Market Insights Technology Software Enterprise Software

Enterprise Resource Planning Software - Norway

Norway

Revenue in the Enterprise Resource Planning Software market is projected to reach US$233.80m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 0.83%, resulting in a market volume of US$241.70m by 2028.
The average Spend per Employee in the Enterprise Resource Planning Software market is projected to reach US$79.70 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

Norway, known for its high standard of living and strong welfare system, has a growing market for Enterprise Resource Planning (ERP) software.

Customer preferences: Norwegian companies are increasingly turning to ERP software to improve their business processes and increase efficiency. They are looking for software that can integrate all aspects of their business, from accounting to inventory management, into a single system. Additionally, Norwegian companies place a high value on data security and are looking for ERP solutions that can provide robust security features.

Trends in the market: One trend in the Norwegian ERP market is the adoption of cloud-based ERP solutions. This allows companies to access their data from anywhere, making it easier for remote teams to collaborate. Another trend is the integration of artificial intelligence (AI) and machine learning (ML) into ERP software. This can help companies automate tasks and make more informed business decisions based on data analysis.

Local special circumstances: Norway has a strong focus on sustainability and environmental responsibility. This has led to an increased demand for ERP solutions that can help companies reduce their carbon footprint and improve their sustainability practices. Additionally, the Norwegian government has implemented strict data privacy laws, which has created a need for ERP solutions with strong security features.

Underlying macroeconomic factors: Norway has a strong and stable economy, with a high GDP per capita and low unemployment rate. This has created a favorable environment for businesses to invest in ERP software to improve their operations. Additionally, Norway has a highly skilled workforce, which has led to the development of innovative ERP solutions tailored to the needs of Norwegian companies.

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.