Enterprise Resource Planning Software - Estonia

The Enterprise Resource Planning Software market is expected to witness a significant revenue growth in the coming years.
According to projections, Estonia's revenue in this market is estimated to reach US$8.53m in 2024.
This growth is further predicted to continue with an annual growth rate of 4.54% (CAGR 2024-2029), resulting in a market volume of US$10.65m by 2029.
Furthermore, the average Spend per Employee in the Enterprise Resource Planning Software market is projected to increase to US$11.31 in 2024.
In a global comparison, it is noteworthy that United States is expected to generate the highest revenue in the Enterprise Resource Planning Software market, with an estimated revenue of US$26.70bn in 2024.
Estonia's thriving tech ecosystem has propelled the adoption of cloud-based ERP software, making it a hotbed for innovative 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 Estonia has seen significant growth in recent years.

Customer preferences: Estonian businesses are increasingly adopting ERP software to streamline their operations and improve efficiency. This is in line with global trends, as more companies recognize the benefits of digitalization and automation. In particular, small and medium-sized enterprises (SMEs) are turning to ERP solutions to compete with larger companies and stay relevant in a rapidly changing business environment.

Trends in the market: One of the key trends in the Estonian ERP software market is the shift towards cloud-based solutions. Cloud ERP systems offer several advantages over traditional on-premise software, including lower upfront costs, greater scalability, and easier integration with other cloud-based tools. This trend is expected to continue as more businesses embrace cloud technology.Another trend in the market is the increasing demand for mobile ERP solutions. With more employees working remotely or on-the-go, mobile access to ERP software is becoming essential for many businesses. This trend is particularly relevant in Estonia, where the high level of digital infrastructure and tech-savvy population make mobile solutions a natural fit.

Local special circumstances: Estonia is a small but highly digitalized country, with a strong focus on innovation and technology. This has created a favorable environment for ERP software providers, as Estonian businesses are generally open to adopting new technologies and digital solutions. In addition, the country's relatively low labor costs and favorable tax environment make it an attractive location for foreign companies looking to establish a presence in the region.

Underlying macroeconomic factors: The Estonian economy has been growing steadily in recent years, driven by strong export performance and a favorable business climate. This has created a positive environment for ERP software providers, as businesses look to invest in tools and technologies that can help them stay competitive and grow their operations. In addition, Estonia's membership in the European Union provides access to a large market and favorable trade agreements, further supporting the growth of the ERP software market in the country.

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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