Application Development Software - Europe

Europe

The Application Development Software market in Europe is forecasted to witness a significant increase in revenue, with projections indicating a staggering amount of €37.44bn by the year 2024.
This growth is expected to continue at a steady pace, with an estimated compound annual growth rate (CAGR 2024-2029) of 6.38%.
As a result, the market volume is anticipated to reach €51.01bn by 2029.
When compared on a global scale, it is noteworthy that United States is predicted to generate the highest revenue in the Application Development Software market, with an impressive figure of €84,380.00m in 2024.
In Europe, Germany leads the way in Application Development Software with its advanced technology and strong focus on innovation.

Key regions: United Kingdom, United States, Australia, France, Germany

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Analyst Opinion

The demand for application development software in Europe has been on the rise in recent years.

Customer preferences: Customers in Europe are increasingly looking for software that can help them develop applications that are compatible with multiple platforms. This is because there is a growing trend towards the use of mobile devices, which has led to an increase in demand for mobile applications. Additionally, customers are also looking for software that is easy to use and can help them develop applications quickly.

Trends in the market: Germany is one of the largest markets for application development software in Europe. The country has a large number of software development companies that are constantly looking for ways to improve their software development processes. As a result, there is a high demand for software that can help these companies develop applications quickly and efficiently.Another trend in the market is the increasing use of cloud-based application development software. Cloud-based software allows developers to access their development tools from anywhere, which makes it easier for them to collaborate on projects. Additionally, cloud-based software is often more affordable than traditional software, which makes it an attractive option for small and medium-sized businesses.

Local special circumstances: In the United Kingdom, Brexit has had an impact on the application development software market. Many companies are uncertain about the future of the UK economy, which has led to a decrease in investment in software development. However, there are still many companies in the UK that are investing in software development, particularly in the financial services sector.

Underlying macroeconomic factors: One of the underlying macroeconomic factors that is driving the growth of the application development software market in Europe is the increasing use of mobile devices. As more people use mobile devices to access the internet and perform daily tasks, there is a growing demand for mobile applications. Additionally, the rise of the gig economy has led to an increase in demand for software that can help freelancers and independent contractors develop applications quickly and efficiently.Another macroeconomic factor that is driving the growth of the market is the increasing adoption of cloud computing. Cloud computing allows companies to access their software development tools from anywhere, which makes it easier for them to collaborate on projects and share resources. Additionally, cloud-based software is often more affordable than traditional software, which makes it an attractive option for small and medium-sized businesses.

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.