Engineering software market estimated at €185 mln in CEE
According to the latest figures released by Cambashi research and analysis consultants, in 2007 the value of the market for engineering applications software in the CEE area (Czech Republic, Hungary, Poland and Slovakia) grew 11% to more than €185 million.
Cambashi forecasts that by 2010 this region will grow to more than €265 million. Cambashi managing director Peter Thorne said, “Today, Central Europe represents a faster growing market than Europe as a whole. Investment in infrastructures and manufacturing is creating demand for engineering applications Working with local partners will be a key success factor for global software companies wanting a share of this lucrative market.”
Cambashi pointed out that, with a network of intermediaries facilitating cross-border trading, it can be quite difficult to establish the location of software’s final user. However, the company estimates that Poland has the biggest engineering applications software market; at €78 million, it represents 42% of the region’s total expenditure, having grown at nearly 15% over the previous year. In manufacturing engineering applications Poland accounts for 36% of the region’s spending. In geospatial software, Poland leads with more than half of all geospatial applications spent in Central Europe.
Czech Republic is the second-largest market in Central Europe; with nearly €67 million, it represents 36% of the region’s total expenditure. Cambashi estimates that Czech represents 39% of the region’s demand, with €35 million in manufacturing engineering software. This is slightly above the worldwide average, making it the largest region, above Poland, for manufacturing engineering software. Overall, across all disciplines, demand in Czech grew at 8% in 2007.
Hungary also grew at a similar rate of 8% in 2007; in mechanical engineering software, demand reached more than €15 million or greater than 52% of the Hungarian market, with AEC 31% and geospatial 17% of total engineering applications spending.
Slovakia is the smallest market at nearly €12 million, but grew at a faster rate (11%+) than all but Poland in Central Europe.
In 2008, Cambashi forecasts that overall Central European demand will increase another 11% to €207 million. With a large part of the market concentrated in two countries, Poland and Czechia, growth in the region depends to a significant extent on their growth. Cambashi forecasts that demand in these countries will grow between 10% and 12% in 2008. (cadalyst.com)
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.