Enterprise Software - Mongolia

Mongolia

The projected revenue in the Enterprise Software market in Mongolia is expected to reach US$88.24m by 2024.
Among the market segments, Customer Relationship Management Software dominates with a projected market volume of US$25.60m in 2024.
It is anticipated that the revenue will display an annual growth rate (CAGR 2024-2029) of 10.18%, resulting in a market volume of US$143.30m by 2029.
Furthermore, the average Spend per Employee in the Enterprise Software market is projected to reach US$63.30 in 2024.
In a global comparison, United States is expected to generate the highest revenue with US$150.50bn in 2024.
Mongolia's enterprise software market is rapidly expanding, driven by the country's increasing focus on digital transformation in key industries.

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

Mongolia, a country located in East Asia, is experiencing a steady growth in the Enterprise Software market.

Customer preferences: Mongolian businesses are increasingly adopting enterprise software to streamline their operations and improve efficiency. The demand for enterprise software is high among small and medium-sized enterprises (SMEs) as they seek to compete with larger corporations. The preference for cloud-based software solutions is also on the rise as it offers cost savings and flexibility.

Trends in the market: The Enterprise Software market in Mongolia is witnessing a shift towards industry-specific software solutions. Businesses are looking for software that caters to their specific needs and requirements. The demand for software solutions that offer automation, data analytics, and artificial intelligence is also increasing. The rise of e-commerce and the need for online payment solutions is driving the demand for software that offers secure payment gateways.

Local special circumstances: Mongolia's economy is heavily reliant on the mining industry, which has been a major driver of growth in recent years. As a result, the demand for enterprise software solutions in the mining sector is high. The government's efforts to promote economic diversification and support SMEs have also contributed to the growth of the Enterprise Software market. However, the country's underdeveloped IT infrastructure and shortage of skilled IT professionals pose a challenge to the growth of the market.

Underlying macroeconomic factors: Mongolia's economy has been growing steadily in recent years, driven by the mining industry and government-led initiatives to diversify the economy. The country's strategic location between China and Russia makes it an attractive destination for foreign investment. The government's efforts to improve the business environment and support SMEs have also contributed to the growth of the Enterprise Software market. However, the country's high inflation rate and dependence on commodity exports pose risks to the economy.

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.