Enterprise Software - Oman

Oman

Revenue in the Enterprise Software market is projected to reach US$55.24m in 2024.
Customer Relationship Management Software dominates the market with a projected market volume of US$16.77m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 3.45%, resulting in a market volume of US$65.44m by 2029.
The average Spend per Employee in the Enterprise Software market is projected to reach US$22.16 in 2024.
In global comparison, most revenue will be generated in the United States (US$150.50bn in 2024).

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.
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 consumers (B2C), 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 Oman has been experiencing significant growth in recent years.

Customer preferences: Omani businesses are increasingly adopting enterprise software to improve their efficiency and productivity. This trend is driven by a growing awareness of the benefits of digital transformation, including streamlined processes, improved data management, and enhanced collaboration. Additionally, many businesses are looking for solutions that can be customized to their specific needs, allowing them to optimize their operations and gain a competitive edge.

Trends in the market: One of the key trends in the Omani Enterprise Software market is the growing demand for cloud-based solutions. Cloud-based software offers businesses a range of benefits, including lower costs, greater flexibility, and improved scalability. As a result, many businesses are moving away from traditional on-premise solutions and adopting cloud-based alternatives.Another trend in the Omani market is the increasing use of mobile devices. Many businesses are looking for software solutions that can be accessed from smartphones and tablets, allowing employees to work remotely and stay connected while on the go. This trend is particularly relevant in Oman, where mobile penetration rates are among the highest in the region.

Local special circumstances: Oman is a small but rapidly growing market, with a relatively young population and a high level of technology adoption. The country's government has been investing heavily in building a digital economy, with a particular focus on promoting innovation and entrepreneurship. This has created a favorable environment for businesses looking to adopt new technologies, including enterprise software.

Underlying macroeconomic factors: The Omani economy has been growing steadily in recent years, driven by a combination of government spending, foreign investment, and a thriving oil and gas sector. This has created a favorable business environment, with many companies looking to invest in new technologies to drive growth and competitiveness. Additionally, Oman's strategic location and strong trade links with other countries in the region make it an attractive market for international software vendors looking to expand their footprint in the Middle East.

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.