ERP Software Market witnessed USD 40,116 Million in 2019, growing at a robust CAGR of 10.2% during forecast period.

Introduction of ERP Software Market Report

ERP, is also referred to as Enterprise Resource Planning, is a software that is used by the organizations to manage daily business activities such as project management, accounting, risk management & compliance, and others. This software can also be utilized to simplify and automate the activities of an individual in an organization or business and combines several different metrics & reports across several departments into the same environment. An ERP software also provides some degree of synchronized automation and reporting and streamlines the process of sales, finance, order processing, human resources, and other areas. It comprises of dashboards in which the users can look at the real-time data that is collected from across all business to measure the profitability and productivity.

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The factors that are propelling the growth of the global ERP software market include the increasing penetration of mobile and cloud applications which is leading to high adoption of ERP software as it helps in reducing the cost of maintaining & supporting the applications and helps in decreasing the IT support services as the support is offered by the data center. In addition to this, the rising implementation of ERP software among the small and medium-sized enterprises to enhance the efficiency & business insight and increase in the technological advancements in the software such as the implementation of artificial intelligence and IoT are some other factors fuelling the growth of the global ERP software market during the forecast period.

Various benefits associated with the use of ERP software such as it helps in reducing errors & duplication, streamline the operations, enhance the customer service, along with improvement in the financial consolidation, enhanced efficiency, and optimization of the supply chain, will attract a large number of end-users to opt for ERP software. Increasing penetration of IT technologies in developing economies such as India and China is leading to a change in consumer behavior, which will also lead to an adoption of ERP software to increase profitability and flexibility. This factor is further paving the way for ERP software in the market. The factor hindering the growth of the global ERP software market includes the high cost of installation of the software.

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Based on the deployment model, the Cloud segment is anticipated to increase at a higher CAGR during the forecast period owing to the high adoption of cloud-based ERP software as it helps in minimizing the cost of infrastructure and allows the business to store the data over the internet and helps in dealing with the problems associated with the data loss or data breaches by offering tools to restore the data.

Based on the business function, the Finance segment is expected to grow at a higher CAGR over the forecast period due to an increase in the implementation of finance modules across several enterprises as it enables the enterprises to speed up the financial process and provide expense management and auditable revenue management. In addition to this, several features of ERP finance module such as it enhances the productivity, provides real-time financial monitoring, financial transparency, minimize the human error, and integrates with other business systems such as CRM while providing the marketing budgets and sales numbers which also leads to the increase in the adoption of the ERP financial module.

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Based on the region, North America is anticipated to dominate the market during the forecast period owing to the increasing shift of businesses from on-premises to cloud ERP software, which is leading to high usage of ERP software. In addition to this, increasing technological advancements and the presence of several players offering ERP software also drives the growth of the market in this region.

Various notable players operating in the market include Microsoft, Oracle Corporation, SAP SE, IBM Corporation, TOTVS S.A, Infor, Workday, Inc., Sage Group Plc, SYSPRO, and Epicor Software Corporation, among others.

Key Developments: 

• • In 2019, Oracle Corporation integrated the artificial intelligence capabilities in Oracle Enterprise Resource Planning (ERP) Cloud and Oracle EPM Cloud. The extending artificial intelligence strategy enables the finance and operations teams to lead in the technology curve and hold a competitive advantage.
  • In 2019, Infor launched enhancements for four of its ERP systems that are Infor CloudSuite Automotive, Infor LN, Infor CloudSuite Aerospace & Defense, and Infor CloudSuite Industrial Enterprise. The enhancements are based on flexibility, speed, and agility to help the discrete manufacturers to align their business processes with the business objectives.

The global ERP software market has been segmented on the basis of deployment model, component, business function, enterprise size, industry, and region. Based on the deployment model, the market is segmented into cloud, on-premise, and hybrid. Based on the component, the market is segmented into software and services. Based on the business function, the market is segmented into the supply chain, human resource, finance, inventory management, customer management, manufacturing module, and others. Based on the enterprise size, the market is segmented into small & medium enterprises and large enterprises. Based on the industry, the market is segmented into manufacturing, BFSI, healthcare, government & utilities, retail & distribution, aerospace & defense, IT & telecom, construction, and others.

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Key questions answered in this research report:

• • At what pace is the global ERP software market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in the global ERP software market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global ERP software market?
  • Which component generated maximum revenues in 2019 and identify the most promising component during the forecast period?
  • What are the business functions of the ERP software market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Base Year	2019
Market Forecast Period	2020-2027
Market Revenues (2019)	USD 40,116 Million
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By Deployment Model, By Component, By Business Function, By Enterprise Size, By Industry, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	Microsoft, Oracle Corporation, SAP SE, IBM Corporation, TOTVS S.A, Infor, Workday, Inc., Sage Group Plc, SYSPRO, and Epicor Software Corporation, among others; a total of 10 companies covered
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global ERP Software Market by Deployment Model

• • Cloud
  • On-Premise
  • Hybrid

Global ERP Software Market by Component

• • Software
  • Services

Global ERP Software Market by Business Function

• • Supply Chain
  • Human Resource
  • Finance
  • Inventory Management
  • Customer Management
  • Manufacturing Module
  • Others

Global ERP Software Market by Enterprise Size

• • Small & Medium Enterprises
  • Large Enterprises

Global ERP Software Market by Industry

• • Manufacturing
  • BFSI
  • Healthcare
  • Government & Utilities
  • Retail & Distribution
  • Aerospace & Defense
  • IT & Telecom
  • Construction
  • Others

Global ERP Software Market by Region

• • North America ERP Software Market (Option 1: As a part of the free 25% customization)
    • North America Market by Deployment Model
    • North America Market by Component
    • North America Market by Business Function
    • North America Market by Enterprise Size
    • North America Market by Industry
    • US Market All-Up
    • Canada Market All-Up
  • Europe ERP Software Market (Option 2: As a part of the free 25% Customization)
    • Europe Market by Deployment Model
    • Europe Market by Component
    • Europe Market by Business Function
    • Europe Market by Enterprise Size
    • Europe Market by Industry
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up
  • Asia-Pacific ERP Software Market (Option 3: As a part of the free 25% Customization)
    • Asia-Pacific Market by Deployment Model
    • Asia-Pacific Market by Component
    • Asia-Pacific Market by Business Function
    • Asia-Pacific Market by Enterprise Size
    • Asia-Pacific Market by Industry
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up
  • RoW ERP Software Market (Option 4: As a part of the free 25% Customization)
    • RoW Market by Deployment Model
    • RoW Market by Component
    • RoW Market by Business Function
    • RoW Market by Enterprise Size
    • RoW Market by Industry
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Global ERP Software Leading Market Players (Option 5: As a part of the free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Microsoft
  • Oracle Corporation
  • SAP SE
  • IBM Corporation
  • TOTVS S.A
  • Infor
  • Workday, Inc.
  • Sage Group Plc
  • SYSPRO
  • Epicor Software Corporation