Application Development Software - Croatia

Croatia

Revenue in the Application Development Software market is projected to reach US$79.08m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 6.31%, resulting in a market volume of US$101.00m 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

Region comparison

Currency

Analyst Opinion

The demand for Application Development Software in Croatia has been on the rise in recent years.

Customer preferences: Croatian businesses are increasingly adopting digital solutions to streamline their operations and improve efficiency. This has led to a growing demand for Application Development Software that can help businesses create custom software solutions tailored to their specific needs. Additionally, with the rise of mobile devices, there has been an increased demand for mobile application development software.

Trends in the market: One of the major trends in the Croatian Application Development Software market is the shift towards cloud-based solutions. Cloud-based solutions offer several advantages over traditional on-premise solutions, including lower costs, greater scalability, and easier maintenance. As a result, many Croatian businesses are now opting for cloud-based Application Development Software.Another trend in the market is the increasing use of low-code and no-code development platforms. These platforms allow businesses to create custom software solutions without requiring extensive programming knowledge. This has made it easier for businesses to create custom software solutions that meet their specific needs.

Local special circumstances: Croatia's small business sector is a major driver of demand for Application Development Software. Small businesses account for a significant portion of the country's economy and are increasingly turning to digital solutions to improve their operations. Additionally, Croatia has a growing startup ecosystem, with many new businesses looking for cost-effective ways to develop custom software solutions.

Underlying macroeconomic factors: Croatia's economy has been growing steadily in recent years, with GDP growth averaging around 3% per year. This has led to increased investment in the country's digital infrastructure, including the development of high-speed internet networks and the expansion of cloud-based services. Additionally, Croatia's membership in the European Union has helped to attract foreign investment and promote economic growth.

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.