Creative Software - Saudi Arabia | Statista Market Forecast

The Creative Software market in Saudi Arabia is expected to witness a substantial growth in revenue, reaching US$20.41m in 2024.
Furthermore, this market segment is projected to exhibit a steady annual growth rate (CAGR 2024-2029) of 2.49%, culminating in a market volume of US$23.08m by 2029.
When compared globally, it is noteworthy that United States will generate the highest revenue in this market segment, with an estimated US$4.93bn in 2024.
Saudi Arabia is experiencing a surge in demand for creative software, driven by the growing number of young entrepreneurs in the country's burgeoning creative industries.

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 Saudi Arabia is experiencing a surge in demand due to various factors.

Customer preferences: Customers in Saudi Arabia are increasingly seeking out creative software solutions to enhance their digital content. The rise of social media influencers and content creators has led to a need for more advanced and sophisticated software tools. Additionally, the pandemic has resulted in a shift towards remote work and virtual events, further increasing the demand for creative software.

Trends in the market: One of the major trends in the Creative Software market in Saudi Arabia is the adoption of cloud-based software. This allows for greater flexibility and accessibility, as users can access the software from anywhere with an internet connection. Another trend is the integration of artificial intelligence and machine learning, which allows for more efficient and personalized content creation.

Local special circumstances: Saudi Arabia has a young and tech-savvy population, with a high rate of smartphone and internet usage. This has led to a growing interest in digital content creation, particularly among the younger generation. Additionally, the government has been investing heavily in the technology sector, which has created a favorable environment for the growth of the Creative Software market.

Underlying macroeconomic factors: The Saudi Arabian economy is heavily reliant on the oil industry, which has been experiencing volatility in recent years. As a result, the government has been seeking to diversify the economy and promote the growth of non-oil sectors, such as technology. This has led to increased investment in the technology sector and the creation of initiatives to support startups and entrepreneurs. The government's Vision 2030 plan also includes a focus on developing the digital economy, which is expected to further drive the growth of the Creative Software market.

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.