Administrative Software - Laos | Statista Market Forecast

Laos is projected to see revenue in the Administrative Software market reach US$649.90k in 2024.
The country is expected to experience an annual growth rate (CAGR 2024-2029) of 1.68%, leading to a market volume of US$706.40k by 2029.
In comparison to other countries worldwide, United States is anticipated to generate the highest revenue in this market segment, with an estimated amount of US$7.44bn in 2024.
As Laos continues to modernize its administrative systems, there is a growing demand for user-friendly and localized administrative software solutions in the market.

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

The demand for Administrative Software in Laos has been on the rise in recent years.

Customer preferences: Laotian businesses have been increasingly relying on technology to streamline their operations and improve efficiency. Administrative Software has become a popular choice for companies looking to automate their administrative tasks and reduce the time and resources spent on manual processes. Small and medium-sized enterprises (SMEs) in particular have been adopting Administrative Software as a cost-effective solution to manage their operations.

Trends in the market: The Administrative Software market in Laos has been growing steadily, with a number of local and international players entering the market. Cloud-based solutions have become increasingly popular as they offer flexibility and scalability, allowing businesses to easily scale up or down depending on their needs. Mobile compatibility is also becoming an important feature as businesses look to manage their operations on-the-go.

Local special circumstances: Laos is a developing country with a relatively small market for Administrative Software. As a result, local providers have been focusing on developing solutions tailored to the needs of Laotian businesses. Many businesses in Laos have unique requirements, such as support for the Lao language and compliance with local regulations. Local providers have been able to offer customized solutions that meet these requirements, giving them an advantage over international competitors.

Underlying macroeconomic factors: Laos has been experiencing steady economic growth in recent years, with a focus on developing its infrastructure and attracting foreign investment. This has led to an increase in the number of businesses operating in the country, including SMEs. As these businesses grow and become more complex, the demand for Administrative Software is likely to continue to rise. However, Laos still faces challenges in terms of its digital infrastructure and workforce development, which could limit the growth of the Administrative Software market in the country.

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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