Enterprise Resource Planning Software - GCC

The Enterprise Resource Planning Software market in the GCC is anticipated to witness a significant growth trajectory, with projected revenue reaching US$314.20m by 2024.
This positive trend is further expected to continue, displaying an annual growth rate (CAGR 2024-2029) of 3.33%.
Consequently, the market volume is anticipated to surge to US$370.10m by 2029.
Moreover, it is worth noting that the average Spend per Employee in the GCC's Enterprise Resource Planning Software market is projected to reach US$9.98 in 2024.
This metric indicates the extent to which businesses in the GCC are investing in ERP solutions to improve their operational efficiency and streamline processes.
In terms of global comparison, United States is projected to generate the highest revenue in the Enterprise Resource Planning Software market, with an estimated US$26.70bn in 2024.
This underscores the dominance of the US market and its robust demand for ERP software solutions.
"GCC businesses are increasingly adopting cloud-based ERP software solutions to enhance operational efficiency and streamline business processes."

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 GCC has been experiencing steady growth in recent years.

Customer preferences: The increasing adoption of cloud-based ERP solutions has been a major trend in the GCC region. Customers are looking for more flexible and scalable solutions that can be accessed from anywhere, at any time. Additionally, there is a growing demand for ERP systems that can integrate with other business applications, such as customer relationship management (CRM) and supply chain management (SCM) software.

Trends in the market: The ERP software market in GCC is expected to continue growing due to several factors. One of the main drivers is the increasing adoption of digital technologies by businesses in the region. This is leading to a greater need for ERP solutions that can help companies manage their operations more efficiently and effectively. Additionally, the growing focus on data analytics and business intelligence is driving demand for ERP systems that can provide real-time insights into business performance. Another trend in the market is the increasing use of mobile devices for business operations. This has led to a greater demand for mobile-friendly ERP solutions that can be accessed from smartphones and tablets. Additionally, there is a growing interest in artificial intelligence (AI) and machine learning (ML) technologies, which are being integrated into ERP systems to provide more advanced analytics and automation capabilities.

Local special circumstances: The GCC region has its own unique set of circumstances that are driving the growth of the ERP software market. One of the main factors is the region's focus on diversifying its economy away from oil and gas. This has led to a greater emphasis on developing non-oil sectors, such as tourism, healthcare, and education. As these sectors continue to grow, there is a greater need for ERP solutions that can help businesses manage their operations more efficiently. Additionally, the region's growing population and urbanization are driving demand for ERP systems that can help manage the increasing complexity of urban infrastructure and services. Finally, the GCC's strategic location between Asia, Europe, and Africa makes it an attractive destination for businesses looking to expand their operations globally. This is leading to a greater demand for ERP systems that can help manage global supply chains and logistics.

Underlying macroeconomic factors: Several underlying macroeconomic factors are driving the growth of the ERP software market in GCC. One of the main drivers is the region's young and tech-savvy population, which is driving demand for digital solutions across all sectors. Additionally, the GCC's strong economic growth and investment in infrastructure are creating favorable conditions for businesses to invest in ERP systems. Finally, the region's favorable business environment, which includes low taxes and minimal regulations, is attracting businesses from around the world and driving demand for ERP solutions that can help manage global operations.

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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