Creative Software - Mauritius | Statista Market Forecast

The Creative Software market in Mauritius is estimated to experience a significant growth in revenue, with projections indicating that it will reach US$2.28m by the year 2024.
Furthermore, it is expected to exhibit a steady annual growth rate (CAGR 2024-2029) of 4.47%, ultimately resulting in a market volume of US$2.84m by 2029.
When compared to other countries worldwide, United States is anticipated to generate the highest revenue in this market segment, with an estimated value of US$4.93bn in 2024.
Mauritius is experiencing a surge in demand for creative software, as the country's growing digital economy fuels the need for innovative design and content creation tools.

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 Mauritius is experiencing a steady growth in recent years.

Customer preferences: Mauritius has a growing number of small and medium-sized enterprises (SMEs) that are increasingly adopting technology to streamline their business operations. As a result, there is a growing demand for creative software that can help them with tasks such as graphic design, video editing, and website development. Additionally, the younger generation in Mauritius is showing a greater interest in creative fields such as design and media, which is also driving the demand for creative software.

Trends in the market: One of the major trends in the Creative Software market in Mauritius is the shift towards cloud-based software. Cloud-based software is becoming increasingly popular due to its flexibility, scalability, and cost-effectiveness. This trend is expected to continue in the coming years as more businesses in Mauritius adopt cloud-based solutions. Another trend is the increasing use of mobile devices for creative work. With the rise of smartphones and tablets, there is a growing demand for creative software that can be used on these devices.

Local special circumstances: Mauritius is a small island nation with a relatively small market for creative software. As a result, international software vendors dominate the market. However, there are a few local software companies that are gaining traction in the market by offering specialized software solutions tailored to the needs of local businesses.

Underlying macroeconomic factors: Mauritius has a stable and growing economy, which is driving the growth of the Creative Software market. The government of Mauritius has been actively promoting the growth of the technology sector, which has led to an increase in the number of technology companies in the country. Additionally, Mauritius has a young and tech-savvy population, which is driving the demand for creative software. The country's strategic location in the Indian Ocean also makes it an attractive destination for international businesses looking to expand into Africa and Asia.

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.

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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.