€480 million
Total Software Market Value
Latvia's software market is projected to reach €480 million in 2026, reflecting steady growth driven by digital transformation.
65%
SaaS Spending Share
65% of software expenditure in Latvia will be on SaaS solutions, emphasizing cloud adoption among businesses.
€1,200
Average SaaS Subscription Cost
The average annual SaaS subscription cost per company is projected at €1,200, indicating widespread small to medium enterprise usage.
150
Number of SaaS Vendors
Latvia will have around 150 active SaaS providers, showing a vibrant local and international vendor ecosystem.
22%
IT Budget Allocation for Software
Businesses allocate approximately 22% of their IT budgets to software purchases and subscriptions.
Latvia's software spending in 2026 is expected to reach €480 million, driven by increased digitalization across industries. SaaS solutions dominate, accounting for 65% of total software expenditure, reflecting the country's shift towards cloud-based services. Small and medium enterprises are adopting SaaS more rapidly, with average subscription costs around €1,200 annually, making digital tools more accessible.
The local SaaS ecosystem is expanding with about 150 vendors, including startups and international providers. Companies allocate nearly a quarter of their IT budgets to software, indicating a strong commitment to enhancing operational efficiency. Latvia's digital infrastructure improvements and government initiatives are further fueling this growth, positioning the country as a competitive digital economy in the Baltic region.
Disclaimer: All statistics presented are 2026 estimates and projections based on industry trend analysis, historical data, and publicly available research. Individual data points may vary from actual figures.