ERP Software Market
ERP Software Market
The ERP Market was estimated around USD 40,116 million in 2019 and is expected to grow at a CAGR of 10.2% over the forecast period (2020-2027).
The factors driving the growth of ERP Market includes growing adoption of mobile and cloud-based application, rise in the volumes of data generated around the world, increasing use of EPR software by the small and medium sized companies and expansion of the manufacturing sector. As per the data available at Statista, the number of manufacturing companies in India were estimated around 440,578 in 2017 and the revenue generated from the manufacturing activities is expected to reach USD 1,010 billion by the end of 2022, expanding at a CAGR of 1.82% over the forecast (2022-2025). Moreover, growing adoption of advanced technologies such as Artificial Intelligence, Machine Learning, and Internet of Things (IoT) by major corporations and emerging need to enhance the operational efficiency in the business processes, are some of the additional factors supplementing the ERP Software Market share. In addition, the rising popularity of Software as A Service, increasing investments by leading players on research and development, growing disposable incomes and rapid urbanization, are further propelling the market growth.
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However, the growth of ERP Market is hindered due to high installation cost of Enterprise Resource Planning (ERP) software.
The leading players operating in the market are TOTVS S.A, Infor, Workday, Inc., Sage Group Plc, Microsoft, Oracle Corporation, SAP SE, SYSPRO, Epicor Software Corporation and IBM Corporation, among others.
Deployment Model: Segment Analysis
Based on Deployment Model, the Cloud segment is predicted to expand at a significant CAGR during the forecast period because the cloud-based deployment reduces the cost of infrastructure and allows businesses to store data over the internet.
Business Function: Segment Analysis
Based on Business Function, the Finance segment is projected to grow at a remarkable CASG over the forecast period. The software is increasingly used by companies to manage financial activities such as investments, accounting, and cash flow management, are some of the features responsible for the segment’s growth.
Regional: Segment Analysis
Based on Region, the North American region is anticipated to capture the largest market share during the forecast period. Presence of the leading players such as Microsoft, Oracle Corporation and IBM Corporation, technological advancements in ERP software, easy accessibility to ERP functions through smartphones and high disposable incomes, are some of the important factors augmenting the market growth.
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 Siz
- 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
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- North America
- United States of America
- Canada
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
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