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Enterprise Resource Planning Software - Eastern Europe

Eastern Europe

The Enterprise Resource Planning Software market in Eastern Europe is expected to witness significant growth in the coming years.
According to projections, the market revenue is anticipated to reach US$0.70bn by 2024.
Moreover, the market is expected to exhibit a robust compound annual growth rate (CAGR) of 18.85% from 2024 to 2029, resulting in a market volume of US$1.66bn by the end of the forecast period.
In terms of spending, the average Spend per Employee in the Eastern European Enterprise Resource Planning Software market is projected to reach US$5.96 in 2024.
This indicates the level of investment and importance placed on such software solutions in the region.
When comparing the global market, it is worth noting that United States is expected to generate the highest revenue in the Enterprise Resource Planning Software market industry, with a projected revenue of US$26,700.00m in 2024.
This highlights the dominance of the US market in this segment.
In Eastern Europe, the growing demand for Enterprise Resource Planning Software is driven by the need for streamlined and efficient business operations.

Key regions: United Kingdom, China, Australia, Canada, United States

Market

Region

Region comparison

Currency

Analyst Opinion

The Enterprise Resource Planning Software market in Eastern Europe has been experiencing steady growth in recent years.

Customer preferences: Customers in Eastern Europe are increasingly looking for ERP software that is customizable, easy to use, and provides real-time data analytics. They are also looking for software that can integrate with other business applications and automate routine tasks.

Trends in the market: One of the major trends in the Eastern European ERP software market is the adoption of cloud-based solutions. This is due to the increasing availability of high-speed internet and the need for businesses to access their data from anywhere. Another trend is the growing demand for mobile ERP solutions that can be accessed on smartphones and tablets. Additionally, there is a trend towards the integration of artificial intelligence and machine learning into ERP software, which can help businesses make better decisions and improve efficiency.

Local special circumstances: The Eastern European ERP software market is unique in that it is highly fragmented, with many small and medium-sized businesses using outdated software or manual processes. This presents an opportunity for ERP vendors to target these businesses and offer them modern solutions. Another special circumstance is the relatively low cost of labor in Eastern Europe, which makes it an attractive location for businesses to outsource their operations.

Underlying macroeconomic factors: The growth of the Eastern European ERP software market can be attributed to a number of macroeconomic factors. One of these is the region's improving economic conditions, which have led to an increase in business investment. Another factor is the region's skilled workforce, which is well-educated in technology and computer science. Finally, the region's proximity to Western Europe has made it an attractive location for businesses looking to expand into new markets.

Methodology

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.