ERP software market: by type of deployment (on-premises and cloud), by type of function (CRM, sales, accounting, other), by size of organization (SMB and large enterprises), by verticals (retail, manufacturing, banking institutes and Financial, Aerospace & Defense, and Others) Global Industry Sizing, Growth, Trend, Opportunity and Forecast (2021-2027)
The ERP Software Market report covers an in-depth analysis of market dynamics, business models, segmental/regional analysis, and respective market shares and strategies adopted by key market players operating globally . It involves in-depth analysis of factors influencing the global market and market statistics indicating market share/growth analysis by region and segment. The report study will offer one of the most comprehensive analyzes of the market, capturing all aspects of the ERP Software market.
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ERP Software Industry Outlook
The global ERP software market size was valued at USD 38.12 Billion in 2020 and is projected to witness a CAGR of 12.7% during the forecast period to reach USD 84.41 Billion by 2027. Enterprise Resources is software that enables organizations to manage and automate business processes. . It helps the organization to use a system of integrated applications to manage various back-office functions related to human resources, service and technology. ERP software integrates all aspects of an operation, including marketing, sales, product development, manufacturing, and product planning, into a single database. The growing number of automotive, consumer electronics, manufacturing, pharmaceutical and apparel industries are increasing the adoption of cloud-based ERP due to the focus on collecting consumer data to help in the decision-making process. of the ERP software market.
The growing demand for cloud-based ERP software is expected to drive the growth of the ERP software market. Cloud-based ERP solutions allow organizations to store their data on shared IT resources, helping organizations share data across divisions unlike traditional ERP solutions. Businesses can upload and access information on any gadget with an internet connection in real-time through cloud-based ERP, enabling better integration between departments. Major vendors, including SAP and Oracle, provide cloud-based ERP to provide storage recovery plans and data backup to manage core business functions such as CRM, HR, inventory management and orders and accounting. In addition, cloud-based ERP allows organizations to minimize the initial costs of IT infrastructure, such as easy installation, hardware and data servers, cost reduction and better data security, which further drive the growth of ERP Software in the coming years.
However, implementing ERP software requires huge capital; deployment is long to install and fully functional. It requires a skilled and experienced workforce to manage updated ERP software, security solutions, hardware and network equipment which has increased the expense. These factors could be the major restraining factors in the global ERP software market. Additionally, the COVID-19 pandemic has significantly impacted the growth of the ERP software market. While the market has seen a huge drop in sales and supply due to quarantines and business closures in the second quarter, insufficient parts supply is affecting global industry verticals for a longer duration.
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Impact of COVID-19 on ERP Software Market:
The prevalence of the COVID-19 pandemic has had a positive impact on the ERP software market owing to the regulations imposed on the lock and shutdown facilities of smartphone users. This increase is beneficial for advertising agencies as they will use this platform to present more ads to attract interested customers. However, consumers are now equally aware of real and fake advertisements as they have spent most of their time using smartphones, which gives them the proper knowledge about real and fake advertisements. Post-pandemic, global advertising production has increased significantly, which is expected to drive an additional need for ERP software for end users. Players are also investing in the advancement of native ads to take advantage of these ads globally.
The report outlines ERP software market study based on deployment type, function type, organization size, and industry vertical.
Based on deployment type, the ERP software market is segmented into
On the basis of function type, the ERP software market is segmented into
Based on organization size, the ERP software market is segmented into
Based on industry vertical, the ERP software market is segmented into
- Banking and financial institutes
- Aerospace and Defense
ERP Software Market: Regional Outlook
Geographically, the electric car market is segmented into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa (MEA). North America is expected to dominate the global ERP software market with the largest market share during the forecast period. The presence of a large number of cloud ERP software vendors in Canada and the United States, the penetration of new technologies, the developed economy, new emerging markets and the penetration of new companies are some of the factors that are accelerating the growth of the ERP software market in the region. Additionally, companies in North America are shifting from on-premise ERP to cloud-based ERP owing to low maintenance cost, and implementation costs are further driving the growth of the global ERP software market during of the forecast period.
After North America, Asia-Pacific is expected to grow with a considerable CAGR throughout the forecast period. The growth in this region is due to the ever-changing industries including banking and financial institutes, transportation and logistics and manufacturing, growing demand for sustainable ERP software among these industries, various key players in the region aim to develop and launch advanced ERPs. software, the presence of a large number of small and medium enterprises are implementing cloud ERP software to improve productivity and minimize business complexity. Additionally, the government is supporting IT infrastructure to boost the demand for ERP software in the region.
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ERP Software Market: Competitive Landscape –
The major ERP software manufacturers in the global market are SAP, Oracle Corporation, Microsoft Corporation, Infor, and IFS.
Other ERP software manufacturers include Sage Software Solution Pvt. Ltd., Workday, Inc., Epicor Software Corporation, SYSPRO, Deskera, Infor, Intacct Corporation and Plex System Inc.
- In 2018, Salesforce acquired MuleSoft for a valuation of $6.5 billion. This acquisition will help the organization integrate all of its cloud-based applications with MuleSoft’s SAAS integration platform.
- In 2019, SAP acquired Qualtrics, which will help the company grow its capabilities in the experience management category.
- In October 2019, SYSPRO partnered with the Clean Energy Smart Manufacturing Innovation Institutes (CESMII) to help US manufacturing companies embrace smart manufacturing technologies. This partnership will help raise awareness of the CESMII Smart Manufacturing platform to help manufacturers stay competitive in the manufacturing industry.
The ERP Software Market report covers an in-depth analysis of market dynamics, business models, segmental/regional analysis, and respective market shares and strategies adopted by key market players operating globally. It involves in-depth analysis of factors influencing the global market and market statistics indicating market share/growth analysis by region and segment. The report study will feature one of the most comprehensive market analyses, capturing all aspects of the ERP Software market.
The ERP Software Market report provides an in-depth analysis of macroeconomic factors and market attractiveness of each segment. The report will include an in-depth qualitative and quantitative assessment of the industry/regional outlook with the presence of market players in the respective segment and region/country. The information concluded in the report includes the entries.
The ERP Software Market report covers comprehensive analysis on:
- Market Segmentation and Regional Analysis
- 10 year market size
- Price analysis
- Supply and demand analysis
- Product life cycle analysis
- Porter’s Five Forces and Value Chain Analysis
- Analysis of developed and emerging economies
- PEST analysis
- Factor analysis of the market and forecasts
- Opportunities, risks and market trends
- Conclusion and recommendation
- Regulatory landscape
- Patent Analysis
- Competition Landscape
- More than 15 company profiles
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Regional Analysis of ERP Software Market Includes:
- North America (United States, Canada, Mexico)
- South America (Brazil, Argentina, Colombia, Peru, Rest of Latin America)
- Europe (Germany, Italy, France, United Kingdom, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, Netherlands, Norway, Sweden, Denmark, Rest of Europe)
- Asia-Pacific (China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, Philippines, Singapore, Australia and New Zealand, Rest of Asia-Pacific)
- The Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa, North Africa, Rest of MEA
ERP Software Market: Target Audience
- ERP software developer
- ERP software companies
- Research institutions and universities
- Trade publications and magazines
- Government authorities, associations and organizations