System Infrastructure Software - Serbia

Serbia

Revenue in the System Infrastructure Software market is projected to reach US$42.13m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 6.29%, resulting in a market volume of US$53.78m 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

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Analyst Opinion

The demand for System Infrastructure Software in Serbia has been on the rise in recent years.

Customer preferences: Serbian customers are becoming increasingly aware of the benefits of modern technology, including the use of System Infrastructure Software. They are looking for solutions that can improve the efficiency of their businesses and increase their productivity. Additionally, there is a growing trend towards cloud-based solutions, which offer greater flexibility and scalability.

Trends in the market: One of the key trends in the System Infrastructure Software market in Serbia is the increasing adoption of open-source software. This is driven by the desire to reduce costs and increase flexibility. Another trend is the growing importance of cybersecurity, as businesses become more reliant on digital systems and data. This has led to an increased demand for software solutions that can protect against cyber threats.

Local special circumstances: Serbia is one of the fastest-growing IT markets in the Balkans, with a strong focus on innovation and entrepreneurship. The government has implemented several initiatives to support the growth of the IT sector, including tax incentives for tech startups. This has led to a thriving tech ecosystem, with a growing number of startups and SMEs operating in the System Infrastructure Software market.

Underlying macroeconomic factors: Serbia's economy has been growing steadily in recent years, with a focus on attracting foreign investment and promoting exports. The country's accession to the EU has also opened up new opportunities for businesses in the IT sector. These factors have contributed to the growth of the System Infrastructure Software market, as businesses look for solutions that can help them stay competitive in an increasingly globalized economy.

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.