Software - Angola

Angola

Angola is expected to witness significant growth in the Software market, with projected revenue reaching US$373.10m in 2024.
The dominant player in this market segment is Enterprise Software , which is projected to have a market volume of US$161.60m in 2024.
This showcases the strong presence and influence of Enterprise Software in Angola's Software market.
Furthermore, the Software market in Angola is anticipated to display a promising annual growth rate, with a CAGR of 4.23% from 2024 to 2029.
This growth trajectory is expected to result in a market volume of US$459.00m by 2029, demonstrating the potential for further expansion and development in the country's Software market sector.
In terms of global comparison, it is worth noting that United States is projected to generate the highest revenue in the Software market, reaching US$363.40bn in 2024.
This highlights the dominance of the United States in the global Software market industry, while also emphasizing the growth opportunities available for Angola to tap into this lucrative market segment.
Angola's software market is rapidly growing, driven by the increasing demand for digital solutions in sectors such as finance and telecommunications.

Key regions: United States, Canada, Germany, China, Japan

Definition:

In general, software is defined as a set of instructions written as programming code to execute specific tasks on a computing device. The Software market covers a wide range of software products and solutions that are publicly sold by various companies. Most software solutions in this market are designed for professional use, but some can also be suitable for personal use. They can also range from basic productivity tools such as word processors and spreadsheets to complex software solutions such as project management tools, graphic design software, and enterprise resource planning software.

Products in the Software market can be obtained in two ways: as on-premises software that is sold via a transactional license or a subscription and as cloud-based software (software as a service/ SaaS) that is most frequently sold as a subscription.

Structure:

The market contains four markets that are based on the functionality of the software:

Productivity Software refers to application software that supports activities such as producing documents, spreadsheets, drawings, and presentations. This market includes Administrative Software, Collaboration Software, Office Software, Creative Software, and Construction and Design Software.
Enterprise Software refers to all software that supports essential large-scale business activities such as enterprise resource management, customer management, and supply chain activities. This market includes Enterprise Resource Planning Software, Customer Relationship Management Software, Business Intelligence Software, Supply Chain Management Software, Content Management Software, and Other Enterprise Software.
Application Development Software refers to software and tools that help the overall application development process.
System Infrastructure Software refers to software that provides the base framework for operating and managing organizational processes and services on hardware devices.

Additional Information:

The Software market comprises revenue and revenue change as the key performance indicators. Only revenues that are generated by primary vendors at the manufacturer price level either directly or through distribution channels (excluding value-added tax) are included, and revenues generated by resellers are excluded. Revenues are generated through both online and offline sales channels and include spending by consumers (B2C), enterprises (B2B) as well as governments (B2G). Detailed definitions of each market can be found on the respective page where the market data is displayed.

Key players in this market include Microsoft, Adobe, SAP, Oracle, and Salesforce.

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Analyst Opinion

The Software market in Angola has been slowly developing over the years. Angola is one of the fastest-growing economies in Africa, and with the rise of technology in the country, it is no surprise that the software market is also growing.

Customer preferences: Angolans are becoming more tech-savvy and are embracing technology in their daily lives. This has led to an increase in demand for software products that can help simplify their lives. The younger generation is particularly interested in software products that can help them with their studies, social media, and entertainment.

Trends in the market: The software market in Angola is still in its early stages, and there is a lot of room for growth. The market is dominated by foreign companies, but there is also a growing number of local software companies. The demand for software products is expected to increase as more people become familiar with technology and its benefits. The rise of mobile technology has also created opportunities for software companies to develop mobile applications that can be used on smartphones and tablets.

Local special circumstances: Angola has a relatively small population compared to other African countries, which means that the market size for software products is limited. However, the country has a young population, with over 60% of the population under the age of 25. This presents an opportunity for software companies to develop products that cater to the needs of the younger generation.

Underlying macroeconomic factors: Angola has been experiencing economic growth over the years, and this has led to an increase in disposable income for its citizens. This has created an opportunity for software companies to develop products that are affordable and accessible to the majority of the population. The government has also been investing in the technology sector, which has created an enabling environment for the growth of the software market. In conclusion, the software market in Angola is still in its early stages, but there is a lot of potential for growth. The rise of technology and the young population present opportunities for software companies to develop products that cater to the needs of the population. The government's investment in the technology sector also creates an enabling environment for the growth of the market.

Methodology

Data coverage:

The data encompasses B2B, B2G, and B2C enterprises, except for the Enterprise Software segment, in which consumer (B2C) spending is not considered. Figures are based on the allocation to the country where the money was spent at manufacturer price level (excluding VAT).

Modeling approach / Market size:

Market sizes are determined through a top-down approach with a bottom-up validation, building on a specific rationale for each market segment. As a basis for evaluating markets, we use annual financial reports of the market-leading companies and reports from our primary research. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, level of digitization, GDP sector composition, and observed level of software piracy. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. The main drivers are the GDP and the level of digitization.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.