Application Development Software - Iran

Iran

Revenue in the Application Development Software market is projected to reach US$2.43bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 6.45%, resulting in a market volume of US$3.12bn 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

Region

Region comparison

Currency

Analyst Opinion

Iran, the second-largest country in the Middle East, has been experiencing significant growth in the technology sector over the past few years. The Application Development Software market in Iran has also been developing, and this can be attributed to several factors.

Customer preferences: Iranians have shown a growing interest in technology and software development. This interest has been fuelled by the increasing number of tech startups in the country. Additionally, there has been a rise in the number of young people enrolling in computer science and software engineering courses in universities. This has led to a growing demand for Application Development Software in the country.

Trends in the market: One of the trends in the Application Development Software market in Iran is the growing popularity of open-source software. This is due to the fact that open-source software is free to use and can be easily customized to meet the needs of businesses in Iran. Additionally, there has been a growing trend towards cloud-based software, which allows businesses to access their applications from anywhere in the world.Local Special circumstances: Iran is a country that has been under economic sanctions for many years. These sanctions have limited the country's ability to import technology and software from other countries. As a result, many Iranian businesses have had to rely on local software developers to create custom software solutions for their businesses. This has led to the growth of the Application Development Software market in Iran.

Underlying macroeconomic factors: The Iranian government has been investing heavily in the technology sector in recent years. This has led to the growth of the Application Development Software market in Iran. Additionally, the Iranian government has been encouraging foreign investment in the country's technology sector. This has led to the entry of several foreign software development companies into the Iranian market. Finally, the growing number of tech startups in the country has also contributed to the growth of the Application Development Software market in Iran.

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.