Office Software - G7 | Statista Market Forecast

The Office Software market in the G7 countries is expected to witness substantial growth in the coming years.
By 2024, the projected revenue is estimated to reach US$20.92bn.
This growth is anticipated to continue at a steady pace, with an annual growth rate (CAGR 2024-2029) of 2.55%.
As a result, the market volume is projected to reach US$23.74bn by 2029.
When comparing the revenue generated in the Office Software market among the G7 countries, United States is expected to lead the way.
In 2024, it is anticipated that United States will generate the highest revenue, with an estimated amount of US$15.24bn.
This highlights the dominance of the United States in this market segment within the G7 countries.
In the G7 country of Germany, there is a growing trend towards cloud-based office software solutions in the business sector.

Definition:

The Office Software market covers software applications that are used for productivity and work-related tasks in an office environment such as word processing, spreadsheet management, and presentation creation in both personal and professional environments.

Products in the Office 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 Office 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 Microsoft and Google.

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Word-processing, such as Microsoft Word, LibreOffice, and Grammarly
Spreadsheet-software, such as Google Sheets, Microsoft Excel, and Zoho Sheet
Visualization software, such as Microsoft Power BI, Tableau, and Infogram
Consumer and enterprise spend, such as Airbase, Spendesk, and Procurify

Creative software, such as Adobe, Canva, and Apple
Free-of-charge software, such as Airtable, Anaplan, and BlackLine

The demand for office software in G7 countries has been on the rise in recent years, driven by the increasing adoption of digital technologies and the growing need for remote work solutions.

Customer preferences: Customers in G7 countries are increasingly looking for office software that offers a range of features and functionalities, including cloud-based storage, collaboration tools, and mobile compatibility. There is also a growing demand for software that integrates with other business applications, such as customer relationship management (CRM) and enterprise resource planning (ERP) systems.

Trends in the market: In the United States, the largest market for office software in G7, there has been a shift towards subscription-based models, with many customers opting for cloud-based solutions such as Microsoft Office 365 and Google Workspace. This trend is driven by the need for flexibility and scalability, as well as the desire to reduce upfront costs.In Canada, the market for office software is characterized by a high level of competition, with many players offering a range of solutions targeted at different customer segments. There is a growing demand for software that integrates with other business applications, particularly in the areas of finance and accounting.In the United Kingdom, the market for office software is dominated by Microsoft Office, which has a market share of over 90%. However, there is a growing trend towards open-source solutions, driven by the desire for greater flexibility and cost savings.In France, the market for office software is characterized by a strong preference for locally developed solutions, particularly in the areas of document management and collaboration. There is also a growing demand for software that integrates with other business applications, such as project management and CRM systems.In Germany, the market for office software is dominated by Microsoft Office, which has a market share of over 80%. However, there is a growing trend towards cloud-based solutions, particularly in the areas of collaboration and mobile compatibility.In Italy, the market for office software is characterized by a high level of fragmentation, with many small and medium-sized players offering a range of solutions targeted at different customer segments. There is a growing demand for software that integrates with other business applications, particularly in the areas of project management and CRM.In Japan, the market for office software is dominated by Microsoft Office, which has a market share of over 90%. However, there is a growing trend towards cloud-based solutions, particularly in the areas of collaboration and mobile compatibility.

Local special circumstances: In each of the G7 countries, there are unique market dynamics and customer preferences that impact the adoption and use of office software. For example, in France, there is a strong preference for locally developed solutions, while in Canada, there is a high level of competition and a demand for software that integrates with other business applications.

Underlying macroeconomic factors: The adoption and use of office software in G7 countries is influenced by a range of macroeconomic factors, including GDP growth, labor market conditions, and technological innovation. As the global economy continues to recover from the COVID-19 pandemic, there is likely to be continued growth in the office software market, driven by the increasing adoption of digital technologies and the growing need for remote work solutions.

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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