Enterprise Software - Serbia

Serbia

Revenue in the Enterprise Software market is projected to reach US$82.57m in 2024.
Customer Relationship Management Software dominates the market with a projected market volume of US$24.78m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 10.70%, resulting in a market volume of US$124.00m by 2028.
The average Spend per Employee in the Enterprise Software market is projected to reach US$20.96 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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Market

Region

Region comparison

Currency

Analyst Opinion

Serbia, located in Southeast Europe, has been experiencing a steady growth in the Enterprise Software market over the past few years.

Customer preferences: Serbian businesses are increasingly adopting Enterprise Software solutions to improve their operational efficiency and stay competitive in the global market. Many companies are looking for software that can help them automate their processes and manage their data more effectively. Cloud-based solutions are becoming more popular due to their flexibility and cost-effectiveness.

Trends in the market: One of the key trends in the Enterprise Software market in Serbia is the growing demand for ERP (Enterprise Resource Planning) systems. These solutions are designed to help businesses manage their core processes, such as finance, accounting, and inventory management. Another trend is the increasing adoption of CRM (Customer Relationship Management) software, which helps businesses manage their interactions with customers and improve their overall customer experience.

Local special circumstances: One of the unique challenges facing the Enterprise Software market in Serbia is the relatively low level of IT infrastructure in the country. This means that many businesses may not have the necessary hardware or network capabilities to support certain software solutions. Additionally, there is a shortage of skilled IT professionals in the country, which can make it difficult for businesses to implement and maintain complex software systems.

Underlying macroeconomic factors: Serbia has been experiencing steady economic growth in recent years, which has contributed to the growth of the Enterprise Software market. The government has been investing in infrastructure and promoting foreign investment, which has helped to create a more favorable business environment. Additionally, Serbia's accession to the EU has opened up new opportunities for businesses in the country, and many companies are looking to adopt Enterprise Software solutions to stay competitive in the global market.

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.