Software - Morocco

Morocco

In 2024, the projected revenue in the Software market in Morocco is expected to reach US$362.00m.
The dominant player in this market segment is Enterprise Software , with a projected market volume of US$153.00m in the same year.
Looking ahead, the revenue is expected to grow at an annual rate of 5.63% (CAGR 2024-2029), resulting in a market volume of US$476.00m by 2029.
When compared globally, it is worth noting that United States is expected to generate the highest revenue in the Software market, with a projected amount of US$363.40bn in 2024.
Morocco's software market is experiencing a surge in demand for cloud-based solutions, driven by the country's growing digital economy.

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 Morocco has experienced significant growth in recent years, driven by a number of factors including increasing customer preferences for digital solutions, growing demand for software outsourcing services, and favorable local special circumstances.

Customer preferences: Moroccan customers are increasingly turning to digital solutions to meet their needs, driving demand for software products and services. This trend is particularly evident in the business sector, where companies are seeking to digitize their operations and improve their efficiency and competitiveness. Additionally, consumers are increasingly using software solutions for entertainment, communication, and other purposes.

Trends in the market: One of the key trends in the Moroccan software market is the growing demand for outsourcing services. Many local businesses are turning to outsourcing as a way to access high-quality software development services at a lower cost. This trend has been driven by the emergence of a number of local software development companies, as well as the availability of skilled software developers in the country.Another trend in the market is the increasing adoption of cloud-based software solutions. Moroccan businesses are increasingly recognizing the benefits of cloud-based solutions, such as scalability, flexibility, and cost-effectiveness. This trend is expected to continue as more businesses seek to digitize their operations and improve their efficiency.

Local special circumstances: Morocco's strategic location at the crossroads of Europe, Africa, and the Middle East has made it an attractive destination for software outsourcing services. The country has a well-educated and skilled workforce, with many young people pursuing careers in software development. Additionally, the Moroccan government has implemented a number of policies to support the development of the software industry, including tax incentives and funding for research and development.

Underlying macroeconomic factors: Morocco's economy has been growing steadily in recent years, driven by a number of factors including increased investment in infrastructure, tourism, and industry. This growth has created a favorable environment for the development of the software industry, as businesses seek to take advantage of new opportunities and improve their competitiveness. Additionally, Morocco's relatively low labor costs and favorable business environment have made it an attractive destination for foreign investors looking to outsource software development services.

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.