Software - Cambodia

Cambodia

In Cambodia, the Software market is expected to witness a significant growth in revenue, with projections indicating that it will reach US$109.20m by the year 2024.
The dominant player in this market segment is Enterprise Software , which is forecasted to have a market volume of US$43.86m in the same year.
Furthermore, the Software market is anticipated to exhibit a steady annual growth rate of 8.22%, from 2024 to 2029 (CAGR 2024-2029).
This growth is expected to result in a market volume of US$162.10m by 2029.
In comparison to other countries globally, United States is set to generate the highest revenue in the Software market, reaching a staggering US$363.40bn in 2024.
This highlights the strong market presence and economic influence of the United States in the Software market industry.
Cambodia's software market is rapidly growing, driven by a strong focus on technology education and an increasing demand for software solutions in various industries.

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

Region

Region comparison

Currency

Analyst Opinion

Cambodia, a country in Southeast Asia, has been experiencing a steady growth in its software market over the years.

Customer preferences: Cambodians have been showing a growing interest in software products and services, with a particular focus on mobile applications. This can be attributed to the increasing use of smartphones and the internet in the country, which has led to a rise in demand for software that can be accessed on these devices. Additionally, there has been a surge in demand for business software solutions, as more and more Cambodian companies are looking to digitize their operations.

Trends in the market: One of the major trends in the Cambodian software market is the rise of local software development companies. These companies are offering a range of software products and services, from mobile applications to business software solutions. This trend can be attributed to the growing demand for software in the country, as well as the increasing availability of skilled software developers.Another trend in the market is the increasing use of cloud-based software solutions. This trend is driven by the need for businesses to access their data and applications from anywhere, at any time. Cloud-based software solutions also offer cost savings and scalability, which are particularly important for small and medium-sized enterprises (SMEs) in Cambodia.

Local special circumstances: Cambodia is a developing country with a young population, which presents both opportunities and challenges for the software market. On the one hand, the growing use of smartphones and the internet in the country provides a large potential customer base for software products and services. On the other hand, the lack of infrastructure and limited access to financing can make it difficult for software companies to grow and expand.

Underlying macroeconomic factors: The Cambodian economy has been growing steadily in recent years, which has contributed to the growth of the software market. The government has also been implementing policies to promote the digital economy, which has helped to create a favorable environment for software companies. However, the country still faces challenges such as corruption and a lack of skilled labor, which could hinder 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.