Sweden Software Development Market - Forecast (2023 - 2028)

The Sweden Software Development market size is analyzed to be $7,720.7 million in 2021 and is projected to reach $10,856.3 million in 2027, growing at a CAGR of 5.9% during the forecast period 2022-2027. The global Sweden Software Development Market size is estimated to surpass $3.7 billion by 2027, growing at an estimated CAGR of more than 5.8% during the forecast period 2022 - 2027. Software development is the process of creating, designing and deploying software, which is independent of computer hardware and makes the computer programmable using various programming languages.

Software development is primarily conducted by computer programmers, software engineers and software developers. Programmers and coders write source codes to program computers for specific tasks like merging databases, processing online orders, routing communications, source code generation, conducting searches or displaying text and graphics among others. According to a report by OECD, Sweden has one of the most digitally savvy populations in Europe; when it comes to familiarity with the internet and the adoption of this medium in their daily lives. The recent shift towards digitization, coupled with the growing trend towards Industry 4.0 and the Internet of Things, are some of the major factors that are driving the growth of the Sweden Software Development market.

Software development in Sweden has gained a lot of traction in recent years. The markets have witnessed an increasing number of investments and acquisitions, particularly towards Computer-aided software engineering, which is projected to propel the growth of the Sweden software development market. For instance, in May 2021, the Swedish Foundation for Strategic Research (SSF), an independent public research funding organization, announced an investment of $19.7 million in software development in SSF Future Software Systems.



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