Enterprise Resource Planning Software - Serbia

The Enterprise Resource Planning Software market in Serbia is expected to witness significant growth in the coming years.
According to projections, the revenue in this market is set to reach US$15.17m by 2024.
Furthermore, it is anticipated that the market will experience a steady annual growth rate (CAGR 2024-2029) of 8.41%, resulting in a market volume of US$22.71m by 2029.
Moreover, it is noteworthy that the average Spend per Employee in the Enterprise Resource Planning Software market is projected to reach US$4.67 in 2024.
This indicates that businesses in Serbia are increasingly investing in this software to streamline their operations and improve efficiency.
In terms of global comparison, it is expected that United States will generate the highest revenue in the Enterprise Resource Planning Software market, with an estimated revenue of US$26.70bn in 2024.
This highlights the dominant position of the United States in this market segment.
Overall, the Enterprise Resource Planning Software market in Serbia is poised for growth, with increasing adoption and investment in this technology.
With the projected revenue and market volume, it is evident that businesses in Serbia recognize the importance of implementing robust ERP solutions to drive their operations forward.
Serbia's growing tech industry and skilled workforce make it an emerging market for Enterprise Resource Planning Software, attracting global software companies.

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 Serbia has been steadily growing in recent years, with an increasing number of businesses adopting these solutions to streamline their operations and improve efficiency.

Customer preferences: Serbian businesses are increasingly looking for ERP solutions that can help them manage their finances, sales, inventory, and other key business processes. Many companies are also looking for cloud-based solutions that offer greater flexibility and scalability, as well as mobile access to data and analytics.

Trends in the market: One of the key trends in the ERP software market in Serbia is the growing demand for cloud-based solutions. As more businesses look to move their operations to the cloud, there is a growing need for ERP solutions that can be accessed from anywhere, at any time. Another trend is the increasing use of analytics and data-driven insights to inform decision-making and improve business performance. Many ERP solutions now offer advanced analytics and reporting capabilities that can help businesses gain deeper insights into their operations and make more informed decisions.

Local special circumstances: One of the key challenges facing the ERP software market in Serbia is the relatively low level of digitalization in many businesses. While larger companies are often early adopters of new technologies, many small and medium-sized businesses in Serbia are still reliant on manual processes and paper-based systems. This can make it challenging for these businesses to adopt new ERP solutions, as they may not have the necessary infrastructure or expertise in place.

Underlying macroeconomic factors: Serbia's economy has been growing steadily in recent years, with a focus on attracting foreign investment and promoting entrepreneurship. This has created a favorable business environment for ERP software providers, as more businesses look to modernize their operations and improve efficiency. Additionally, the government has implemented a number of initiatives aimed at promoting digitalization and supporting the growth of the technology sector, which has further fueled demand for ERP solutions.

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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