Key Market Indicators
**Austrian Software Revenue Poised to Hit €1.45 Billion by 2028** Austria's software sector is set to witness significant growth over the next five years. According to recent projections, the nation's software revenue is expected to climb to €1.45 billion by 2028, up from €1.05 billion in 2023. This represents an annual compound growth rate (CAGR) of 5.1%. The Austrian software market has been expanding steadily over the past decade. Since 2013, the industry has experienced an impressive average annual growth rate of 11.1%. However, despite this robust performance, Austria ranked 12th in the European market standings for 2023. Spain matched Austria's software revenue at €1.05 billion, taking the 11th spot. Leading the rankings were Sweden, the United Kingdom, and Cyprus, securing the second, third, and fourth positions respectively.