Enterprise Software - Africa

  • Africa
  • The revenue in the Enterprise Software market in Africa is expected to reach US$3.56bn in 2024.
  • Among the different software categories, Customer Relationship Management Software dominates the market, with a projected market volume of US$1.10bn in 2024.
  • The revenue is anticipated to grow at an annual rate of 8.16% (CAGR 2024-2029), resulting in a market volume of US$5.27bn by 2029.
  • The average spend per employee in the Enterprise Software market in Africa is projected to be US$6.90 in 2024.
  • In terms of global comparison, United States is expected to generate the highest revenue, reaching US$150.50bn in 2024.
  • In Africa, the enterprise software market is rapidly growing as businesses embrace digital transformation to improve efficiency and productivity.

Key regions: France, United Kingdom, Australia, Canada, South Korea

 
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Analyst Opinion

The Enterprise Software market in Africa has been steadily growing in recent years, driven by a number of factors unique to the region.

Customer preferences:
One of the main drivers of growth in the Enterprise Software market in Africa is the increasing adoption of cloud-based solutions. This is due to a number of factors, including the lower cost of ownership, increased flexibility, and the ability to scale up or down as needed. Additionally, there is a growing demand for software solutions that are tailored to the specific needs of African businesses, particularly in areas such as finance, healthcare, and education.

Trends in the market:
One trend that has been observed in the Enterprise Software market in Africa is the increasing use of mobile devices to access software applications. This is due to the high penetration of mobile phones in the region, as well as the increasing availability of high-speed mobile data networks. As a result, software vendors are increasingly developing mobile-first solutions that are optimized for use on smartphones and tablets.Another trend that has been observed is the increasing adoption of open-source software solutions. This is due to the lower cost of ownership and the ability to customize the software to meet the specific needs of African businesses. Additionally, there is a growing community of developers and users who are contributing to the development of open-source software solutions, which is helping to drive innovation in the market.

Local special circumstances:
One of the unique challenges facing the Enterprise Software market in Africa is the lack of reliable internet connectivity in some parts of the region. This can make it difficult for businesses to access cloud-based software solutions, and can also limit the ability of software vendors to provide support and updates. Additionally, there are a number of regulatory and legal barriers to entry in some African countries, which can make it difficult for software vendors to establish a presence in the market.

Underlying macroeconomic factors:
The growth of the Enterprise Software market in Africa is being driven by a number of underlying macroeconomic factors, including the increasing adoption of technology in African businesses, the growing demand for software solutions that are tailored to the specific needs of African businesses, and the increasing availability of high-speed internet connectivity in the region. Additionally, there is a growing community of developers and users who are contributing to the development of open-source software solutions, which is helping to drive innovation in the market.

Methodology

Data coverage:

The data encompasses B2B, B2G, and B2C enterprises. Figures are based on the allocation to the country where the money was spent at manufacturer price level (excluding VAT).

Modeling approach / Market size:

The segment size is determined through a top-down approach. We use financial statements such as annual reports, quarterly earnings, and expert opinions to analyze the markets. To estimate the segment size for each country individually, we use relevant key market indicators and data from country-specific industry associations such as GDP, level of digitization, GDP sector composition, and observed level of software piracy.

Forecasts:

We use a variety of forecasting techniques, for instance, advanced statistical methods, depending on the behavior of the relevant segment. 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.

Overview

  • Revenue
  • Key Players
  • Analyst Opinion
  • Global Comparison
  • Methodology
  • Key Market Indicators
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