Enterprise Software - Norway

Norway

Revenue in the Enterprise Software market is projected to reach US$1,297.00m in 2024.
Customer Relationship Management Software dominates the market with a projected market volume of US$381.10m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 2.52%, resulting in a market volume of US$1,433.00m by 2028.
The average Spend per Employee in the Enterprise Software market is projected to reach US$442.30 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.

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

Market

Region

Region comparison

Currency

Analyst Opinion

Norway is a country known for its high standard of living and technological advancements. The Enterprise Software market in Norway has been growing steadily over the years, driven by several factors.

Customer preferences: Norwegian customers are known for their preference for high-quality software that is easy to use and provides a seamless experience. They also value software that is secure and reliable, as data privacy is a top concern in the country. Cloud-based software solutions are gaining popularity among Norwegian businesses due to their flexibility and cost-effectiveness.

Trends in the market: One of the major trends in the Enterprise Software market in Norway is the increasing adoption of artificial intelligence (AI) and machine learning (ML) technologies. These technologies are being used to automate processes, improve decision-making, and enhance customer experiences. Another trend is the rise of software-as-a-service (SaaS) solutions, which offer businesses a more cost-effective and scalable alternative to traditional software licensing models.

Local special circumstances: Norway's strict data protection laws and regulations have had a significant impact on the Enterprise Software market in the country. Vendors must ensure that their software is compliant with these regulations, which can be a challenge for smaller companies. Additionally, the country's small population and limited market size can make it difficult for vendors to achieve economies of scale and compete with larger international players.

Underlying macroeconomic factors: Norway's strong economy and high levels of disposable income have contributed to the growth of the Enterprise Software market in the country. The government's focus on digitalization and innovation has also created a favorable environment for software vendors. However, the country's high taxes and labor costs can make it challenging for businesses to invest in new software solutions.

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.