Creative Software - Serbia | Statista Market Forecast

In Serbia, the Creative Software market is forecasted to achieve a revenue of US$2.67m in 2024.
This projection anticipates a steady annual growth rate (CAGR 2024-2029) of 4.63%, leading to a market volume of US$3.35m by 2029.
When compared on a global scale, United States is expected to generate the highest revenue, amounting to US$4.93bn in 2024.
Serbia is emerging as a hub for creative software development, attracting international companies and fostering local talent.

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 Serbia has been experiencing steady growth in recent years.

Customer preferences: Serbian customers have been increasingly interested in Creative Software products due to the rise in demand for digital content creation. The country has a growing number of graphic designers, animators, and video editors who require software to create their work. Additionally, the younger generation has shown a greater interest in pursuing careers in creative fields, which has increased the demand for software that can help them develop their skills.

Trends in the market: One of the main trends in the Creative Software market in Serbia is the increased adoption of cloud-based software. This trend is driven by the need for remote collaboration and the ability to access software from anywhere. Serbian companies are also becoming more aware of the benefits of cloud-based software, such as lower costs and easier maintenance. Another trend is the growing popularity of mobile apps for creative software, which allows users to work on their projects on-the-go.

Local special circumstances: Serbia has a large pool of talented young professionals who are skilled in creative fields, such as graphic design, animation, and video editing. This has created a strong demand for Creative Software products in the country. Additionally, the cost of living in Serbia is relatively low compared to other European countries, which makes it an attractive location for businesses looking to set up operations in the region.

Underlying macroeconomic factors: Serbia has been experiencing steady economic growth in recent years, which has helped to drive the demand for Creative Software products. The country has also been working to improve its infrastructure and business environment, which has made it easier for foreign companies to invest in the country. Additionally, Serbia has a highly educated workforce, which has made it an attractive location for companies looking to set up operations in the region.

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.