Software - Myanmar

Myanmar

Myanmar is expected to see a projected revenue of US$162.90m in the Software market by 2024.
The dominant player in this market segment is Enterprise Software , which is projected to reach a market volume of US$69.11m in the same year.
Looking ahead, the revenue is expected to grow at an annual rate of 7.24% between 2024 and 2029, resulting in a market volume of US$231.00m by 2029.
In comparison to other countries, United States is projected to generate the highest revenue of US$363.40bn in 2024.
Myanmar's software market is witnessing a surge in demand for mobile app development, driven by increasing smartphone penetration.

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

Myanmar, also known as Burma, is a Southeast Asian country with a population of over 54 million people. The Software market in Myanmar has been developing at a steady pace in recent years due to several underlying macroeconomic factors.

Customer preferences: Myanmar's Software market is mainly driven by the government's initiatives to promote digitalization in the country. The demand for Software solutions in Myanmar is increasing as more businesses and organizations are adopting digital technologies to streamline their operations. Moreover, the country's young population is tech-savvy and prefers to use Software solutions to enhance their daily lives.

Trends in the market: The Software market in Myanmar is witnessing several trends that are shaping its growth. One of the significant trends is the increasing adoption of cloud-based Software solutions. Cloud-based Software solutions offer several benefits, including flexibility, scalability, and cost-effectiveness, which are driving their demand in the country. Additionally, the Software market in Myanmar is witnessing an increase in the development of mobile applications. As the country has a high mobile penetration rate, businesses are developing mobile applications to reach a wider audience and enhance customer engagement.

Local special circumstances: Myanmar's Software market has several local special circumstances that are shaping its growth. One of the significant factors is the country's limited IT infrastructure. Myanmar has limited internet connectivity and low bandwidth, which is hindering the growth of the Software market in the country. However, the government is taking initiatives to improve the country's IT infrastructure, which is expected to boost the growth of the Software market in the coming years.

Underlying macroeconomic factors: Several underlying macroeconomic factors are driving the growth of the Software market in Myanmar. The country's economy is growing at a steady pace, and the government is taking initiatives to promote digitalization in the country. Additionally, Myanmar has a young population that is tech-savvy and prefers to use digital technologies. Moreover, the country has a low labor cost, which is attracting foreign investors to set up their Software development centers in the country.In conclusion, the Software market in Myanmar is witnessing steady growth due to several underlying macroeconomic factors, including the government's initiatives to promote digitalization, the country's young population, and the low labor cost. However, the country's limited IT infrastructure is hindering the growth of the Software market, but the government is taking initiatives to improve it, which is expected to boost the market's growth in the coming years.

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.