Press release
ERP Software Market Size Forecasted To Achieve $242.89 Billion By 2029 With Steady Growth
ERP Software
What Is the ERP Software Market Size and Projected Growth Rate?
The ERP software market has experienced rapid growth in recent years. It will rise from $149.53 billion in 2024 to $165.55 billion in 2025, at a CAGR of 10.7%. This growth is attributed to business process optimization, the need for system integration, legacy system replacements, regulatory compliance, and global expansion.
The ERP software market is forecasted to grow rapidly in the coming years. It will reach $242.89 billion in 2029, at a compound annual growth rate (CAGR) of 10.1%. Growth drivers include the adoption of cloud ERP, digital transformation, mobile and remote work, AI and automation, and user-friendly interfaces. Major trends include cloud ERP adoption, mobile ERP, IoT integration, SaaS ERP, and blockchain integration.
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What Are the Major Segments in the ERP Software Market?
The ERP software market covered in this report is segmented -
1) By Function: Finance, HR, Supply Chain, Other Functions
2) By Deployment: On Premise ERP, Cloud ERP
3) By Vertical: Manufacturing And Services, BFSI, HealTH*Care, Retail, Government Utilities, Aerospace And Defense, Telecom, Other Verticals
Subsegments:
1) By Finance: Financial Management, Accounting And Financial Reporting, Budgeting And Forecasting, Accounts Payable Or Receivable, Treasury And Cash Management
2) By HR (Human Resources): Payroll Management, Recruitment And Onboarding, Employee Performance Management, Learning And Development, Benefits And Compensation Management
3) By Supply Chain: Inventory Management, Procurement And Sourcing, Order Management, Supplier Relationship Management, Demand Planning And Forecasting
4) By Other Functions: Customer Relationship Management (CRM), Sales And marketing Management, Production Planning And Scheduling, Project Management, Business Analytics And Reporting
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What Are The Driving ERP Software Market Evolution?
The rise of the e-commerce industry is expected to propel the growth of the enterprise resource planning (ERP) software market. ERP software is increasingly used by e-commerce businesses to manage real-time data, customer interactions, and sales processes, providing a seamless experience. According to the United States Census Bureau, U.S. retail e-commerce sales reached $291.6 billion in the second quarter of 2024, representing a 6.7% year-over-year increase. Therefore, the growth of the e-commerce sector is expected to drive the ERP software market.
Which Firms Dominate The ERP Software Market Segments?
Major companies operating in the ERP software market include SAP SE, Oracle Corporation, Microsoft Corporation, Epicor Software Corporation, Infor, Sage Intacct Inc., NetSuite Inc., IFS AB, Syspro Technologies, Brightpearl Limited, FinancialForce, Dolibarr ERP CRM, Awery Software FZ LLC, WP ERP, Kechie ERP, Stafiz, BatchMaster Software Pvt Ltd., Intuit Inc., Fidelity National Information Services Inc., Finserv Inc., Cerner Corporation, SS&C Technology Holdings Inc., Constellation Software Inc., Odoo, Lawson, Consona Corp, Activant Solutions Pvt Ltd., QAD Inc., Kronos Incorporated, International Business Machines Corporation
What Trends Are Expected to Dominate the ERP Software Market in the Next 5 Years?
A key trend in the ERP software market is the integration of blockchain technology. Blockchain, a secure, decentralized data-sharing method, can improve collaboration and data transparency. For instance, SAP is exploring how blockchain can be integrated into ERP systems to enhance processes like 3D printing and digital manufacturing.
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Which Is The Largest Region In The ERP Software Market?
Asia-Pacific was the largest region in the ERP software market in 2023. North America was the second largest region in the ERP software market. The regions covered in the erp software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the ERP Software Market?
2. What is the CAGR expected in the ERP Software Market?
3. What Are the Key Innovations Transforming the ERP Software Industry?
4. Which Region Is Leading the ERP Software Market?
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