AP NEWS
ADVERTISEMENT
Press release content from Business Wire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Business Wire
Press release content from Business Wire. The AP news staff was not involved in its creation.

ERP Software Market by Component, Deployment, Business Function, Industry Vertical, & End User - Global Opportunity Analysis and Industry Forecast, 2020 - 2030 - ResearchAndMarkets.com

January 11, 2021 GMT

DUBLIN--(BUSINESS WIRE)--Jan 11, 2021--

The “ERP Software Market by Component, by Deployment, by Business Function, by Industry Vertical, by End User - Global Opportunity Analysis and Industry Forecast, 2020 - 2030” report has been added to ResearchAndMarkets.com’s offering.

ADVERTISEMENT

The Global ERP Software Market size was valued at USD 37.53 billion in 2019 and is predicted to reach USD 68.34 billion by 2030 with a CAGR of 5.6% from 2020-2030.

Enterprise Resource Planning (ERP) software integrates and automates the entire business ecosystem, by providing quality business management, enhanced traceability, increased production capacity, and greater tax support.

ERP software proficiently handles Human Resource (HR) management, inventory management, customer management, product planning, manufacturing, sales, and marketing. ERP software assists in monitoring the entire supply chain from a single user interface, with reduced errors and higher operational efficiency.

Market Dynamics and Trends

The global ERP software market is proliferating due to growing demand from manufacturing industry, small & medium scale enterprises, and corporate sector. Moreover, increasing demand for Human Resource module, is projected to create ample opportunities for the growth of ERP software market.

Furthermore, factors such as increasing penetration of AI, API, IoT, automation, and robotics technologies, growing preferences to digitize entire business ecosystem, and upsurge in cloud computing, are anticipated to supplement the growth of ERP software market in coming future.

However, availability of open source applications and high maintenance cost are expected to negatively impact the growth of ERP software market.

Moreover, emergence of large enterprises and proliferating BFSI sector raises the demand for efficient ERP solutions, thereby propelling the growth of ERP software market throughout the forecast period.

Geographical Analysis

North America dominated the global ERP software market in the past and is expected to maintain this trend throughout the forecast period, owing to presence of ERP software traders in large numbers. Moreover, factors such as higher adoption of cloud computing for business orientation, higher economic standards, and increased penetration of new markets, are projected to propel the growth of ERP software market throughout the forecast period.

ADVERTISEMENT

Asia Pacific is expected to witness a substantial market growth accounting for the highest CAGR values in the global ERP software market, throughout the forecast period. This is attributed to presence of emerging economies especially India and China, evolution of small business enterprises, and growing awareness regarding the benefits offered by ERP software in managing the overall business ecosystem.

Competitive Landscape

The ERP software market is highly competitive and consists of various market players. Some of the major market players include Oracle Corporation, SAP SE, Sage Software Solutions Pvt. Ltd., Infor, Workday, Inc., Epicor Software Corporation, Microsoft Corporation, SYSPRO, Deskera, and IFS among others.

The key players are employing strategies such as product launches, technical collaboration, and acquisition in-order to gain stronger position in the ERP software market.

For instance, in September 2019, Oracle Corporation, one of the major players in the ERP software market, announced the availability of Oracle Analytics, a Fusion ERP product. This is the first-ever application umbrella service, delivered under Oracle Analytics Cloud, that consolidates more than 18 Oracle BI and analytics products under a single brand value.

In April 2020, SYSPRO, the pioneer in industrial-built ERP software, announced its latest ERP product with enhanced features, that enables the manufacturers and distributors to securely integrate and automate the entire business ecosystem.

In June 2020, Infor, a leading business cloud software specialized industry in the ERP software market, announced that De Menken Keuken has chosen the Infor M3 ERP solution, to enhance its operational efficacy, assist in providing business continuity, and support its business growth. Along with this, Infor M3 ERP solution promises to enhance the quality management, increase tracing capabilities, and ensure quality business management of the entire manufacturing, warehousing, distribution, and supply chain.

Key Market Segments:

Global ERP Software market - By Component

  • Software
  • Service

Global ERP Software market - By Deployment

  • On-premise
  • Hybrid
  • Cloud

Global ERP Software market - By Business Function

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

Global ERP Software market - By Industry Vertical

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

Global ERP Software market - By End User

  • Large Enterprises
  • Medium Enterprises
  • Small Enterprises

Global ERP Software market -By Geography

  • North America
  • U.S.
  • Canada
  • Mexico
  • Europe
  • UK
  • Germany
  • France
  • Italy
  • Rest of Europe
  • Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
  • RoW
  • Latin America
  • Middle East
  • Africa

Company Profiles

  • Oracle Corporation
  • SAP SE
  • Sage Software Solutions Pvt. Ltd.
  • Infor
  • Workday, Inc.
  • Epicor Software Corporation
  • Microsoft Corporation
  • SYSPRO
  • Deskera
  • IFS

For more information about this report visit https://www.researchandmarkets.com/r/nrf1nb

View source version on businesswire.com:https://www.businesswire.com/news/home/20210111005867/en/

CONTACT: ResearchAndMarkets.com

Laura Wood, Senior Press Manager

press@researchandmarkets.com

For E.S.T Office Hours Call 1-917-300-0470

For U.S./CAN Toll Free Call 1-800-526-8630

For GMT Office Hours Call +353-1-416-8900

KEYWORD:

INDUSTRY KEYWORD: TECHNOLOGY SOFTWARE

SOURCE: Research and Markets

Copyright Business Wire 2021.

PUB: 01/11/2021 12:20 PM/DISC: 01/11/2021 12:20 PM

http://www.businesswire.com/news/home/20210111005867/en