Market Insights Technology Software Productivity Software

Creative Software - Belgium

Belgium

Revenue in the Creative Software market is projected to reach US$50.39m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 0.65%, resulting in a market volume of US$51.71m by 2028.
In global comparison, most revenue will be generated in the United States (US$4,777.00m in 2024).

Key regions: Canada, Netherlands, Germany, Japan, China

Market

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Analyst Opinion

Belgium, a country known for its chocolates, waffles, and beer, is also a hub for creative software.

Customer preferences: Belgium has a high demand for creative software, especially in the graphic design and video editing sectors. With a growing number of small and medium-sized enterprises (SMEs) in the country, the demand for affordable and user-friendly software is increasing. Customers in Belgium also prefer software that is compatible with multiple devices and operating systems.

Trends in the market: The creative software market in Belgium is witnessing a shift towards cloud-based solutions. This is due to the increasing need for remote work and collaboration, which has been accelerated by the COVID-19 pandemic. Cloud-based software allows users to access their work from anywhere and collaborate in real-time with team members. Another trend in the market is the integration of artificial intelligence (AI) and machine learning (ML) in creative software. These technologies are being used to automate repetitive tasks, enhance productivity, and improve the overall user experience.

Local special circumstances: Belgium has a highly skilled workforce, which is a major advantage for the creative software market. The country is home to several prestigious design schools and universities, producing a steady stream of talented designers and developers. Additionally, the government's support for innovation and entrepreneurship has led to the growth of several startups in the creative software industry.

Underlying macroeconomic factors: Belgium's strong economy and stable political environment have contributed to the growth of the creative software market. The country has a high GDP per capita, which means that consumers have a higher purchasing power. Additionally, Belgium's strategic location in Europe makes it an attractive destination for international businesses. The country's membership in the European Union also provides access to a large market of potential customers.

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.