Application Development Software - Belgium

Belgium

Revenue in the Application Development Software market is projected to reach US$0.94bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 4.48%, resulting in a market volume of US$1.12bn by 2028.
In global comparison, most revenue will be generated in the United States (US$91,020.00m in 2024).

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

Market

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Analyst Opinion

The Application Development Software market in Belgium has been experiencing steady growth in recent years.

Customer preferences: Belgian customers have shown a preference for software development tools that are easy to use and offer a wide range of features. They also value software that is compatible with multiple platforms and devices. Additionally, there is a growing demand for cloud-based software development tools, as more companies in Belgium are adopting cloud computing technologies.

Trends in the market: One of the key trends in the Application Development Software market in Belgium is the increasing adoption of low-code and no-code development platforms. These platforms allow developers to create applications quickly and easily, without needing to write extensive amounts of code. Another trend is the growing popularity of DevOps practices, which emphasize collaboration and communication between developers and IT operations professionals. DevOps tools are becoming increasingly important in the Application Development Software market in Belgium.

Local special circumstances: Belgium has a highly skilled workforce, with a large number of software developers and IT professionals. This has led to the development of a thriving technology sector, with many innovative startups and established companies operating in the country. Additionally, Belgium has a strong tradition of innovation, with a number of world-renowned universities and research institutions.

Underlying macroeconomic factors: Belgium has a stable and prosperous economy, with a high standard of living and a strong focus on innovation and technology. The country has a well-developed infrastructure, including a highly advanced telecommunications network and a large number of data centers. Additionally, Belgium is strategically located in the heart of Europe, making it an attractive location for companies looking to do business in the region. These factors have contributed to the growth of the Application Development Software market in Belgium.

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.