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ERP Software Market Share, Size, Growth, Trends Analysis & Industry Forecast Report, 2020-2027

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ERP Software Market Share, Size, Growth, Trends Analysis & Industry Forecast Report, 2020-2027

April 08
15:14 2021
The Global ERP Software Market is experiencing significant growth over the forecast period. This is attributed to the rising implementation of ERP software among small and medium-sized enterprises, expansion in the software’s technological advancements, reduction in the cost of maintaining and supporting the application, and the increasing penetration of mobile and cloud applications.

The factors contributing to the growth of the global ERP software market include the accelerating penetration of cloud and mobile applications, resulting in high ERP software adoption due to the reduction in cost offered to support and maintain the application and aid in decreasing the IT support services. Also, the surging implementation of ERP software by the small and medium-sized enterprises to improve the business insight & efficiency and the ongoing technological developments in the software, including the implementation of IoT and artificial intelligence will further boost the global ERP software market growth over the forecast period.

Several benefits related to the usage of ERP software like the reduction in duplication & error, improvement in customer services, simplification of operations, coupled with the optimization of the supply chain, enhancement in the financial consolidation, and emphasized efficiency, will attract enormous end-users to choose ERP software. The growing penetration of IT technologies in developing countries, including China and India, results in a change in consumer behavior, leading to an adoption of ERP software to augment profitability and flexibility. This factor is predicted to strengthen the ERP software market share. However, the factor restraining the growth of the global ERP software market is the high installation cost of the software.

Based on the deployment model, the cloud segment is projected to expand at a faster CAGR over the forecast period because of the adoption of cloud-based ERP software as it helps to minimize the infrastructural cost, permits the business to store the data over the internet and aids in dealing with the problems associated with the data loss or data breaches by providing tools to restore the data.

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On the basis of business function, the Finance segment is anticipated to increase at a higher CAGR during the forecast period owing to augment in the implementation of finance modules across various enterprises as it allows the enterprises to speed up the financing process and provide expense and auditable revenue management. Moreover, several features of the ERP finance module include improvement in productivity, provision of real-time financial monitoring, financial transparency, minimize the human error, and integrates with other business systems like CRM while helping with the marketing budgets and sales numbers also boosts the adoption of the ERP financial module.

Based on the regional coverage, North America is expected to lead the market over the forecast period attributed to the shift of businesses from on-premises to cloud ERP software, which further leads to high ERP software usage. Moreover, rising technological advancements and the presence of many players offering ERP software fuel the growth of the market.

Various notable players operating in the market include SYSPRO, Workday, Inc., IBM Corporation, TOTVS S.A, Infor, SAP SE, Sage Group Plcand Epicor Software Corporation, Microsoft, Oracle Corporation, among others.

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.

Know more about the Global ERP Software Market

 

ERP Software 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)
    • North America Market by Deployment Model
    • North America Market by Component
    • North America Market by Business Function
    • North America Market by Enterprise size
    • North America Market by Industry
    • United States ERP Software Market
    • Canada ERP Software Market

 

  • Europe ERP Software Market (Option 2: As a part of the free 25% customization)
    • Europe Market by Deployment Model
    • Europe Market by Component
    • Europe Market by Business Function
    • Europe Market by Enterprise Size
    • Europe Market by Industry
    • UK ERP Software Market
    • Germany ERP Software Market
    • France ERP Software Market
    • Spain ERP Software Market
    • Rest of Europe ERP Software Market

 

  • Asia-Pacific ERP Software Market (Option 3: As a part of the free 25% customization)
    • Asia-Pacific Market by Deployment Model
    • Asia-Pacific Market by Component
    • Asia-Pacific Market by Business Function
    • Asia-Pacific Market by Enterprise Size
    • Asia-Pacific Market by Industry
    • China ERP Software Market
    • India ERP Software Market
    • Japan ERP Software Market
    • Rest of APAC ERP Software Market

 

  • RoW ERP Software Market (Option 4: As a part of the free 25% customization)
    • RoW Market by Deployment Model
    • RoW Market by Component
    • RoW Market by Business Function
    • RoW Market by Enterprise Size
    • RoW Market by Industry
    • Brazil ERP Software Market
    • South Africa ERP Software Market
    • Saudi Arabia ERP Software Market
    • UAE ERP Software Market
    • Rest of world (remaining countries of the LAMEA region) ERP Software Market

 

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About GMI Research

GMI Research is a market research and consulting company that provides syndicated research reports, consulting services, and customized market research reports. Our reports are based on market intelligence studies to ensure relevant and fact-based research across numerous sectors, including healthcare, automotive, information technology & communication, FMCG, and other industries. GMI Research’s deep understanding related to the business environment helps us in generating objective strategic insights. Our research teams consisting of seasoned analysts and researchers have hands-on experience in various regions, including Asia-pacific, Europe, North America, and the Rest of the World. The market research report offers in-depth analysis, which contains refined forecasts, a bird’s eye view of the competitive landscape, factors impacting the market growth, and several other market insights to aid companies in making strategic decisions. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to help our clients to stay ahead of the curve.

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