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

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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