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ERP Software Market by Global Demand and Latest Technology 2021 to 2030

12-02-2021 03:54 PM CET | IT, New Media & Software

Press release from: Nextmsc

ERP Software Market by Global Demand and Latest Technology 2021

The Global ERP Software Market size was valued at USD 37.53 billion in 2019 and is predicted to reach USD 68.34 billion by 2030 with a CAGR of 5.6% from 2020-2030.

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Top Companies: Oracle Corporation, SAP SE, Sage Software Solutions Pvt. Ltd., Infor, Workday, Inc., Epicor Software Corporation, Microsoft Corporation, Syspro, Deskera and others.

Market Dynamics and Trends

The global ERP software market is proliferating due to growing demand from manufacturing industry, small & medium scale enterprises, and corporate sector. Moreover, increasing demand for Human Resource module, is projected to create ample opportunities for the growth of ERP software market.

Furthermore, factors such as increasing penetration of AI, API, IoT, automation, and robotics technologies, growing preferences to digitize entire business ecosystem, and upsurge in cloud computing, are anticipated to supplement the growth of ERP software market in coming future.

However, availability of open source applications and high maintenance cost are expected to negatively impact the growth of ERP software market.

Moreover, emergence of large enterprises and proliferating BFSI sector raises the demand for efficient ERP solutions, thereby propelling the growth of ERP software market throughout the forecast period.

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Market Segmentations and Scope of the Study:

The global ERP software market share has been analyzed based on component, deployment, business function, industry vertical, end user and geography.

Based on component type, the ERP software market is divided into software and service based. Based on deployment, the market is fragmented into cloud, hybrid, and on-premise. Based on business function, the market is segmented into finance, Human Resource (HR), supply chain, customer management, inventory management, manufacturing module, and others. Based on industry vertical, the ERP software market is bifurcated into manufacturing, retail & distribution, BFSI, healthcare, government & utilities, IT & telecom, aerospace & defense, construction, and others. Based on end user, the market is divided into large enterprises, medium enterprises, and small enterprises. Geographic breakdown and analysis of each of the previously mentioned segments include regions comprising North America, Europe, Asia-Pacific, and RoW.

Geographical Analysis

North America dominated the global ERP software market in the past and is expected to maintain this trend throughout the forecast period, owing to presence of ERP software traders in large numbers. Moreover, factors such as higher adoption of cloud computing for business orientation, higher economic standards, and increased penetration of new markets, are projected to propel the growth of ERP software market throughout the forecast period.

Asia Pacific is expected to witness a substantial market growth accounting for the highest CAGR values in the global ERP software market, throughout the forecast period. This is attributed to presence of emerging economies especially India and China, evolution of small business enterprises, and growing awareness regarding the benefits offered by ERP software in managing the overall business ecosystem.

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About Next Move Strategy Consulting:

Next Move Strategy Consulting is an independent and trusted third-platform market intelligence provider, committed to deliver high quality, market research reports that help multinational companies to triumph over their competitions and increase industry footprint by capturing greater market share. Our research model is a unique collaboration of primary research, secondary research, data mining and data analytics.

We have been servicing over 1000 customers globally that includes 90% of the Fortune 500 companies over a decade. Our analysts are constantly tracking various high growth markets and identifying hidden opportunities in each sector or the industry. We provide one of the industry’s best quality syndicate as well as custom research reports across 10 different industry verticals. We are committed to deliver high quality research solutions in accordance to your business needs. Our industry standard delivery solution that ranges from the pre consultation to after-sales services, provide an excellent client experience and ensure right strategic decision making for businesses.

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