Creative Software - Estonia | Statista Market Forecast

The projected revenue in Estonia's Creative Software market is expected to reach US$1.50m in 2024.
It is anticipated that the revenue will demonstrate an annual growth rate of 1.73% from 2024 to 2029, resulting in a market volume of US$1.64m by 2029.
In comparison to other countries, United States is projected to generate the highest revenue, amounting to US$4.93bn in 2024.
Estonia's thriving tech ecosystem and innovative approach to digital solutions have positioned it as a hub for creative software development.

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

Estonia, a small country in Northern Europe, has been experiencing a steady growth in the Creative Software market in recent years.

Customer preferences: Estonian customers have shown a preference for Creative Software that is user-friendly and requires minimal technical expertise. They also value affordability and are willing to pay for software that offers good value for money. Additionally, customers in Estonia tend to prefer software that is compatible with multiple devices and platforms.

Trends in the market: One trend that has been observed in the Creative Software market in Estonia is the increasing demand for cloud-based solutions. This trend is driven by the need for flexibility and mobility, as well as the growing popularity of remote work. Another trend is the rise of mobile applications, as more and more customers in Estonia are using smartphones and tablets to access creative software.

Local special circumstances: Estonia has a thriving startup ecosystem, which has contributed to the growth of the Creative Software market. Many startups in Estonia are focused on developing innovative software solutions, and this has led to a culture of innovation and experimentation in the market. Additionally, Estonia has a highly skilled workforce with a strong background in technology, which has helped to drive the development of the Creative Software market.

Underlying macroeconomic factors: Estonia has a stable and growing economy, which has created a favorable environment for the Creative Software market to thrive. The country has a high level of digitalization, with a well-developed IT infrastructure and a high rate of internet penetration. This has helped to create a conducive environment for the development and adoption of creative software solutions. Furthermore, Estonia is a member of the European Union, which has provided access to a large market and a supportive regulatory framework.

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.