Enterprise Software - Bahrain

Bahrain

The Enterprise Software market in Bahrain is expected to see a significant increase in revenue, reaching US$49.65m by 2024.
Among the various software categories, Customer Relationship Management Software is projected to dominate the market with a substantial market volume of US$15.04m in the same year.
Looking ahead, the market is anticipated to grow at an annual growth rate of 6.15% (CAGR 2024-2029), resulting in a market volume of US$66.91m by 2029.
In terms of spending, the average Spend per Employee in the Enterprise Software market in Bahrain is estimated to reach US$56.03 in 2024.
When compared globally, United States is expected to generate the highest revenue with US$150.50bn in 2024.
Bahrain's growing economy and favorable business environment have attracted several international enterprise software companies to establish their presence in the country.

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

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.
AI Development Tool Software refers to a specialized category of software designed to facilitate the creation, testing, deployment, and management of artificial intelligence (AI) models and applications.
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 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 Bahrain has been steadily growing in the recent years, driven by several factors that have contributed to its development.

Customer preferences: Bahraini customers have shown a growing interest in cloud-based enterprise software solutions, which offer greater flexibility and scalability compared to traditional on-premises software. This trend is particularly evident in small and medium-sized enterprises (SMEs), which have increasingly adopted cloud-based solutions to streamline their operations and reduce costs. Additionally, Bahraini customers have shown a preference for software solutions that are tailored to their specific needs and requirements, rather than generic off-the-shelf products.

Trends in the market: One of the key trends in the Enterprise Software market in Bahrain is the increasing adoption of artificial intelligence (AI) and machine learning (ML) technologies. These technologies are being used to automate routine tasks, improve decision-making processes, and enhance overall efficiency. Another trend is the growing demand for mobile-first enterprise software solutions, as more and more employees work remotely and require access to software on their mobile devices. Finally, there is a trend towards greater integration between different software solutions, as businesses seek to create seamless workflows and reduce the need for manual data entry.

Local special circumstances: Bahrain has a small but thriving tech startup scene, which has contributed to the development of the Enterprise Software market. The Bahraini government has also been supportive of the tech industry, offering incentives and initiatives to encourage entrepreneurship and innovation. Additionally, Bahrain's strategic location in the Gulf region has made it an attractive destination for businesses looking to expand into the Middle East and North Africa (MENA) region.

Underlying macroeconomic factors: Bahrain's economy is heavily dependent on the oil and gas industry, which has been impacted by fluctuations in global oil prices in recent years. As a result, the government has been working to diversify the economy and promote non-oil sectors such as technology. Bahrain's relatively small population and business-friendly environment have also made it an attractive destination for foreign investment in the tech sector. Finally, Bahrain's participation in regional initiatives such as the Gulf Cooperation Council (GCC) and the Arab Free Trade Area (AFTA) have helped to create a favorable business environment for the Enterprise Software 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.