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Key Factor Supporting Global ERP Software Market Development in 2025: Expanding E-Commerce Drives Growth In The Enterprise Resource Planning (ERP) Software Market
ERP Software
What Will the ERP Software Industry Market Size Be by 2025?
The size of the erp software market has expanded swiftly in the preceding years. It is projected to surge from $145.29 billion in 2024 to $159.87 billion in 2025, reflecting a compound annual growth rate (CAGR) of 10.0%. The historic period's growth is largely due to optimizing business processes, the necessities of integration, replacing legacy systems, adhering to regulatory compliance, and global expansion.
What's the Long-Term Growth Forecast for the ERP Software Market Size Through 2029?
The market size for ERP software is anticipated to undergo accelerated expansion in the following years, reaching a value of $234.5 billion in 2029 and growing at a Compound Annual Growth Rate (CAGR) of 10.1%. Factors contributing to the growth during the projection period include embracing of cloud ERP, digital evolvement, mobile and teleworking, artificial intelligence and automation, and the use of user-friendly interfaces. Prominent trends during the projected period will be the adoption of cloud-based ERP, mobile ERP, integration with Internet of Things (IoT), SaaS ERP, and integration with blockchain.
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What Are the Key Growth Drivers Fueling the ERP Software Market Expansion?
The upward trajectory of the e-commerce sector is projected to fuel the expansion of the enterprise resource planning (ERP) software market in the future. The term e-commerce encompasses all online or Internet-based purchases and sales of products and services. ERP software grants customers access to real-time data and updates, which can simplify the sales process and mitigate any potential issues. As an example, data released by the United States Census Bureau in August 2023 revealed that in the second quarter of 2024, the total retail e-commerce sales in the U.S. hit $291.6 billion. This represents a 1.3% jump from the prior quarter and a 6.7% growth compared to the same quarter in 2023. Overall retail sales came to an estimated $1,826.9 billion, denoting a 0.5% rise from the first quarter and a 2.1% rise year-over-year. E-commerce contributed to 16.0% of total sales. Hence, the burgeoning e-commerce sector is a major propellant for the amplification of the ERP software market.
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What Are the Key Trends Driving ERP Software Market Growth?
The recent trend in the ERP software market is to amalgamate blockchain technology with ERP systems. Blockchain is essentially the sequential record of data managed by multiple PCs owned by several entities, each block of data being protected by a cryptographic code. It's imperative for ERP vendors to stay up-to-date with their software to amplify the value they offer to their clients. Synthesizing ERP systems with blockchain will lead to a secure platform for collaboration, setting a system of records that can be openly shared with trusted parties. As an illustration, the software company SAP, is probing into ways to effectively incorporate blockchain into its existing ERP. It aims to enhance 3D printing and digital manufacturing by merging blockchain with ERP.
How Is the ERP Software Market Segmented?
The erp softwaremarket 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, Healthcare, 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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Which Companies Are Leading the Charge in ERP Software Market Innovation?
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
Which Regions Are Leading the Global ERP Software Market in Revenue?
Asia-Pacific was the largest region in the ERP software market in 2024. 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
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