Enterprise Resource Planning Software - Bahrain

The Enterprise Resource Planning Software market in Bahrain is expected to generate a revenue of US$8.90m by 2024.
This revenue is projected to grow at an annual growth rate of 3.98%, resulting in a market volume of US$10.82m by 2029.
The average Spend per Employee in the Enterprise Resource Planning Software market is projected to reach US$10.05 in 2024.
When compared globally, United States is expected to generate the highest revenue of US$26.70bn in 2024.
Bahrain's growing economy and focus on digital transformation are driving increased demand for advanced Enterprise Resource Planning software solutions.

Definition:

The Enterprise Resource Planning (ERP) Software market covers software applications that support organizations in managing, integrating, and optimizing important business activities related to resources such as people, finance, capital, materials, and orders. These software applications help organizations to streamline their internal business processes, increase efficiency, and make more informed decisions.

Products in the Enterprise Resource Planning Software market can be obtained in two ways: as on-premises software that is sold via a transactional license or a subscription and as cloud-based software (software as a service/ SaaS) that is most frequently sold as a subscription.

Additional Information:

The Enterprise Resource Planning Software market comprises revenue and revenue growth as the key performance indicators. Only the revenues that are generated by primary vendors at the manufacturer price level either directly or through distribution channels (excluding value-added tax) are included and the revenues generated by resellers are excluded. Revenues are generated through both online and offline sales channels and include spending by enterprises (B2B) and governments (B2G).

Key players in this market include SAP, Intuit Inc., Oracle, Infor, and Sage.

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Financial applications, such as QuickBooks, Oracle NetSuite, and Xero
Asset management applications, such as Asset Panda, ManageEngine AssetExplorer, and GoCodes
Procurement software, such as SAP Ariba, Kissflow, and Procurify
Resource planning, such as Smartsheet, Float, and Hub Planner

SCM Software, such as Anvyl, Tada, and Magaya Supply Chain
BI software, such as Microsoft Power BI, SAS Business Intelligence, and MicroStrategy
CRM software, such as Salesforce Sales Cloud, Monday sales CRM, and HubSpot CRM

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.

This report presents a comprehensive analysis and additional information on the Technology market, in a PDF format.

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