Enterprise Software - Montenegro

Montenegro

The Enterprise Software market in Montenegro is estimated to generate a revenue of US$36.82m by 2025.
Among the various software categories, Customer Relationship Management Software is set to dominate the market, with a projected market volume of US$11.21m in the same year.
The market is expected to exhibit a compound annual growth rate (CAGR 2025-2029) of 7.24%, resulting in a market volume of US$48.69m by 2029.
Furthermore, the average Spend per Employee in the Enterprise Software market is projected to reach US$125.00 in 2025.
In a global context, United States is anticipated to generate the highest revenue, estimated at US$159.40bn in 2025.
Montenegro's enterprise software market is rapidly growing, with local businesses embracing innovative solutions to streamline their operations.

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

Montenegro, a small country in Southeast Europe, has been experiencing a steady growth in the Enterprise Software market in recent years.

Customer preferences: Montenegro's Enterprise Software market is largely driven by the demand for cloud-based solutions. Customers in Montenegro prefer cloud-based software due to its flexibility, scalability, and cost-effectiveness. Additionally, there is a growing demand for software solutions that can be easily integrated with existing systems, allowing for seamless data sharing and analysis.

Trends in the market: One of the key trends in Montenegro's Enterprise Software market is the rise of artificial intelligence (AI)-powered solutions. AI-powered software is becoming increasingly popular in Montenegro, particularly in industries such as finance, healthcare, and manufacturing. These solutions are helping companies automate tasks, improve decision-making, and enhance overall efficiency.Another trend in Montenegro's Enterprise Software market is the increasing popularity of mobile applications. With the rise of mobile devices, businesses in Montenegro are looking to provide their employees and customers with mobile-friendly software solutions. This trend is particularly evident in industries such as retail and hospitality, where mobile applications can improve customer experience and streamline operations.

Local special circumstances: Montenegro's small size and relatively underdeveloped economy have created a unique set of circumstances for the Enterprise Software market. While the market is growing, it is still relatively small compared to other European countries. This has led to a focus on niche software solutions that cater to specific industries or business needs. Additionally, the country's location and proximity to other Balkan countries have made it an attractive destination for software development outsourcing.

Underlying macroeconomic factors: Montenegro's growing Enterprise Software market can be attributed to several underlying macroeconomic factors. The country's favorable business climate, low taxes, and strategic location have made it an attractive destination for foreign investment. Additionally, the government has made significant investments in infrastructure and technology, creating a supportive environment for software development and innovation. Finally, Montenegro's increasing integration with the European Union has opened up new opportunities for businesses in the country, including access to new markets and funding opportunities.

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.