Administrative Software - Malawi | Statista Market Forecast

In Malawi, the revenue in the Administrative Software market is estimated to reach US$501.70k in 2024.
The market is expected to grow at a compound annual growth rate (CAGR 2024-2029) of 2.07%, leading to a market volume of US$555.80k by 2029.
When compared globally, United States is projected to generate the highest revenue in this market segment, amounting to US$7.44bn in 2024.
Malawi's administrative software market is experiencing steady growth, driven by the government's efforts to modernize their administrative 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

The Administrative Software market in Malawi has been steadily developing over the past few years.

Customer preferences: The Malawian market has shown a preference for cloud-based administrative software solutions. This preference can be attributed to the increasing accessibility of the internet and the need for businesses to have remote access to their administrative data. Additionally, there has been a growing demand for administrative software solutions that are user-friendly and require minimal technical expertise.

Trends in the market: One of the major trends in the Malawian administrative software market is the increasing adoption of mobile-based solutions. This trend can be attributed to the high mobile penetration rate in Malawi, which stands at over 40%. As a result, businesses are increasingly seeking administrative software solutions that can be accessed on mobile devices. Another trend in the market is the growing demand for software solutions that are tailored to the specific needs of small and medium-sized enterprises (SMEs). This is due to the fact that SMEs make up a significant portion of the Malawian economy, and there is a need for affordable and scalable administrative software solutions that can cater to their needs.

Local special circumstances: One of the unique characteristics of the Malawian market is the prevalence of informal businesses. These businesses often operate outside of formal regulatory frameworks, and as a result, they may not have the same administrative needs as formal businesses. This has led to the development of administrative software solutions that are tailored to the needs of informal businesses. Additionally, the Malawian market is characterized by a high level of price sensitivity, which has led to the development of affordable administrative software solutions that cater to the needs of small businesses.

Underlying macroeconomic factors: The Malawian economy has been growing steadily over the past few years, with a GDP growth rate of around 3% in 2019. This growth has been driven by the agriculture and services sectors, which are the largest contributors to the Malawian economy. Additionally, Malawi has a relatively young population, with over 60% of the population under the age of 25. This has led to a growing demand for digital solutions, including administrative software solutions, as younger generations are more likely to adopt new technologies. The government of Malawi has also been implementing policies aimed at improving the business environment, which has led to an increase in the number of formal businesses operating in the country. This has created a growing demand for administrative software solutions that can help these businesses manage their operations more efficiently.

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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