ERP Software Market by Component (Software and Service), by Deployment (On-premise, Cloud, and Hybrid), by Business Function (Finance, Human Resource (HR), Supply Chain, Customer Management, inventory Management, Manufacturing Module, and Others), by
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Market Definition:
The Global ERP Software Market size was valued at USD 37.53 billion in 2019 and is predicted to reach USD 68.34 billion by 2030 with a CAGR of 5.6% from 2020-2030.
Enterprise Resource Planning (ERP) software integrates and automates the entire business ecosystem, by providing quality business management, enhanced traceability, increased production capacity, and greater tax support.
ERP software proficiently handles Human Resource (HR) management, inventory management, customer management, product planning, manufacturing, sales, and marketing. ERP software assists in monitoring the entire supply chain from a single user interface, with reduced errors and higher operational efficiency.
Market Dynamics and Trends
The global ERP software market is proliferating due to growing demand from manufacturing industry, small & medium scale enterprises, and corporate sector. Moreover, increasing demand for Human Resource module, is projected to create ample opportunities for the growth of ERP software market.
Furthermore, factors such as increasing penetration of AI, API, IoT, automation, and robotics technologies, growing preferences to digitize entire business ecosystem, and upsurge in cloud computing, are anticipated to supplement the growth of ERP software market in coming future.
However, availability of open source applications and high maintenance cost are expected to negatively impact the growth of ERP software market.
Moreover, emergence of large enterprises and proliferating BFSI sector raises the demand for efficient ERP solutions, thereby propelling the growth of ERP software market throughout the forecast period.
Market Segmentations and Scope of the Study:
The global ERP software market share has been analyzed based on component, deployment, business function, industry vertical, end user and geography.
Based on component type, the ERP software market is divided into software and service based. Based on deployment, the market is fragmented into cloud, hybrid, and on-premise. Based on business function, the market is segmented into finance, Human Resource (HR), supply chain, customer management, inventory management, manufacturing module, and others. Based on industry vertical, the ERP software market is bifurcated into manufacturing, retail & distribution, BFSI, healthcare, government & utilities, IT & telecom, aerospace & defense, construction, and others. Based on end user, the market is divided into large enterprises, medium enterprises, and small enterprises. Geographic breakdown and analysis of each of the previously mentioned segments include regions comprising North America, Europe, Asia-Pacific, and RoW.
Geographical Analysis
North America dominated the global ERP software market in the past and is expected to maintain this trend throughout the forecast period, owing to presence of ERP software traders in large numbers. Moreover, factors such as higher adoption of cloud computing for business orientation, higher economic standards, and increased penetration of new markets, are projected to propel the growth of ERP software market throughout the forecast period.
Asia Pacific is expected to witness a substantial market growth accounting for the highest CAGR values in the global ERP software market, throughout the forecast period. This is attributed to presence of emerging economies especially India and China, evolution of small business enterprises, and growing awareness regarding the benefits offered by ERP software in managing the overall business ecosystem.
The ERP software market is highly competitive and consists of various market players. Some of the major market players include Oracle Corporation, SAP SE, Sage Software Solutions Pvt. Ltd., Infor, Workday, Inc., Epicor Software Corporation, Microsoft Corporation, SYSPRO, Deskera, and IFS among others.
The key players are employing strategies such as product launches, technical collaboration, and acquisition in-order to gain stronger position in the ERP software market.
For instance, in September 2019, Oracle Corporation, one of the major players in the ERP software market, announced the availability of Oracle Analytics, a Fusion ERP product. This is the first-ever application umbrella service, delivered under Oracle Analytics Cloud, that consolidates more than 18 Oracle BI and analytics products under a single brand value.
In April 2020, SYSPRO, the pioneer in industrial-built ERP software, announced its latest ERP product with enhanced features, that enables the manufacturers and distributors to securely integrate and automate the entire business ecosystem.
In June 2020, Infor, a leading business cloud software specialized industry in the ERP software market, announced that De Menken Keuken has chosen the Infor M3 ERP solution, to enhance its operational efficacy, assist in providing business continuity, and support its business growth. Along with this, Infor M3 ERP solution promises to enhance the quality management, increase tracing capabilities, and ensure quality business management of the entire manufacturing, warehousing, distribution, and supply chain.
KEY MARKET SEGMENTS:
Global ERP Software market – By Component
Software
Service
Global ERP Software market – By Deployment
On-premise
Hybrid
Cloud
Global ERP Software market – By Business Function
Finance
Human Resource (HR)
Supply Chain
Customer Management
Inventory Management
Manufacturing Module
Others
Global ERP Software market – By Industry Vertical
Manufacturing
BFSI
Healthcare
Retail & Distribution
Government & Utilities
IT & Telecom
Construction
Aerospace and Defense
Others
Global ERP Software market – By End User
Large Enterprises
Medium Enterprises
Small Enterprises
Global ERP Software market –By Geography
North America
U.S.
Canada
Mexico
Europe
UK
Germany
France
Italy
Rest of Europe
Asia-Pacific
China
India
Japan
Australia
Rest of Asia-Pacific
RoW
Latin America
Middle East
Africa
The Global ERP Software Market size was valued at USD 37.53 billion in 2019 and is predicted to reach USD 68.34 billion by 2030 with a CAGR of 5.6% from 2020-2030.
Enterprise Resource Planning (ERP) software integrates and automates the entire business ecosystem, by providing quality business management, enhanced traceability, increased production capacity, and greater tax support.
ERP software proficiently handles Human Resource (HR) management, inventory management, customer management, product planning, manufacturing, sales, and marketing. ERP software assists in monitoring the entire supply chain from a single user interface, with reduced errors and higher operational efficiency.
Market Dynamics and Trends
The global ERP software market is proliferating due to growing demand from manufacturing industry, small & medium scale enterprises, and corporate sector. Moreover, increasing demand for Human Resource module, is projected to create ample opportunities for the growth of ERP software market.
Furthermore, factors such as increasing penetration of AI, API, IoT, automation, and robotics technologies, growing preferences to digitize entire business ecosystem, and upsurge in cloud computing, are anticipated to supplement the growth of ERP software market in coming future.
However, availability of open source applications and high maintenance cost are expected to negatively impact the growth of ERP software market.
Moreover, emergence of large enterprises and proliferating BFSI sector raises the demand for efficient ERP solutions, thereby propelling the growth of ERP software market throughout the forecast period.
Market Segmentations and Scope of the Study:
The global ERP software market share has been analyzed based on component, deployment, business function, industry vertical, end user and geography.
Based on component type, the ERP software market is divided into software and service based. Based on deployment, the market is fragmented into cloud, hybrid, and on-premise. Based on business function, the market is segmented into finance, Human Resource (HR), supply chain, customer management, inventory management, manufacturing module, and others. Based on industry vertical, the ERP software market is bifurcated into manufacturing, retail & distribution, BFSI, healthcare, government & utilities, IT & telecom, aerospace & defense, construction, and others. Based on end user, the market is divided into large enterprises, medium enterprises, and small enterprises. Geographic breakdown and analysis of each of the previously mentioned segments include regions comprising North America, Europe, Asia-Pacific, and RoW.
Geographical Analysis
North America dominated the global ERP software market in the past and is expected to maintain this trend throughout the forecast period, owing to presence of ERP software traders in large numbers. Moreover, factors such as higher adoption of cloud computing for business orientation, higher economic standards, and increased penetration of new markets, are projected to propel the growth of ERP software market throughout the forecast period.
Asia Pacific is expected to witness a substantial market growth accounting for the highest CAGR values in the global ERP software market, throughout the forecast period. This is attributed to presence of emerging economies especially India and China, evolution of small business enterprises, and growing awareness regarding the benefits offered by ERP software in managing the overall business ecosystem.
Competitive Landscape
The ERP software market is highly competitive and consists of various market players. Some of the major market players include Oracle Corporation, SAP SE, Sage Software Solutions Pvt. Ltd., Infor, Workday, Inc., Epicor Software Corporation, Microsoft Corporation, SYSPRO, Deskera, and IFS among others.
The key players are employing strategies such as product launches, technical collaboration, and acquisition in-order to gain stronger position in the ERP software market.
For instance, in September 2019, Oracle Corporation, one of the major players in the ERP software market, announced the availability of Oracle Analytics, a Fusion ERP product. This is the first-ever application umbrella service, delivered under Oracle Analytics Cloud, that consolidates more than 18 Oracle BI and analytics products under a single brand value.
In April 2020, SYSPRO, the pioneer in industrial-built ERP software, announced its latest ERP product with enhanced features, that enables the manufacturers and distributors to securely integrate and automate the entire business ecosystem.
In June 2020, Infor, a leading business cloud software specialized industry in the ERP software market, announced that De Menken Keuken has chosen the Infor M3 ERP solution, to enhance its operational efficacy, assist in providing business continuity, and support its business growth. Along with this, Infor M3 ERP solution promises to enhance the quality management, increase tracing capabilities, and ensure quality business management of the entire manufacturing, warehousing, distribution, and supply chain.
KEY MARKET SEGMENTS:
Global ERP Software market – By Component
Software
Service
Global ERP Software market – By Deployment
On-premise
Hybrid
Cloud
Global ERP Software market – By Business Function
Finance
Human Resource (HR)
Supply Chain
Customer Management
Inventory Management
Manufacturing Module
Others
Global ERP Software market – By Industry Vertical
Manufacturing
BFSI
Healthcare
Retail & Distribution
Government & Utilities
IT & Telecom
Construction
Aerospace and Defense
Others
Global ERP Software market – By End User
Large Enterprises
Medium Enterprises
Small Enterprises
Global ERP Software market –By Geography
North America
U.S.
Canada
Mexico
Europe
UK
Germany
France
Italy
Rest of Europe
Asia-Pacific
China
India
Japan
Australia
Rest of Asia-Pacific
RoW
Latin America
Middle East
Africa
Frequently Asked Questions
This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.
- By product type
- By End User/Applications
- By Technology
- By Region
The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.
Details
NMS-18644771
01-Aug-2020
480
01-Aug-2020
480
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