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Calculate Market Size

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  • 20-01-2014 2:44pm
    #1
    Chesty08
    Registered Users Posts: 6,083 ✭✭✭


    Hi guys,

    I am making an application to Enterprise Ireland and I am trying to establish what our overall market size is.

    Our target is mid-market companies with ERP software

    Any recommended sites that I should look at to help me establish the correct amount


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    #2
    Peterdalkey
    Closed Accounts Posts: 2,091 ✭✭✭Peterdalkey


    This will seem a very odd suggestion but I suspect the best source for this information is likely to be EI themselves!! They have a very comprehensive software speciaist unit!!


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    #3
    MyPerfectCousin
    Registered Users Posts: 741 ✭✭✭MyPerfectCousin


    What's your definition of mid-market companies?

    How many of them are there in territories (just Ireland?) you are going to target?

    I'd check CSO, Eurostat, etc. for stats on number of businesses by size.

    That will get you to market size in terms of potential buyers. To get a $ figure you'd need to multiply total number of companies x annual ERP spend per company.


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    #4
    Chesty08
    Registered Users Posts: 6,083 ✭✭✭Chesty08


    MyPerfectCousin wrote: »
    What's your definition of mid-market companies?

    How many of them are there in territories (just Ireland?) you are going to target?

    I'd check CSO, Eurostat, etc. for stats on number of businesses by size.

    That will get you to market size in terms of potential buyers. To get a $ figure you'd need to multiply total number of companies x annual ERP spend per company.

    Ireland & UK is our target.

    Just the standard definition of mid-market,

    Gonna check a couple of these for stats


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    #5
    Peterdalkey
    Closed Accounts Posts: 2,091 ✭✭✭Peterdalkey


    Mid market means nothing in terms of enterprise size, except for stock market quoted companies who are described as mid cap!

    Company category
    Employees
    Turnover
    Balance sheet total


    Medium-sized
    < 250
    ≤ € 50 m
    ≤ € 43 m
    Small
    < 50
    ≤ € 10 m
    ≤ € 10 m
    Micro
    < 10
    ≤ € 2 m
    ≤ € 2 m

    Sorry the table does not replicate nicely on here but you can get the idea.

    You are going to hate the next bit. You know, I know and EI know that there are thousands of companies between here and the UK who make up Medium in SME..ie 50+ employees. Ireland . So plenty of market. There are also a huge number of software solutions on offer. The compelling argument is to know what such systems cost and how your offering is going to take a particular number of users, your USP. Better, easier, cheaper, etc etc.
    Sizing a market and then extrapolating a modest %age for your share went out with the ark and is generally impossible to stand up. It just makes you look naive, in my opinion.

    EI want to see real examples of competitive advantage and to be honest SME ERP systems are hardly sexy compared to the kinds of software/ techie projects that VCs want to invest in. You are competing in that space.

    One cannot know from your post whether you have a very well positioned/established product in the market here and just want to expand into the UK or whether you are a start up. My advice may be gold or just stones in your pockets.


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