Application Development Software - Southern Asia

Southern Asia

Revenue in the Application Development Software market is projected to reach €2.93bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 13.60%, resulting in a market volume of €4.88bn by 2028.
In global comparison, most revenue will be generated in the United States (€84,400.00m in 2024).

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

Marché

Région

Comparaison de régions

Monnaie

Analyst Opinion

The demand for Application Development Software in Southern Asia is on the rise due to the increasing penetration of smartphones and the internet.

Customer preferences: Customers in Southern Asia are increasingly looking for software that can be easily integrated with their existing systems and can be accessed from anywhere. They prefer software that is user-friendly and can be customized according to their specific requirements. Additionally, customers are looking for software that is cost-effective and can provide quick solutions to their problems.

Trends in the market: India is the largest market for Application Development Software in Southern Asia. The country has a large pool of skilled IT professionals who are capable of developing software for different industries. The demand for software development is increasing in India, as more companies are looking to digitize their operations. Additionally, the Indian government has launched several initiatives to promote the growth of the IT sector, which has further increased the demand for Application Development Software.Pakistan is another country in Southern Asia that is witnessing a rise in the demand for Application Development Software. The country has a large population of young people who are tech-savvy and are looking for software that can help them in their daily lives. Additionally, Pakistan has a large number of small and medium-sized enterprises that are looking for cost-effective software solutions to improve their operations.

Local special circumstances: In Bangladesh, the demand for Application Development Software is being driven by the growth of the e-commerce industry. The country has a large population of young people who are increasingly shopping online, which has led to the growth of the e-commerce industry. As a result, there is a growing demand for software that can help e-commerce companies manage their operations more efficiently.In Sri Lanka, the demand for Application Development Software is being driven by the growth of the tourism industry. The country has a large number of tourists visiting every year, which has led to the growth of the tourism industry. As a result, there is a growing demand for software that can help hotels and other tourism-related businesses manage their operations more efficiently.

Underlying macroeconomic factors: The increasing penetration of smartphones and the internet is the key macroeconomic factor driving the growth of the Application Development Software market in Southern Asia. As more people in the region gain access to smartphones and the internet, the demand for software that can be accessed from anywhere is increasing.Additionally, the growth of the IT sector in the region is also driving the demand for Application Development Software. Southern Asia has a large pool of skilled IT professionals who are capable of developing software for different industries. As a result, more companies are looking to digitize their operations, which has led to an increase in the demand for Application Development Software.

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.