System Infrastructure Software - Hungary

Hungary

Hungary is projected to see a substantial increase in revenue within the System Infrastructure Software market.
By 2024, the revenue is expected to reach US$201.50m, with an annual growth rate (CAGR 2024-2029) of 2.71%.
This growth is anticipated to lead to a market volume of US$230.30m by 2029.
When compared globally, United States is expected to generate the highest revenue within this market segment, with a projected revenue of US$80,080.00m in 2024.
Hungary is experiencing a growing demand for system infrastructure software, driven by the country's thriving software industry and increasing digitalization efforts.

Key regions: France, Australia, China, Japan, Canada

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Currency

Analyst Opinion

The System Infrastructure Software market in Hungary has been experiencing steady growth in recent years.

Customer preferences: Hungarian customers have been showing a preference for cloud-based solutions, which offer greater flexibility and cost savings compared to traditional on-premise software. This trend is in line with global market preferences, as more businesses shift towards cloud-based infrastructure.

Trends in the market: The market for System Infrastructure Software in Hungary is being driven by the increasing demand for automation and digitalization of business processes. This has led to a rise in the adoption of software solutions that enable businesses to manage their IT infrastructure more efficiently. Additionally, the growing popularity of Software-as-a-Service (SaaS) models has opened up new opportunities for vendors in the market.

Local special circumstances: Hungary has a strong and growing technology sector, with a number of successful startups and established companies operating in the country. This has created a favorable environment for the development and adoption of new software solutions. Additionally, Hungary's central location in Europe makes it an attractive location for businesses looking to expand their operations in the region.

Underlying macroeconomic factors: Hungary's economy has been growing steadily in recent years, with a focus on innovation and technology as key drivers of growth. The government has implemented policies to support the growth of the technology sector, including tax incentives for research and development activities. This has created a favorable environment for businesses operating in the System Infrastructure Software market. Additionally, Hungary's membership in the European Union provides access to a large market of potential customers and partners.

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.