Enterprise Software - Ghana

Ghana

In 2024, the Enterprise Software market in Ghana is expected to generate a revenue of US$121.00m.
Among the various software categories, Customer Relationship Management Software is projected to dominate the market with a market volume of US$36.84m in the same year.
Looking ahead, the revenue is anticipated to grow at an annual growth rate of 7.83% (CAGR 2024-2029), resulting in a market volume of US$176.40m by 2029.
Additionally, the average spend per employee in the Enterprise Software market is projected to reach US$8.01 in 2024.
It is important to note that in a global comparison, United States is expected to generate the highest revenue with US$150.50bn in 2024.
Ghana's enterprise software market is experiencing a surge in demand as businesses embrace digital transformation to enhance their operational 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

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Currency

Analyst Opinion

The Enterprise Software market in Ghana has been experiencing a steady growth in recent years.

Customer preferences: Ghanaian businesses have been increasingly adopting enterprise software solutions to streamline their operations and improve efficiency. This is driven by the need to stay competitive in the global market and the desire to leverage technology to enhance business performance. Cloud-based solutions have become particularly popular due to their flexibility, scalability, and cost-effectiveness.

Trends in the market: The Enterprise Software market in Ghana is witnessing a shift towards more specialized solutions that cater to specific business needs. This trend is driven by the increasing complexity of business operations and the need for software solutions that can handle specific tasks such as supply chain management, customer relationship management, and human resource management. Another trend is the rise of mobile enterprise software solutions, which enable businesses to access critical data and functionality on-the-go.

Local special circumstances: The Ghanaian market is characterized by a large number of small and medium-sized enterprises (SMEs), which make up the majority of businesses in the country. These SMEs often have limited resources and require cost-effective software solutions that can help them compete with larger firms. Additionally, the Ghanaian market is heavily regulated, which presents challenges for software vendors operating in the country.

Underlying macroeconomic factors: The growth of the Enterprise Software market in Ghana is underpinned by a number of macroeconomic factors. Ghana has experienced stable economic growth in recent years, driven by a diversified economy and a stable political environment. Additionally, the country has a young and growing population, which presents opportunities for businesses in various sectors, including the technology sector. The government has also been investing in infrastructure development, which has helped to create an enabling environment for businesses to thrive.

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.