DUBLIN--(BUSINESS WIRE)--The "Southeast Asia SME Software Market, By Offerings, By Function, By Services, By Deployment Mode, By Industry, Estimation & Forecast, 2017-2030" report has been added to ResearchAndMarkets.com's offering.
The Southeast Asia SME software market held a market value of USD 6,326 million in 2021 and is estimated to reach USD 11,505.9 million by the year 2030. The market is projected to list a CAGR of 7.1% during the forecast period.
The Southeast Asia region's market expansion is being driven by the increased emphasis on customer engagement among organisations and expanding adoption from SME's, assisted by flexible pricing tactics supplied by providers.
According to SoftClouds (a distributor of technology solutions and digital transformation), 82% of businesses utilise CRM solutions for sales process automation and sales reporting. CRM software, according to Salesforce, helps companies increase employee productivity, improve customer engagement and retention, and gain other business benefits. CRM in sales, according to Cloudswave, can enhance the number of purchases clients make with the company. These characteristics are likely to support regional market growth.
Growth Influencers:
Increasing need from SME to manage and optimize businesses
To capitalise on the increased smartphone usage, new firms in the region have adopted e-commerce business methods. As a result, market vendors have been exposed to several opportunities to expand their client base.
Furthermore, retailers have been experimenting with consumer data in order to forecast patterns, customer preferences, and extract insights when combined with other data assets. As a result, these businesses have begun combining consumer insights with location data (GIS) to gain fresh insights into where and how customers shop.
Furthermore, omnichannel retailers have been at the forefront of developing consumer segmentations into core shopper profiles in order to respond to where and how each category behaves. For example, Bata, a consumer goods retailer, expanded its omnichannel CRM tactics in the Philippines and Vietnam in collaboration with Singapore-based Capillary Technologies.
Following deployment, the company realised 2.2x greater returns from focused marketing in Singapore and 57x ROI from Facebook-based campaigns in Malaysia. Capillary's Insights and Engage Platform were used by Bata to benefit from unified campaigns and accurate bespoke targeting to name a few.
Increased Efficiency Offered by Accounting Software
Most accounting software, particularly for SMEs, is now cloud-based, making it simple to implement and operate from anywhere. Larger organisations may prefer enterprise resource planning (ERP) systems if they require software that can manage not only accounting but also other areas such as inventory management in a single application.
Accounting software, on the other hand, frequently provides the functionality and convenience of use, with more advanced features than Excel, enabling SMEs to manage areas such as budgets, payrolls, and others.
Accounting software is generally adaptable and adjustable to an organization's demands, so whatever accounting/bookkeeping tasks you need assistance with, chances are there's software that can help. If nothing off the shelf fulfils your requirements, you can design custom accounting software in-house or with a third-party.
Regional Overview
The Southeast Asian market for SME software, on the basis of geography, is divided into Myanmar, Thailand, Indonesia, Cambodia, India, Vietnam, Singapore, Philippines, Malaysia, and rest of South-East Asia.
The Thailand market for SME software held the largest market share of more than 50% in 2021, with a revenue of USD 3,189.3 million. In addition to that, the Malaysia market for SME software is projected to hold the fastest growth rate of 8.2% over the anticipated period.
Competitive Landscape
The prominent players operating in the Southeast Asia SME software market include American, Xero, Sage Intacct, Assit cornerstone, SAP, FreshBooks, Acclivity, Workday, Globallinker, Yonyou, Microsoft, Infor, Epicor, Kingdee, Unit4, Intuit, Aplicor, Oracle (NetSuite), and others. In 2021, Oracle (NetSuite) generated 70.9% revenue through the cloud services business unit.
In March 2022, Infor has been named to Constellation's Top Vendors Short-list in six categories which includes, Configure Price Quote, Enterprise Application Platforms, Enterprise Cloud Finance, Healthcare ERP, Product-Centric Cloud ERP and Services-Centric Cloud ERP. The cumulative market share of the major players is close to 59%.
Segments Overview:
- The infrastructure as a service segment is estimated to hold the revenue of more than USD 5,500 million from 2022 to 2030.
- The customer relationship management segment held more than 20% of the market share in 2021. In addition to that, the business process management segment held the revenue of more than USD 1,000 million in 2021.
- The professional services segment is likely to cross the mark of USD 7,200 million by 2030 in terms of revenue.
- The on-premises segment held the largest market share of more than 60% in 2021.
- The retail segment held the second largest market share in 2021 with a revenue of USD 1,075.2 million. Moreover, the BFSI segment is estimated to hold the fastest growth rate of 8.2% over the anticipated period.
Company Profiles
- American
- Xero
- Sage Intacct
- Assit cornerstone
- SAP
- FreshBooks
- Acclivity
- Workday
- Globallinker
- Yonyou
- Microsoft
- Infor
- Epicor
- Kingdee
- Unit4
- Intuit
- Aplicor
- Oracle (NetSuite)
Key Topics Covered:
Chapter 1. Research Framework
Chapter 2. Research Methodology
Chapter 3. Executive Summary: Southeast Asia and India SME Software Market
Chapter 4. Southeast Asia and India SME Software Market Overview
4.1. Industry Value Chain Analysis
4.1.1. Developer
4.1.2. Technology Integrator
4.1.3. Service Provider
4.1.4. End User
4.2. Industry Outlook
4.2.1. Top software providers for SME in Southeast Asia and India
4.2.2. Type of Software solutions for SMEs
4.2.2.1. ERP
4.2.2.2. Accounting
4.2.2.3. Procurement
4.2.2.4. Ordering
4.2.3. Investment Initiatives on SaaS for SME startups
4.2.4. Key benefit of SaaS for SMEs
4.3. PESTLE Analysis
4.4. Porter's Five Forces Analysis
4.5. Market Dynamics and Trends
4.5.1. Growth Drivers
4.5.2. Restraints
4.5.3. Challenges
4.5.4. Key Trends
4.6. Covid-19 Impact Assessment on Market Growth Trend
4.7. Market Growth and Outlook
4.7.1. Market Revenue Estimates and Forecast (US$ Mn), 2017 - 2030
4.7.2. Product Price Analysis
4.8. Competition Dashboard
4.8.1. Market Concentration Rate
4.8.2. Company Market Share Analysis (Value %), 2020
4.8.3. Competitor Mapping
4.8.3.1. By Global level
4.8.3.2. By Country level
Chapter 5. SME Software Market Analysis, By Offerings
5.1. Key Insights
5.2. Market Size and Forecast, 2017 - 2030 (US$ Mn)
5.2.1. Infrastructure as a Service
5.2.2. Platform as a Service
5.2.3. Software as a Service
Chapter 6. SME Software Market Analysis, By Business Function
6.1. Key Insights
6.2. Market Size and Forecast, 2017 - 2030 (US$ Mn)
6.2.1. Customer Relationship Management (CRM)
6.2.2. Enterprise Resource Planning (ERP)
6.2.2.1. Finance & Accounting
6.2.2.2. Human Capital Management
6.2.2.3. Inventory Management
6.2.2.4. Order Management
6.2.2.5. Procurement
6.2.2.6. Supply chain Management
6.2.2.7. Project Management
6.2.2.8. Material Requirement Planning (MRP)
6.2.3. Enterprise Content Management (ECM)
6.2.3.1. Content Management
6.2.3.2. Document Management
6.2.3.3. Social Media Monitoring Management
6.2.3.4. Workflow & Case Management
6.2.4. Supply Chain Management (SCM)
6.2.5. Web conferencing
6.2.6. Business Intelligence (BI)
6.2.7. Business process management
6.2.8. Enterprise Asset management
6.2.9. B2B E-Commerce
6.2.10. Others
Chapter 7. SME Software Market Analysis, By Services
7.1. Key Insights
7.2. Market Size and Forecast, 2017 - 2030 (US$ Mn)
7.2.1. Professional Services
7.2.1.1. Digitalization
7.2.1.2. Value Added Services
7.2.1.3. Virtual Relationship Managers
7.2.1.4. Analytics
7.2.1.5. Others
7.2.2. Managed Services
Chapter 8. SME Software Market Analysis, By Deployment Type
8.1. Key Insights
8.2. Market Size and Forecast, 2017 - 2030 (US$ Mn)
8.2.1. On-premise
8.2.2. Cloud (SaaS)
Chapter 9. SME Software Market Analysis, By Industry
9.1. Key Insights
9.2. Market Size and Forecast, 2017 - 2030 (US$ Mn)
9.2.1. BFSI
9.2.2. Education
9.2.3. Consumer Goods
9.2.4. Retail
9.2.4.1. Product tracking
9.2.4.2. Real-time data and analytics
9.2.4.3. Automate processes
9.2.4.4. Inbound and outbound reads
9.2.4.5. Others
9.2.5. Public sector
9.2.6. Manufacturing
9.2.7. Healthcare & Life science
9.2.8. Telecommunication
9.2.9. Media & Entertainment
9.2.10. E-Commerce Marketplaces
9.2.11. Others
For more information about this report visit https://www.researchandmarkets.com/r/w2144m-asia?w=4
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