Enterprise Software - Asia

Asia

Revenue in the Enterprise Software market is projected to reach US$51.04bn in 2024.
Customer Relationship Management Software dominates the market with a projected market volume of US$15.59bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 9.40%, resulting in a market volume of US$73.12bn by 2028.
The average Spend per Employee in the Enterprise Software market is projected to reach US$64.47 in 2024.
In global comparison, most revenue will be generated in the United States (US$147.60bn in 2024).

Key regions: Germany, United States, Canada, Netherlands, France

Definition:

The Enterprise Software market covers software applications designed to support essential business activities by large organizations such as enterprise resource planning, customer relationship management, business intelligence, and supply chain management.

Products in the Enterprise 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 Enterprise Software market contains eight markets that are based on the functionality of the software:

Business Intelligence Software refers to software applications that support organizations to analyze, visualize, and report data.
Content Management Software refers to a wide range of software applications that support organizations to manage their digital content such as documents, images, and videos.
Customer Relationship Management Software refers to software applications that support organizations to manage their interactions with customers, clients, and prospects.
eCommerce Software refers to a wide range of software applications that support organizations to manage their online sales channels.
Enterprise Performance Management Software refers to software solutions that help organizations to manage and improve their performance across various areas, such as finance, operations, and strategy.
Enterprise Resource Planning Software refers to software applications that support organizations to manage, integrate and optimize important business activities related to resources such as people, finance, capital, materials, and orders.
Supply Chain Management Software refers to software applications that support organizations to manage their supply chain activities such as inventory optimization, supplier and vendor management, and logistic operations.
Other Enterprise Software refers to aggregated revenues for the types of enterprise software that are not specifically mentioned in the other Enterprise Software markets, such as Project Management Software, Product Life Cycle Management Software, and Production and Operation Software.

Additional Information:

The Enterprise Software market comprises revenue and revenue growth 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 SAP, Salesforce, Adobe, and Oracle.

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Analyst Opinion

The Enterprise Software market in Asia has been rapidly growing in recent years, driven by various factors such as digital transformation and increasing demand for cloud-based solutions.

Customer preferences: Customers in Asia are increasingly looking for enterprise software solutions that are flexible, scalable, and customizable to their specific needs. They are also seeking solutions that can help them to streamline their business processes, improve efficiency, and reduce costs. Cloud-based solutions are becoming increasingly popular, as they offer greater flexibility and scalability, and can be accessed from anywhere at any time. Customers are also looking for solutions that are easy to use and can be integrated with their existing systems.

Trends in the market: In China, the Enterprise Software market is being driven by the government's "Made in China 2025" initiative, which aims to transform China into a global manufacturing leader by leveraging the latest technologies. As a result, there is a growing demand for enterprise software solutions that can help Chinese manufacturers to improve their efficiency and competitiveness. In Japan, there is a growing demand for enterprise software solutions that can help companies to address the challenges of an aging population and a shrinking workforce. Solutions that can automate processes and reduce the need for manual labor are becoming increasingly popular. In India, the Enterprise Software market is being driven by the government's "Digital India" initiative, which aims to transform India into a digitally empowered society and knowledge economy. As a result, there is a growing demand for enterprise software solutions that can help Indian businesses to digitize their operations and improve their efficiency.

Local special circumstances: In Southeast Asia, the Enterprise Software market is being driven by the rapid growth of the region's digital economy. As more businesses in the region go online, there is a growing need for enterprise software solutions that can help them to manage their operations more effectively. In addition, the region's young and tech-savvy population is driving demand for innovative software solutions that can help them to work and communicate more efficiently.

Underlying macroeconomic factors: The Enterprise Software market in Asia is being driven by a number of underlying macroeconomic factors, including rising incomes, increasing urbanization, and growing digitalization. As more people in the region move to cities and become part of the digital economy, there is a growing need for enterprise software solutions that can help businesses to keep up with the pace of change. In addition, the region's growing middle class is driving demand for software solutions that can help them to manage their finances, plan for the future, and improve their quality of life. Finally, the region's rapidly evolving regulatory environment is driving demand for software solutions that can help businesses to stay compliant with local laws and regulations.

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.