Software - Brunei Darussalam

Brunei Darussalam

Revenue in the Software market is projected to reach US$35.75m in 2024.
Enterprise Software dominates the market with a projected market volume of US$15.21m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 3.35%, resulting in a market volume of US$42.16m by 2029.
In global comparison, most revenue will be generated in the United States (US$363.40bn in 2024).

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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Market

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Analyst Opinion

The Software market in Brunei Darussalam has been developing at a significant pace in recent years, driven by various factors that have contributed to the growth of the industry.

Customer preferences: The customers in Brunei Darussalam are increasingly adopting software solutions to streamline their business processes and enhance their operations. The demand for software solutions is driven by the need to improve efficiency, reduce costs, and increase productivity. Customers are also looking for software solutions that are easy to use, secure, and scalable.

Trends in the market: One of the major trends in the software market in Brunei Darussalam is the increasing adoption of cloud-based software solutions. Cloud-based software solutions offer several benefits such as flexibility, scalability, and cost-effectiveness. Another trend is the growing popularity of mobile applications. With the increasing use of smartphones, customers are looking for mobile applications that can help them access services on the go.

Local special circumstances: The software market in Brunei Darussalam is relatively small compared to other countries in the region. However, the government of Brunei Darussalam is actively promoting the development of the IT industry in the country. The government has launched several initiatives to support the growth of the industry, such as the establishment of a national data center and the development of a national broadband network.

Underlying macroeconomic factors: The growth of the software market in Brunei Darussalam is also driven by the country's strong economic performance. Brunei Darussalam has a stable economy with a high GDP per capita, which has created a conducive environment for businesses to thrive. The country's strategic location in the region also makes it an attractive destination for foreign investors.In conclusion, the software market in Brunei Darussalam is developing rapidly, driven by customer preferences, local special circumstances, and underlying macroeconomic factors. The increasing adoption of cloud-based software solutions and mobile applications is expected to continue driving the growth of the industry in the coming years.

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.