Application Development Software - Romania

Romania

Revenue in the Application Development Software market is projected to reach US$95.88m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 7.55%, resulting in a market volume of US$128.30m 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

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Analyst Opinion

The Application Development Software market in Romania has been steadily growing in recent years, driven by several factors unique to the country.

Customer preferences: Romanian customers have shown a strong preference for cloud-based application development software, which allows for greater flexibility and scalability. Additionally, there has been a growing demand for low-code or no-code development platforms, which enable businesses to develop applications without the need for extensive coding knowledge.

Trends in the market: One major trend in the Romanian market is the increasing adoption of DevOps practices, which emphasizes collaboration and communication between development and operations teams. This has led to a greater demand for tools that can automate and streamline the development process, such as continuous integration and delivery (CI/CD) tools.Another trend is the rise of mobile application development, as more businesses seek to reach customers through mobile devices. This has led to a greater demand for cross-platform development tools that can support both iOS and Android platforms.

Local special circumstances: One unique aspect of the Romanian market is the strong presence of outsourcing companies, which has led to a greater demand for software development tools that can support distributed teams. Additionally, the country's growing startup ecosystem has created a need for affordable and accessible application development software.

Underlying macroeconomic factors: Romania's growing economy and tech sector have contributed to the growth of the application development software market. The country has a highly skilled workforce and a relatively low cost of living, making it an attractive location for both local and international businesses. Additionally, the Romanian government has implemented policies to support the growth of the tech sector, such as tax incentives for startups and investments in digital infrastructure.

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.