Enterprise Software - Western Asia

Western Asia

Revenue in the Enterprise Software market is projected to reach US$7.19bn in 2024.
Customer Relationship Management Software dominates the market with a projected market volume of US$2.32bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 6.45%, resulting in a market volume of US$9.83bn by 2029.
The average Spend per Employee in the Enterprise Software market is projected to reach US$86.59 in 2024.
In global comparison, most revenue will be generated in the United States (US$150.50bn in 2024).

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.
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 consumers (B2C), 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

The demand for enterprise software in Western Asia has been steadily increasing over the years.

Customer preferences: Customers in Western Asia are increasingly looking for enterprise software that can improve their business processes and increase efficiency. They prefer software that is easy to use, customizable, and can be integrated with other systems. Additionally, there is a growing demand for cloud-based software solutions that can be accessed from anywhere.

Trends in the market: One of the major trends in the enterprise software market in Western Asia is the increasing adoption of artificial intelligence (AI) and machine learning (ML) technologies. These technologies are being used to automate various business processes, such as customer service, supply chain management, and financial analysis. Another trend is the rise of mobile enterprise applications, which allow employees to access business-critical information from their smartphones or tablets.

Local special circumstances: The enterprise software market in Western Asia is also influenced by local special circumstances. For example, the region has a large number of small and medium-sized enterprises (SMEs) that are looking for affordable software solutions that can meet their specific needs. Additionally, there is a growing need for software that can support Arabic language and comply with local regulations.

Underlying macroeconomic factors: The growth of the enterprise software market in Western Asia can be attributed to several underlying macroeconomic factors. For one, the region has a young and tech-savvy population that is driving demand for digital solutions. Additionally, governments in the region are investing heavily in digital infrastructure and promoting entrepreneurship, which is creating a favorable environment for the growth of the software industry. Finally, the region's strategic location between Europe and Asia makes it an attractive destination for multinational companies looking to expand their operations.

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.