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.Southeast Asia SME Software Market is projected to grow at a CAGR of 7.1% during the forecast period 2022-2030
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.Segments Overview:
The Southeast Asia SME software market is segmented into offerings, function, services, deployment type, and industry.By Offerings
- Infrastructure as a Service
- Platform as a Service
- Software as a Service
By Function
- Customer Relationship Management (CRM)
- Enterprise Resource Planning (ERP)
- Enterprise Content Management (ECM)
- Supply Chain Management (SCM)
- Web conferencing
- Business Intelligence (BI)
- Business process management
- Enterprise Asset management
- B2B E-Commerce
- Others
By Services
- Professional Services
- Managed Services
By Deployment Type
- On-premises
- Cloud (SaaS)
By Industry
- BFSI
- Education
- Consumer Goods
- Retail
- Public sector
- Manufacturing
- Healthcare & Life science
- Telecommunication
- Media & Entertainment
- E-Commerce Marketplaces
- Others
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%.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
- ERP
- Accounting
- Procurement
- 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?
Table of Contents
Chapter 1. Research Framework1.1. Research Objective
1.2. Product Overview
1.3. Market Segmentation
Chapter 2. Research Methodology
2.1. Qualitative Research
2.1.1. Primary & Secondary Sources
2.2. Quantitative Research
2.2.1. Primary & Secondary Sources
2.3. Breakdown of Primary Research Respondents, By Region
2.4. Assumption for the Study
2.5. Market Size Estimation
2.6. Data Triangulation
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
4.4.1. Bargaining Power of Suppliers
4.4.2. Bargaining Power of Buyers
4.4.3. Threat of Substitutes
4.4.4. Threat of New Entrants
4.4.5. Degree of Competition
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
4.8.3.2.1. Myanmar
4.8.3.2.2. Thailand
4.8.3.2.3. Indonesia
4.8.3.2.4. Cambodia
4.8.3.2.5. Vietnam
4.8.3.2.6. Singapore
4.8.3.2.7. Philippines
4.8.3.2.8. Malaysia
4.8.3.2.9. Rest of South East Asia
4.8.3.2.10. India
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
Chapter 10. SME Software Market Analysis, By Country
10.1. Key Insights
10.2. Market Size and Forecast, 2017 - 2030 (US$ Mn)
10.2.1. Myanmar
10.2.2. Thailand
10.2.3. Indonesia
10.2.4. Cambodia
10.2.5. Vietnam
10.2.6. Singapore
10.2.7. Philippines
10.2.8. Malaysia
10.2.9. Rest of South-East Asia
10.2.10. India
Chapter 11. Myanmar SME Software Market Analysis
11.1. Key Insights
11.2. Market Size and Forecast, 2017 - 2030 (US$ Mn)
11.2.1. By Offering
11.2.2. By Functions
11.2.3. By Services
11.2.4. By Deployment Type
11.2.5. By Industry
Chapter 12. Thailand SME Software Market Analysis
12.1. Key Insights
12.2. Market Size and Forecast, 2017 - 2030 (US$ Mn)
12.2.1. By Offering
12.2.2. By Functions
12.2.3. By Services
12.2.4. By Deployment Type
12.2.5. By Industry
Chapter 13. Indonesia SME Software Market Analysis
13.1. Key Insights
13.2. Market Size and Forecast, 2017 - 2030 (US$ Mn)
13.2.1. By Offering
13.2.2. By Functions
13.2.3. By Services
13.2.4. By Deployment Type
13.2.5. By Industry
Chapter 14. Cambodia SME Software Market Analysis
14.1. Key Insights
14.2. Market Size and Forecast, 2017 - 2030 (US$ Mn)
14.2.1. By Offering
14.2.2. By Functions
14.2.3. By Services
14.2.4. By Deployment Type
14.2.5. By Industry
Chapter 15. Vietnam SME Software Market Analysis
15.1. Key Insights
15.2. Market Size and Forecast, 2017 - 2030 (US$ Mn)
15.2.1. By Offering
15.2.2. By Functions
15.2.3. By Services
15.2.4. By Deployment Type
15.2.5. By Industry
Chapter 16. Singapore SME Software Market Analysis
16.1. Key Insights
16.2. Market Size and Forecast, 2017 - 2030 (US$ Mn)
16.2.1. By Offering
16.2.2. By Functions
16.2.3. By Services
16.2.4. By Deployment Type
16.2.5. By Industry
Chapter 17. Philippines SME Software Market Analysis
17.1. Key Insights
17.2. Market Size and Forecast, 2017 - 2030 (US$ Mn)
17.2.1. By Offering
17.2.2. By Functions
17.2.3. By Services
17.2.4. By Deployment Type
17.2.5. By Industry
Chapter 18. Malaysia SME Software Market Analysis
18.1. Key Insights
18.2. Market Size and Forecast, 2017 - 2030 (US$ Mn)
18.2.1. By Offering
18.2.2. By Functions
18.2.3. By Services
18.2.4. By Deployment Type
18.2.5. By Industry
Chapter 19. Rest of Southeast Asia SME Software Market Analysis
19.1. Key Insights
19.2. Market Size and Forecast, 2017 - 2030 (US$ Mn)
19.2.1. By Offering
19.2.2. By Functions
19.2.3. By Services
19.2.4. By Deployment Type
19.2.5. By Industry
Chapter 20. India SME Software Market Analysis
20.1. Key Insights
20.2. Market Size and Forecast, 2017 - 2030 (US$ Mn)
20.2.1. By Offering
20.2.2. By Functions
20.2.3. By Services
20.2.4. By Deployment Type
20.2.5. By Industry
Chapter 21. Company Profile (Company Overview, Financial Matrix, Key Product landscape, Key Personnel, Key Competitors, Contact Address, and Business Strategy Outlook)
21.1. Yonyou
21.2. Microsoft
21.3. Infor
21.4. Epicor
21.5. Kingdee
21.6. Unit4
21.7. Intuit
21.8. Aplicor
21.9. Oracle (NetSuite)
21.10. Xero
21.11. Sage Intacct
21.12. Assit cornerstone
21.13. SAP
21.14. FreshBooks
21.15. Acclivity
21.16. Workday
21.17. Globallinker
21.18. Other Prominent Players
Executive Summary
Because of the increasing use of SME for business optimization and the rising efficiency offered by accounting software, the Southeast Asia SME software market is likely to rise swiftly over the forecast period. In addition to that, increased investment in strategic moves is likely to drive market growth. The market is anticipated to be valued USD 11,505.9 million by 2030. In 2021, Thailand had the greatest market share for SME software. Significant market actors are also actively involved in strategic initiatives such as mergers, collaborations, agreements, product launches, and joint ventures. Offerings, function, services, deployment type, and industry are the segments of the market.Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- American
- Xero
- Sage Intacct
- Assit cornerstone
- SAP
- FreshBooks
- Acclivity
- Workday
- Globallinker
- Yonyou
- Microsoft
- Infor
- Epicor
- Kingdee
- Unit4
- Intuit
- Aplicor
- Oracle (NetSuite)
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 357 |
| Published | December 2022 |
| Forecast Period | 2021 - 2030 |
| Estimated Market Value ( USD | $ 6326 Million |
| Forecasted Market Value ( USD | $ 11505.9 Million |
| Compound Annual Growth Rate | 7.1% |
| Regions Covered | Asia Pacific |
