Market Insights Technology Software Enterprise Software

Enterprise Resource Planning Software - Finland

Finland

Revenue in the Enterprise Resource Planning Software market is projected to reach US$251.20m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 2.70%, resulting in a market volume of US$279.50m by 2028.
The average Spend per Employee in the Enterprise Resource Planning Software market is projected to reach US$91.54 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 Software market in Finland has been growing at a steady pace in recent years.

Customer preferences: Finnish companies are increasingly looking for ERP solutions that can integrate with other business software and provide real-time data analysis. Cloud-based ERP systems are also becoming more popular, as they offer greater flexibility and scalability than traditional on-premise solutions. Additionally, there is a growing demand for mobile ERP applications that allow employees to access data and perform tasks on-the-go.

Trends in the market: One of the key trends in the Finnish ERP market is the move towards industry-specific solutions. Companies are looking for ERP systems that are tailored to their specific needs and can provide industry-specific functionality and best practices. Another trend is the increasing use of artificial intelligence and machine learning in ERP systems, which can help automate routine tasks and provide predictive analytics.

Local special circumstances: Finland has a highly skilled workforce and a strong tradition of innovation, which has helped to drive the development of the local ERP market. Additionally, the country's small size and relatively homogeneous market make it an attractive target for ERP vendors, as they can easily tailor their solutions to the local market.

Underlying macroeconomic factors: Finland has a highly developed economy with a strong focus on technology and innovation. The country has a high level of digitalization and a well-educated workforce, which has helped to drive the adoption of ERP systems. Additionally, the Finnish government has been actively promoting digitalization and innovation, which has created a favorable environment for ERP vendors. However, the country's relatively small size and limited domestic market may pose challenges for ERP vendors looking to expand their presence in Finland.

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.