Key Market Indicators
Latvia's software revenue is projected to decrease slightly to €4.5 million by 2028 from its current level of €4.6 million in 2023. This marks an average annual decline of 0.4%. Despite this slight downturn, the Latvian software market has seen a year-on-year increase of 1.8% since 2013. In 2023, Latvia ranked 28th in software revenue. Iceland, with €4.6 million, has surpassed Latvia. Leading the rankings were Sweden, the United Kingdom, and Cyprus, occupying the second, third, and fourth positions, respectively.
