Software - Uganda

Uganda

In 2024, it is projected that the revenue in the Software market in Uganda will reach US$135.30m.
The market is dominated by Enterprise Software , which is expected to have a market volume of US$57.06m in the same year.
Looking ahead, the revenue is anticipated to show an annual growth rate (CAGR 2024-2029) of 9.65%, resulting in a market volume of US$214.50m by 2029.
When compared globally, United States is expected to generate the highest revenue, reaching US$363.40bn in 2024.
Uganda's software market is rapidly expanding, driven by a growing tech-savvy population and increasing government support for digital innovation.

Key regions: United States, Canada, Germany, China, Japan

Definition:

In general, software is defined as a set of instructions written as programming code to execute specific tasks on a computing device. The Software market covers a wide range of software products and solutions that are publicly sold by various companies. Most software solutions in this market are designed for professional use, but some can also be suitable for personal use. They can also range from basic productivity tools such as word processors and spreadsheets to complex software solutions such as project management tools, graphic design software, and enterprise resource planning software.

Products in the 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.

Structure:

The market contains four markets that are based on the functionality of the software:

Productivity Software refers to application software that supports activities such as producing documents, spreadsheets, drawings, and presentations. This market includes Administrative Software, Collaboration Software, Office Software, Creative Software, and Construction and Design Software.
Enterprise Software refers to all software that supports essential large-scale business activities such as enterprise resource management, customer management, and supply chain activities. This market includes Enterprise Resource Planning Software, Customer Relationship Management Software, Business Intelligence Software, Supply Chain Management Software, Content Management Software, and Other Enterprise Software.
Application Development Software refers to software and tools that help the overall application development process.
System Infrastructure Software refers to software that provides the base framework for operating and managing organizational processes and services on hardware devices.

Additional Information:

The Software market comprises revenue and revenue change 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). Detailed definitions of each market can be found on the respective page where the market data is displayed.

Key players in this market include Microsoft, Adobe, SAP, Oracle, and Salesforce.

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Analyst Opinion

Uganda, a country in East Africa, is experiencing a significant growth in the Software market. The Software market in Uganda has been developing at a steady pace in recent years, driven by various factors such as customer preferences, local special circumstances, and underlying macroeconomic factors.

Customer preferences: Uganda's Software market is primarily driven by the demand for business software solutions. Businesses in Uganda are increasingly adopting software solutions to automate their operations and enhance their productivity. Moreover, the rise of e-commerce and online transactions has also led to an increase in the demand for Software solutions that can support digital payments and online transactions.

Trends in the market: One of the major trends in Uganda's Software market is the rise of cloud-based solutions. Cloud-based Software solutions are becoming increasingly popular among businesses as they offer greater flexibility, scalability, and cost-effectiveness compared to traditional on-premise solutions. Another trend in Uganda's Software market is the growth of mobile applications. With the rise of smartphone adoption in Uganda, businesses are developing mobile applications to reach a wider audience and provide their customers with a more convenient and personalized experience.

Local special circumstances: Uganda's Software market is also influenced by local special circumstances. One of the key factors is the availability of skilled software developers. Uganda has a growing pool of talented software developers who are driving the development of the local Software industry. Moreover, the government has been supporting the growth of the Software industry by providing incentives to local Software companies and promoting the development of IT infrastructure in the country.

Underlying macroeconomic factors: The growth of Uganda's Software market is also influenced by underlying macroeconomic factors such as the country's GDP growth, population growth, and increasing internet penetration. Uganda's GDP has been growing steadily in recent years, which has led to an increase in the number of businesses and consumers in the country. Additionally, Uganda has a young and growing population, which is increasingly tech-savvy and digitally connected. The increasing internet penetration in Uganda has also created a conducive environment for the growth of the Software market. In conclusion, Uganda's Software market is experiencing significant growth, driven by various factors such as customer preferences, local special circumstances, and underlying macroeconomic factors. With the rise of cloud-based solutions, mobile applications, and the availability of skilled software developers, Uganda's Software market is poised for continued growth in the coming years.

Methodology

Data coverage:

The data encompasses B2B, B2G, and B2C enterprises, except for the Enterprise Software segment, in which consumer (B2C) spending is not considered. Figures are based on the allocation to the country where the money was spent at manufacturer price level (excluding VAT).

Modeling approach / Market size:

Market sizes are determined through a top-down approach with a bottom-up validation, building on a specific rationale for each market segment. As a basis for evaluating markets, we use annual financial reports of the market-leading companies and reports from our primary research. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, level of digitization, GDP sector composition, and observed level of software piracy. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. 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.