Office Software - GCC | Statista Market Forecast

The Office Software market in the GCC is expected to witness significant revenue growth in the coming years.
By 2024, the projected revenue for this market is estimated to reach US$180.70m.
This growth is further expected to continue at an annual growth rate of 3.65% from 2024 to 2029, resulting in a market volume of US$216.20m by the end of 2029.
When compared globally, United States is anticipated to generate the highest revenue in the Office Software market, with an estimated revenue of US$15.24bn in 2024.
The demand for cloud-based office software solutions is rapidly increasing in the GCC as businesses prioritize mobility and remote work capabilities.

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 Office Software market in GCC is experiencing significant growth in recent years, driven by various factors such as increasing digitalization and the rise of remote work.

Customer preferences: Customers in the GCC region are increasingly looking for office software that is user-friendly, efficient, and secure. They also prioritize software that is compatible with multiple devices and can be easily integrated with other software.

Trends in the market: One of the major trends in the GCC Office Software market is the increasing popularity of cloud-based software. This trend is driven by the need for remote work solutions and the growing demand for software that can be accessed from any device. Another trend is the rise of artificial intelligence (AI) and machine learning (ML) in office software, which is helping to automate tasks and improve productivity.

Local special circumstances: The GCC region has unique circumstances that are shaping the Office Software market. For example, the region has a large expat population that is driving demand for software that can handle multiple languages. Additionally, the region has a high demand for software that is compliant with Islamic finance regulations.

Underlying macroeconomic factors: The GCC region is experiencing rapid economic growth, which is driving demand for office software. The region is also home to a large number of startups and small businesses, which are driving demand for affordable and user-friendly office software solutions. Additionally, the region has a young and tech-savvy population that is driving demand for innovative software 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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