Enterprise Software - Turkmenistan

Turkmenistan

In 2024, the Enterprise Software market in Turkmenistan is expected to reach a revenue of US$64.45m.
Among the various software categories, Customer Relationship Management Software is projected to dominate the market with a projected market volume of US$19.48m in 2024.
The revenue in the Enterprise Software market is anticipated to exhibit an annual growth rate (CAGR 2024-2029) of 9.89%, leading to a market volume of US$103.30m by 2029.
It is estimated that the average Spend per Employee in the Enterprise Software market will be US$30.77 in 2024.
In terms of global comparison, United States is expected to generate the highest revenue with US$150.50bn in 2024.
Turkmenistan's enterprise software market is experiencing rapid growth due to the government's push for digital transformation initiatives.

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

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:

Business Intelligence Software refers to software applications that support organizations to analyze, visualize, and report data.
Content Management Software refers to a wide range of software applications that support organizations to manage their digital content such as documents, images, and videos.
Customer Relationship Management Software refers to software applications that support organizations to manage their interactions with customers, clients, and prospects.
eCommerce Software refers to a wide range of software applications that support organizations to manage their online sales channels.
Enterprise Performance Management Software refers to software solutions that help organizations to manage and improve their performance across various areas, such as finance, operations, and strategy.
Enterprise Resource Planning Software refers to software applications that support organizations to manage, integrate and optimize important business activities related to resources such as people, finance, capital, materials, and orders.
Supply Chain Management Software refers to software applications that support organizations to manage their supply chain activities such as inventory optimization, supplier and vendor management, and logistic operations.
AI Development Tool Software refers to a specialized category of software designed to facilitate the creation, testing, deployment, and management of artificial intelligence (AI) models and applications.
Other Enterprise Software refers to aggregated revenues for the types of enterprise software that are not specifically mentioned in the other Enterprise Software markets, such as Project Management Software, Product Life Cycle Management Software, and Production and Operation 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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Analyst Opinion

Turkmenistan, a country located in Central Asia, has been experiencing a steady growth in its enterprise software market in recent years.

Customer preferences: Turkmenistan's enterprises are increasingly adopting enterprise software solutions to streamline their business processes, reduce errors, and enhance productivity. The demand for enterprise software is particularly high in the finance, healthcare, and education sectors. Enterprises in these sectors are looking for software solutions that can help them manage their operations efficiently, reduce costs, and improve customer service.

Trends in the market: One of the key trends in the enterprise software market in Turkmenistan is the increasing adoption of cloud-based solutions. Cloud-based solutions offer several advantages over traditional on-premises software, including lower costs, easier maintenance, and greater flexibility. As a result, more and more enterprises in Turkmenistan are turning to cloud-based solutions to meet their software needs.Another trend in the market is the growing popularity of mobile enterprise software solutions. With the increasing use of smartphones and tablets in the workplace, enterprises are looking for software solutions that can be accessed from anywhere, at any time. Mobile enterprise software solutions allow employees to access critical business information and perform tasks on the go, increasing productivity and efficiency.

Local special circumstances: Turkmenistan's enterprise software market is still in its early stages of development, and there are several challenges that enterprises face when adopting new software solutions. One of the biggest challenges is the lack of skilled IT professionals in the country. This makes it difficult for enterprises to implement and maintain complex software solutions. Another challenge is the limited availability of high-speed internet, which can slow down the adoption of cloud-based solutions.

Underlying macroeconomic factors: Turkmenistan's economy is heavily dependent on the oil and gas industry, which accounts for a significant portion of the country's GDP. However, the government has been taking steps to diversify the economy and promote the growth of other sectors, including the technology sector. This has created opportunities for software vendors to enter the market and offer their solutions to Turkmenistan's enterprises.In conclusion, the enterprise software market in Turkmenistan is growing steadily, driven by the increasing demand for cloud-based and mobile solutions. However, there are several challenges that enterprises face when adopting new software solutions, including the lack of skilled IT professionals and limited availability of high-speed internet. Despite these challenges, the government's efforts to diversify the economy and promote the growth of the technology sector present opportunities for software vendors to expand their presence in the country.

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.