Software - Burkina Faso

Burkina Faso

The Software market in Burkina Faso is expected to achieve a revenue of US$47.01m in 2024.
The dominant player in this market segment is Enterprise Software , which is projected to reach a market volume of US$19.66m in the same year.
The anticipated annual growth rate (CAGR 2024-2029) is forecasted to be 8.13%, resulting in a market volume of US$69.49m by 2029.
When compared globally, United States is expected to generate the highest revenue in the Software market, reaching US$363.40bn in 2024.
Despite challenges in infrastructure, Burkina Faso's software market is experiencing steady growth with increased adoption of cloud-based solutions.

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

Burkina Faso, a landlocked country in West Africa, has been experiencing a steady growth in the software market in recent years.

Customer preferences: Burkina Faso's software market is dominated by enterprise software, followed by system software and applications software. The demand for enterprise software is driven by the need for efficient business operations and management. The government sector is a major customer for software solutions, followed by the banking and finance sector. Small and medium-sized enterprises are also increasingly adopting software solutions to streamline their operations and improve productivity.

Trends in the market: One of the major trends in Burkina Faso's software market is the shift towards cloud-based solutions. The adoption of cloud-based software is driven by the need for cost-effective solutions and the increasing availability of high-speed internet. Another trend is the growing use of mobile applications, particularly in the banking and finance sector. Mobile applications are seen as a convenient way to access financial services, especially in areas where traditional banking services are not readily available.

Local special circumstances: Burkina Faso's software market is relatively small compared to other African countries, but it is growing rapidly. The country has a young and growing population, with a high rate of mobile phone penetration, which presents opportunities for software providers. However, the market is also highly competitive, with many local and international players vying for market share. In addition, the lack of a strong legal and regulatory framework for the software industry poses challenges for both providers and customers.

Underlying macroeconomic factors: Burkina Faso's economy has been growing steadily in recent years, driven by agriculture, mining, and services. The government has been investing in infrastructure, including the expansion of the telecommunications network, which has helped to drive the growth of the software market. However, the country still faces challenges such as high levels of poverty and unemployment, which may limit the growth of the software market in the long term.

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.