Administrative Software - Armenia

Armenia's Administrative Software market is expected to witness significant growth in the coming years.
By 2024, the projected revenue is estimated to reach US$2.06m.
This indicates a positive growth trend, with an annual growth rate (CAGR 2024-2029) of 5.75%.
As a result, the market volume is anticipated to reach US$2.73m by 2029.
In terms of global comparison, it is worth noting that United States is expected to generate the highest revenue in the Administrative Software market.
In 2024 alone, the revenue is projected to reach a staggering US$7.44bn.
This highlights the dominant position of the United States in this market segment.
Armenia's administrative software market is thriving, with local companies developing innovative solutions to streamline government processes.

Definition:

The Administrative Software market covers software applications that are used to manage various administrative tasks and processes within an organization such as administration of IT infrastructure, standalone (non-ERP based) human resources management, and payroll management.

Products in the Administrative 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.

Additional Information:

The Administrative 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).

Key players in this market include Workday, Intuit, and ServiceNow.

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Core HR-software, such as Personio, BambooHR, and RUN Powered by ADP
Payroll software, such as Paycor, Gusto, and Paychex
Learning & development software, such as Docebo and Adobe Learning Manager
Compliance software, such as SiteDocs, Skillcast, and Netwrix

Talent acquisition, such as Lever, Greenhouse, and Zoho Recruit
Workforce management, such as ADP Workforce Now, BambooHR, and Zoho People

Armenia, a small country located in the South Caucasus region, has been experiencing a steady growth in the administrative software market.

Customer preferences: Armenian businesses have a strong preference for administrative software that is cost-effective, easy to use, and customizable to their specific needs. Many businesses are also looking for software that can integrate with other systems and provide real-time data analysis. Cloud-based solutions are becoming increasingly popular due to their affordability and accessibility.

Trends in the market: One of the main trends in the Armenian administrative software market is the shift towards cloud-based solutions. This is due to the lower cost of ownership and the ability to access information from anywhere with an internet connection. Another trend is the increasing demand for software that can automate administrative tasks such as invoicing, payroll, and inventory management. Finally, there is a growing interest in software that can analyze data and provide insights to help businesses make better decisions.

Local special circumstances: Armenia has a small but growing tech industry, with a number of startups and established companies developing administrative software. The country's location between Europe and Asia also makes it an attractive market for companies looking to expand their presence in the region. However, the market is still relatively small and fragmented, with a large number of small and medium-sized businesses that may not have the resources to invest in expensive software solutions.

Underlying macroeconomic factors: Armenia has been experiencing steady economic growth in recent years, with a focus on developing its technology sector. The government has implemented a number of policies to support the tech industry, including tax incentives and funding for startups. However, the country still faces challenges such as corruption, political instability, and a lack of access to capital. These factors could impact the growth of the administrative software market in the future.

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.

This report presents a comprehensive analysis and additional information on the Technology market, in a PDF format.

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These activities are planned and put into stages in a logical order, a process known as the software development life cycle (SDLC) or software development. The SDLC often includes six stages: requirement analysis, design, development, testing, implementation, documentation, and evolution. Programming languages such as JavaScript and C++ are used to create software, with JavaScript being the most popular programming language in 2023 and used by roughly 65 percent of software developers.