ERP Software Market Value to Touch USD 49.03 Bn by 2023
Market synopsis
As per Market Research Future (MRFR) study, the world ERP software market 2020 can rise at 7.45%
CAGR by 2023. The increase in ERP software trends can result in the escalation of the ERP software
market valuation. In 2017, USD 32.44 Bn was recorded as ERP market valuation. MRFR findings
states that the global ERP market can surge at USD 49.03 Bn by 2023. The notable presence of some
reputed ERP software developers can result in the expansion of the ERP software market. In North
America, the expansion of the technical base can boost the expansion of the ERP software in the
region.
The increased adoption of ERP software by numerous enterprises to improve operational threshold,
productivity, and transparency can support the expansion of ERP software market through the
assessment period. The cloud-based deployment model utility is increasing across different sectors,
thus improving the deployment of ERP software. ERP software is providing a different base to
remodel business, which is likely to prompt the expansion of the market. On the downside, the easy
availability of open source platforms can restrain the market expansion.
The existence of numerous growth prospects and rise in the cloud ERP software adoption can
prompt flexibility of businesses. This is expected to encourage the expansion of the ERP software
market. The growing efficacy of ERP software to enhance resource management and improve
integration potential of different organizations add leverage to the expansion of the ERP software
market. The rise in the need to implementation ERP software to rise operational ability of an
organization can add impetus to the market growth.
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Market Segmentation
MRFR’s segment study of ERP software market is done by application, vertical, and deployment. The
deployment based ERP software market segments are On Cloud and On Premise. The application
based ERP software market segments are Business Intelligence, HR, Accounting, Sales, CRM, and
others. The vertical based ERP software market segments are IT, Healthcare, Communication,
Manufacturing, BFSI, and Entertainment. The IT sector can generate large revenue for the ERP
software market in the years to come.
Regional Analysis
North America ERP software market can register substantial expansion in the review period. The
regional market is poised to attain a high annual income across the assessment period. In North
America, the ERP software market is expected to secure a large share of the world market in the
forecast period. The US, followed by the rest of North America, the ERP software market can surge
at a high pace as well-established ERP software traders dwell in the region. Microsoft Corporation,
Epicor, QAD, and Infor are some notable players that can cause the expansion of the market in this
region. In Europe, the sudden fall in native applications utility and the rise in the desirability for
cloud based applications can support the ERP software market in the region. The lack of technical
expertise in the Middle East Asia can cause steady growth of the market.
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Key Players
Infor (U.S.), Consona Corporation (U.S.), FIS Global (U.S.), SAP SE (Germany), Microsoft Corporation
(U.S.), Sage (U.K), Oracle (U.S.), Fujitsu (Japan), Epicor Software Corporation (U.S.), NetSuite Inc.
(U.S.), QAD (U.S.), and Syspro Infotech Pvt Limited (South Africa) are some notable players operating
in the ERP software market that are listed by MRFR. MRFR study reveals that these marketers are
likely to transform the competitive landscape of the world ERP software market. Detailed analysis of
the ERP software market is inked in full cooked MRFR report by our proficient analysts those
deployed modern market research methodologies.
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