Other Enterprise Software - Armenia

Armenia is projected to witness a substantial growth in the Other Enterprise Software market, with revenue reaching US$6.94m in 2024.
This indicates a positive outlook for the country's software industry.
Additionally, the market is expected to display a steady annual growth rate (CAGR 2024-2029) of 5.76%, resulting in a market volume of US$9.18m by 2029.
Furthermore, it is worth noting that the average Spend per Employee in the Other Enterprise Software market is anticipated to reach US$5.01 in 2024.
This metric showcases the level of investment per employee within the industry.
In terms of global comparison, United States is set to generate the highest revenue in the Other Enterprise Software market, with an estimated figure of US$32.46bn in 2024.
This highlights the dominance of the US market in this particular segment.
Armenia's Other Enterprise Software market is thriving, with a growing number of local startups developing innovative solutions for businesses.

Definition:

The Other Enterprise Software market covers aggregated revenues for the types of enterprise software that are not specifically mentioned in the other subsegments Enterprise software segment. These include, for example, Project Management Software, Product Life Cycle Management Software, and Production and Operation Software.

Products in the Other 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.

Additional Information:

The Other Enterprise Software market comprises revenue and revenue growth as the key performance indicators. Only the 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 the revenues generated by resellers are excluded. Revenues are generated through both online and offline sales channels and include spending by enterprises (B2B) and governments (B2G).

Key players in this market include SAP, Oracle, Atlassian, and ServiceNow.

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Content applications, such as Adobe Experience Manager, Semrush, and HubSpot
Performance management applications, such as PerformYard, Workday, and Monday
Workforce management software, such as ADP Workforce Now, BambooHR, and Zoho People

Enterprise resource planning software, such as Odoo, SAP Business One, NetSuite, and Microsoft Dynamics 365
Customer relationship management software, such as Salesforce Sales Cloud, Monday sales CRM, and HubSpot CRM
Business intelligence software, such as Toast, Heap, and insightsoftware
Supply chain management software, such as Anvyl, Tada, and Magaya Supply Chain
Custom applications, such as Sphinx Solutions, CHI Software, and Intellectsoft

The Other Enterprise Software market in Armenia has been experiencing steady growth in recent years.

Customer preferences: Armenian businesses are increasingly turning to Other Enterprise Software solutions to streamline their operations and increase efficiency. This is driven in part by the growing availability of cloud-based solutions, which offer lower upfront costs and greater flexibility than traditional on-premise software. Additionally, businesses are looking for software solutions that can integrate with their existing systems and provide real-time data insights.

Trends in the market: One of the key trends in the Other Enterprise Software market in Armenia is the increasing adoption of mobile solutions. As more and more businesses rely on mobile devices for day-to-day operations, demand for mobile-friendly software solutions has grown. This trend is expected to continue as mobile devices become even more ubiquitous in the workplace.Another trend in the market is the growing popularity of Software as a Service (SaaS) solutions. SaaS offers a number of benefits to businesses, including lower costs, greater scalability, and easier maintenance. As a result, many Armenian businesses are turning to SaaS solutions for their enterprise software needs.

Local special circumstances: Armenia has a thriving technology sector, with a number of startups and established companies specializing in software development. This has helped to drive innovation in the Other Enterprise Software market, with local companies developing cutting-edge solutions tailored to the needs of Armenian businesses.

Underlying macroeconomic factors: Armenia has a relatively small economy, but it has been growing steadily in recent years. This growth has been driven in part by the country's technology sector, which has become an increasingly important part of the economy. As the economy continues to grow, demand for enterprise software solutions is likely to increase, providing further opportunities for companies in the Other Enterprise Software market. Additionally, Armenia's strategic location at the crossroads of Europe and Asia makes it an attractive market for companies looking to expand into new regions.

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.

This report presents a comprehensive analysis and additional information on the Technology market, in a PDF format.

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