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Administrative Software - Saudi Arabia

Saudi Arabia

Revenue in the Administrative Software market is projected to reach US$34.39m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 0.33%, resulting in a market volume of US$34.84m by 2028.
In global comparison, most revenue will be generated in the United States (US$7,422.00m in 2024).

Key regions: United States, Japan, South Korea, France, Australia

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Analyst Opinion

The Administrative Software market in Saudi Arabia has been experiencing significant growth in recent years.

Customer preferences: Saudi Arabian customers have been showing a growing preference for administrative software solutions that can help them streamline their business operations and increase efficiency. This has led to a surge in demand for software that can automate tasks such as data entry, record keeping, and document management.

Trends in the market: One major trend in the Saudi Arabian market is the shift towards cloud-based administrative software solutions. Cloud-based software is becoming increasingly popular as it offers greater flexibility, scalability, and accessibility than traditional on-premise solutions. Another trend is the increasing adoption of mobile-friendly software, as more and more businesses are looking for solutions that can be accessed on-the-go.

Local special circumstances: One factor driving the growth of the Administrative Software market in Saudi Arabia is the government's Vision 2030 plan, which aims to diversify the country's economy and reduce its reliance on oil. As part of this plan, the government has been investing heavily in technology and innovation, which has created a favorable environment for software companies to thrive. Additionally, the country's large and growing population of tech-savvy young professionals has created a strong demand for cutting-edge software solutions.

Underlying macroeconomic factors: Several macroeconomic factors are driving the growth of the Administrative Software market in Saudi Arabia. These include the country's strong economic growth, its favorable business environment, and its growing population of young, tech-savvy professionals. Additionally, the government's Vision 2030 plan is providing a major boost to the country's technology sector, which is expected to fuel further growth in the years to come.

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.