Key regions: United Kingdom, China, Australia, Canada, United States
The Enterprise Resource Planning (ERP) software market in Bahrain has been witnessing steady growth over the past few years.
Customer preferences: Bahrain's businesses are increasingly adopting ERP software to streamline their operations and improve efficiency. The software is being preferred due to its ability to integrate various business functions, such as finance, human resources, and inventory management, into a single system. Additionally, ERP software provides real-time data and analytics, enabling businesses to make informed decisions.
Trends in the market: One of the major trends in the ERP software market in Bahrain is the increasing adoption of cloud-based ERP solutions. Cloud-based ERP software offers several advantages over traditional on-premise ERP systems, including lower costs, greater flexibility, and easier scalability. As a result, more businesses in Bahrain are shifting towards cloud-based ERP solutions.Another trend in the market is the growing demand for mobile ERP applications. With the increasing use of smartphones and tablets, businesses are looking for ERP software that can be accessed from anywhere, at any time. Mobile ERP applications enable employees to access real-time data and perform tasks on-the-go, improving productivity and efficiency.
Local special circumstances: Bahrain's government has been actively promoting the use of technology in the country's businesses. The government has launched several initiatives to support the growth of the technology sector, including the establishment of a dedicated technology park and the provision of incentives for technology startups. These initiatives have created a favorable environment for the growth of the ERP software market in Bahrain.
Underlying macroeconomic factors: Bahrain's economy has been growing steadily over the past few years, driven by the non-oil sector. The country's GDP grew by 2.7% in 2019, and is expected to grow by 2.3% in 2020. The growth of the non-oil sector has created opportunities for businesses in various industries, including manufacturing, construction, and services. As these businesses grow, the demand for ERP software is expected to increase, further driving the growth of the market.
Data coverage:
The data encompasses B2B, B2G, and B2C enterprises. Figures are based on the allocation to the country where the money was spent at manufacturer price level (excluding VAT).Modeling approach / Market size:
The segment size is determined through a top-down approach. We use financial statements such as annual reports, quarterly earnings, and expert opinions to analyze the markets. To estimate the segment size for each country individually, we use relevant key market indicators and data from country-specific industry associations such as GDP, level of digitization, GDP sector composition, and observed level of software piracy.Forecasts:
We use a variety of forecasting techniques, for instance, advanced statistical methods, depending on the behavior of the relevant segment. 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.
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