Software - Zambia

Zambia

The Software market in Zambia is expected to experience significant growth in the coming years.
By 2024, revenue in this market is projected to reach US$75.69m units of currency.
Enterprise Software is set to dominate the market, with a projected market volume of US$31.68m units of currency in the same year.
This indicates a strong demand for software solutions in various industries withZambia.
Furthermore, the Software market is expected to maintain a steady growth rate.
With an annual growth rate (CAGR 2024-2029) of 8.15%, revenue is forecasted to reach a market volume of US$112.00m units of currency by 2029.
This signifies the continuous expansion of the software industry withZambia and the increasing reliance on digital solutions.
In a global context, United States is expected to generate the highest revenue in the Software market.
By 2024, United States is projected to generate a staggering US$363.40bn units of currency.
This highlights the dominant position of the United States in the global software market and its significant contribution to the industry's revenue.
Zambia's software market is experiencing significant growth as the country embraces digital transformation to drive economic development.

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.

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

Market

Region

Region comparison

Currency

Analyst Opinion

The Software market in Zambia has been experiencing significant growth in recent years, driven by various factors such as customer preferences, local special circumstances, and underlying macroeconomic factors.

Customer preferences: Zambian customers are increasingly adopting software solutions to improve their businesses' efficiency, productivity, and profitability. Small and medium-sized enterprises (SMEs) are the main customers of software solutions in Zambia. SMEs are investing in software solutions such as accounting software, customer relationship management software, and inventory management software to streamline their operations and reduce costs. Additionally, the education sector in Zambia is also a key customer of software solutions, with the adoption of e-learning platforms and other educational software.

Trends in the market: The Software market in Zambia is witnessing a shift from traditional software models to cloud-based software solutions. The adoption of cloud-based software solutions is driven by the need for flexibility, scalability, and cost-effectiveness. Cloud-based software solutions allow businesses to access software applications from anywhere, at any time, and on any device. The Software market in Zambia is also witnessing the development of mobile applications as businesses seek to leverage the increasing use of smartphones and other mobile devices.

Local special circumstances: One of the main local special circumstances driving the growth of the Software market in Zambia is the government's focus on promoting the use of technology in various sectors of the economy. The government has been implementing various initiatives to promote the adoption of technology, including the establishment of technology hubs and the provision of tax incentives for technology companies. Additionally, the Software market in Zambia is also benefiting from the country's young and tech-savvy population, which is driving demand for software solutions.

Underlying macroeconomic factors: The underlying macroeconomic factors driving the growth of the Software market in Zambia include the country's stable economic growth and the increasing penetration of the internet and mobile devices. Zambia's economy has been growing steadily in recent years, driven by the mining, agriculture, and tourism sectors. This economic growth has created opportunities for businesses to invest in software solutions to improve their operations. Additionally, the increasing penetration of the internet and mobile devices is driving demand for software solutions that are accessible on these platforms. In conclusion, the Software market in Zambia is experiencing significant growth, driven by customer preferences, local special circumstances, and underlying macroeconomic factors. The shift towards cloud-based software solutions and the development of mobile applications are key trends in the market. The government's focus on promoting the use of technology and the country's stable economic growth and young, tech-savvy population are also driving the growth of the Software market in Zambia.

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.