Enterprise Resource Planning (ERP) Market to Hit $117.09 Billion by 2030 at a CAGR of 10.0% | AMR

According to the report, the "enterprise resource planning (ERP) market" was valued at $43.72 billion in 2020, and is projected to reach $117.09 billion by 2030, growing at a CAGR of 10.0% from 2021 to 2030.

The rise in the need for operational efficiency and transparency in business processes and the increase in demand for ERP software from small & medium enterprises boost the growth of the global market. In addition, the surge in adoption of cloud and mobile applications is positively impacting the growth of the market.

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However, the availability of open-source ERP applications and the high implementation cost of ERP software technology hamper the growth of the ERP market. On the contrary, the rise in the application of ERP solutions in small & medium enterprises and the rapid transformation of modern business models are expected to offer remunerative opportunities for the expansion of the enterprise resource planning market during the forecast period.

ERP software solutions are designed to help small and medium-sized enterprises manage their business operations while improving collaboration, compliance, productivity, and risk management. Furthermore, ERP software solutions are often used by business organizations, as they provide businesses with a more efficient tool for planning and streamlining their business processes all from a single platform. ERP software solutions assist businesses in reducing operational expenses, enhancing the decision-making process, thereby increasing overall sales and customer experience.

Furthermore, key factors that drives the growth of the ERP market include rise in need for operational efficiency and transparency in business processes and increase in demand for ERP software from small and medium enterprises boost the growth of the global ERP industry. In addition, surge in adoption of cloud and mobile applications are positively impacting the growth of the ERP market.

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However, availability of open-source applications and high implementation cost of ERP software technology hamper in the growth of ERP software market. On the contrary, rise in application of ERP software in small and medium enterprises and rapid transformation of modern business models are expected to offer remunerative opportunities for expansion of the market during the forecast period.

By component, the software segment dominated the market in 2020, The demand for ERP software surged as businesses across industries increasingly sought to streamline operations, integrate various business functions, and enhance decision-making through centralized data management. However, the services segment is expected to witness the largest CAGR of 10.7%, this growth is driven by the increasing need for consulting, customization, implementation, and ongoing support as businesses adopt more complex ERP systems. As organizations transition to cloud-based and AI-powered ERP solutions, they require professional services for seamless integration with existing systems, data migration, training, and system optimization.

Based on industry vertical, the manufacturing segment dominated the overall ERP market in 2020, and is expected to continue this trend during the forecast period. This is attributed to various manufacturing sector business functions such as monitoring and tracking day-to-day operational performances, collaborating with multiple departments to improve internal operational efficiencies, and customer services being more impactful with the help of ERP software solutions. However, the healthcare segment is expected to witness highest growth, as the demand for efficient management of medical and healthcare resources is on the rise in various developing and developed nations.

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Region-wise, the ERP software market was dominated by North America in 2020, and is expected to retain its position during the forecast period, owing to its high digital and cloud technology adoption rates, which is expected to drive the market for ERP software technology during the forecast period. However, Asia-Pacific is expected to witness significant growth during the forecast period, owing to ongoing economic transformation in the region and increasing cloud adoption trends.

The outbreak of COVID-19 is anticipated to have a positive impact on growth of the ERP industry. This is attributed to the rapid growth in demand for cloud-based ERP software, which helped many businesses to endure the disruption caused by the COVID-19 outbreak. The ERP software solutions were one of the critical components that were helping in keeping the overall business operations of an organization to run smoothly and efficiently during the period of a global pandemic. ERP software solutions provided capabilities such as real-time work floor control, remote resource monitoring, faster data sharing, and automated reporting. Furthermore, the growing remote working trends in many countries further aided in the growth of ERP software solutions market during the period.

The key players profiled in the ERP market analysis are IBM Corporation, Infor, Microsoft Corporation, NetSuite Inc., Oracle Corporation, Sage Group Plc., SAP SE, SYSPRO, TOTVS S.A., and Unit4. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.

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Key Industry Developments

1. In July 2024, Eton Solutions launched an enterprise resource planning (ERP) platform - AtlasFive, for managing family offices in India.

2. In July 2024, SAP and its partner SGN Software Pvt Ltd launched a flagship Cloud ERP offering designed for small and mid-sized organizations.

3. In May 2024, Forterro launched Fortee, its entry-level cloud-based ERP solution. Fortee has been designed specifically for the needs of SME discrete manufacturers and industrial startups and is based on 15 years of cloud-ERP learning.

The report focuses on growth prospects, restraints, and analysis of the global ERP market trend. The study provides Porter's five forces analysis to understand the impact of various factors, such as bargaining power of suppliers, competitive intensity of competitors, threat of new entrants, threat of substitutes, and bargaining power of buyers on the global ERP market share.

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