Enterprise Resource Planning Market Is Booming Worldwide | SAP SE, Oracle Corporation, Microsoft Corporation, NetSuite

The Enterprise Resource Planning Market report provides the overall structure and business outlook of the global and regional industries. The study also involves the important Achievements of the market, Research & Development, new product launch, product responses, and regional growth of the leading competitors operating in the market on a global and local scale. This study provides information about the growth and revenue during the historic and forecasted period of 2015 to 2026. The structured analysis contains graphical as well as a diagrammatic representation of the global Enterprise Resource Planning Market with its specific geographical regions.

The global enterprise resource planning market was valued at USD 43.09 billion in 2020 and expected to reach USD 70.77 billion by 2026 and grow at a CAGR of 8.66% over the forecast period (2021 - 2026). .

Top leading Manufacturers Profiled in Enterprise Resource Planning Market Report are: SAP SE, Oracle Corporation, Microsoft Corporation, NetSuite Inc., SYSPRO (Pty) Ltd, Plex Systems Inc., FinancialForce.com Inc., Infor Inc., Epicor Software Corporation, International Business Machines Corporation (IBM), The Sage Group PLC, IQMS Inc., Lake Financial Systems, Sage AU

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Latest Update and Developments

- In July 2020 - SAP and Siemens signed a partnership deal to accelerate the digitization of manufacturing processes. A new agreement between SAP and Siemens combines SAP ERP systems with Siemens Teamcenter PLM platform, enabling companies to develop an end-to-end digital thread for manufacturing.

- In July 2020 - Microsoft announced that it would supply the backbone cloud technologies for Woolworths SAP solutions, as the retailer migrates its current SAP footprint to Azure, paving the way for the upgrade path to SAP S/4HANA. Woolworths (Australian chain of supermarkets) has one of the largest SAP environments globally, which supports business-critical processes, including retail operations. Migrating SAP applications and platforms to Azure, including SAP ERP and SAP Cloud Platform, will enable this great business to innovate faster than ever.

Market Overview

Enterprise resource planning (ERP) is the integrated management of core business processes, which are often in real-time and are mediated by software and technology. ERP is usually referred to as a category of business-management software, typically a suite of integrated applications that an organization can use to collect, store, manage, and interpret data from various business activities

- Interpreting the data is crucial for decision making; however, Oracle survey data suggests that current ERP systems are not delivering meaningful insights needed. According to Oracle, although 60% of people used their ERP system to generate reports directly, nearly half (49%) used spreadsheets with data pulled from the system of record (survey on 400 finance and technology leaders). The fact that businesses feel compelled to take their data further with an ad-hoc spreadsheet reports shows ERP systems do not provide the insights businesses require. The problems with managing reports via spreadsheets are well-known, so it should be no surprise that companies have begun or are planning to move ERP to the cloud

Regional Analysis for Enterprise Resource Planning Market:

For a comprehensive understanding of market dynamics, the global Enterprise Resource Planning market is analyzed across key geographies namely the United States, Europe, China, Japan, Southeast Asia, India, Central & South America. Each of these regions is analyzed based on market findings across major countries in these regions for a macro-level understanding of the market.

Segment by Type
On premise ERP
Cloud-based ERP

Segment by Application
Manufacturing
BFSI
Healthcare
Aerospace & Defense
Telecom
Others

North America to Hold Major Share in the Market

- The growing need for internal process efficiency, primarily through digital methods, is one of the major driving forces for ERP adoption in the region. According to the IFS AB report, more than 41% of the companies in the United States invest in ERP solutions to mainly upgrade their internal process efficiency.

- Many major ERP vendors are collaborating with banks in the region for the development of faster payment methods. Citizens Bank was planning to phase in real-time payments for its commercial banking business, starting in 2019. The move is likely to necessitate corporations in upgrading their ERP systems. FIS global provided its FIS Core banking solutions to Citizen Bank in 2019. Additionally, NetSuite provided its NetSuite OneWorld ERP solution to Bankrate Inc. and generated a revenue of USD 434 million in 2019.

- Moreover, according to HIMSS Analytics, ERP adoption among the US hospitals increased from 18.8% of the hospitals in 2008 to 38.4% of the hospitals in 2018. Approximately 60% of the total number of US hospitals currently do not have an ERP solution installed. Almost 200 hospitals are presently contracting, investing, or planning to purchase an ERP solution, catering to a trend of integration of ERP in US hospitals.

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What is the Impact of Covid-19 Outbreak on the Enterprise Resource Planning?

- Optimistic Scenario: COVID-19 is contained by May or June, With Normalcy returning to global operations through the End of Q2.
- Conservative Scenario: COVID-19 Remains Prevalent, with Continued Impacts Lasting into Q4.
- Estimated Impact of the Coronavirus (COVID-19) Epidemic on the Global Enterprise Resource Planning.
- Enterprise Resource Planning Market Size in 2021
- Corporate Strategy the Manufacturers Should Be Thinking About Right Now.

Frequently Asked Questions about the Enterprise Resource Planning market:

- What are the recent developments and government policies?
- What are the top trends in the Enterprise Resource Planning market?
- What is the growth rate of the market?
- Which Is the Most potential market segment?
- Which are the top industry players in the Enterprise Resource Planning market?
- Which region would offer high growth for vendors in the market?

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The research includes historic data from 2015 to 2021 and forecasts until 2026 which makes the report an invaluable resource for industry executives, marketing, sales, and product managers, consultants, analysts, and stakeholders looking for key industry data in readily accessible documents with clearly presented tables and graphs.

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