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Enterprise Resource Planning Software - Saudi Arabia

Saudi Arabia

Revenue in the Enterprise Resource Planning Software market is projected to reach US$106.90m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 2.46%, resulting in a market volume of US$117.80m by 2028.
The average Spend per Employee in the Enterprise Resource Planning Software market is projected to reach US$7.00 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

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Analyst Opinion

The Enterprise Resource Planning Software market in Saudi Arabia has been experiencing significant growth in recent years.

Customer preferences: Saudi Arabian businesses are increasingly turning to Enterprise Resource Planning (ERP) software to streamline their operations and improve efficiency. This trend is driven by a desire to reduce costs, increase productivity, and improve the accuracy of financial reporting. In addition, as the business environment becomes more competitive, companies are looking for ways to gain a competitive advantage, and ERP software is seen as a key tool in achieving this goal.

Trends in the market: One of the key trends in the Saudi Arabian ERP software market is the increasing adoption of cloud-based solutions. Cloud-based ERP software offers a number of benefits over traditional on-premises solutions, including lower costs, greater flexibility, and easier scalability. As a result, more and more businesses in Saudi Arabia are turning to cloud-based ERP solutions to meet their needs.Another trend in the market is the increasing demand for mobile ERP solutions. As businesses become more mobile, there is a growing need for ERP software that can be accessed from anywhere, at any time. Mobile ERP solutions allow employees to access key business information from their smartphones or tablets, making it easier to stay connected and make informed decisions.

Local special circumstances: Saudi Arabia has a unique business environment, with a large number of small and medium-sized enterprises (SMEs) operating in the country. These SMEs often have limited resources and are looking for affordable, easy-to-use ERP solutions that can help them manage their operations more effectively. As a result, there is a growing demand for ERP software that is tailored to the needs of SMEs, with features such as simplified user interfaces and lower costs.

Underlying macroeconomic factors: The growth of the ERP software market in Saudi Arabia is being driven by a number of macroeconomic factors. One of the key drivers is the government's Vision 2030 program, which aims to diversify the economy and reduce the country's reliance on oil exports. As part of this program, the government is encouraging the development of the technology sector, which is seen as a key driver of economic growth.In addition, the increasing adoption of ERP software is being driven by the need to comply with new financial regulations. In recent years, the Saudi Arabian government has introduced a number of new regulations aimed at improving financial transparency and reducing fraud. ERP software can help businesses comply with these regulations by providing accurate financial reporting and improving internal controls.Overall, the ERP software market in Saudi Arabia is expected to continue growing in the coming years, driven by a combination of customer preferences, market trends, local special circumstances, and underlying macroeconomic factors.

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.