Software - Namibia

Namibia

Revenue in the Software market is projected to reach US$33.44m in 2024.
Enterprise Software dominates the market with a projected market volume of US$14.19m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 5.03%, resulting in a market volume of US$42.73m by 2029.
In global comparison, most revenue will be generated in the United States (US$363.40bn in 2024).

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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Market

Region

Region comparison

Currency

Analyst Opinion

Namibia is a country that has been experiencing a steady growth in the software market. The country has a population of over 2.5 million people, with a majority of them being young and tech-savvy. The software market in Namibia has been growing steadily due to a number of factors.

Customer preferences: Customers in Namibia prefer software that is easy to use and affordable. They also prefer software that is compatible with their devices, especially mobile phones. Due to the high rate of mobile phone usage in the country, software developers have been focusing on developing mobile applications that are user-friendly and affordable.

Trends in the market: One of the trends in the software market in Namibia is the development of cloud-based software. This trend has been driven by the need for businesses to store their data securely and access it from anywhere. Another trend is the development of software that is specific to the needs of the local market. This includes software that caters to the needs of small businesses, farmers, and the tourism industry.

Local special circumstances: Namibia is a country that is heavily dependent on the tourism industry. This has led to the development of software that caters to the needs of tourists. This includes software that helps tourists find accommodation, plan their itineraries, and book tours. Another special circumstance is the high rate of mobile phone usage in the country. This has led to the development of mobile applications that cater to the needs of the local market.

Underlying macroeconomic factors: Namibia is a country that has been experiencing steady economic growth. This has led to an increase in the number of businesses in the country, which in turn has led to an increase in demand for software. The government has also been investing in the development of the ICT sector, which has led to the growth of the software market. Additionally, the country has a young and tech-savvy population, which has contributed to the growth of the software market.

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.