Application Development Software - Taiwan

Taiwan

Revenue in the Application Development Software market is projected to reach US$1.26bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 7.46%, resulting in a market volume of US$1.68bn 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

Taiwan, a country known for its technological advancements, has been experiencing a steady growth in the Application Development Software market.

Customer preferences: In Taiwan, there is a high demand for Application Development Software that can cater to the needs of the rapidly growing tech industry. Customers prefer software that is easy to use, customizable, and can integrate with other tools. Additionally, there is a growing trend towards cloud-based solutions as they offer cost-effective and flexible options.

Trends in the market: One of the major trends in the Application Development Software market in Taiwan is the rise of low-code platforms. These platforms allow for faster development and deployment of applications, making it easier for businesses to meet their software needs. Another trend is the increasing adoption of DevOps practices, which emphasizes collaboration and automation between development and operations teams. This has led to an increased demand for tools that can facilitate this process.

Local special circumstances: Taiwan is home to many small and medium-sized enterprises (SMEs) that have specific software needs. These businesses often require customized solutions that can be tailored to their unique requirements. Additionally, Taiwan has a highly skilled workforce that is capable of developing complex software solutions. This has led to the growth of a vibrant software development community, which has been instrumental in driving innovation in the industry.

Underlying macroeconomic factors: Taiwan's strong economic growth has been a key factor in the development of the Application Development Software market. The country's GDP has been steadily increasing over the years, driven by a thriving tech industry. Additionally, Taiwan has a highly educated workforce and a favorable business environment, which has attracted many foreign companies to set up operations in the country. This has led to an increased demand for software solutions that can help these companies manage their operations more efficiently.

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.