Enterprise Software - United Kingdom

  • United Kingdom
  • The United Kingdom is expected to witness a significant growth in the Enterprise Software market, with projected revenue reaching US$15.19bn by 2024.
  • Among the various software categories, Customer Relationship Management Software is set to dominate the market with a projected market volume of US$4.64bn in 2024.
  • This indicates the strong demand for CRM solutions in the United Kingdom.
  • Furthermore, the market is expected to exhibit a steady annual growth rate of 7.54% (CAGR 2024-2029), resulting in a market volume of US$21.85bn by 2029.
  • This signifies the sustained growth and opportunities in the Enterprise Software market sector.
  • Moreover, it is noteworthy that the average Spend per Employee in the United Kingdom's Enterprise Software market is projected to reach US$437.20 in 2024.
  • This highlights the importance and value that organizations in the country place on investing in software solutions to enhance their operations and productivity.
  • In terms of global comparison, United States is anticipated to generate the highest revenue in the Enterprise Software market, with a projected amount of US$15.19bn in 2024.
  • This showcases the dominance of the US market in the global software industry.
  • However, the United Kingdom's market is also poised for substantial growth and presents promising opportunities for both domestic and international software providers.
  • The United Kingdom is experiencing a surge in demand for enterprise software solutions, driven by the need for digital transformation and increased efficiency in the corporate sector.

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

 
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Analyst Opinion

The Enterprise Software market in United Kingdom has been experiencing steady growth in recent years.

Customer preferences:
As businesses continue to shift towards digitalization, there has been an increased demand for enterprise software solutions in United Kingdom. Companies are looking for software that can help them streamline their operations, increase efficiency, and reduce costs. Cloud-based solutions have become particularly popular as they offer flexibility, scalability, and cost-effectiveness.

Trends in the market:
One of the key trends in the Enterprise Software market in United Kingdom is the rise of Software-as-a-Service (SaaS) solutions. SaaS has become the preferred delivery model for many businesses due to its low upfront costs, easy scalability, and automatic updates. Another trend is the integration of Artificial Intelligence (AI) and Machine Learning (ML) in enterprise software solutions. AI and ML can help businesses automate routine tasks, improve decision-making, and enhance customer experience.

Local special circumstances:
Brexit has had a significant impact on the Enterprise Software market in United Kingdom. The uncertainty surrounding Brexit has led to a slowdown in investment and a decrease in business confidence. However, the UK government has been providing support to businesses by investing in digital infrastructure and promoting innovation. This has helped to mitigate some of the negative effects of Brexit on the Enterprise Software market.

Underlying macroeconomic factors:
The UK economy has been growing steadily in recent years, which has helped to drive demand for enterprise software solutions. The country has a highly skilled workforce and a strong technology sector, which has made it an attractive location for software companies. Additionally, the UK government has been investing in digital infrastructure and promoting innovation, which has helped to create a favorable environment for the Enterprise Software 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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