Market Insights Technology Software Enterprise Software

Enterprise Resource Planning Software - Romania

Romania

The Enterprise Resource Planning Software market in Romania is expected to achieve a revenue of US$28.61m by 2024.
Furthermore, a steady annual growth rate of 5.65% is anticipated for the period from 2024 to 2029, resulting in a market volume of US$37.66m by the end of 2029.
In terms of average Spend per Employee, in Romania is projected to reach a value of US$3.48 in 2024.
When comparing in Romania to other countries globally, it is worth noting that United States is expected to generate the highest revenue in the Enterprise Resource Planning Software market, with a projected revenue of US$26,700.00m by 2024.
Romania's adoption of Enterprise Resource Planning Software is steadily increasing, with businesses recognizing the need for streamlined operations and improved efficiency.

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

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Analyst Opinion

The Enterprise Resource Planning (ERP) Software market in Romania has been developing at a steady pace in recent years, driven by various factors unique to the country.

Customer preferences: Romanian businesses have shown a growing interest in ERP software solutions due to their ability to streamline business processes, increase productivity, and reduce costs. The demand for ERP software is particularly high among small and medium-sized enterprises (SMEs) looking to compete with larger companies by adopting modern technologies.

Trends in the market: One of the major trends in the Romanian ERP software market is the shift towards cloud-based solutions. Cloud-based ERP software offers several advantages, including lower upfront costs, automatic updates, and easy scalability. Another trend is the integration of artificial intelligence (AI) and machine learning (ML) capabilities into ERP software, which can help businesses automate routine tasks and make data-driven decisions.

Local special circumstances: The Romanian ERP software market is unique in that it is heavily influenced by government regulations and policies. For example, the government has implemented several initiatives aimed at promoting the adoption of digital technologies among SMEs, including providing funding and support for businesses looking to invest in ERP software solutions. Additionally, the country's relatively low labor costs and highly skilled workforce have made it an attractive location for outsourcing IT services, including ERP software development and implementation.

Underlying macroeconomic factors: Romania's economy has been growing steadily in recent years, driven by strong domestic demand and increasing foreign investment. The country's membership in the European Union has also helped to promote economic growth and development. As a result, Romanian businesses have been investing in modern technologies, including ERP software solutions, to remain competitive in the global market. However, the country still faces challenges related to corruption, bureaucracy, and an underdeveloped infrastructure, which can hinder the growth of the ERP software market in the long term.

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.