Key regions: South Korea, China, Canada, United States, United Kingdom
The Other Enterprise Software market in Eastern Asia has been rapidly developing in recent years, driven by a variety of factors unique to the region.
Customer preferences: Customers in Eastern Asia have shown a strong preference for cloud-based solutions, which provide greater flexibility and scalability than traditional on-premises software. Additionally, there is a growing demand for software that can be easily integrated with existing systems and can support mobile devices.
Trends in the market: In China, the Other Enterprise Software market has been dominated by domestic players, who have leveraged their deep understanding of local business practices and regulations to gain market share. However, international vendors are increasingly entering the market, attracted by the country's large and rapidly growing economy. In Japan, the market is more mature, with a focus on software for specific industries such as manufacturing and healthcare. South Korea has seen a surge in demand for software related to e-commerce and digital marketing, as the country continues to embrace new technologies.
Local special circumstances: One unique aspect of the Eastern Asian market is the prevalence of government initiatives aimed at promoting the development of the technology sector. For example, China's Made in China 2025 plan has set ambitious targets for the country to become a leader in advanced manufacturing technologies, which has driven demand for software that can support these goals. Additionally, many countries in the region have highly skilled workforces and strong education systems, which has helped to create a favorable environment for technology companies.
Underlying macroeconomic factors: The rapid growth of the Other Enterprise Software market in Eastern Asia can be attributed in part to the region's strong economic performance. Countries such as China, Japan, and South Korea have all experienced sustained periods of economic growth, which has created a favorable environment for businesses to invest in technology. Additionally, the region's large population and growing middle class have created a significant market for enterprise software solutions.
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.
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