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Mon - Fri, 9am - 6pm (EST)
Key regions: United States, Canada, Germany, China, Japan
Bhutan, a landlocked country nestled in the Himalayas, is known for its stunning landscapes, rich culture, and commitment to preserving its natural environment. Over the past few years, the country has also been making strides in the software market, with a growing number of companies and startups emerging in the industry.
Customer preferences: In Bhutan, there is a growing demand for software solutions that can help businesses streamline their operations and improve their efficiency. This includes software for accounting, inventory management, and customer relationship management. Additionally, there is a growing interest in software solutions that can help businesses connect with customers online, such as e-commerce platforms and social media management tools.
Trends in the market: One of the key trends in the software market in Bhutan is the emergence of startups focused on developing software solutions for the tourism industry. With tourism being a major contributor to the country's economy, these startups are leveraging technology to help businesses in the industry improve their operations and attract more visitors. Another trend is the increasing demand for cloud-based software solutions, which offer greater flexibility and scalability compared to traditional on-premise solutions.
Local special circumstances: One of the unique challenges facing the software market in Bhutan is the country's limited IT infrastructure. While the government has made efforts to improve internet connectivity and access to technology, there is still a long way to go in terms of building a robust IT ecosystem. This can make it difficult for software companies to operate and scale their businesses.
Underlying macroeconomic factors: Bhutan's economy is heavily reliant on the hydropower sector, which accounts for a significant portion of the country's exports. However, the government has been making efforts to diversify the economy and promote entrepreneurship and innovation. This has created opportunities for startups and software companies to emerge and contribute to the country's economic growth. Additionally, Bhutan's commitment to preserving its natural environment has made it an attractive destination for socially responsible businesses, including those in the software industry.
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.Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)