Other Enterprise Software - Serbia

The revenue in the Other Enterprise Software market in Serbia is projected to reach US$13.53m in 2024.
It is expected to show an annual growth rate (CAGR 2024-2029) of 7.13%, resulting in a market volume of US$19.09m by 2029.
The average Spend per Employee in the Other Enterprise Software market is projected to reach US$4.17 in 2024.
In global comparison, United States is expected to generate the most revenue, reaching US$32.46bn in 2024.
Serbia's Other Enterprise Software market is experiencing rapid growth due to the country's strong IT talent pool and favorable cost competitiveness.

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 Serbia has been experiencing steady growth in recent years.

Customer preferences: Serbian businesses are increasingly looking for software solutions that can help them streamline their operations and increase efficiency. As a result, there is a growing demand for Other Enterprise Software, which includes solutions such as project management software, supply chain management software, and customer relationship management software. These solutions are designed to help businesses automate processes, reduce errors, and improve communication.

Trends in the market: One of the key trends in the Other Enterprise Software market in Serbia is the increasing adoption of cloud-based solutions. Cloud-based software is becoming more popular because it offers businesses greater flexibility and scalability than traditional on-premise solutions. Cloud-based software is also typically more affordable, which makes it an attractive option for small and medium-sized businesses in Serbia.Another trend in the market is the growing importance of data analytics. Many businesses in Serbia are realizing the value of data-driven decision making, and are looking for software solutions that can help them collect, analyze, and visualize data. This has led to an increased demand for business intelligence and analytics software.

Local special circumstances: One of the unique challenges facing the Other Enterprise Software market in Serbia is the relatively low level of digitalization in the country. While many businesses are beginning to adopt digital solutions, there is still a significant portion of the market that relies on paper-based processes. This presents an opportunity for software companies to offer solutions that can help businesses transition to digital processes.

Underlying macroeconomic factors: Serbia's economy has been growing steadily in recent years, which has helped to drive demand for Other Enterprise Software. The country's membership in the European Union has also made it an attractive market for software companies looking to expand their operations in the region. Additionally, the government has been implementing a range of economic reforms aimed at improving the business environment and attracting foreign investment, which has helped to create a favorable climate for software companies operating in Serbia.

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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