Farmington, May 10, 2023 (GLOBE NEWSWIRE) -- The Global Enterprise Resource Planning Market Was Valued At USD 45.82 billion In 2022 And Is Expected To Expand USD 90.63 billion By 2030 at a CAGR Of 9.1% From 2022 To 2030. Key factors driving the growth of this market include increasing digitization and automation requirements will drive market demand, growing need for enterprises to enhance operational efficiency and streamline business procedures to promote growth.
In order for a business to function effectively, it must ensure that its available resources are utilized efficiently. Digitization boosts business productivity because automated processes are more rapid and effective. Companies have adopted diverse business models on a global scale due to the necessity of transparency and operational efficiency in business processes.
Request Sample Copy of Report “Enterprise Resource Planning Market Size, Share & Trends Estimation Report By Deployment Outlook (Cloud, On-premise, Hybrid) By Organization Size (SMEs, Large Enterprise) By Business Function (Financial Management, Human Capital Management, Supply Chain Management, Customer Management, Inventory and Work Order Management, Others (Sourcing and Procurement, Work Order Management) By End-User (Manufacturing, BFSI, IT & Telecom, Retail and Consumer Goods, Healthcare & Life Sciences, Transportation & Logistics, Government, Others) By Region, And Segment Forecasts, 2023 - 2030”, published by Contrive Datum Insights.
Segmentation Overview:
Deployment Outlook:
Based on how it is utilized, the market is divided into cloud, on-premise, and hybrid segments.
Throughout the forecast period, the cloud segment will hold the largest market share. The cloud segment is anticipated to gain market share in the coming years due to its low infrastructure costs and compatibility with mobile and tablet devices. Cloud solutions enable businesses to store data on the internet and provide them with tools to retrieve lost or stolen data.
In addition, the hybrid segment is anticipated to expand at the fastest rate over the coming years. The hybrid deployment model is expanding as more Big Data becomes accessible via cloud computing, as more end users desire better experiences, and as major players invest in hybrid ERP solutions.
Business Function:
The market is segmented by business function into financial management, human capital management, supply chain management, customer management, inventory and work order management, and other categories.
The financial management segment captured the largest market share and is anticipated to maintain its dominance in the coming years. The segment focuses on the money management capabilities of the software. SAP SE's suite includes, among other things, features for financial management such as streamlined financial processes, planning, budgeting, and forecasting. Financial services companies must now rely solely on new, scalable systems to ensure compliance with government data, operations, and accountability regulations.
Inventory and work order management is anticipated to grow at the fastest rate over the next few years. Growing demand for enterprise resource planning tools to help prioritize and coordinate work orders in an accurate and efficient manner is the primary driver of growth. Using the interactive work order management function of an ERP application, businesses can track and manage both planned and emergency maintenance tasks across the entire organization.
Organization Size:
The market is divided between small and medium-sized enterprises (SME) and large enterprises. The largest market share was captured by the segment of large businesses. Due to factors such as increased operational efficiency, lower production costs, and centralized data collection for wide distribution, large businesses are likely to purchase more of the product over the next few years. SYSPRO software, for instance, helps large businesses manage their global operations and numerous subsidiaries with customizable tools. In addition, many industries now use products because they must adhere to stringent government regulations. This has increased efficiency and simplified operations.
In addition, the segment of SMBs is anticipated to grow at the highest rate over the next five years. Cloud ERPs were created to assist SMBs in remaining competitive on the market by streamlining business processes and saving money. Also, growing SMBs require effective database management, a service that is anticipated to be in high demand.
End-User:
By end-user, the market is segmented as follows: manufacturing, BFSI, IT & telecom, retail & consumer goods, healthcare & life sciences, transportation & logistics, and others (aerospace & defense).
The healthcare segment is anticipated to grow at the highest rate and contribute the most to the global Enterprise Resource Planning software market share over the forecast period. Hospitals and healthcare organizations must be able to efficiently manage patient records. This is likely to increase the software industry's demand.
A substantial portion of the global market was also dominated by the manufacturing sector. The objective of these solutions for manufacturing companies is to improve all aspects of the manufacturing process, from sourcing and acquisition to development, storage, quality testing, and distribution, using advanced features and functions. Therefore, this type of production solution can increase production efficiency, reduce expenses, and increase sales and profits.
Regional Analysis:
The largest market share was held by North America, which contributed to the expansion of the enterprise resource planning (ERP) software market in North America. This was due to the increasing need to digitally automate business functions, which drove the expansion of the ERP software market in North America. Organizations in the United States and Canada are implementing ERP solutions to enhance their business processes and streamline their operations. For instance, Loblaw Companies Limited, a Canadian leader in the food and pharmaceutical industries, utilized SAP solutions to enhance the performance of business functions. Additionally, key players in the region are investing in research and development (R&D) to develop new solutions. For instance, in December 2017, SYSPRO, a global provider of software for businesses, partnered with Shift Group, a Quebec-based company, to strengthen its presence in eastern Canada.
During the projected period, Asia-Pacific is anticipated to expand at a rapid rate. The majority of the region's growth is attributable to expanding industries, such as manufacturing, BFSI, transportation, and logistics. To meet the growing demand for ERP solutions in these vertical industries, a number of major regional vendors are emphasizing the development and deployment of advanced ERP solutions. Numerous small businesses in the region use cloud-based solutions to increase productivity and simplify operations. Aside from this, government regulations that support IT infrastructure are also likely to drive the growth of the market in this region.
The expansion of the European market is primarily attributable to rising technological advances and the expansion of domestic manufacturing businesses. According to the European Commission, 30% of SMEs and 80% of large businesses utilized enterprise resource planning tools in 2019. This expansion is also attributable to the fact that many small and medium-sized enterprises (SMEs) in countries such as Germany, Italy, and France are adopting hosted enterprise resource planning (ERP) systems to better manage their businesses.
The global Enterprise Resource Planning (ERP) Software market has been analyzed in North America, Europe, Asia-Pacific, Latin America, the Middle East, and India, among other regions. In the near future, the Global region will dominate this market.
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Scope of Report:
| Report Attributes | Details |
| Growth Rate | CAGR of 9.1% from 2023 to 2030. |
| Revenue Forecast by 2030 | USD 90.63 billion |
| By Deployment Type |
|
| By Organization Size |
|
| By Business Function |
|
| By End-User |
|
| By Companies |
|
| Regions and Countries Covered |
|
| Base Year | 2022 |
| Historical Year | 2017 to 2022 |
| Forecast Year | 2023 to 2030 |
Market Dynamics:
• Integration difficulties with on-premises deployment models will impede ERP adoption
The incorporation of cloud-based enterprise resource planning (ERP) services and solutions by businesses has progressed gradually. However, due to implementation costs and system complexity, businesses continue to struggle with integrating these solutions with their existing systems. For a successful implementation, existing legacy systems must be tightly integrated with the new cloud-based ERP. A few businesses continue to rely on systems based on obsolete technology due to a lack of resources. There are manual processes involved, resulting in a longer turnaround time and a high rate of error.
• Integration issues with on-premises deployment models will prevent widespread ERP adoption.
The prevalence of cloud-based enterprise resource planning solutions and services is growing. However, companies still struggle to integrate these solutions with their existing systems due to the implementation costs and system complexity. For the new cloud-based ERP to function effectively, it must be tightly integrated with the existing systems. Due to a lack of funds, some businesses continue to utilize systems based on obsolete technology. They require manual steps that take longer and increase the likelihood of errors.
Opportunity Analysis:
• Emerging Economies Will Offer Growth Opportunities
The market for enterprise resource planning (ERP) can benefit from the rapid commercialization and industrialization of emerging economies. Entrepreneurs in the twenty-first century are willing to spend more on technology systems that give them more time for important tasks and allow them to delegate some tasks to systems such as enterprise resource planning (ERP) software. If new or existing players can gain the confidence of new entrepreneurs and businesses in Latin America and the Asia-Pacific region, they may be able to earn more money in these regions.
Key Segments Covered:
Top Market Players:
- Oracle
- IBM
- Microsoft
- SAP
- Infor
- Sage
- Netsuite
- Totvs
- Unit4
- Syspro
- Others
By Deployment:
- Cloud
- On-premise
- Hybrid
By Organization Size:
- SMEs
- Large Enterprise
By Business Function:
- Financial Management
- Human Capital Management
- Supply Chain Management
- Customer Management
- Inventory and Work Order Management
- Others (Sourcing and Procurement, Work Order Management)
By End-User:
- Manufacturing
- BFSI
- IT & Telecom
- Retail and Consumer Goods
- Healthcare & Life Sciences
- Transportation & Logistics
- Government
- Others (Aerospace and Defence)
Regions and Countries Covered
- North America: (US, Canada, Mexico, Rest of North America)
- Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
- Asia-Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
- The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
- Latin America: (Brazil, Argentina, Rest of Latin America)
- Rest Of the World
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