Administrative Software - Singapore

Singapore is projected to experience steady growth in the Administrative Software market.
By 2024, the revenue in this market is expected to reach US$46.57m.
This will be followed by an annual growth rate (CAGR 2024-2029) of 2.31%, resulting in a market volume of US$52.19m by 2029.
When compared globally, United States is forecasted to generate the highest revenue in this market, with US$7.44bn in 2024.
Singapore is witnessing a rising demand for cloud-based administrative software solutions, as businesses seek to streamline operations and improve efficiency.

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.

For more information on the displayed data, use the info button right next to the boxes.

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 Singapore has been growing steadily in recent years.

Customer preferences: Singaporean customers are increasingly looking for administrative software that can help them streamline their business operations and increase efficiency. They are particularly interested in software that can automate routine tasks and provide real-time data analysis and reporting. Cloud-based solutions are also becoming more popular, as they allow for easy access and collaboration across different devices and locations.

Trends in the market: One of the key trends in the Administrative Software market in Singapore is the increasing adoption of AI and machine learning technologies. These technologies can help businesses automate tasks and make more informed decisions based on data analysis. Another trend is the growing demand for software that can integrate with other business tools, such as CRM and accounting software. This allows for a more seamless workflow and reduces the need for manual data entry.

Local special circumstances: Singapore is a highly competitive market, with many small and medium-sized businesses competing for market share. As a result, businesses are looking for software that can give them a competitive edge and help them stand out from the crowd. Additionally, Singapore has a strong focus on innovation and technology, which has led to a high demand for cutting-edge software solutions.

Underlying macroeconomic factors: Singapore's strong economy and business-friendly environment have contributed to the growth of the Administrative Software market. The government has also been supportive of the technology sector, providing funding and incentives for startups and small businesses. Additionally, Singapore's strategic location and strong trade ties with other countries in the region have made it an attractive location for businesses looking to expand their operations in Asia.

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.

Imagine a world without the apps you use daily, the games you enjoy, or the websites you rely on. Software development is the invisible hand behind this digital magic, transforming ideas into the tools that shape our lives. Software development is the process of creating, designing, deploying, and supporting software. It includes all the computer activities between the software's conception and final manifestation.

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.