The report, titled “ERP Software Market” assesses the market in both regions by analyzing the deployment method business function, deployment mode, end-user, and location. The report is comprehensive and provides comprehensive historical and forecast market size, along with trend analysis. The report focuses on the importance of the market share, an overview of the competition, and strategic imperatives. It also provides sales revenue per year, expansion avenues, and a competitive assessment of the players that are targeted in the ERP market study of software.
Market overview and dynamics: operational Efficacy of ERP software will increase in the forecast time
It is estimated that the ERP software market is anticipated to expand at a rate of about 9% over the period 2022-2028. The increasing adoption of cloud services due to a shift of consumers from offline to online, particularly towards mobile devices such as laptops and smartphones and the growing demand for ERP software that improves the efficiency of operations is helping the worldwide ERP industry to expand dramatically.
The global ERP software market is predicted to witness significant growth over the coming years due to the growing demand for decision-making based on data and the increasing use of cloud and mobile applications as well as the increasing need for transparency and efficiency within business operations. Furthermore, the usage of cloud-based services has been increasing due to the lower infrastructure costs and their ability to be integrated into mobile phones. Additionally, in the context of the COVID-19 epidemic, the demand for ERP applications that are cloud-based has increased dramatically and has further increased the growth of the market.
North America is leading the global ERP software market due to the wide acceptance of ERP solutions by SMEs as well as large companies, along with the existence of well-known ERP solutions suppliers within the region. The expanding manufacturing and services industry in North America is also fueling the demand for ERP software within the region. Additionally, Asia Pacific is set to see the fastest growth during the forecast time due to the increasing numbers of SMEs in developing countries like China, India, and Indonesia.
Segmental Analysis
- Based on the deployment mode, on-premises ERP could expand at a rapid rate ahead of cloud ERP because they provide new capabilities to process data without making major changes to the current system.
- Based on business functions, the accounting and finance functions will continue to dominate this market in the near future. In the field of finance, ERP software helps manage different financial tasks like the management of assets and cash flow management accounting, and more.Competition Analysis: The global ERP software market is reigned by prominent playersThe 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
- Government
- Healthcare
- BFSI
- Manufacturing
- Aerospace and Defense
- Government
- Construction
- Others (Retail and Distribution)
- By Region
- North America
- US
- Canada
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Western Europe
- Germany
- UK
- France
- Spain
- Italy
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe
- Russia
- Poland
- Rest of Eastern Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- ASEAN (Indonesia, Vietnam, Malaysia, etc.)
- Rest of Asia Pacific
- Middle East & Africa
- GCC
- South Africa
- Turkey
- Rest of the Middle East & Africa
- North America
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