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Construction and Design Software - Montenegro

Montenegro

Revenue in the Construction and Design Software market is projected to reach US$1.23m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 3.10%, resulting in a market volume of US$1.39m by 2028.
In global comparison, most revenue will be generated in the United States (US$5,420.00m in 2024).

Key regions: Japan, South Korea, United States, Germany, France

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Analyst Opinion

Construction and Design Software market in Montenegro is experiencing significant growth in recent years. The market has been driven by increased investments in infrastructure and construction projects in the country.

Customer preferences: Montenegro is a developing country with a growing construction industry. The market for Construction and Design Software is dominated by small and medium-sized enterprises (SMEs) that prefer affordable and easy-to-use software solutions. These companies are increasingly adopting cloud-based software solutions to reduce costs and improve collaboration between teams.

Trends in the market: The Construction and Design Software market in Montenegro is experiencing a shift towards cloud-based solutions. This trend is driven by the need for affordable and flexible software solutions that can be accessed from anywhere. The market is also witnessing an increasing demand for Building Information Modeling (BIM) software solutions. BIM software is becoming popular due to its ability to improve collaboration between architects, engineers, and contractors, resulting in better project outcomes.

Local special circumstances: Montenegro is a small country with a population of around 600,000 people. The construction industry is a major contributor to the country's economy, with several large-scale infrastructure projects underway. The government is also investing heavily in the construction of new residential and commercial buildings, which is driving the demand for Construction and Design Software solutions.

Underlying macroeconomic factors: Montenegro's economy has been growing steadily in recent years, driven by tourism, construction, and foreign investments. The country's membership in the European Union (EU) has also contributed to the growth of its economy. The government's focus on infrastructure development and construction projects has created a favorable environment for the growth of the Construction and Design Software market. The market is expected to continue growing in the coming years, driven by the increasing demand for affordable and flexible software solutions.

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.