About ERP Software
Enterprise resource planning (ERP) software is a software which permits organizations to manage their business processes. The function of enterprise resource planning has transitioned from back office activities to the addition of business processes. ERP is the method of using people, hardware, as well as software resourcefully to increase the revenue & the productivity of the company. Several departments of the company including HR, Manufacturing Customer relations, and finance together make the ERP software systems. Increasing demand from SMEs is likely to boost the global ERP software market growth over the coming years.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
High Growth Market | Asia-Pacific |
Unit | Value (USD Billion) |
CAGR | 10.34% |
The market is expected to grow with rising demand. Several companies are operating in the market to provide different positioning sensors with unique features. The market is highly fragmented with the presence of several market players. They are gaining attention owing to their innovative and novel portfolio. Analyst at AMA Research estimates that German, United Kingdom, Chinese, and United State Players will contribute the maximum growth to Global ERP Software market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
SAP SE (Germany), Oracle Corporation (United States), The Sage Group plc (United Kingdom), Infor (United States), Microsoft Corporation (United States), Epicor Software Corporation (United States), Kronos Incorporated (United States), Kingdee International Software Group Limited (China), International Business Machines Corporation (United States) and Unit4 (Netherlands) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are TOTVS S.A. (Brazil), Digiwin Software Co., Ltd. (China) and Ramco Systems Limited (India).
Segmentation Overview
AMA Research has segmented the market of Global ERP Software market by , Application (Telecom, Aerospace & Defense, Government Utilities, Banking, Financial services and Insurance, Healthcare, Retail and Others) and Region.
On the basis of geography, the market of ERP Software has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2023. Europe, on the other hand, stood as the second largest market due to the presence of key companies in the region and high technological advancement. If we see Market by Deployment Type, the sub-segment i.e. On-Premise will boost the ERP Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Function type, the sub-segment i.e. Human Resource (HR) will boost the ERP Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End User, the sub-segment i.e. Large Enterprises will boost the ERP Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Growth Drivers:
Necessity for operational efficiency and transparency in business processes, Growing demand of ERP from SMEs and Acceptance of ClOud and mobile applications
Challenges:
Lack of proper planning can lead to scope creep, ballooning costs, and systems that don't fully address core priorities.
Restraints:
High cost of implementation of ERP Software and Open source applications
Opportunities:
Untapped markets such as Emerging nations and Rapidly changing business model
Market Leaders and their expansionary development strategies
In July 2022, Forterro, a leading provider of software solutions to more than 10,000 small and midsized industrial companies, has acquired Wise Software (OrderWise), a provider of ERP software solutions with retail, wholesale, ecommerce, and distribution requirements.
In June 2023, 10X ERP, a new software company, has launched of their cloud-based ERP software, specifically designed to meet the needs of small to medium-sized industrial distribution businesses. Its core capabilities encompass a wide range of features, including sales and purchase order entry, inventory management, customer and vendor relationship management, real-time dashboards, a custom shipping integrator, QC management tools, and a robust, fully integrated accounting system that provides real-time data.
Analyst View
Around the globe, businesses will need to rethink their staffing strategy over the next five years owing to the continuous updates of cloud ERP. The benefits of cloud-based ERP are numerous & often deliver the most help to small businesses. Cloud-based solutions make it so small businesses don’t have to keep their own systems, extremely reducing the need for in-house IT. This makes it possible for small companies with just one or two IT employees to take advantage of an ERP system they otherwise wouldn’t be able to afford to maintain.
Key Target Audience
ERP Software providers, SMEs, Large Enterprises, Research organizations and consulting companies, Industries, Government bodies such as regulating authorities and policy makers, Industry associations and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.