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:
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 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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Notes: Data was converted from local currencies using average exchange rates of the respective year.
Most recent update: Sep 2024
Source: Statista Market Insights
Notes: The chart “Comparable Estimates” shows the forecasted development of the selected market from different sources. Please see the additional information for methodology and publication date.
Most recent update: Jul 2024
Notes: Data was converted from local currencies using average exchange rates of the respective year.
Most recent update: Sep 2024
Source: Statista Market Insights
Most recent update: Mar 2024
Source: Statista Market Insights
Singapore, known for its advanced technology and innovation, has seen a significant growth in the Enterprise Software market.
Customer preferences: Enterprises in Singapore are increasingly adopting cloud-based software solutions due to their scalability, flexibility, and cost-effectiveness. Additionally, there is a growing demand for software that can integrate with existing systems, enhance productivity, and provide real-time data analytics.
Trends in the market: One of the key trends in the Enterprise Software market in Singapore is the rise of Artificial Intelligence (AI) and Machine Learning (ML) technologies. These technologies are being used to develop software solutions that can automate tasks, improve decision-making processes, and enhance customer experience. Another trend is the increasing popularity of Software-as-a-Service (SaaS) solutions, which offer a subscription-based model and can be accessed from anywhere with an internet connection. Furthermore, there is a growing demand for Industry-specific software solutions, such as those tailored to the healthcare or finance sector.
Local special circumstances: Singapore's government has been actively promoting the adoption of technology and innovation in various industries. The government's initiatives, such as the Smart Nation program, have encouraged enterprises to digitize their operations and embrace new technologies. Additionally, Singapore's strategic location and business-friendly environment have made it an attractive destination for multinational corporations to set up their regional headquarters.
Underlying macroeconomic factors: Singapore's strong economic growth and stable political environment have contributed to the development of the Enterprise Software market. The country's highly skilled workforce and advanced infrastructure have also made it an ideal location for technology companies to invest and expand their operations. Furthermore, Singapore's position as a gateway to the Asia-Pacific region has made it a strategic location for businesses looking to expand their presence in the region.
Notes: Data was converted from local currencies using average exchange rates of the respective year.
Most recent update: Sep 2024
Sources: Statista Market Insights, Financial Statements of Key Players, National statistical offices
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.Notes: Based on data from IMF, World Bank, UN and Eurostat
Most recent update: Sep 2024
Source: Statista Market Insights
These activities are planned and put into stages in a logical order, a process known as the software development life cycle (SDLC) or software development. The SDLC often includes six stages: requirement analysis, design, development, testing, implementation, documentation, and evolution. Programming languages such as JavaScript and C++ are used to create software, with JavaScript being the most popular programming language in 2023 and used by roughly 65 percent of software developers.