Application Development Software - Israel

Israel

Revenue in the Application Development Software market is projected to reach US$0.92bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 6.64%, resulting in a market volume of US$1.19bn 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

Israel, a small country in the Middle East, has a thriving technology industry with a focus on innovation and development. The Application Development Software market in Israel is no exception, with a growing demand for software solutions to meet the needs of businesses and consumers.

Customer preferences: Israeli customers are known for their high standards and expectations when it comes to technology products and services. They prioritize software solutions that are reliable, secure, and user-friendly. Additionally, there is a growing demand for mobile applications that can be used on-the-go and integrate with other software platforms.

Trends in the market: One of the key trends in the Application Development Software market in Israel is the adoption of cloud-based solutions. This allows businesses to access software applications from anywhere, while also reducing the need for expensive hardware and maintenance costs. Another trend is the increasing use of artificial intelligence and machine learning in software development, which can help to automate processes and improve efficiency.

Local special circumstances: Israel has a highly skilled workforce, with a large number of software developers and engineers. This has led to a competitive market, with many startups and established companies competing for talent and market share. Additionally, Israel has a strong focus on cybersecurity, which has led to the development of secure software solutions that can be used in a variety of industries.

Underlying macroeconomic factors: Israel has a strong economy with a focus on technology and innovation. The government has invested heavily in the technology industry, providing funding and support for startups and established companies alike. Additionally, Israel has a highly educated population, with a focus on science and technology education. This has led to a culture of innovation and entrepreneurship, which has helped to drive the growth of the Application Development Software market in Israel.

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.