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Enterprise Resource Planning Software - United Kingdom

United Kingdom

Revenue in the Enterprise Resource Planning Software market is projected to reach US$2.72bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 5.74%, resulting in a market volume of US$3.40bn by 2028.
The average Spend per Employee in the Enterprise Resource Planning Software market is projected to reach US$76.71 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

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Currency

Analyst Opinion

The Enterprise Resource Planning Software market in United Kingdom has been steadily growing in recent years.

Customer preferences: Businesses in the United Kingdom are increasingly adopting Enterprise Resource Planning Software to streamline their operations and improve efficiency. The software offers a range of benefits, such as automating business processes, reducing manual errors, and providing real-time data insights. Additionally, the rise of cloud-based ERP solutions has made the software more accessible to businesses of all sizes.

Trends in the market: One of the major trends in the Enterprise Resource Planning Software market in the United Kingdom is the increasing adoption of cloud-based solutions. This trend is being driven by the need for businesses to reduce their IT costs and improve flexibility. Another trend in the market is the integration of artificial intelligence and machine learning capabilities into ERP software. These capabilities enable businesses to automate repetitive tasks and make more informed decisions based on real-time data insights.

Local special circumstances: Brexit has had a significant impact on the Enterprise Resource Planning Software market in the United Kingdom. The uncertainty surrounding Brexit has led to a slowdown in business investment, which has affected the demand for ERP software. Additionally, the new data protection regulations introduced by the UK government have forced businesses to re-evaluate their data management practices, which has increased the demand for ERP software.

Underlying macroeconomic factors: The United Kingdom has a highly developed economy with a strong focus on the service sector. The country has a large number of small and medium-sized businesses, which are the primary users of Enterprise Resource Planning Software. Additionally, the rise of digital transformation has led to an increased demand for ERP software in the United Kingdom. The country has a highly skilled workforce and a supportive business environment, which has helped to drive the growth of the ERP software market.

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.