Southeast Asia SME Software Market Trends, Size, Share, Growth Status, and Forecast 2023 to 2031 | American, Xero, Sage Intacct, Assit cornerstone,

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.

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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.

Segments Overview:

The Southeast Asia SME software market is segmented into offerings, function, services, deployment type, and industry.

By Offerings
o Infrastructure as a Service
o Platform as a Service
o Software as a Service

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The infrastructure as a service segment is estimated to hold the revenue of more than USD 5,500 million from 2022 to 2030.

By Function
o Customer Relationship Management (CRM)
o Enterprise Resource Planning (ERP)
o Enterprise Content Management (ECM)
o Supply Chain Management (SCM)
o Web conferencing
o Business Intelligence (BI)
o Business process management
o Enterprise Asset management
o B2B E-Commerce
o Others

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.

By Services
o Professional Services
o Managed Services

The professional services segment is likely to cross the mark of USD 7,200 million by 2030 in terms of revenue.

By Deployment Type
o On-premises
o Cloud (SaaS)

The on-premises segment held the largest market share of more than 60% in 2021.

By Industry
o BFSI
o Education
o Consumer Goods
o Retail
o Public sector
o Manufacturing
o Healthcare & Life science
o Telecommunication
o Media & Entertainment
o E-Commerce Marketplaces
o Others

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.

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.

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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%.

The Southeast Asia SME Software market report provides insights on the below pointers:
? Market Penetration: Provides comprehensive information on the market offered by the prominent players
? Market Development: The report offers detailed information about lucrative emerging markets and analyzes penetration across mature segments of the markets
? Market Diversification: Provides in-depth information about untapped geographies, recent developments, and investments
? Competitive Landscape Assessment: Mergers & acquisitions, certifications, product launches in the Southeast Asia SME software market have been provided in this research report. In addition, the report also emphasizes the SWOT analysis of the leading players.
? Product Development & Innovation: The report provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
? Pricing Analysis: Pricing analysis of various components used in the manufacturing of software
? Manufacturing Cost Analysis: Cost-share of various components
? Top software providers for SME in Southeast Asia and India
? Type of Software solutions for SMEs
o ERP
o Accounting
o Procurement
o Ordering
? Investment Initiatives on SaaS for SME startups
? Key benefit of SaaS for SMEs

The Southeast Asia SME software market report answers questions such as:

? What is the market size and forecast of the Southeast Asia SME software market?
? What are the inhibiting factors and impact of COVID-19 on the Southeast Asia SME software market during the assessment period?
? Which are the products/segments/applications/areas to invest in over the assessment period in the Southeast Asia SME software market?
? What is the competitive strategic window for opportunities in the Southeast Asia SME software market?
? What are the technology trends and regulatory frameworks in the Southeast Asia SME software market?
? What is the market share of the leading players in the Southeast Asia SME software market?
? What modes and strategic moves are considered favorable for entering the Southeast Asia SME software market?

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