The global enterprise resource planning (ERP) software market was valued at US$ 42,501 Mn in 2020 growing at a CAGR of 11.34% over the forecast period (2021 – 2029).
COVID-19 Pandemic is Expected to Have a Positive Impact
The COVID-19 pandemic has affected the operations of countless business around the globe. They are adapting to the “new normal”, and increasingly relying on online initiatives to boost product sales globally. The pandemic has also accelerated the digitization drive in numerous companies, especially in the Middle East and Africa, and the Asia Pacific region. These companies are largely relying on enterprise resource planning systems to streamline business operations. Cost-cutting and productivity increase can be obtained using these systems. Cloud-based ERP solutions are growing in demand as a result of the pandemic. The ability of enterprise resource planning solutions to raise productivity, and reduce unwarranted expenditure is expected to help in the growth of these systems in the coming years. Therefore, the pandemic is expected to have a positive impact on the global enterprise resource planning (ERP) software market.
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Competitor List
Some of key players operating in the global enterprise resource planning (ERP) software market are Epicor Software Corporation, deskera.com, Dassault Systèmes, Infor, Microsoft, OpenPro, Inc., Oracle , QAD Inc., Ramco Systems, SAP SE, Sage Group plc, SYSPRO and Workday, Inc., amongst others.
Large Organizations Accounted for the Highest Market Share in 2020 in the Global Enterprise Resource Planning (ERP) Software Market
Based on the organization size, large organizations accounted for the highest revenue share in the global enterprise resource planning (ERP) software market in 2020. The growing focus on digitization as a result of higher budgets, coupled with the requirement for greater planning in these organization due to the higher volume of product sales or service offerings, has contributed towards the larger revenue share of these organizations in the global enterprise resource planning (ERP) software market.
Asia Pacific Region to Show the Highest Growth Rate During the Forecast Years (2021-2029)
Based on Absolute Markets Insight’s findings, the Asia Pacific region is expected to show the highest growth during the forecast years in the global enterprise resource planning (ERP) software market, owing to rapid digitization initiates undertaken by various companies in the Asia Pacific region. Another factor contributing for its growth is owing to rising focus of the market participants as a result of the growth in businesses in countries such as India, China, Indonesia, Singapore, amongst others. Activities such as supply chain management (especially in the healthcare and manufacturing sector), finance, administration, etc., are being streamlined using enterprise resource planning systems. Furthermore, the region is seeing a growth in indigenous companies that are offering enterprise resource planning solutions. SourcePro Infotech Pvt. Ltd., for instance, is an ERP provider headquartered in Ahmedabad, India, The solution can be deployed on the cloud, or on the end-user’s system, depending on their requirements. The core modules of their ERP solution include customer relationship management (CRM), production, sub-contracting, quality control and assurance and finance, amongst others. These factors are expected to propel the growth of the Asia Pacific region in the coming years.
Global Enterprise Resource Planning (ERP) Software Market
By Offerings
- Solutions
- Services
- Implementation and Deployment Services
- Training and Supports Services
- Consulting Services
- Others
By Deployment Type
- Cloud
- On-Premise
By Organization Size
- Large Enterprise
- Small and Medium Enterprises
By Platform
- Mobile
- Desktop
By Verticals
- Banking, Financial Services, and Insurance (BFSI)
- Manufacturing
- High Tech
- Media and Entertainment
- Healthcare and Life Science
- Automotive
- Government
- Food and Beverage
- Retail
- Others
By Application
- Financial Management
- Customer Relationship Management
- Project and Contract Management
- Sales Management
- Human Capital Management
- Supply Chain Management
- Service and Asset Management
- Others
By Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
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