Market Insights Technology Software Enterprise Software

Enterprise Resource Planning Software - Serbia

Serbia

Revenue in the Enterprise Resource Planning Software market is projected to reach US$14.83m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 8.79%, resulting in a market volume of US$20.77m by 2028.
The average Spend per Employee in the Enterprise Resource Planning Software market is projected to reach US$3.77 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 Serbia has been steadily growing in recent years, with an increasing number of businesses adopting these solutions to streamline their operations and improve efficiency.

Customer preferences: Serbian businesses are increasingly looking for ERP solutions that can help them manage their finances, sales, inventory, and other key business processes. Many companies are also looking for cloud-based solutions that offer greater flexibility and scalability, as well as mobile access to data and analytics.

Trends in the market: One of the key trends in the ERP software market in Serbia is the growing demand for cloud-based solutions. As more businesses look to move their operations to the cloud, there is a growing need for ERP solutions that can be accessed from anywhere, at any time. Another trend is the increasing use of analytics and data-driven insights to inform decision-making and improve business performance. Many ERP solutions now offer advanced analytics and reporting capabilities that can help businesses gain deeper insights into their operations and make more informed decisions.

Local special circumstances: One of the key challenges facing the ERP software market in Serbia is the relatively low level of digitalization in many businesses. While larger companies are often early adopters of new technologies, many small and medium-sized businesses in Serbia are still reliant on manual processes and paper-based systems. This can make it challenging for these businesses to adopt new ERP solutions, as they may not have the necessary infrastructure or expertise in place.

Underlying macroeconomic factors: Serbia's economy has been growing steadily in recent years, with a focus on attracting foreign investment and promoting entrepreneurship. This has created a favorable business environment for ERP software providers, as more businesses look to modernize their operations and improve efficiency. Additionally, the government has implemented a number of initiatives aimed at promoting digitalization and supporting the growth of the technology sector, which has further fueled demand for ERP solutions.

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.