Market Insights Technology Software Productivity Software

Creative Software - Hong Kong

Hong Kong

Revenue in the Creative Software market is projected to reach US$28.25m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 2.35%, resulting in a market volume of US$31.00m 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

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Analyst Opinion

The demand for creative software in Hong Kong has been steadily increasing in recent years, with a notable surge in the past year.

Customer preferences: Customers in Hong Kong have shown a growing interest in creative software that allows them to create and edit visual content, such as images and videos. This trend is driven by the rise of social media platforms and the need for businesses and individuals to create visually appealing content to stand out in a crowded digital landscape.

Trends in the market: The creative software market in Hong Kong has seen a significant increase in demand for cloud-based software solutions. This trend is driven by the need for flexibility and accessibility, as customers increasingly prefer to work remotely and collaborate with others online. Another trend in the market is the rise of mobile applications that allow users to create and edit content on the go.

Local special circumstances: Hong Kong's position as a global financial hub and its proximity to mainland China have made it an attractive location for tech companies to establish a presence. This has led to a growing ecosystem of startups and established companies that offer a wide range of creative software solutions. Additionally, Hong Kong's status as a bilingual city with a thriving arts and culture scene has created a strong demand for creative software among both individuals and businesses.

Underlying macroeconomic factors: Hong Kong's economy has been impacted by the ongoing trade tensions between the US and China, as well as the COVID-19 pandemic. However, the city's strong digital infrastructure and its position as a gateway to the rest of Asia have helped to mitigate some of these challenges. As businesses and individuals increasingly rely on digital channels to connect with customers and audiences, the demand for creative software solutions is likely to continue to grow in Hong Kong.

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.