Enterprise Software - India

India

Revenue in the Enterprise Software market is projected to reach US$4.00bn in 2024.
Customer Relationship Management Software dominates the market with a projected market volume of US$1.22bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 12.12%, resulting in a market volume of US$6.32bn by 2028.
The average Spend per Employee in the Enterprise Software market is projected to reach US$7.60 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 India has been experiencing significant growth over the past few years, driven by several factors.

Customer preferences: Indian customers are increasingly adopting cloud-based enterprise software solutions due to their scalability and cost-effectiveness. Additionally, there is a growing demand for software solutions that can help businesses streamline their operations and improve efficiency.

Trends in the market: One of the key trends in the Indian Enterprise Software market is the increasing adoption of Software as a Service (SaaS) solutions. This is driven by the scalability and cost-effectiveness of cloud-based solutions. Another trend is the growing demand for Artificial Intelligence (AI) and Machine Learning (ML) solutions, which are being used to automate processes and improve decision-making.

Local special circumstances: India has a large and rapidly growing technology sector, with a highly skilled workforce and a strong entrepreneurial culture. This has helped to drive innovation in the Enterprise Software market, with many Indian startups developing cutting-edge solutions that are being adopted by businesses around the world.

Underlying macroeconomic factors: India's strong economic growth and large population have made it an attractive market for Enterprise Software companies. Additionally, the Indian government has been implementing policies to encourage digitalization and technology adoption, which has further fueled the growth of the Enterprise Software market. However, challenges such as a lack of infrastructure and a shortage of skilled workers could hinder future growth.

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.