Enterprise Software - Bosnia and Herzegovina

Bosnia and Herzegovina

Revenue in the Enterprise Software market is projected to reach US$73.51m in 2024.
Customer Relationship Management Software dominates the market with a projected market volume of US$22.19m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 7.81%, resulting in a market volume of US$99.29m by 2028.
The average Spend per Employee in the Enterprise Software market is projected to reach US$58.13 in 2024.
In global comparison, most revenue will be generated in the United States (US$147.60bn in 2024).

Key regions: Germany, United States, Canada, Netherlands, France

Definition:

The Enterprise Software market covers software applications designed to support essential business activities by large organizations such as enterprise resource planning, customer relationship management, business intelligence, and supply chain management.

Products in the Enterprise 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 Enterprise Software market contains eight markets that are based on the functionality of the software:

Business Intelligence Software refers to software applications that support organizations to analyze, visualize, and report data.
Content Management Software refers to a wide range of software applications that support organizations to manage their digital content such as documents, images, and videos.
Customer Relationship Management Software refers to software applications that support organizations to manage their interactions with customers, clients, and prospects.
eCommerce Software refers to a wide range of software applications that support organizations to manage their online sales channels.
Enterprise Performance Management Software refers to software solutions that help organizations to manage and improve their performance across various areas, such as finance, operations, and strategy.
Enterprise Resource Planning Software refers to software applications that support organizations to manage, integrate and optimize important business activities related to resources such as people, finance, capital, materials, and orders.
Supply Chain Management Software refers to software applications that support organizations to manage their supply chain activities such as inventory optimization, supplier and vendor management, and logistic operations.
Other Enterprise Software refers to aggregated revenues for the types of enterprise software that are not specifically mentioned in the other Enterprise Software markets, such as Project Management Software, Product Life Cycle Management Software, and Production and Operation Software.

Additional Information:

The Enterprise 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). Detailed definitions of each market can be found on the respective page where the market data is displayed.

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

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Analyst Opinion

The Enterprise Software market in Bosnia and Herzegovina has been experiencing steady growth in recent years.

Customer preferences: Bosnia and Herzegovina is a country with a strong focus on small and medium-sized enterprises (SMEs). As a result, the demand for enterprise software solutions that cater to the needs of these businesses has been on the rise. SMEs in Bosnia and Herzegovina are looking for affordable and easy-to-use software solutions that can improve their business operations and help them compete with larger companies.

Trends in the market: One of the key trends in the Enterprise Software market in Bosnia and Herzegovina is the increasing adoption of cloud-based solutions. Cloud-based software is becoming increasingly popular among SMEs due to its affordability and scalability. This trend is expected to continue in the coming years as more businesses in Bosnia and Herzegovina embrace digital transformation.Another trend in the market is the growing demand for software solutions that cater to specific industries. Businesses in Bosnia and Herzegovina are looking for software solutions that are tailored to their specific needs and can help them streamline their operations. For example, there is a growing demand for software solutions in the healthcare industry that can help healthcare providers manage patient data and improve patient care.

Local special circumstances: Bosnia and Herzegovina is a country with a relatively small market, which means that many businesses are looking to expand beyond the country's borders. As a result, there is a growing demand for enterprise software solutions that can help businesses manage their operations in multiple countries and languages. This has led to an increase in the adoption of software solutions that offer multi-language support and can be customized to meet the needs of businesses operating in different regions.

Underlying macroeconomic factors: The Enterprise Software market in Bosnia and Herzegovina is being driven by a number of macroeconomic factors. These include the country's growing economy, which is creating new opportunities for businesses to expand and invest in new technology. Additionally, the government of Bosnia and Herzegovina has been actively promoting digital transformation and investing in infrastructure to support the growth of the technology sector. These factors are expected to continue driving growth in the Enterprise Software market in Bosnia and Herzegovina in the coming years.

Methodology

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.