Enterprise Software - Central Asia

Central Asia

The Enterprise Software market in Central Asia is expected to generate a revenue of US$632.20m in 2024.
Among the various segments, Customer Relationship Management Software is projected to dominate the market with a volume of US$186.90m in 2024.
Over the period of 2024-2029, the market is anticipated to grow at an annual growth rate (CAGR) of 9.31%, resulting in a market volume of US$986.60m by 2029.
Moreover, the average Spend per Employee in the Enterprise Software market is estimated to reach US$19.66 in 2024.
In terms of global comparison, United States is expected to generate the highest revenue, amounting to US$150.50bn in 2024.
In Central Asia, the enterprise software market is experiencing a surge in demand as businesses strive to digitize their operations and increase 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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Market

Region

Region comparison

Currency

Analyst Opinion

Central Asia, a region that encompasses Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan, has been experiencing a steady growth in the Enterprise Software market.

Customer preferences: Central Asian customers are increasingly looking for software solutions that can help them streamline their business processes, improve their operational efficiency, and reduce costs. They are also looking for software that can be customized to meet their specific needs and requirements. Cloud-based solutions are becoming more popular, as they offer greater flexibility, scalability, and cost-effectiveness compared to on-premise solutions.

Trends in the market: Kazakhstan, the largest economy in Central Asia, is the most mature Enterprise Software market in the region. The country has a well-developed IT infrastructure and a large pool of IT professionals, which has attracted many international software vendors to establish a presence in the country. The demand for Enterprise Software in Kazakhstan is being driven by the country's growing economy, its focus on diversifying its economy away from oil and gas, and the government's efforts to modernize the country's infrastructure.Kyrgyzstan and Tajikistan are also experiencing growth in the Enterprise Software market, albeit at a slower pace. Both countries are investing in their IT infrastructure and are looking to attract foreign investment to help develop their economies. The demand for Enterprise Software in these countries is being driven by the need to modernize their business processes and improve their competitiveness.Uzbekistan, the most populous country in Central Asia, is also experiencing growth in the Enterprise Software market. The country has launched a series of economic reforms aimed at attracting foreign investment and improving the business environment. The demand for Enterprise Software in Uzbekistan is being driven by the need to improve the efficiency and productivity of its businesses.

Local special circumstances: Turkmenistan, the least developed country in Central Asia, has a small Enterprise Software market. The country's economy is heavily dependent on its natural resources, particularly gas, and the government has been slow to invest in its IT infrastructure. However, there are signs that the government is starting to recognize the importance of the IT sector and is taking steps to develop it.

Underlying macroeconomic factors: The Enterprise Software market in Central Asia is being driven by a number of macroeconomic factors, including the region's growing economies, increasing foreign investment, and government efforts to modernize their infrastructure. The region's strategic location between Europe and Asia also makes it an attractive market for international software vendors looking to expand their presence in the region. However, the market is still relatively small compared to other regions, and there are challenges related to the region's political stability, corruption, and lack of skilled IT professionals.

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.