ERP Software Market generated a revenue of USD 40,116 Million in 2019 and is forecast to witness a healthy CAGR of 10.2% during forecast period (2020-2027), owing to the emerging need for a cost-effective solution among organizations to conduct business operations smoothly and improve operational efficiency.

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Key Drivers and Emerging Trends

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 share during the forecast period.

Increasing adoption of ERP software among several end-users owing to the remarkable benefits of software which include their ability to minimize errors and duplication, improve customer services, efficiency, and optimize the supply chain, stands to be one of the major factors driving the ERP software market. Moreover, rising automation and increasing technological deployments in the supply management process will further propel the global ERP Software Market growth. Moreover, the growing deployment of cloud and mobile applications, rising demand for data-driven decision making, and increasing application of ERP solution across the small and medium organizations are some other factors fueling the ERP software market. In addition, increasing implementation of IoT and Artificial Intelligence couple with the penetration of IT technologies in the emerging nations like China and India has bolstered the adoption of ERP software, driving the ERP Software Market Share.

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Deployment Model Segment Analysis

Cloud deployment model is anticipated to hold a larger share over the forecast period. The growth is attributed to the increasing adoption of cloud-based ERP software to reduce the infrastructural cost and deal with the issues associated with data losses. In addition, the cloud-based deployment of ERP software facilitates company in optimizing resource planning activities, accessibility, and scalability, which will further augment the market growth. Besides, with the increasing adoption of connected devices to effectively handle business operations, the inclination towards cloud-based ERP solutions among various businesses has increased, fueling the market growth. For example, as per the report by Selecthub in 2020, nearly 62.7% of companies opted for cloud-based deployment models over on-premises deployment. Further, leading players including Oracle and SAP, offer ERP solutions based on a cloud platform to provide data backup and storage recovery plans to help businesses manage primary business functions such as inventory and order management, accounting, human resources, and customer relationship management (CRM).
Additionally, cloud allows businesses to decrease the upfront costs for computing infrastructure like hardware and data servers and offers businesses the flexibility required them to simplify their operations and raise productivity.

Business Function Segment Analysis

Finance function is predicted to hold a larger share over the forecast period. The growth is primarily attributed to the increasing use of ERP software enterprises as it allows the organizations to expedite the financial process and offer expendable management. In addition, the increasing adoption of ERP Finance module to improve the yield, reduce human error, offer real time financial administration, and enhance the financial transparency, will strengthen the segment’s size.

Enterprise Size Segment Analysis

The large enterprises segment is expected to dominate the ERP Software market over the upcoming years, owing to the increasing investment by large organizations to address the challenges of supervising overall performance. The emerging need among large organizations to align complicated processes like procurement, shipping, order completion, and production planning is another factor fueling the segment growth. Besides, with the expansion of SMEs, the need for a proper database management has increased, which is anticipated to pave the way for ERP software market among SMEs. Other factors including the easy availability of cloud-based ERP, a decrease in the production cost, and on-time product delivery are predicted to strengthen the market growth. Additionally, the strict government norms have encouraged several industries to utilize ERP software have improved the complications operations in several industries.

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Regional – Segment Analysis

North America is estimated to lead the ERP software market over the upcoming years, owing to the ongoing technological innovations and the existence of leading players including Infror, Microsoft, and Oracle. The growing demand for ERP software by small & medium-sized companies and intensified investments by ERP vendors to develop software are projected to strengthen the regional growth. Moreover, the rising drift of businesses in North America from on-premises to cloud-based ERP, owing to their reduced maintenance and implementation costs are predicted to boost the regional expansion.

Asia Pacific is predicted to witness a higher CAGR over the forecast period, because of the expansion of BFSI, transportation, and manufacturing industries. The strategic government norms to support IT infrastructure and increasing implementation of cloud-based solutions to improve the productivity will further expand the regional growth.

Top Market Players

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 2021 – Unit4, declared the accessibility of ERPx, for customer-driven organizations and mid-market to expand its global footprints and strengthen the production companies with effective ERP tool for cost cutting purposes.
  • In 2021 – Epicor introduced its incorporated the flagship production ERP tool in its product kinetic. The newly introduced product will modernize and future-proof platform with UX framework update and a new feature named as updated Epicor Commerce Connect.
  • 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)
    • By Deployment Model
    • By Component
    • By Business Function
    • By Enterprise Size
    • By Industry
    • US Market All-Up
    • Canada Market All-Up
  • Europe ERP Software Market (Option 2: As a part of the free 25% Customization)
    • By Deployment Model
    • By Component
    • By Business Function
    • By Enterprise Size
    • 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)
    • By Deployment Model
    • By Component
    • By Business Function
    • By Enterprise Size
    • 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)
    • By Deployment Model
    • By Component
    • By Business Function
    • By Enterprise Size
    • 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