Software - Mauritius

Mauritius

In Mauritius, the revenue in the Software market is forecasted to reach US$173.60m in 2024.
The market is mainly dominated by Enterprise Software , which is projected to have a market volume of US$70.30m in the same year.
Looking ahead, the revenue is expected to exhibit an annual growth rate (CAGR 2024-2029) of 6.90%, resulting in a market volume of US$242.40m by 2029.
In terms of global comparison, United States is anticipated to generate the highest revenue, with an estimated amount of US$363.40bn in 2024.
Mauritius is experiencing a surge in demand for software development services, attracting both local and international clients.

Key regions: United States, Canada, Germany, China, Japan

Definition:

In general, software is defined as a set of instructions written as programming code to execute specific tasks on a computing device. The Software market covers a wide range of software products and solutions that are publicly sold by various companies. Most software solutions in this market are designed for professional use, but some can also be suitable for personal use. They can also range from basic productivity tools such as word processors and spreadsheets to complex software solutions such as project management tools, graphic design software, and enterprise resource planning software.

Products in the 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 market contains four markets that are based on the functionality of the software:

Productivity Software refers to application software that supports activities such as producing documents, spreadsheets, drawings, and presentations. This market includes Administrative Software, Collaboration Software, Office Software, Creative Software, and Construction and Design Software.
Enterprise Software refers to all software that supports essential large-scale business activities such as enterprise resource management, customer management, and supply chain activities. This market includes Enterprise Resource Planning Software, Customer Relationship Management Software, Business Intelligence Software, Supply Chain Management Software, Content Management Software, and Other Enterprise Software.
Application Development Software refers to software and tools that help the overall application development process.
System Infrastructure Software refers to software that provides the base framework for operating and managing organizational processes and services on hardware devices.

Additional Information:

The Software market comprises revenue and revenue change 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 Microsoft, Adobe, SAP, Oracle, and Salesforce.

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Analyst Opinion

The Software market in Mauritius has been experiencing steady growth in recent years.

Customer preferences: Mauritius has a diverse economy with several industries contributing to its GDP. The demand for software varies across these industries. However, there is a growing trend towards the adoption of cloud-based software solutions, which offer greater flexibility and scalability. Small and medium-sized enterprises (SMEs) are also increasingly turning to software solutions to streamline their operations and improve efficiency.

Trends in the market: The software market in Mauritius is dominated by multinational companies, with local players accounting for a smaller share. However, there has been a recent trend towards the growth of local software development companies. These companies are leveraging Mauritius' skilled workforce, which is proficient in several programming languages, to develop software solutions tailored to the local market. Additionally, there has been a growing interest in the development of mobile applications, as more consumers in Mauritius are using smartphones.

Local special circumstances: Mauritius has a small market size, which presents challenges for software companies looking to expand. However, the country's strategic location and business-friendly environment make it an attractive destination for software development and outsourcing. Additionally, the government has been actively promoting the country as an ICT hub, with several initiatives aimed at developing the sector.

Underlying macroeconomic factors: Mauritius has a stable political environment and a well-developed financial system, which has contributed to its economic growth. Additionally, the country has a well-educated and skilled workforce, which is proficient in several programming languages. The government has also been investing in ICT infrastructure, including high-speed internet connectivity and data centers, to support the growth of the sector. These factors have created an enabling environment for the growth of the software market in Mauritius.

Methodology

Data coverage:

The data encompasses B2B, B2G, and B2C enterprises, except for the Enterprise Software segment, in which consumer (B2C) spending is not considered. Figures are based on the allocation to the country where the money was spent at manufacturer price level (excluding VAT).

Modeling approach / Market size:

Market sizes are determined through a top-down approach with a bottom-up validation, building on a specific rationale for each market segment. As a basis for evaluating markets, we use annual financial reports of the market-leading companies and reports from our primary research. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, level of digitization, GDP sector composition, and observed level of software piracy. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. 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.