ERP Software Market Growth Factors, Trends and Forecast Report to 2025

Posted on 2021-09-07 by researchinsights in Software // 0 Comments

San Jose, California , USA, Sept 07, 2021 — /EPR Network/ —

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

ERP is business management software that collect, stores, manage and interprets data from many business activities, thus allowing smooth flow of processes and better decision making and productivity. 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.

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The inventory cost can be reduced 25% to 30% and raw material cost by 15% due to implementation of ERP in an organization. Low inventory cost and raw material cost will result in increased profits of firms, thus boosting demand for product in next seven years.

Global ERP Software Deployment Outlook (Revenue, USD Million, 2012 – 2022)

On-premise
Cloud

Global ERP Software Functions Outlook (Revenue, USD Million, 2012 – 2022)

Finance
Human resource (HR)
Supply chain
Others

Global ERP Software Verticals Outlook (Revenue, USD Million, 2012 – 2022)

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

Global ERP Software End-User Outlook (Revenue, USD Million, 2012 – 2022)

Large enterprises
Medium enterprises
Small enterprises

The market is divided as there are different companies in market worldwide. Acquisition, innovation and new product development are key strategies opted by companies. IBM corporation, NetSuite Inc., Syspro, Unit4, Microsoft Corporation, Infor, SAP SE and Totvs S.A are key players in market.

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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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