Application Development Software - North America

North America

Revenue in the Application Development Software market is projected to reach US$97.79bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 5.73%, resulting in a market volume of US$122.20bn 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 Application Development Software market in North America is a highly competitive and dynamic market that is constantly evolving to meet the changing needs of customers.

Customer preferences: Customers in North America are increasingly demanding more personalized and customized software solutions that are tailored to their specific needs. This has led to the rise of low-code and no-code development platforms that allow customers to create their own applications without the need for extensive coding knowledge. Additionally, customers are also looking for software solutions that are cloud-based and offer seamless integration with other applications.

Trends in the market: One of the major trends in the North American Application Development Software market is the increasing adoption of Artificial Intelligence (AI) and Machine Learning (ML) technologies. These technologies are being used to develop intelligent applications that can automate complex tasks and provide valuable insights to businesses. Another trend is the rise of DevOps practices, which are being used to streamline the application development process and improve collaboration between development and operations teams.

Local special circumstances: The North American market is unique in that it is home to some of the world's largest technology companies such as Microsoft, Google, and Amazon. This has led to a highly competitive market where companies are constantly innovating and developing new solutions to stay ahead of the competition. Additionally, the market is also highly regulated, which has led to the development of strict data privacy laws such as the General Data Protection Regulation (GDPR) and the California Consumer Privacy Act (CCPA).

Underlying macroeconomic factors: The North American market is driven by a strong economy and a highly skilled workforce. The region has a large number of technology startups and established companies that are constantly pushing the boundaries of what is possible in the software development industry. Additionally, the region is also home to a large number of universities and research institutions, which are driving innovation and research in the field of software development.

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.