Application Development Software - Chile

Chile

Revenue in the Application Development Software market is projected to reach US$0.40bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 6.26%, resulting in a market volume of US$0.51bn 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

Region

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Currency

Analyst Opinion

The Application Development Software market in Chile has been experiencing significant growth in recent years.

Customer preferences: Chilean customers are increasingly demanding software applications that can be used on multiple devices, including mobile phones, tablets, and laptops. They also prefer software that is easy to use, efficient, and secure. In addition, there is a growing demand for cloud-based software solutions that can be accessed from anywhere.

Trends in the market: One of the main trends in the Application Development Software market in Chile is the increasing use of low-code and no-code platforms. These platforms allow developers to create applications quickly and easily, without the need for extensive coding knowledge. Another trend is the growing importance of artificial intelligence (AI) and machine learning (ML) in software development. AI and ML can help developers create applications that are more intelligent, efficient, and personalized.

Local special circumstances: Chile is a country with a rapidly growing technology sector, and the government has been actively promoting the development of the industry. In addition, Chile has a large pool of talented software developers, many of whom have received training in top universities around the world. This has helped to create a thriving software development ecosystem in the country.

Underlying macroeconomic factors: Chile has a stable and growing economy, with a strong focus on innovation and technology. The government has implemented policies to support the growth of the technology sector, including tax incentives for companies that invest in research and development. In addition, Chile has a highly educated workforce, with a large number of graduates in science, technology, engineering, and mathematics (STEM) fields. These factors have helped to create a favorable environment for the growth of the Application Development Software market in Chile.

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.