Enterprise Software - Belarus

Belarus

In 2024, the projected revenue for the Enterprise Software market in Belarus is expected to reach US$283.80m.
Among the various segments within the market, Customer Relationship Management Software holds the dominant position, with a projected market volume of US$97.42m in the same year.
Looking ahead, the market is anticipated to demonstrate an annual growth rate of 8.69% (CAGR 2024-2029), resulting in a market volume of US$430.50m by 2029.
Furthermore, the average Spend per Employee in the Enterprise Software market in Belarus is projected to reach US$59.74 in 2024.
In a global context, it is important to note that United States is expected to generate the highest revenue, with US$150.50bn in 2024.
Belarus is emerging as a hub for enterprise software development, leveraging its highly skilled workforce and competitive cost advantage.

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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Market

Region

Region comparison

Currency

Analyst Opinion

Belarus, located in Eastern Europe, is an emerging market for enterprise software.

Customer preferences: Belarusian companies are increasingly adopting enterprise software solutions to streamline their business operations and improve productivity. The demand for enterprise software is being driven by the need for efficient data management, automation of business processes, and better collaboration among employees. Cloud-based software solutions are becoming increasingly popular among Belarusian businesses due to their flexibility, scalability, and cost-effectiveness.

Trends in the market: The enterprise software market in Belarus is witnessing significant growth due to the increasing adoption of cloud-based solutions. The demand for cloud-based software is being driven by the need for remote access, scalability, and cost-effectiveness. Belarusian businesses are also adopting software solutions that offer advanced analytics and reporting capabilities to gain insights into their business operations and make data-driven decisions.

Local special circumstances: Belarus is home to a growing number of software development companies that are providing enterprise software solutions to businesses in the country and around the world. The country has a highly skilled and cost-effective IT workforce, which is attracting foreign companies to set up their development centers in the country. The Belarusian government is also supporting the growth of the IT industry by providing tax incentives and creating a favorable business environment.

Underlying macroeconomic factors: Belarus has a stable economy and a favorable business environment, which is attracting foreign investment in the IT sector. The country has a well-developed IT infrastructure, which is supporting the growth of the enterprise software market. The government is also investing in the development of the IT sector by providing funding for research and development and creating a supportive regulatory environment. The increasing adoption of enterprise software solutions by Belarusian businesses is expected to drive the growth of the IT industry in the country in the coming years.

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.