Key regions: France, South Korea, Germany, United Kingdom, Netherlands
Administrative software, a tool that helps in managing and automating business operations, is gaining popularity in Ghana.
Customer preferences: Ghanaian businesses are increasingly adopting administrative software to streamline their operations and increase efficiency. Small and medium-sized enterprises (SMEs) are the primary customers of administrative software in Ghana. These businesses are looking for affordable and user-friendly solutions that can help them manage their day-to-day operations effectively.
Trends in the market: There is a growing trend of cloud-based administrative software in Ghana. Cloud-based solutions offer businesses the flexibility to access their data from anywhere, anytime, and on any device. This trend is driven by the increasing availability of reliable internet connectivity and the need for remote work solutions due to the COVID-19 pandemic.Another trend in the market is the integration of artificial intelligence (AI) and machine learning (ML) into administrative software. These technologies can help automate routine tasks, reduce errors, and provide valuable insights into business operations.
Local special circumstances: Ghana has a large number of SMEs, which account for more than 70% of the country's GDP. These businesses are the backbone of the Ghanaian economy, and they are driving the demand for administrative software. However, these businesses often face challenges such as limited access to financing, inadequate infrastructure, and a shortage of skilled labor. Administrative software can help these businesses overcome some of these challenges by increasing efficiency and reducing costs.
Underlying macroeconomic factors: Ghana's economy has been growing steadily over the past few years, with an average annual growth rate of around 6%. This growth has been driven by the country's natural resources, such as gold, oil, and cocoa. However, the COVID-19 pandemic has had a significant impact on the Ghanaian economy, leading to a contraction of around 1% in 2020. Despite this, the long-term outlook for the Ghanaian economy remains positive, and the demand for administrative software is expected to continue to 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.
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