Enterprise Software - Romania

Romania

In 2024, the Enterprise Software market in Romania is expected to generate a projected revenue of US$159.70m.
Among the various segments, Customer Relationship Management Software is projected to dominate the market with a volume of US$46.17m in the same year.
Looking ahead, the market is expected to grow at an annual growth rate of 7.00% (CAGR 2024-2029), resulting in a market volume of US$224.00m by 2029.
Furthermore, the projected average Spend per Employee in the Enterprise Software market in Romania is estimated to reach US$19.44 in 2024.
It is worth noting that in a global comparison, United States is expected to generate the highest revenue in the Enterprise Software market, reaching US$150.50bn in 2024.
Romania is experiencing a growing demand for enterprise software solutions, driven by its thriving IT industry and a strong focus on digital transformation.

Key regions: France, United Kingdom, Australia, Canada, South Korea

Definition:

The Enterprise Software market covers software applications designed to support essential business activities by large organizations such as enterprise resource planning, customer relationship management, business intelligence, and supply chain management.

Products in the Enterprise 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.

Structure:

The Enterprise Software market contains eight markets that are based on the functionality of the software:

Business Intelligence Software refers to software applications that support organizations to analyze, visualize, and report data.
Content Management Software refers to a wide range of software applications that support organizations to manage their digital content such as documents, images, and videos.
Customer Relationship Management Software refers to software applications that support organizations to manage their interactions with customers, clients, and prospects.
eCommerce Software refers to a wide range of software applications that support organizations to manage their online sales channels.
Enterprise Performance Management Software refers to software solutions that help organizations to manage and improve their performance across various areas, such as finance, operations, and strategy.
Enterprise Resource Planning Software refers to software applications that support organizations to manage, integrate and optimize important business activities related to resources such as people, finance, capital, materials, and orders.
Supply Chain Management Software refers to software applications that support organizations to manage their supply chain activities such as inventory optimization, supplier and vendor management, and logistic operations.
AI Development Tool Software refers to a specialized category of software designed to facilitate the creation, testing, deployment, and management of artificial intelligence (AI) models and applications.
Other Enterprise Software refers to aggregated revenues for the types of enterprise software that are not specifically mentioned in the other Enterprise Software markets, such as Project Management Software, Product Life Cycle Management Software, and Production and Operation Software.

Additional Information:

The Enterprise Software market comprises revenue and revenue growth as the key performance indicators. Only 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 revenues generated by resellers are excluded. Revenues are generated through both online and offline sales channels and include spending by enterprises (B2B) as well as governments (B2G). Detailed definitions of each market can be found on the respective page where the market data is displayed.

Key players in this market include SAP, Salesforce, Adobe, and Oracle.

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Analyst Opinion

The Enterprise Software market in Romania has been experiencing steady growth in recent years.

Customer preferences: Romanian businesses have been increasingly adopting enterprise software solutions to improve their operations and efficiency, as well as to remain competitive in the market. This has resulted in a higher demand for cloud-based solutions, as they offer flexibility, scalability, and cost-effectiveness. Additionally, businesses are looking for software that can be easily integrated with their existing systems, as well as solutions that offer data analytics and business intelligence capabilities.

Trends in the market: One of the major trends in the Enterprise Software market in Romania is the increasing adoption of Software-as-a-Service (SaaS) solutions. This is due to the numerous benefits that SaaS offers, such as lower upfront costs, easy scalability, and automatic updates. Another trend is the growing demand for mobile enterprise software solutions, as businesses are looking for ways to increase productivity and efficiency on-the-go. Additionally, there has been a rise in the use of artificial intelligence (AI) and machine learning (ML) in enterprise software, as businesses seek to automate repetitive tasks and improve decision-making processes.

Local special circumstances: Romania has a large and growing tech industry, which has been a driving force behind the growth of the Enterprise Software market. Additionally, the country has a highly skilled and educated workforce, which has made it an attractive location for tech companies to set up operations. Furthermore, the government has been actively promoting the development of the tech industry, offering tax incentives and other benefits to businesses in the sector.

Underlying macroeconomic factors: The growth of the Enterprise Software market in Romania can also be attributed to the country's overall economic growth. Romania has been experiencing steady economic growth in recent years, which has resulted in increased investment in the tech industry. Additionally, the country has a large and growing middle class, which has led to increased demand for technology products and services. Finally, Romania's membership in the European Union has also played a role in the growth of the Enterprise Software market, as it has opened up new opportunities for businesses to expand their operations and reach new customers.

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.