System Infrastructure Software - Montenegro

Montenegro

Revenue in the System Infrastructure Software market is projected to reach US$16.68m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 2.91%, resulting in a market volume of US$18.71m by 2028.
In global comparison, most revenue will be generated in the United States (US$74,880.00m in 2024).

Key regions: Japan, United States, United Kingdom, Australia, France

Market

Region

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Currency

Analyst Opinion

The System Infrastructure Software market in Montenegro is experiencing steady growth in recent years.

Customer preferences: Montenegro's IT market is relatively small but growing, with a preference for cloud-based solutions and digital transformation. Customers are increasingly looking for software that can improve their business processes and efficiency, such as virtualization software and network management tools.

Trends in the market: The market for system infrastructure software in Montenegro is dominated by international vendors, with a few local players. The trend towards cloud-based solutions is driving growth in the market, as more businesses look to move their operations to the cloud. Additionally, the increasing demand for data security and privacy is driving growth in the market for security software.

Local special circumstances: Montenegro's IT market is relatively small, with a limited number of local vendors. As a result, international vendors dominate the market, offering a wide range of system infrastructure software solutions. The government is also investing in the development of the IT sector, which is expected to drive growth in the market.

Underlying macroeconomic factors: Montenegro's economy is heavily reliant on the tourism industry, which has been hit hard by the COVID-19 pandemic. However, the government is investing in the development of other sectors, including the IT industry. The country's strategic location and favorable tax policies make it an attractive location for international businesses looking to expand into the Balkans region. These factors are expected to drive growth in the market for system infrastructure software in Montenegro in the coming years.

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.