Market Insights Technology Software Enterprise Software

Enterprise Resource Planning Software - Bosnia and Herzegovina

Bosnia and Herzegovina

Revenue in the Enterprise Resource Planning Software market is projected to reach US$13.18m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 5.78%, resulting in a market volume of US$16.50m by 2028.
The average Spend per Employee in the Enterprise Resource Planning Software market is projected to reach US$10.42 in 2024.
In global comparison, most revenue will be generated in the United States (US$26,440.00m in 2024).

Key regions: Australia, South Korea, China, United States, Japan

Market

Region

Region comparison

Currency

Analyst Opinion

The Enterprise Resource Planning (ERP) Software market in Bosnia and Herzegovina has been experiencing steady growth in recent years.

Customer preferences: Bosnia and Herzegovina is a developing country with a growing number of small and medium-sized enterprises (SMEs). These SMEs are increasingly adopting ERP software to streamline their operations and improve efficiency. Additionally, larger enterprises are also investing in ERP software to improve their supply chain management, financial management, and human resource management.

Trends in the market: One of the key trends in the ERP software market in Bosnia and Herzegovina is the adoption of cloud-based ERP solutions. This trend is driven by the need for cost-effective and flexible solutions that can be accessed from anywhere. Another trend is the integration of artificial intelligence (AI) and machine learning (ML) into ERP software, which is improving data analysis and decision-making capabilities.

Local special circumstances: Bosnia and Herzegovina has a unique business environment due to its complex political structure and the legacy of the 1990s war. This has resulted in a fragmented market with a mix of local and international ERP vendors. Furthermore, there is a lack of standardization in business processes and regulations, which can make it challenging for businesses to adopt ERP software.

Underlying macroeconomic factors: Bosnia and Herzegovina is a country with a low GDP per capita compared to other European countries. However, the country has been experiencing steady economic growth in recent years, which has led to an increase in the number of businesses and a growing demand for ERP software. Additionally, the country's strategic location and favorable tax policies make it an attractive destination for foreign investors, which is driving the growth of the ERP software market.

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.