Enterprise Software - Bangladesh

Bangladesh

Highlights

In 2024, the Enterprise Software market in Bangladesh is projected to reach a revenue of US$421.90m.
Among the various software categories, Customer Relationship Management Software dominates the market with a projected market volume of US$130.00m in the same year.
Looking ahead, the market is expected to grow at an annual growth rate of 11.88% (CAGR 2024-2029), resulting in a market volume of US$739.70m by 2029.
Furthermore, the average Spend per Employee in the Enterprise Software market in Bangladesh is projected to reach US$5.39 in 2024.
When compared globally, it is worth noting that United States is expected to generate the highest revenue, reaching US$150.50bn in 2024.
Bangladesh is witnessing a surge in demand for enterprise software solutions, as businesses in the country embrace digital transformation to enhance their operational efficiency.

Key regions:

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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Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Enterprise Software market in Bangladesh has been experiencing significant growth in recent years.

Customer preferences: Bangladesh has a rapidly growing middle class, which is driving demand for enterprise software. Customers are increasingly looking for software solutions that can help them streamline their business operations and improve efficiency. Cloud-based solutions are becoming increasingly popular as they offer greater flexibility and scalability, while also reducing costs.

Trends in the market: One of the key trends in the Enterprise Software market in Bangladesh is the increasing adoption of cloud-based solutions. This is being driven by the need for greater flexibility and scalability, as well as the desire to reduce costs. Another trend is the growing demand for mobile-friendly software solutions, as more and more people use smartphones and other mobile devices to access the internet.

Local special circumstances: One of the unique challenges facing the Enterprise Software market in Bangladesh is the relatively low level of technology adoption in the country. This means that many potential customers may not be familiar with the benefits of enterprise software, and may require significant education and outreach efforts to understand the value proposition.

Underlying macroeconomic factors: The Bangladesh economy has been growing at a steady pace in recent years, driven by a combination of strong domestic demand and export growth. This has created a favorable environment for businesses of all kinds, including those in the Enterprise Software market. Additionally, the government has been actively promoting the development of the technology sector, which has helped to create a more supportive ecosystem for software companies.

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.