Market Insights Technology Software Productivity Software

Creative Software - Ethiopia

Ethiopia

Ethiopia is expected to witness a significant increase in revenue within the Creative Software market, with projections indicating a rise to US$7.10m by 2024.
This growth is anticipated to continue at a compound annual growth rate (CAGR 2024-2029) of 10.34%, leading to a market volume of US$11.61m by 2029.
In comparison to other countries, United States is projected to generate the highest revenue, reaching an impressive US$4,927.00m in 2024.
This showcases the dominance of the US market within the Creative Software market.
Ethiopia is experiencing a surge in demand for creative software, driven by a growing tech industry and a rising number of young, innovative entrepreneurs.

Key regions: Canada, United Kingdom, France, South Korea, Germany

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Analyst Opinion

With the increasing adoption of technology and digitalization in Ethiopia, the Creative Software market has seen significant growth in recent years.

Customer preferences: As the youth population in Ethiopia continues to grow, there is a high demand for creative software among students and young professionals. Additionally, the rise of social media influencers and content creators has also contributed to the demand for creative software.

Trends in the market: The Creative Software market in Ethiopia is dominated by international software providers such as Adobe, Corel, and Autodesk. However, there has been a rise in local software development companies that offer affordable and localized software solutions. These local companies are gaining popularity among small and medium-sized businesses that require cost-effective and easy-to-use software.

Local special circumstances: Ethiopia's government has been actively promoting the growth of the technology sector through initiatives such as the Digital Ethiopia 2025 strategy. This strategy aims to increase the adoption of digital technology across all sectors of the economy and promote the growth of local tech companies.

Underlying macroeconomic factors: Ethiopia's economy has been growing steadily in recent years, with a focus on industrialization and improving infrastructure. This growth has led to an increase in disposable income and a rise in the number of small and medium-sized businesses. As a result, there is a growing demand for creative software to support business operations and marketing activities. Additionally, the growth of the education sector has also contributed to the demand for creative software among students and educators.

Methodology

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.