Enterprise Software - Serbia

  • Serbia
  • The Enterprise Software market in Serbia is expected to achieve a revenue of US$85.16m in 2024.
  • Among the various segments, Customer Relationship Management Software is predicted to dominate the market, with a projected market volume of US$25.13m in the same year.
  • The revenue in the Enterprise Software market is anticipated to exhibit a compound annual growth rate (CAGR) of 10.31% from 2024 to 2029, resulting in a market volume of US$139.10m by 2029.
  • Moreover, the average Spend per Employee in the Enterprise Software market is estimated to reach US$26.22 in 2024.
  • In comparison to other countries worldwide, United States is expected to generate the highest revenue amounting to US$150.50bn in 2024.
  • Serbia is experiencing a surge in demand for enterprise software as companies seek to optimize their operations and increase efficiency.

Key regions: France, United Kingdom, Australia, Canada, South Korea

 
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Analyst Opinion

Serbia, located in Southeast Europe, has been experiencing a steady growth in the Enterprise Software market over the past few years.

Customer preferences:
Serbian businesses are increasingly adopting Enterprise Software solutions to improve their operational efficiency and stay competitive in the global market. Many companies are looking for software that can help them automate their processes and manage their data more effectively. Cloud-based solutions are becoming more popular due to their flexibility and cost-effectiveness.

Trends in the market:
One of the key trends in the Enterprise Software market in Serbia is the growing demand for ERP (Enterprise Resource Planning) systems. These solutions are designed to help businesses manage their core processes, such as finance, accounting, and inventory management. Another trend is the increasing adoption of CRM (Customer Relationship Management) software, which helps businesses manage their interactions with customers and improve their overall customer experience.

Local special circumstances:
One of the unique challenges facing the Enterprise Software market in Serbia is the relatively low level of IT infrastructure in the country. This means that many businesses may not have the necessary hardware or network capabilities to support certain software solutions. Additionally, there is a shortage of skilled IT professionals in the country, which can make it difficult for businesses to implement and maintain complex software systems.

Underlying macroeconomic factors:
Serbia has been experiencing steady economic growth in recent years, which has contributed to the growth of the Enterprise Software market. The government has been investing in infrastructure and promoting foreign investment, which has helped to create a more favorable business environment. Additionally, Serbia's accession to the EU has opened up new opportunities for businesses in the country, and many companies are looking to adopt Enterprise Software solutions to stay competitive in the global market.

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.

Overview

  • Revenue
  • Key Players
  • Analyst Opinion
  • Global Comparison
  • Methodology
  • Key Market Indicators
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