Application Development Software - United Kingdom

United Kingdom

The United Kingdom is expected to witness a significant growth in the Application Development Software market.
By 2024, the projected revenue of the market in the United Kingdom is estimated to reach US$9.53bn.
This revenue is expected to exhibit a steady annual growth rate (CAGR 2024-2029) of 7.28%.
As a result, the market volume is projected to expand to US$13.54bn by 2029.
In terms of global comparison, it is noteworthy that United States is anticipated to generate the highest revenue in the Application Development Software market.
In 2024, United States is projected to generate a substantial revenue of US$91,950.00m.
The United Kingdom is experiencing a surge in demand for application development software as businesses adapt to the digital landscape.

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

Market

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Analyst Opinion

The Application Development Software market in United Kingdom has been experiencing steady growth over the past few years.

Customer preferences: Customers in the United Kingdom have been increasingly interested in application development software due to the rise of digital transformation in various industries. This has led to the need for businesses to have their own applications to stay competitive in the market. Additionally, the popularity of mobile devices has created a demand for mobile application development software.

Trends in the market: One trend in the Application Development Software market in United Kingdom is the adoption of low-code or no-code platforms. These platforms allow users to create applications without the need for extensive coding knowledge, making it more accessible for businesses of all sizes. Another trend is the integration of artificial intelligence and machine learning into application development software, allowing for more personalized and efficient applications.

Local special circumstances: The United Kingdom has a strong technology industry, with many startups and established companies focusing on software development. This has created a competitive market for application development software, with companies constantly innovating to stay ahead. Additionally, the United Kingdom has a large financial services industry, which has a high demand for secure and efficient applications.

Underlying macroeconomic factors: The United Kingdom's economy has been growing steadily, providing a stable environment for businesses to invest in application development software. Additionally, the government has been investing in digital infrastructure, such as the rollout of 5G networks, which will provide faster and more reliable internet access, making it easier for businesses to utilize cloud-based application development software. The United Kingdom's decision to leave the European Union has created some uncertainty, but it has not had a significant impact on the Application Development Software market in United Kingdom so far.

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.