According to Stratistics MRC, the Global Enterprise Resource Planning (ERP) Software market is expected to grow from $34.10 billion in 2017 to reach $74.20 billion by 2026 with a CAGR of 9.0%.
Factors such as improving operational efficiency and transparency within the organization and high penetration of cloud based deployment model are propelling the market growth. However, high installation price and the accessibility of open source applications are few factors inhibiting the market growth.
Enterprise Resource Planning (ERP) is software that permits organizations to run their business processes. The role of ERP has transitioned from back office activities to the integration of business processes. It usually integrates all facets of an operation including product planning, development, manufacturing, sales and marketing in a single database, application and user interface.
Based on deployment model, cloud deployment segment has a substantial growth in the market. This is attributed to the increase in adoption of cloud-based technologies coupled with growing scalability offered by these technologies. By application, Aerospace & Defense segment acquired significant growth during the forecast period. The major reason for this growth would be to maintain data transparency on real-time basis.
By geography, North America is dominating the market during the forecast period due to huge software implementation in business processes among organizations is propelling the region. Asia Pacific has emerged as fastest growing market owing to the rising manufacturing and semiconductor industry in emerging countries.
Some of the key players in the Enterprise Resource Planning (ERP) Software market include TOTVS, Microsoft Corporation, Syspro, SAP, Unit4, Tally, Oracle, NetSuite Inc., Focus Softnet, IBM Corporation, QAD, Epicor, Infor and Sage Group Plc.
Cloud Enterprise Resource Planning (ERP)
Two-tier Enterprise Resource Planning (ERP)
Social Enterprise Resource Planning (ERP)
Mobile Enterprise Resource Planning (ERP)
Function Types Covered:
Human Resource (HR)
Other Functions Types
Aerospace & Defense
Manufacturing and Services
Banking, Financial services and Insurance
End Users Covered:
o Rest of Europe
o New Zealand
o South Korea
o Rest of Asia Pacific
o Rest of South America
Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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– Market forecasts for a minimum of 9 years of all the mentioned segments, sub segments and the regional markets
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