Software - Indonesia

  • Indonesia
  • Revenue in the Software market is projected to reach €1.08bn in 2024.
  • Enterprise Software dominates the market with a projected market volume of €0.45bn in 2024.
  • Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 8.92%, resulting in a market volume of €1.52bn by 2028.
  • In global comparison, most revenue will be generated in the United States (€327.80bn in 2024).

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

 
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Analyst Opinion

The Software market in Indonesia has been experiencing a significant growth in recent years.

Customer preferences:
Indonesian customers have shown a strong preference for cloud-based software solutions. This is due to the increasing adoption of cloud computing in the country, which has resulted in a growing demand for software that can be accessed from anywhere and at any time. Additionally, customers in Indonesia have also shown a preference for software solutions that are mobile-friendly and can be accessed on-the-go.

Trends in the market:
One of the major trends in the Indonesian software market is the increasing adoption of Artificial Intelligence (AI) and Machine Learning (ML) technologies. This is due to the growing interest in automation and the need for businesses to streamline their operations. Another trend in the market is the rising demand for cybersecurity software solutions, as businesses look to protect themselves from cyber threats.

Local special circumstances:
Indonesia is the largest economy in Southeast Asia and has a rapidly growing middle class. This has resulted in a growing demand for software solutions that cater to the needs of this demographic. Additionally, the Indonesian government has been actively promoting the growth of the digital economy in the country, which has resulted in a favorable environment for software companies.

Underlying macroeconomic factors:
The Indonesian economy has been growing at a steady pace in recent years, which has resulted in a growing middle class and increased consumer spending. This has led to a growing demand for software solutions that cater to the needs of this demographic. Additionally, the Indonesian government has been actively promoting the growth of the digital economy in the country, which has resulted in a favorable environment for software companies. Finally, the increasing adoption of cloud computing and the rise of AI and ML technologies have also contributed to the growth of the software market in Indonesia.

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.

Visión general

  • Revenue
  • Key Players
  • Analyst Opinion
  • Global Comparison
  • Methodology
  • Key Market Indicators
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