Creative Software - GCC | Statista Market Forecast

In 2024, the Creative Software market in the GCC is expected to generate revenue of US$57.76m.
Looking ahead, the market is projected to grow at an annual growth rate (CAGR 2024-2029) of 2.37%, reaching a market volume of US$64.93m by 2029.
When compared globally, United States is anticipated to generate the highest revenue in 2024, amounting to US$4.93bn.
The GCC region is witnessing a surge in demand for creative software as the growing creative industry seeks innovative tools for design and content creation.

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 GCC has been experiencing steady growth in recent years, driven by a combination of factors including increasing demand for digital content and the growth of the gaming industry.

Customer preferences: Customers in GCC countries have shown a preference for creative software that is both user-friendly and feature-rich. They are increasingly looking for software that can help them create high-quality content quickly and easily, without requiring extensive technical knowledge. This has led to a rise in the popularity of software tools that offer a range of templates and pre-built assets, as well as those that provide intuitive interfaces and simplified workflows.

Trends in the market: One of the key trends in the Creative Software market in GCC is the rise of mobile and cloud-based solutions. With more people working remotely and using mobile devices to access content, there is a growing demand for software that can be used on-the-go and from anywhere. This has led to a rise in the popularity of cloud-based creative software tools that offer seamless collaboration and easy access to files from any device.Another trend in the market is the increasing focus on AI and machine learning. Creative software tools that incorporate AI and machine learning algorithms are becoming more popular, as they can help automate repetitive tasks and suggest improvements to content based on user preferences. This has led to a rise in the popularity of software tools that offer AI-powered features such as image recognition, natural language processing, and predictive analytics.

Local special circumstances: One of the unique challenges facing the Creative Software market in GCC is the need to cater to a diverse range of languages and cultures. With a large expat population and a mix of Arabic and English-speaking customers, software developers need to ensure that their products are localized and accessible to a wide range of users. This has led to a rise in the popularity of software tools that offer multilingual support and localization features.

Underlying macroeconomic factors: The growth of the Creative Software market in GCC is being driven by a combination of factors including rising disposable incomes, increasing digitalization, and the growth of the gaming and entertainment industries. As more people in GCC countries gain access to digital devices and services, there is a growing demand for software tools that can help them create and share high-quality content. Additionally, the growth of the gaming industry in the region is driving demand for software tools that can help developers create immersive gaming experiences.

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.