ERP market projected to gain from European Union expansion

Besides opening markets in Eastern Europe, this year’s 10-nation,€40-billion expansion of the European Union (EU) is expected to result in more manufacturers in these countries needing enterprise resource planning (ERP) solutions in the next few years. Poland, Hungary, the Czech Republic, Slovakia, Slovenia, Estonia, Latvia, Lithuania, Cyprus and Malta are allbecoming EU members in 2004, pushing Europe’s borders to Russia and the Middle East.

The EU expansion will likely help the worldwide ERP market grow at a projected 5.7% compound annual growth rate (CAGR) from $9.1 billion in 2003 to more than $12 billion in 2008, according to a new study, “ERP Software and Services Worldwide Outlook,” by ARC Advisory Group. “The EU is the largest economic entity in the world, and it’s now solidified even further by its single currency, the euro. The EU is becoming even larger in 2004, and it is a key element of the growing ERP market,” says Steve Clouther, ARC analyst and principal author of ARC’s study.

Do you have experience and expertise with the topics mentioned in this content? You should consider contributing to our WTWH Media editorial team and getting the recognition you and your company deserve. Click here to start this process.