Software

Denmark

Highlights

The Software market in Denmark is expected to see a significant increase in revenue, projected to reach US$3.96bn in 2024.
Among the various segments, Enterprise Software stands out as the dominant force, with a projected market volume of US$1.66bn in the same year.
This indicates the strong presence and demand for software solutions in Denmark.
Looking ahead, the Software market is anticipated to experience a steady growth rate.
With an expected annual growth rate (CAGR 2024-2029) of 3.71%, the market volume is projected to reach US$4.76bn by 2029.
This reflects the continuous adoption and expansion of software technologies across industries in Denmark.
In a global context, it is noteworthy that United States is expected to generate the highest revenue in the Software market.
With an estimated revenue of US$363.40bn in 2024, United States maintains its position as a key player in the global software industry.
This highlights the significance of the US market and its potential impact on the overall software landscape.
In Denmark, the software market is thriving with a strong focus on innovative solutions for sustainable development.

Key regions:

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 definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

Denmark, known for its high standard of living, is also a hub for the technology industry in Europe. The software market in Denmark has been growing at a steady pace over the years, driven by various factors.

Customer preferences: Danish customers are known for their preference for high-quality products and services. They are willing to pay a premium for software that meets their needs and expectations. Additionally, Danish customers prioritize sustainability and ethical business practices, which has led to the rise of eco-friendly and socially responsible software solutions.

Trends in the market: Cloud-based software solutions have been gaining popularity in Denmark due to their flexibility and cost-effectiveness. The demand for software-as-a-service (SaaS) and platform-as-a-service (PaaS) has been on the rise, as they offer businesses the ability to scale up or down as needed and reduce IT infrastructure costs. Another trend in the software market in Denmark is the adoption of artificial intelligence (AI) and machine learning (ML) technologies. Many Danish companies are using these technologies to improve efficiency and productivity, as well as to develop new products and services.

Local special circumstances: Denmark has a strong startup culture, which has led to the emergence of many innovative software companies. The Danish government has also been supportive of the technology industry, providing funding and other resources to help startups and established companies grow. Additionally, Denmark has a highly skilled workforce, with many people educated in computer science and engineering.

Underlying macroeconomic factors: Denmark has a strong and stable economy, with a high GDP per capita and low unemployment rate. The country also has a well-developed infrastructure and a favorable business environment, which has attracted many foreign companies to invest in the country. These factors have contributed to the growth of the software market in Denmark, as businesses have the resources and confidence to invest in new technologies and software solutions.In conclusion, the software market in Denmark is driven by customer preferences for high-quality and sustainable solutions, as well as trends such as cloud-based software and AI/ML technologies. The country's strong startup culture, supportive government, skilled workforce, and favorable macroeconomic factors have also contributed to the growth of the market.

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.