Enterprise Software - Lithuania

Lithuania

The Enterprise Software market in Lithuania is expected to generate a revenue of US$74.26m in 2024.
Among the various segments, Customer Relationship Management Software holds the dominant position with a projected market volume of US$21.64m in the same year.
The market is anticipated to exhibit a compound annual growth rate (CAGR 2024-2029) of 5.81%, resulting in a market volume of US$98.51m by 2029.
Furthermore, the average Spend per Employee is projected to reach US$48.24 in 2024.
In terms of global comparison, United States is expected to generate the highest revenue, reaching US$150.50bn in 2024.
Lithuania's thriving Enterprise Software market is fueled by its highly skilled tech workforce and supportive government policies.

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

The Enterprise Software market in Lithuania has been experiencing growth in recent years.

Customer preferences: Lithuanian customers have been showing a preference for cloud-based enterprise software solutions. This is due to the convenience and flexibility of cloud-based software, which allows for easy access to data from anywhere with an internet connection. Additionally, Lithuanian companies are increasingly interested in software solutions that can help them automate their business processes and improve efficiency.

Trends in the market: One trend in the Lithuanian Enterprise Software market is the increasing adoption of software solutions for human resources management. This is driven by the growing need for companies to manage their workforce more effectively, as well as the desire to automate HR processes such as recruitment, onboarding, and performance management. Another trend is the rising popularity of customer relationship management (CRM) software, as Lithuanian companies seek to improve their customer engagement and retention.

Local special circumstances: Lithuania is a small market with a limited number of large enterprises. As a result, the Enterprise Software market is dominated by small and medium-sized businesses. These companies are generally more price-sensitive than larger enterprises and are therefore more likely to opt for cloud-based solutions, which are often more affordable than on-premise software. Additionally, the Lithuanian government has been actively promoting the adoption of digital technologies, which has helped to drive demand for enterprise software solutions.

Underlying macroeconomic factors: Lithuania has a strong and growing economy, with a focus on technology and innovation. The country has a highly educated workforce and a favorable business environment, which has attracted foreign investment and helped to fuel the growth of the Enterprise Software market. Additionally, Lithuania's membership in the European Union has facilitated trade and investment, creating opportunities for Lithuanian companies to expand their operations and access new markets.

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.