ERP Software Market

Analysis from GMI Research finds that the ERP Software Market earned revenues of USD 49.0 billion in 2022 and forecast to touch USD 102.0 billion in 2030 will grow at a CAGR of 9.6% from 2023-2030 attributed to emerging need for transparency in business processes and increasing adoption of mobile and cloud applications.

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Major ERP Software Market Drivers

ERP Market is primarily driven by rising need for transparency in business processes, growing demand for data driven decisions, changing consumer behavior and increasing digitalization. Moreover, growing penetration of IT technologies and increasing number of small and medium enterprises in developing countries, are some of the additional factors supplementing the ERP software market size. For instance, the number of start-ups across India have significantly increased and reached to 72,993 as on 30th June 2022. Organizations are finding ways to reduce their operational cost and Enterprise Resource Planning (ERP) is emerged as one of the most lucrative options, because it can reduce inventory cost by 25% to 30% and raw material cost by 15%. Increasing automation in supply chain management process coupled with rising adoption of cloud-based solutions by organizations, are increasing the growth opportunities for Global ERP Software Market.

Enterprises are increasing their spending on cloud-connected mobile applications because it allows synchronization provides control of documents to individual users, which will positively impact the ERP market in the upcoming years. However, increasing availability of open-source applications and high maintenance costs are restraining the growth of ERP Software Market.

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Cloud segment is projected to dominate the market

Companies worldwide are increasingly using cloud-based ERP software because it reduces third-party dependencies and operational cost, facilitates resource planning optimization activities, enhances collaboration, and provides robust security to resources. Additionally, low infrastructure cost of cloud-based ERP Software coupled with increasing adoption of connected devices by organizations to manage business operations, are driving the Cloud ERP Market. While organizations are adopting on-premise models because it offers more continuous control and more data security.

Based on Business Function, Finance segment is forecast to hold the largest market share attributed to rising demand for business process efficiency and transparency.

Companies working in the finance sector are using ERP software to manage different financial activities such as cash flow management, accounting, and investments, which are propelling the segment’s growth. Additionally, increasing adoption of advanced technologies by banks such as machine learning and blockchain to enhance their business operational efficiency, is further propelling the accelerating the growth. ERP software is gaining popularity in the manufacturing industry because it helps enterprises to monitor daily operations, provides tracking day-to-day performances, and eases production scheduling.

Based on Enterprise Size, Large Enterprises segment is forecast to dominate the market

Large enterprise software companies are increasingly adopting ERP software to maintain their complex processes such as procurement, order fulfilment and inventory management, which is propelling the segment’s growth. In addition, increasing spending by large enterprises on procuring modern technology and software which facilitates the adoption of cloud-based ERP software, is further driving the segment’s growth. While medium-sized companies are adopting cloud-based ERP software because it helps them to enhance operational efficiency, minimize production cost and meet compliances set by governments.

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North America is estimated to dominate the market

North America ERP software market is driven by increasing investments by major vendors on software, presence of the leading players such as Microsoft, Oracle Corporation, and IBM Corporation. Furthermore, increasing focus of enterprises across United States and Canada on streamlining their business processes and, application of ERP software with mobile applications, are propelling the market growth in North American region.

ERP software are gaining popularity in Asia-Pacific region attributed to surge in the number of start-ups across India and China and Japan, growing demand for cloud based solutions and government regulations supporting IT infrastructure.

Top 10 ERP Companies

Major ERP companies operating in the market are 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 October 2022, Oracle launched its new B2B commerce services, which will automate end-to-end business-to-business (B2B) transactions. Oracle B2B commerce services will help companies to reduce business expenses, enhancing customer’s experience and launching new offering.
  • In May 2022, IBM announced its plans to migrate SAP S/4HANA, SAP’s next-generation ERP software, which can perform work in over 120 countries, 1,000 legal entities and different businesses of IBM supporting hardware, software, consulting, and finance.
  • In August 2021, Sage Software Solutions launched Sage X3 R 2021 in India. Sage X3 is cost-effective, end-to-end ERP solution which can bring different functions of business under one enterprise-grade business management solution.
  • In March 2019, Oracle announced extension of its Artificial Intelligence capabilities within Oracle Enterprise Performance Management (EPM) Cloud and Oracle Enterprise Resource Planning (ERP) Cloud. The extending artificial intelligence strategy will enable the finance and operations teams to lead in the technology curve and hold a competitive advantage.
  • In January 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.

Segments Covered in the Report:

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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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