What is the Global market size of the Enterprise Resource Planning (ERP) Software Market?

Global Enterprise Resource Planning (ERP) Software Market size was valued at USD 45.82 billion in 2021 and is poised to grow from USD 49.28 billion in 2022 to USD 90.63 billion by 2030, growing at a CAGR of 9.1% in the forecast period (2023-2030).

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 Insights

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).

The development is attributed to elements like the expanding demand for data-driven decision-making, the rising usage of mobile and cloud apps, and the growing requirement for operational efficiency and transparency in business processes. Through an enterprise resource planning software inventory costs can be reduced by 25-30% and raw material costs by about 15% when ERP software is implemented in businesses. The program guarantees a seamless exchange of information across functional boundaries, improving efficiency and decision-making. Over the projected period, growth in the number of SMEs in developing nations like China, India, and Brazil is expected to increase product demand.
It is expected that the uptake of IT technology in these economies will alter customer behaviour and increase the use of ERP software rather than manual processes.

The availability of mobile device integration and low infrastructure costs are expected to drive up demand for cloud services. Businesses are prepared to spend money on cloud-connected mobile applications that make it easier to synchronize, update, and manage documents. Since the COVID-19 pandemic, there has been a growth in demand for cloud-based ERP solutions, particularly from small-and medium-sized firms which is expected to present a number of opportunities for market participants.

The market for ERP software is expanding as a result of a boom in the adoption of cloud and mobile applications. Companies can now implement a single platform that oversees all operations thanks to the growth in business apps and the volume of data generated by various supply chains. The enterprise resource planning software market has grown as a result of rising automation and technological deployments in the supply chain management process, which has also increased the demand for ERP systems.

US Enterprise Resource Planning (ERP) Software Market is poised to grow at a sustainable CAGR for the next forecast year.

Global Enterprise Resource Planning (ERP) Software Market Report Snapshots

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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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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

Global Enterprise Resource Planning (ERP) Software Market Insights

Global Enterprise Resource Planning (ERP) Software Market Report Snapshots

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