Software - Southern Asia

Southern Asia

Revenue in the Software market is projected to reach US$12.31bn in 2024.
Enterprise Software dominates the market with a projected market volume of US$5.13bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 11.67%, resulting in a market volume of US$19.14bn by 2028.
In global comparison, most revenue will be generated in the United States (US$353.50bn in 2024).

Key regions: United States, Canada, Germany, China, Japan

Definition:

In general, software is defined as a set of instructions written as programming code to execute specific tasks on a computing device. The Software market covers a wide range of software products and solutions that are publicly sold by various companies. Most software solutions in this market are designed for professional use, but some can also be suitable for personal use. They can also range from basic productivity tools such as word processors and spreadsheets to complex software solutions such as project management tools, graphic design software, and enterprise resource planning software.

Products in the 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 market contains four markets that are based on the functionality of the software:

Productivity Software refers to application software that supports activities such as producing documents, spreadsheets, drawings, and presentations. This market includes Administrative Software, Collaboration Software, Office Software, Creative Software, and Construction and Design Software.
Enterprise Software refers to all software that supports essential large-scale business activities such as enterprise resource management, customer management, and supply chain activities. This market includes Enterprise Resource Planning Software, Customer Relationship Management Software, Business Intelligence Software, Supply Chain Management Software, Content Management Software, and Other Enterprise Software.
Application Development Software refers to software and tools that help the overall application development process.
System Infrastructure Software refers to software that provides the base framework for operating and managing organizational processes and services on hardware devices.

Additional Information:

The Software market comprises revenue and revenue change 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 Microsoft, Adobe, SAP, Oracle, and Salesforce.

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Market

Region

Region comparison

Currency

Analyst Opinion

Southern Asia is a region that has seen significant growth in the software market in recent years. The software market in Southern Asia has been driven by a number of factors, including customer preferences, local special circumstances, and underlying macroeconomic factors.

Customer preferences: One of the key customer preferences in Southern Asia is for software that is affordable and easy to use. This has led to the development of a number of software products that are tailored to the needs of small and medium-sized businesses in the region. Additionally, there is a growing demand for software that can be used on mobile devices, as more and more people in Southern Asia are accessing the internet through their smartphones.

Trends in the market: One of the key trends in the software market in Southern Asia is the rise of cloud computing. Cloud computing has become increasingly popular in the region, as it allows businesses to access software and data from anywhere, without the need for expensive infrastructure. Additionally, there is a growing trend towards the use of open-source software in Southern Asia, as businesses look for ways to reduce their software licensing costs.

Local special circumstances: One of the unique features of the software market in Southern Asia is the diversity of languages spoken in the region. This has led to the development of a number of software products that are tailored to specific languages, including Hindi, Bengali, and Tamil. Additionally, there are a number of local regulations that impact the software market in Southern Asia, including data localization laws and restrictions on the use of certain types of software.

Underlying macroeconomic factors: The software market in Southern Asia has been driven by a number of underlying macroeconomic factors, including the region's growing population, rising levels of education, and increasing levels of economic development. Additionally, there has been a significant increase in the number of tech startups in the region, which has led to a growing demand for software products and services. Finally, there is a growing trend towards digital transformation in Southern Asia, as businesses look for ways to streamline their operations and improve their efficiency.

Methodology

Data coverage:

The data encompasses B2B, B2G, and B2C enterprises, except for the Enterprise Software segment, in which consumer (B2C) spending is not considered. Figures are based on the allocation to the country where the money was spent at manufacturer price level (excluding VAT).

Modeling approach / Market size:

Market sizes are determined through a top-down approach with a bottom-up validation, building on a specific rationale for each market segment. As a basis for evaluating markets, we use annual financial reports of the market-leading companies and reports from our primary research. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, level of digitization, GDP sector composition, and observed level of software piracy. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. 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.