Enterprise Resource Planning Software - Finland

The Enterprise Resource Planning Software market in Finland is expected to see a significant increase in revenue.
In 2024, the projected revenue is estimated to reach US$253.20m.
This growth is anticipated to continue with an annual growth rate (CAGR 2024-2029) of 2.35%.
By 2029, the market volume is predicted to reach US$284.30m.
Furthermore, the average Spend per Employee in the Enterprise Resource Planning Software market is projected to reach US$87.82 in 2024.
When compared globally, it is noteworthy that United States is expected to generate the highest revenue in the market segment.
In 2024, United States is projected to generate a revenue of US$26.70bn.
Despite its small size, Finland has a strong presence in the ERP software market, with innovative solutions designed specifically for the needs of the country's unique business landscape.

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 Software market in Finland has been growing at a steady pace in recent years.

Customer preferences: Finnish companies are increasingly looking for ERP solutions that can integrate with other business software and provide real-time data analysis. Cloud-based ERP systems are also becoming more popular, as they offer greater flexibility and scalability than traditional on-premise solutions. Additionally, there is a growing demand for mobile ERP applications that allow employees to access data and perform tasks on-the-go.

Trends in the market: One of the key trends in the Finnish ERP market is the move towards industry-specific solutions. Companies are looking for ERP systems that are tailored to their specific needs and can provide industry-specific functionality and best practices. Another trend is the increasing use of artificial intelligence and machine learning in ERP systems, which can help automate routine tasks and provide predictive analytics.

Local special circumstances: Finland has a highly skilled workforce and a strong tradition of innovation, which has helped to drive the development of the local ERP market. Additionally, the country's small size and relatively homogeneous market make it an attractive target for ERP vendors, as they can easily tailor their solutions to the local market.

Underlying macroeconomic factors: Finland has a highly developed economy with a strong focus on technology and innovation. The country has a high level of digitalization and a well-educated workforce, which has helped to drive the adoption of ERP systems. Additionally, the Finnish government has been actively promoting digitalization and innovation, which has created a favorable environment for ERP vendors. However, the country's relatively small size and limited domestic market may pose challenges for ERP vendors looking to expand their presence in Finland.

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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