ERP Integration with Big Data to Fuel ERP Market's Growth

Triton Market Research presents the Global Enterprise Resource Planning Market report segmented by Application (Supply Chain, Inventory Management, Finance, Customer Management, Human Resource (HR), Manufacturing Module, Other Applications), Enterprise Size (Small Enterprises, Large Enterprises, Medium Enterprises), Verticals (IT and Telecom, Retail, Banking, Financial Services, & Insurance (BFSI), Manufacturing, Military and Defense, Government, Healthcare, Other Verticals), and by Geography (Europe, Middle East and Africa, Latin America, Asia-Pacific, North America). The report further discusses the Market Summary, Industry Outlook, Impact of COVID-19, Parent Market Analysis, Timeline of ERP, Key Insights, Porter's Five Forces Analysis, Key Impact Analysis, Market Attractiveness Index, Vendor Scorecard, Industry Components, Key Market Strategies, Drivers, Challenges, Opportunities, Competitive Landscape, Research Methodology & Scope, Global Market Size, Forecasts & Analysis (2022-2028).

Based on Triton Market Research estimates, the global enterprise resource planning market is set to garner revenue growth at a CAGR of 7.28% during the forecast period 2022-2028.

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Enterprise resource planning refers to a multipurpose system that enhances various business functions, including inventory handling, accounting, marketing, and sales.

The number of IoT-connected devices is anticipated to surge in the upcoming years, increasing the adoption of ERP solutions. The integration of ERP with big data and IoT helps efficiently access crucial information, such as location and performance. Hence, the integration of ERP with big data and IoT, in addition to surged demand from SMEs, opens new avenues for the enterprise resource planning market. However, the increase in common vulnerabilities and exposures, high costs, and easy access to open-source ERP software impedes the studied market's growth.

The Asia-Pacific is expected to emerge as the fastest-growing region in the market over the forecast period. The easy access to resources and low-wage labor has led to a rise in manufacturing companies. As a result, several large-scale companies have implemented on-premise ERP systems to enhance performance. Furthermore, a strong IT infrastructure development is expected to facilitate the adoption of cloud-based ERP software in the upcoming years. Thus, all these factors are driving the growth of the enterprise resource planning market within the APAC region.

The major companies in the ERP market include Unit4 NV, Infor Inc, The Sage Group Plc, Plex Systems Inc, SAP SE, IQMS, IBM Corporation, Ramco Systems Limited, Microsoft Corporation, Deskera Holdings Ltd, Syspro Ltd, IFS AB, Qad Inc, Epicor Software Corporation, Oracle Corporation, and Workday Inc.

The threat of new entrants is moderate; however, it may increase in the near future. The low capital investment in developing solutions has attracted several new players to enter the market. Moreover, the growing number of SMEs deploying ERP has been advantageous for new players, increasing their threat. Furthermore, the market is dominated by prominent leaders, holding shares through acquisitions, product launches, and meeting customer demand in niche segments. Thus, the competition among existing players is relatively high.

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