Market Insights Technology Software Enterprise Software

Enterprise Resource Planning Software - Lithuania

Lithuania

Revenue in the Enterprise Resource Planning Software market is projected to reach US$13.22m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 4.87%, resulting in a market volume of US$15.99m by 2028.
The average Spend per Employee in the Enterprise Resource Planning Software market is projected to reach US$10.08 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 Lithuania has been growing steadily in recent years, driven by a combination of customer preferences, local special circumstances, and underlying macroeconomic factors.

Customer preferences: Lithuanian businesses have been increasingly adopting ERP software to improve their operational efficiency and streamline their business processes. This is driven by a desire to reduce costs, increase productivity, and gain greater visibility into their operations. Additionally, Lithuanian businesses are increasingly looking for cloud-based ERP solutions that offer greater flexibility and scalability.

Trends in the market: One of the key trends in the Lithuanian ERP software market is the growing adoption of cloud-based solutions. Cloud-based ERP software is becoming increasingly popular among Lithuanian businesses due to its flexibility, scalability, and affordability. Another trend is the increasing demand for mobile ERP solutions that allow employees to access critical business information from anywhere, at any time.

Local special circumstances: Lithuania has a highly educated workforce, with a large pool of skilled IT professionals. This has made the country an attractive destination for IT companies looking to establish a presence in the region. Additionally, Lithuania has a favorable business environment, with a low corporate tax rate and a supportive government that is committed to promoting entrepreneurship and innovation.

Underlying macroeconomic factors: The Lithuanian economy has been growing steadily in recent years, with GDP growth averaging around 3% per year. This growth has been driven by a combination of factors, including strong exports, a growing tourism industry, and increasing foreign investment. Additionally, Lithuania has a highly developed infrastructure, including a modern telecommunications network and a well-educated workforce, which has helped to attract foreign investment and support the growth of the IT sector.

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.