Market Insights Technology Software Enterprise Software

Enterprise Resource Planning Software - Hungary

Hungary

The Enterprise Resource Planning Software market in Hungary is expected to achieve a revenue of €63.19m by 2024.
This projection indicates a potential annual growth rate (CAGR 2024-2029) of 5.16%, leading to a market volume of €81.26m by 2029.
Furthermore, the average Spend per Employee in the Enterprise Resource Planning Software market is estimated to reach €12.54 in 2024.
In terms of global comparison, United States is anticipated to generate the highest revenue, with a projected amount of €24,510.00m in 2024.
The demand for Enterprise Resource Planning software in Hungary is driven by the country's growing manufacturing sector.

Key regions: United Kingdom, China, Australia, Canada, United States

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Analyst Opinion

The Enterprise Resource Planning Software market in Hungary has been steadily growing in recent years, driven by a number of factors unique to the country.

Customer preferences: Hungarian businesses are increasingly turning to ERP software to help streamline their operations and improve efficiency. This is particularly true for small and medium-sized enterprises, which make up the majority of businesses in the country. These companies are looking for affordable, easy-to-use solutions that can help them manage their finances, inventory, and other key business processes.

Trends in the market: One of the biggest trends in the Hungarian ERP market is the rise of cloud-based solutions. Many businesses are now opting for software-as-a-service (SaaS) solutions, which offer a number of advantages over traditional on-premise software. These include lower upfront costs, easier scalability, and automatic updates and maintenance.Another trend is the increasing importance of mobile functionality. As more and more people use smartphones and tablets to access the internet, businesses are looking for ERP solutions that can be used on-the-go. This has led to the development of mobile apps and other mobile-friendly features in many ERP systems.

Local special circumstances: One unique factor driving the ERP market in Hungary is the country's complex tax system. Hungarian businesses are required to comply with a number of different tax regulations, which can be difficult to navigate without the right software. As a result, many businesses are turning to ERP solutions that offer robust tax management features.Another factor is the country's geographic location. Hungary is situated at the crossroads of Europe, making it an important hub for trade and commerce. This has led to the development of a number of specialized ERP solutions tailored to the needs of businesses involved in international trade.

Underlying macroeconomic factors: The Hungarian economy has been growing steadily in recent years, driven by strong exports and domestic consumption. This has created a favorable environment for businesses of all sizes, including those looking to invest in ERP software.In addition, the Hungarian government has implemented a number of initiatives aimed at supporting small and medium-sized enterprises. These include tax breaks, subsidies, and other incentives designed to help businesses grow and thrive. As a result, many businesses are now in a strong position to invest in new technologies like ERP software.

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.