ERP Software Market Analysis including Growth, Trends and Forecasts 2022 to 2030

Study Overview

The global ERP software market size was valued at USD 50.57 billion in 2021 and is expected to expand at a chemical compound almanac growth rate (CAGR) of x.7% from 2022 to 2030. The growth is attributed to factors such as the growing need for operational efficiency and transparency in business organization processes, increasing demand for data-driven decision-making, and rising adoption of mobile and cloud applications. Notwithstanding, the increasing availability of open-source applications and college initial investment and maintenance costs are expected to restrain the market growth.

The implementation of ERP software in organizations tin can reduce inventory costs past 25% – 30% and raw material costs past around fifteen%. The software ensures a smooth menses of cross-functional information, offering better productivity and decision-making. A ascent in the number of SMEs in developing economies such as Mainland china, India, and Brazil is expected to boost production demand over the forecast menses. The adoption of Information technology technologies in these economies is expected to change consumer behavior, leading to increased adoption of ERP software instead of transmission operations.

Low infrastructure costs and the ability to integrate with mobile devices are expected to increment demand for cloud services. Enterprises are ready to invest in cloud-connected mobile applications to facilitate synchronization, update, and control of documents. An increment in demand for cloud-based ERP solutions since the COVID-19 pandemic, especially from small- and medium-sized businesses, is predictable to offering various opportunities for the stakeholders in the market. Therefore, a surge in the adoption of cloud and mobile applications is propelling the growth of the ERP software market.

The increasing number of business applications and the growing size of information generated through different supply chains have enabled companies to deploy a centralized platform that manages all the operations. Additionally, the demand for ERP solutions has increased owing to rising automation and increasing technological deployments in the supply chain direction procedure, thereby contributing to marketplace growth.

Deployment Insights

The on-premises segment accounted for the largest share of over 70% of the market share in 2021. I of the major benefits of this deployment model is it offers continuous control and loftier security of information in whatsoever organization. A lack of awareness regarding the benefits of cloud-based solutions in business concern facilitates the adoption of on-bounds solutions in several emerging countries. Moreover, extensive apply of traditional approaches to managing the supply chain and other business operations with minimal automation and technological use is anticipated to drive segment growth.

The cloud segment is expected to dominate the marketplace by 2030 owing to its increasing adoption. The deject-based deployment of ERP software helps companies achieve immediacy, efficiency, optimization of resource planning activities, scalability, and accessibility. It as well offers benefits such every bit faster implementation and lower initial investments. Moreover, the adoption of continued devices that effectively manage business operations and provide real-time insights allows business owners to opt for cloud-based ERP solutions to process excessive data efficiently.

Function Insights

The finance segment accounted for the largest share of over 28.0% of the market share in 2021. The ERP software helps manage diverse financial activities, including accounting, investments, avails direction, and greenbacks menses management. Therefore, the growing adoption of ERP in the financial function is expected to augment the growth of the segment over the forecast flow.

The Human being Resource (Hour) segment deemed for a significant share of the marketplace. The growth of the segment is majorly attributed to the rapid expansion of organizations, making it difficult to manage all the company processes. Moreover, increased need for automation in HR processes is expected to propel the growth of the market place over the forecast period.

The supply chain ERP module offers improved visibility of various supply chain operations and enhances efficiency, speed, and client satisfaction. The rising adoption of ERP software in sales and distribution automation is anticipated to propel the growth of the market. Furthermore, growth in the e-commerce industry enables enterprises to opt for advanced solutions for managing supply concatenation operations effectively, thereby contributing to the growth of the segment.

Enterprise Size Insights

The large enterprises segment accounted for the largest share of over 39% of the market share in 2021. The increasing need of large enterprises to maintain and marshal complex processes such equally production planning, inventory management, procurement, lodge fulfillment, and aircraft is one of the central factors driving the growth of the segment.  Additionally, the high spending chapters of the big-sized enterprises on the implementation of modern engineering science and software solutions facilitates the adoption of cloud-based ERP software.

The medium enterprises segment is expected to witness a pregnant growth charge per unit and dominate the market past 2030. Factors such as the availability of cloud-based ERP, increased operational efficiency, reduced product cost, and on-time product delivery are expected to augment the growth of the segment over the forecast menses. Additionally, stringent government regulations take promoted various industries to apply ERP software, which, in plow, has enhanced productivity and reduced the complication of operations in multiple industries.

Vertical Insights

The manufacturing & services segment accounted for the largest share of over 20.0% of the marketplace in 2021. In this segment, the ERP software helps monitor daily operations, runway mean solar day-to-24-hour interval performances, and manage customer services. Some of the other benefits of the software are ease of inventory direction, product scheduling, and existent-time data tracking. The increasing need to track vendor functioning and enhance visibility throughout the supply chain enables manufacturers to opt for ERP solutions that assist them with efficient operations planning and management.

Mainstream manufacturing companies and ERP software vendors in North America and Europe are engaged in partnerships to enhance their productivity. Increasing automation and digital transformation processes across manufacturing industries in emerging countries of Asia Pacific is anticipated to offering numerous opportunities to ERP vendors in the market. Additionally, to make quick strategic decisions and enhance the productivity and profitability of the business, companies deploy ERP solutions to generate reports based on real-time insights into marketplace atmospheric condition.

Regional Insights

North America dominated the market with a share of over 35.0% in 2021. The large share of this region is primarily attributed to the factors such as the rising adoption of ERP software by small & medium-sized companies, increasing investments by ERP vendors in the evolution of software with the latest technologies, and the presence of numerous market players. Additionally, increasing accessibility to ERP functions through smartphone applications is further predictable to bulldoze the market growth over the forecast menstruation.

The Asia Pacific market is expected to grow owing to the booming manufacturing sector and growing minor and medium enterprises. A large number of enterprises in the region have already implemented on-premises ERP solutions to ameliorate the productivity and performance of their business. Moreover, the increasing number of start-ups and their rising demand for cloud-based solutions are further anticipated to heave the growth of the market. The government support for the implementation of It infrastructure is expected to broaden the demand for ERP software over the forecast catamenia.

Fundamental Companies & Market place Share Insights

The market is fragmented with numerous companies operating worldwide. To stay competitive in the market, marketplace players are pursuing a variety of growth strategies, including partnerships, strategic agreements and collaborations, mergers and acquisitions, and new product developments.

For instance, in 2020, Unit4, 1 of the ERP vendors, partnered with Embridge Consulting, a U.K.-based consulting firm, to offer SaaS-based ERP tools to small & medium-sized enterprises. Anticipation of the growing demands and development of new products integrated with the latest technologies were of key interest to the vendors. Some prominent players in the global ERP software market include:

• Hewlett-Packard Development Company, L.P.

• Epicor Software Corporation

• International Business Machines Corporation

• Infor Inc.

• NetSuite Inc.

• Microsoft Corporation

• SAP SE

• Oracle Corporation

• Unit4

• Sage Group, plc

ERP Software Market Report Scope

Report Attribute	Details
Market place size value in 2022	USD 54.77 billion
Revenue forecast in 2030	USD 123.41 billion
Growth charge per unit	CAGR of ten.7% from 2022 to 2030
Base year for estimation	2021
Historical data	2017 - 2020
Forecast menses	2022 - 2030
Quantitative units	Revenue in USD one thousand thousand and CAGR from 2022 to 2030
Report coverage	Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments covered	Deployment, office, enterprise size, vertical, region
Regional scope	Due north America; Europe; Asia Pacific; Southward America;  Eye East & Africa
Land scope	U.S.; Canada; United mexican states; Deutschland; U.Chiliad.; French republic; Cathay; India; Japan; Brazil
Key companies profiled	Hewlett-Packard Evolution Company, 50.P.; Epicor Software Corporation; International Business Machines Corporation; Infor Inc.; NetSuite Inc.; Microsoft Corporation; SAP SE; Oracle Corporation; Unit4; Sage Group, plc
Customization scope	Gratis report customization (equivalent up to viii analysts working days) with purchase. Addition or alteration to country, regional, and segment scope
Pricing and buy options	Avail customized purchase options to run across your verbal enquiry needs. Explore purchase options

Segments Covered in the Report

This report forecasts revenue growth at global, regional & land levels and provides an analysis of the latest trends and opportunities in each of the sub-segments from 2017 to 2030. For this written report, Grand View Enquiry has segmented the global ERP software market study based on deployment, function, enterprise size, vertical, and region:

• Deployment Outlook (Revenue, USD Million, 2017 - 2030)

  • On-premises

  • Cloud

• Office Outlook (Revenue, USD Million, 2017 - 2030)

  • Finance

  • Hour

  • Supply Concatenation

  • Others

• Enterprise Size Outlook (Revenue, USD Million, 2017 - 2030)

  • Large Enterprises

  • Medium Enterprises

  • Small Enterprises

• Vertical Outlook (Revenue, USD Million, 2017 - 2030)

  • Manufacturing & Services

  • BFSI

  • Healthcare

  • Retail

  • Government

  • Aerospace & Defense

  • Telecom

  • Others

• Regional Outlook (Revenue, USD Million, 2017 - 2030)

  • North America

    • U.Due south.

    • Canada

    • Mexico

  • Europe

    • Germany

    • U.Thousand.

    • France

  • Asia Pacific

    • Cathay

    • Japan

    • India

  • South America

    • Brazil

  • Middle East and Africa

Often Asked Questions About This Report

b. The global ERP software market place size was estimated at USD 50.57 billion in 2021 and is expected to reach USD 54.77 billion in 2022.

b. The global ERP software marketplace is expected to grow at a compound almanac growth rate of ten.7% from 2022 to 2030 to achieve USD 123.41 billion by 2030.

b. North America dominated the ERP software market with a share of over 39% in 2021. This is attributable to rapid technological advancement in ERP software coupled with the presence of numerous market players.

b. Some key players operating in the ERP software market include Oracle Corporation; IBM Corporation; Microsoft Corporation; SAP SE; Infor; NetSuite Inc.; Totvs S.A.; Unit4; and Syspro.

b. Key factors that are driving the ERP software marketplace growth include rising demand from pocket-size & medium enterprises and the evolution of cloud and mobile applications.

Source: https://www.grandviewresearch.com/industry-analysis/erp-software-market

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