Global Enterprise Resource Planning (ERP) Software Market

Global Enterprise Resource Planning (ERP) Software Market Size, Share, Growth Analysis, By Deployment Type(On-Premises, Cloud), By Function(HR, Supply Chain), By Enterprise Size(Large Enterprises, Medium Enterprises), By Vertical(Manufacturing & Services, BFSI) - Industry Forecast 2024-2031

Report ID: SQMIG45F2120 | Region: Global | Published Date: February, 2024
Pages: 165 | Tables: 121 | Figures: 77

Global Enterprise Resource Planning (ERP) Software Market Regional Insights

Due to the presence of key providers like Oracle, Microsoft, Infor, and Epicor in the area, North America accounted for the biggest market share. Advanced technologies including cloud computing, IoT, Big Data, and business intelligence are more widely used in North America, which further contributes to the expansion of the regional market. Additionally, increased ERP solution adoption across business verticals is boosting the market in North America.

The growing demand for company functionalities to be automated using digital techniques is driving the market expansion in North America. ERP solutions are being implemented by businesses in the US and Canada to improve internal business efficiency and optimize business processes. For instance, Loblaw Companies Limited, Canada's market leader in food and pharmacy, uses SAP technologies to enhance operational efficiency.
 
During the projection period, Asia Pacific is expected to rise with a spectacular CAGR. Manufacturing, BFSI, transportation, and logistics are just a few of the industry verticals that are constantly changing and driving this region's growth. Several important suppliers in the area are concentrating on creating and presenting cutting-edge ERP systems in order to meet the growing need for sustainable ERP solutions among various verticals. 

To increase efficiency and simplify operations, many small and medium-sized enterprises in the area are embracing cloud-based solutions. In addition, it is expected that government legislation supporting IT infrastructure will accelerate market expansion in the area.

Rising technological improvements and the expansion of the local manufacturing sector are the primary drivers of market growth in Europe. A significant portion of small and medium-sized firms, particularly in Germany, Italy, and France are using hosted ERP systems to manage their business operations more effectively which is another factor driving growth in the sector.

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FAQs

Enterprise Resource Planning (ERP) Software Market size was valued at USD 45.82 billion in 2019 and is poised to grow from USD 49.28 billion in 2023 to USD 90.63 billion by 2031, growing at a CAGR of 9.1% in the forecast period (2024-2031).

Most companies are actively investing in R&D activities to develop innovative products that help the company to improve its market share and generate more revenue. On the other hand, Unit 4 Company is planning to increase its market revenue by acquiring small market players. In its Unit 4 partner program, Unit 4 collaborated with Enbridge Consulting. With this alliance, the businesses hope to provide SaaS-based ERP systems for small and medium-sized businesses while also gaining access to the services and technology business experience that other businesses provide. 'Acumatica', 'Aptean', 'Deltek', 'Epicor Software Corporation', 'IFS AB', 'Infor', 'Intuit Inc.', 'Microsoft Corporation', 'NetSuite Inc.', 'Oracle Corporation', 'QAD Inc.', 'Ramco Systems', 'Sage Group', 'SAP SE', 'SYSPRO', 'Technology One Limited', 'Unit4', 'Workday, Inc.', 'Xledger', 'Zoho Corporation'

Global organizations have been compelled to adopt a variety of business models due to the increasing need for operational efficiency and transparency in corporate processes. Enterprise resource planning (ERP) system complexity has decreased due to advances in technology, and third-party apps can now more efficiently assist corporate procedures. 

Robust Adoption of Cloud-Based ERP Solutions: The market is expected to increase as a result of the rising demand for cloud-based solutions. Enterprises can save their data on shared computing resources thanks to cloud-based solutions. Contrary to traditional software, cloud-based solutions assist businesses in sharing information between divisions. 

Due to the presence of key providers like Oracle, Microsoft, Infor, and Epicor in the area, North America accounted for the biggest market share. Advanced technologies including cloud computing, IoT, Big Data, and business intelligence are more widely used in North America, which further contributes to the expansion of the regional market. Additionally, increased ERP solution adoption across business verticals is boosting the market in North America.

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