communication purposes. This has led to the development of more advanced and user-friendly video editing tools that cater to the needs of both novice and professional users.

Local special circumstances: Bahrain's small size and open economy make it an attractive market for foreign software developers. As a result, there is a wide range of creative software available in the country, from global brands to local startups. This competition has led to greater innovation and affordability in the market, as well as increased awareness and adoption of creative software among businesses and individuals.

Underlying macroeconomic factors: Bahrain's economy is heavily dependent on the oil industry, which has been facing challenges in recent years due to fluctuations in global oil prices. In response, the government has been focusing on diversifying the economy and promoting entrepreneurship and innovation. This has created a favorable environment for the development and adoption of creative software, as businesses and individuals seek to differentiate themselves in a competitive market. Additionally, Bahrain's strategic location and favorable business environment have made it a hub for startups and entrepreneurs in the region, further boosting the demand for 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.