The report titled “ERP Software Market” assesses the global and regional market based on deployment mode, business function, end user, and region. A comprehensive report provides a detailed historical and future market size with trend analysis. The report underlines the market share analysis, competition overview, strategic imperatives, annual sales figures, growth avenues, and competition assessment for the target players assessed in the ERP software market study.
Market Overview and Dynamics: Operational efficiency of ERP software to rise during the Forecast Period
The ERP software market is expected to grow at a CAGR of around 9% during the forecast period of 2022-2028. Increasing cloud adoption due to significant consumer shift from offline to online particularly to mobile devices, such as smartphones and laptops, and the rising popularity of ERP software to increase operational efficiency helping the global ERP software market to grow significantly.
The global ERP software market is set to observe significant growth in the next six years, primarily driven by the increasing demand for data-driven decision-making, rising adoption of mobile and cloud applications, and the growing need for operational efficiency and transparency in business processes. Moreover, the adoption of cloud services is on the rise in recent times owing to the low infrastructure costs and ability to integrate with mobile devices. Also, amid the COVID-19 pandemic, the demand for cloud-based ERP solutions has surged immensely which has further boosted the market growth.
North America is leading the global ERP software market owing to the large adoption of ERP solutions by SMEs and large organizations coupled with the presence of prominent ERP solutions providers in the region. The growing manufacturing & services sector in North America is also fueling the demand for ERP software in the region. Moreover, the Asia Pacific is set to observe the fastest growth rate over the forecast period on the back of the rising number of SMEs in developing nations like China, India, and Indonesia.
- Based on deployment mode, on-premises ERP will likely grow at a strong pace followed by cloud ERP, as they bring new processing capabilities without making significant changes to the existing system.
- On the basis of business function, finance and accounting will continue to spearhead the market in the upcoming future. In the financial sector, ERP software helps manage various financial activities such as assets management, cash flow management, accounting, etc.
Competition Analysis: The global ERP software market is reigned by prominent players
The global ERP Software market observes intense competition as a result of a presence of a large number of established players. Furthermore, companies are innovating in ERP solutions by incorporating AI-enabled solutions such as interactive chatbots, intelligent process automation, and AI-infused financial planning for better yield. Top ERP vendors are also taking lead on AI technology in ERP.
Product innovations, launches, and partnerships are the identified industry trend in the global ERP software market. Significant consolidation is expected in the global market during the assessed period 2022-2028.
- In March 2022, Partners Group announced its acquisition of Forterro, a leading pan-European software services provider. Forterro has a portfolio of 11 software brands serving over 10000 customers.
- In April 2021, Unit4, one of the leaders in enterprise cloud applications, announced the general availability of ERPx, its flagship ERP designed for people-centric organizations and the mid-market, to expand its global footprint and provide its cost-cutting ERP tool to manufacturing companies.
Some of the prominent players that contribute significantly to the global ERP market include Microsoft Corporation, Oracle Corporation, Sage Group plc, Infor Inc., Deltek Vision, SYSPRO, Hewlett-Packard Development Company, L.P., Epicor Software Corporation, NetSuite Inc, SAP SE and Unit4 among others
RationalStat has segmented the global ERP software market on the basis of deployment mode, business function, end user, and region
- By Deployment Mode
- On-premise ERP
- Cloud-based ERP
- Hybrid ERP
- By Business Function
- Finance & Accounting
- Human Resource (HR)
- Supply Chain
- Customer Management
- Inventory Management
- Others (Manufacturing Module)
- By End User
- IT & Telecom
- Aerospace and Defense
- Others (Retail and Distribution)
- By Region
- North America
- Latin America
- Rest of Latin America
- Western Europe
- Rest of Western Europe
- Eastern Europe
- Rest of Eastern Europe
- Asia Pacific
- South Korea
- ASEAN (Indonesia, Vietnam, Malaysia, etc.)
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of the Middle East & Africa
- North America
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