Enterprise Software - Bhutan

Bhutan

The Enterprise Software market in Bhutan is expected to generate revenue of US$4.15m in 2024.
Customer Relationship Management Software holds the largest market share with a projected volume of US$1.22m in the same year.
The market is expected to grow at an annual rate of 9.99% between 2024 and 2029, resulting in a market volume of US$6.68m by 2029.
The average spend per employee in the Enterprise Software market is estimated to be US$10.59 in 2024.
In terms of global comparison, United States is expected to generate the highest revenue of US$150.50bn in 2024.
"Despite its small size and limited technological infrastructure, Bhutan is embracing enterprise software solutions to modernize its business operations and enhance efficiency."

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 Bhutan has seen significant growth in recent years.

Customer preferences: Bhutanese customers are increasingly seeking enterprise software solutions that can help them streamline their business processes, increase efficiency, and reduce costs. Cloud-based solutions are particularly popular, as they offer scalability, flexibility, and affordability.

Trends in the market: One of the key trends in the Bhutanese Enterprise Software market is the adoption of cloud-based solutions. As more businesses in Bhutan look to digitize their operations, cloud-based solutions are becoming increasingly popular due to their affordability, scalability, and flexibility. Another trend is the increasing demand for enterprise software solutions that can help businesses comply with regulatory requirements.

Local special circumstances: Bhutan is a small country with a population of just over 750,000 people. The country has a relatively small economy, with most businesses being small or medium-sized enterprises. This means that enterprise software vendors need to tailor their solutions to the unique needs of Bhutanese businesses. Additionally, Bhutan has a strong focus on environmental sustainability and social responsibility, which means that enterprise software vendors need to take these factors into account when developing solutions for the Bhutanese market.

Underlying macroeconomic factors: Bhutan has seen strong economic growth in recent years, driven by the hydropower sector and the tourism industry. This has led to an increase in demand for enterprise software solutions that can help businesses manage their operations more efficiently. Additionally, the government of Bhutan has made significant investments in developing the country's IT infrastructure, which has helped to drive the adoption of enterprise software solutions.

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.