Administrative Software - Serbia | Statista Market Forecast

In Serbia, the revenue in the Administrative Software market is forecasted to reach US$4.01m by 2024.
It is expected to demonstrate an annual growth rate (CAGR 2024-2029) of 6.78%, leading to a market volume of US$5.57m by 2029.
When compared globally, United States is projected to generate the highest revenue, amounting to US$7.44bn in 2024.
Serbia's administrative software market is rapidly expanding as businesses seek efficient solutions to streamline their operations and boost productivity.

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 market in Serbia has been growing steadily over the past few years. This growth can be attributed to various factors such as increasing adoption of cloud-based solutions, rising demand for automation and digitization of administrative tasks, and the need for efficient and streamlined business operations.

Customer preferences: Serbian businesses are increasingly adopting administrative software solutions to automate their administrative tasks and streamline their operations. The demand for cloud-based solutions is also increasing as businesses seek flexibility and scalability in their operations. Small and medium-sized enterprises (SMEs) are a major customer segment for administrative software solutions in Serbia.

Trends in the market: One of the major trends in the administrative software market in Serbia is the increasing adoption of cloud-based solutions. Cloud-based solutions offer several benefits such as scalability, cost-effectiveness, and flexibility. Another trend is the rising demand for automation and digitization of administrative tasks. Administrative software solutions are increasingly being used to automate tasks such as data entry, document management, and invoicing. The market is also witnessing an increasing demand for mobile applications that allow users to access administrative software solutions on-the-go.

Local special circumstances: Serbia has a growing startup ecosystem, and this is driving the demand for administrative software solutions. Startups in Serbia are increasingly adopting administrative software solutions to streamline their operations and improve efficiency. The government of Serbia has also been promoting the adoption of digital solutions, which is further driving the demand for administrative software solutions in the country.

Underlying macroeconomic factors: Serbia has a growing economy, and this is driving the demand for administrative software solutions. The country has a large number of SMEs, which are a major customer segment for administrative software solutions. The government of Serbia has also been promoting the adoption of digital solutions, which is further driving the growth of the administrative software market in the country. The increasing availability of high-speed internet and the growing use of smartphones are also contributing to the growth of the market.

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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