ERP Software Market Size Analysis, Segmentation, Industry Outlook and Forecasts, 2022

Felton, Calif., USA, Sept. 22, 2020 — /EPR Network/ — The global ERP Software Market research report provides complete insights on industry scope, global trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready, data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.

Market Overview:

In 2014, the ERP software market size was valued USD 27,648 millions globally. ERP system is a shared database that supports different business units. Integration of various functions in different business unit, transparency, and efficiency is predicted to drive the market over a forecast period. 

Key Players:

  • BENEO-Orafti SA
  • International Business Machines (IBM) Corporation
  • Microsoft Corporation
  • SAP SE
  • Infor
  • Sage Group Plc.
  • NetSuite Inc. 

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Growth Drivers: 

The need of streamlined processing in aerospace, defense, government utilities and industries will play a major role in market growth over a given period.

In Emerging economies such as Brazil, India and China the product will have great demand due to increasing number of SMEs. Development in IT sector, penetration of IT firms, and changing consumer behaviour in these regions will lead to adoption of ERP software over manual operations.

Low inventory cost and raw material cost will result in increased profits of firms, thus boosting demand for product in next seven years.

Verticals Outlook: 

  • Manufacturing & services
  • BFSI
  • Healthcare
  • Retail
  • Government utilities
  • Aerospace & defense
  • Telecom 

Regional Insights: 

Continuous technological advancement in ERP software in association with presence of different players has helped its growth in North America and the region account for a share over 40% in ERP software market. Application of ERP along with mobiles phones is anticipated to drive market in next seven years.

In 2013, European Union claimed 26% of its enterprise use ERP which was 5% more as compared to 2010. Leading players such as Oracle, Unit4, SAP and Syspro will boom market.

Manufacturing sector is expanding and developing at a extreme rate in Asia pacific, this will result in increase demand for ERP. Government support and cooperation for implementation for ERP will help to propel market.

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