The global ERP software market generated a revenue of USD 38,228.3 million in 2019 and is expected to reach a valuation of USD 66,389.7 million by 2026, growing at an 8.2% CAGR. In this report, Market Research Future (MRFR) includes the segmentation and dynamics of the market to offer a better glimpse of the market in the coming years.
The ERP software market consists of major segments, including deployment, function, vertical, organization size, and region.
The increased adoption of ERP software by numerous enterprises to improve operational threshold, productivity, and transparency can support the expansion of ERP software market through the assessment period. The cloud-based deployment model utility is increasing across different sectors, thus improving the deployment of ERP software. ERP software is providing a different base to remodel business, which is likely to prompt the expansion of the market. On the downside, the easy availability of open source platforms can restrain the market expansion.
The existence of numerous growth prospects and rise in the cloud ERP software adoption can prompt flexibility of businesses. This is expected to encourage the expansion of the ERP software market. The growing efficacy of ERP software to enhance resource management and improve integration potential of different organizations add leverage to the expansion of the ERP software market. The rise in the need to implementation ERP software to rise operational ability of an organization can add impetus to the market growth.
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The global ERP software market has been segmented based on deployment, function, vertical, and region.
By deployment, the cloud segment accounted for the larger market share of 50.4% in 2019, with a market value of USD 19,267.4 million; it is expected to register a 10.9% CAGR during the study period. The on-premises segment in 2019 was valued at USD 18,960.9 million; it is projected to register the higher CAGR of 5.0%.
By function, the supply chain & product management segment accounted for the largest market share of 33.4% in 2019, with a market value of USD 12,757.0 million; it is projected to grow at 8.2% CAGR. The sales and marketing segment was the second-largest market in 2019, valued at USD 10,280.9 million; it is projected to exhibit a CAGR of 7.8%. However, the accounting and finance segment is expected to register the highest CAGR of 9.7%.
By vertical, the manufacturing segment accounted for the largest market share of 22.4% in 2019, with a market value of USD 8,564.3 million; it is expected to register an 8.7% CAGR during the study period. The others segment was the second-largest market in 2019, valued at USD 6,276.6 million; it is projected to exhibit a CAGR of 8.9%. However, the aerospace & defense segment is expected to register the highest CAGR of 9.3%.
North America ERP software market can register substantial expansion in the review period. The regional market is poised to attain a high annual income across the assessment period. In North America, the ERP software market is expected to secure a large share of the world market in the forecast period. The US, followed by the rest of North America, the ERP software market can surge at a high pace as well-established ERP software traders dwell in the region. Microsoft Corporation, Epicor, QAD, and Infor are some notable players that can cause the expansion of the market in this region. In Europe, the sudden fall in native applications utility and the rise in the desirability for cloud based applications can support the ERP software market in the region. The lack of technical expertise in the Middle East Asia can cause steady growth of the market.
Infor (U.S.), Consona Corporation (U.S.), FIS Global (U.S.), SAP SE (Germany), Microsoft Corporation (U.S.), Sage (U.K), Oracle (U.S.), Fujitsu (Japan), Epicor Software Corporation (U.S.), NetSuite Inc. (U.S.), QAD (U.S.), and Syspro Infotech Pvt Limited (South Africa) are some notable players operating in the ERP software market that are listed by MRFR. MRFR study reveals that these marketers are likely to transform the competitive landscape of the world ERP software market. Detailed analysis of the ERP software market is inked in full cooked MRFR report by our proficient analysts those deployed modern market research methodologies.
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ERP Software Market Research Report: Information By Deployment (On-premise and Cloud), Function (Supply Chain and Product Management, Sales and Marketing, Accounting & Finance and Human Resource), Vertical (Manufacturing, Retail, BFSI, IT & Telecom, Aerospace & Defence, Education and Others), Organization Size (Small and Medium Enterprises and Large Enterprises) – Forecast till 2026