The global ERP software market was valued at USD 36 billion in 2019 and is estimated to reach USD 79 billion by 2026, expanding at a CAGR of around 10% during the forecast period, 2020–2026. Increasing adoption of ERP software to improve transparency and operational efficiency in business process are the major factor contributing to the market growth. Factors such as increasing demand for decision making driven by data is fueling the growth of the market.
ERP stands for enterprise resource planning and is a business process management software which allows different aspects of businesses to be integrated into one database, user interface, and applications. Decision making, transparency, and increased productivity are some of the important functions the ERP software enables the organizations. It enables organizations to automate and manage their businesses. ERP software is mainly used in inventory control, order management, and accounting.
Market Trends, Drivers, Restraints, and Opportunities:
- Adoption of ERP software to increase operational efficiency is the major factor contributing to the growth of the market.
- Increasing adoption of cloud-based deployment model id fuelling the growth of the market.
- Increased level of transparency provided by the ERP software is expected to contribute to the growth of the market.
- Enhanced productivity and decrease in expenses are some factors driving the growth of the market.
- Growing demand from small and medium sized enterprises and advancements made in ERP software may influence the growth of the market during the forecast period.
- High cost related to ERP software may hamper the growth of the market.
- Availability of various open source applications may act as a restrain to market growth during the forecast period.
Major companies in the global ERP software market include SAP, Deskera, Oracle, SYSPRO, Sage Software Solutions, Infor, Epicor Software Corporation, IFS, Microsoft Corporation, Workday, and IBM Corporation. The global ERP software market is highly intense and competitors use strategies such as collaborations, ventures, partnerships, acquisitions, and agreements to gain new market share. In order to increase their offerings and operations to target the customers in a better way the companies are aiming at new product launches and product advancements.
The global ERP software market has been segmented on the basis of
- Supply Chain
- Manufacturing Modules
- Inventory Management
- Human Resource
- Customer Management
- Large Enterprises
- Medium Enterprises
- Small Enterprises
- Telecom & IT
- Governance & Utilities
- Aerospace & Defense
- Asia Pacific
- North America
- Middle East & Africa
- Latin America
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Table of Contents
- Executive Summary
- Assumptions and Acronyms Used
- Research Methodology
- ERP Software Market Overview
- Global ERP Software Market Analysis and Forecast by Type
- Global ERP Software Market Analysis and Forecast by Application
- Global ERP Software Market Analysis and Forecast by Sales Channel
- Global ERP Software Market Analysis and Forecast by Region
- North ERP Software Market Analysis and Forecast
- Latin ERP Software Market Analysis and Forecast
- Europe ERP Software Market Analysis and Forecast
- Asia Pacific ERP Software Market Analysis and Forecast
- Middle East & Africa ERP Software Market Analysis and Forecast
- Competition Landscape
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