Enterprise Software - Denmark

Denmark

Highlights

Denmark is expected to witness substantial growth in the Enterprise Software market, with projected revenue reaching US$1.66bn in 2024.
Among the various segments, Customer Relationship Management Software is set to dominate the market, with a projected market volume of US$490.90m in 2024.
The market is anticipated to display a steady annual growth rate (CAGR 2024-2029) of 4.76%, resulting in a market volume of US$2.09bn by 2029.
Furthermore, the average Spend per Employee in the Enterprise Software market is estimated to reach US$508.80 in 2024.
It is worth noting that in a global comparison, United States is expected to generate the highest revenue, amounting to US$150.50bn in 2024.
Denmark's thriving enterprise software market is driven by a strong focus on innovation and digital transformation.

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

Denmark, a Scandinavian country known for its high standard of living and strong welfare state, has a thriving enterprise software market.

Customer preferences: Danish companies have a strong preference for enterprise software that can streamline their business processes and improve efficiency. Cloud-based solutions are increasingly popular as they offer flexibility and scalability. Additionally, Danish companies place a high value on data security and are willing to pay a premium for software that offers strong encryption and other security features.

Trends in the market: One notable trend in the Danish enterprise software market is the increasing focus on sustainability and corporate social responsibility. Many companies are seeking software solutions that can help them reduce their carbon footprint and meet sustainability goals. Another trend is the growing demand for software that can help companies comply with GDPR regulations. As data privacy becomes an increasingly important issue, Danish companies are looking for software that can help them manage and protect customer data in compliance with GDPR guidelines.

Local special circumstances: Denmark's small size and high level of digitalization make it an ideal market for enterprise software companies. The country has a highly educated workforce and a strong tradition of innovation, which has led to the development of many successful software companies. Additionally, Denmark's strong welfare state means that companies have access to a highly skilled workforce and generous government support for research and development.

Underlying macroeconomic factors: Denmark's strong economy and high level of digitalization have contributed to the growth of the enterprise software market. The country has a highly skilled workforce and a business-friendly regulatory environment, which has attracted many international companies to set up operations in Denmark. Additionally, Denmark's focus on sustainability and corporate social responsibility has created opportunities for software companies that specialize in these areas. Overall, the enterprise software market in Denmark is expected to continue to grow as companies seek to improve efficiency, streamline business processes, and meet sustainability and data privacy goals.

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.