Administrative Software - Estonia

The Administrative Software market in Estonia is anticipated to witness a significant growth in revenue, with projections indicating a reach of US$2.40m in 2024.
This growth is expected to continue steadily, with an annual growth rate (CAGR 2024-2029) of 3.62%, resulting in a market volume of US$2.87m by 2029.
When compared globally, it is noteworthy that United States is expected to generate the highest revenue in this market segment, with an estimated amount of US$7.44bn in 2024.
Estonia's thriving tech ecosystem and digital government initiatives have propelled the demand for administrative software solutions in the country.

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

Administrative software is an essential tool for businesses to manage their day-to-day operations. In Estonia, the market for administrative software has been steadily growing over the past few years.

Customer preferences: Estonian businesses have been increasingly adopting administrative software as a means of streamlining their operations. The software allows them to automate tasks such as invoicing, inventory management, and payroll, freeing up time for other important tasks. Additionally, the software can be customized to meet the unique needs of each business, making it a popular choice for companies of all sizes.

Trends in the market: One of the key trends in the administrative software market in Estonia is the shift towards cloud-based solutions. This allows businesses to access their data from anywhere, at any time, and eliminates the need for expensive hardware and IT support. Another trend is the integration of artificial intelligence and machine learning into administrative software, which can help businesses automate even more tasks and improve decision-making.

Local special circumstances: Estonia is known for its highly digitalized economy, with many businesses operating entirely online. This has created a strong demand for administrative software that can help them manage their operations efficiently. Additionally, the country has a large number of startups and small businesses, which often have limited resources and require cost-effective solutions.

Underlying macroeconomic factors: Estonia has a strong economy, with a high level of digitalization and a favorable business environment. This has attracted many foreign companies to set up operations in the country, which has in turn driven demand for administrative software. Additionally, the government has been supportive of the tech industry, investing in infrastructure and providing incentives for businesses to innovate and grow.

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.