Pune, Jan. 13, 2025 (GLOBE NEWSWIRE) -- Enterprise Resource Planning Software Market Size Analysis:
“The Enterprise Resource Planning Software Market was valued at USD 62.49 Billion in 2023 and is projected to reach USD 175.63 Billion by 2032, growing at a compound annual growth rate (CAGR) of 12.23% from 2024 to 2032.”
Enterprise Resource Planning Software Market Growth Driven by Cloud Adoption, AI Integration, and Evolving Business Needs
The enterprise resource planning software market has seen substantial growth as businesses look to streamline operations across key functions such as finance, supply chain, and human resources. Cloud technology plays a vital role by offering small and medium-sized enterprises affordable and scalable ERP solutions once limited to larger organizations. According to research, More than 55% of retail companies are adopting hybrid ERP systems, while 69% of private organizations report that the pandemic accelerated their digital transformation. ECI Software Solutions' 2024 acquisition of Khameleon Software further exemplifies this shift in the ERP landscape.
The demand for real-time analytics and AI-driven insights is intensifying as businesses seek greater efficiency. The integration of AI, machine learning, and IoT into ERP systems is improving automation and decision-making. Industries like manufacturing, retail, and healthcare are leveraging these technologies, with 58% of healthcare developers integrating AI, according to research. Cloud-based ERP adoption has surged due to hybrid work models, while blockchain integration promises enhanced data security and transparency.
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Major Players Analysis Listed in this Report are:
- Epicor Software Corporation (Epicor ERP, Prophet 21)
- Hewlett-Packard Development Company, L.P (HP Adaptive Management, HP Project Portfolio Management)
- Infor Inc. (Infor CloudSuite, Infor M3)
- IBM Corporation (IBM Cognos Analytics, IBM Maximo)
- Microsoft Corporation (Microsoft Dynamics 365, Microsoft Power BI)
- NetSuite Inc. (NetSuite ERP, NetSuite CRM+)
- Oracle Corporation (Oracle NetSuite, Oracle Fusion Cloud ERP)
- Sage Group plc (Sage Intacct, Sage 300cloud)
- SAP SE (SAP S/4HANA, SAP Business ByDesign)
- Unit4 (Unit4 ERP, Unit4 Financial Planning & Analysis)
- Workday Inc. (Workday Financial Management, Workday Human Capital Management)
- Deltek (Deltek Costpoint, Deltek Vantagepoint)
- QAD Inc. (QAD Adaptive ERP, QAD Cloud ERP)
- IFS AB (IFS Cloud, IFS Applications)
- Acumatica (Acumatica Cloud ERP, Acumatica Construction Edition)
- Syspro (SYSPRO ERP, SYSPRO Avanti)
- Tally Solutions Pvt Ltd (TallyPrime, Tally ERP 9)
- Odoo SA (Odoo ERP, Odoo CRM)
- Priority Software (Priority ERP, Priority Zoom)
- Ramco Systems (Ramco ERP Suite, Ramco Global Payroll)
- abas Software GmbH (abas ERP, abas Distribution)
- Plex Systems Inc. (Plex Smart Manufacturing Platform, Plex ERP)
ERP Software Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | USD 62.49 Billion |
| Market Size by 2032 | USD 175.63 Billion |
| CAGR | CAGR of 12.23% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Key Regional Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe [Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]). Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
| Key Growth Drivers | • The Rise of Data-Driven Decision Making as a Key Driver for ERP Software Market Growth • Integration with Emerging Technologies Fueling ERP Software Market Growth |
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On-Premise ERP Dominates Market, While Cloud ERP Experiences Rapid Growth
In 2023, the on-premise ERP segment held the largest enterprise resource planning software market share, approximately 58%, as businesses favored greater control over their data and infrastructure. These systems are particularly appealing to large organizations due to their enhanced security, customization, and regulatory compliance. The significant upfront investment and long-term stability make them ideal for industries prioritizing data privacy and control.
The cloud ERP segment is forecasted to grow at a robust CAGR of 13.39% from 2024 to 2032. Cloud-based solutions offer businesses scalability, lower upfront costs, and faster implementation, making them attractive for those seeking agility. Factors like remote work adoption, real-time collaboration, and reduced IT burden are accelerating cloud ERP’s popularity as companies prioritize flexibility and cost-effectiveness in their digital transformation.
Finance ERP Dominates Market, While HR ERP Sees Rapid Growth
In 2023, the finance segment led the enterprise resource planning software, accounting for approximately 33% of the revenue share. This dominance is driven by the crucial role of financial management in businesses, with ERP systems providing solutions for budgeting, accounting, reporting, and compliance. The increasing complexity of regulations and the need for real-time financial insights are further boosting demand for robust financial management features in ERP solutions.
The HR segment is expected to grow at the fastest CAGR of 14.51% from 2024 to 2032. This growth is driven by businesses’ need to optimize workforce management and improve employee engagement. ERP systems with advanced HR capabilities streamline recruitment, performance management, and payroll, catering to organizations prioritizing employee experience and productivity, making HR the fastest-growing segment in the ERP market.
Enterprise Resource Planning Software Market Segmentation:
By Deployment
- On-premise
- Cloud
By Function
- Finance
- HR
- Supply Chain
- Others
By Enterprise Size
- Small & Medium Enterprises
- Large Enterprises
By Vertical
- Manufacturing & Services
- BFSI
- Healthcare
- Retail
- Government
- Aerospace & Defense
- Telecom
- Others
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North America Dominates Enterprise Resource Planning Software Market, While Asia Pacific Sees Rapid Growth
In 2023, North America held the largest share of the enterprise resource planning software, accounting for about 39% of the revenue. This dominance is due to the region’s presence of numerous established companies in sectors like manufacturing, finance, and retail, which rely on ERP systems for operational efficiency. The region's advanced technological infrastructure, high cloud computing adoption, and focus on digital transformation further boosted ERP demand.
The Asia Pacific region is set to grow at the fastest CAGR of 14.85% from 2024 to 2032, driven by rapid industrialization and digitalization in countries like China, India, and Japan. As businesses in the region aim to improve operational efficiency, manage resources, and optimize supply chains, the demand for ERP systems is surging. The growing adoption of ERP solutions by small and medium enterprises and increased investments in digital infrastructure will support this rapid growth.
Recent Developments in the Enterprise Resource Planning Software Market
- In 2024, Epicor acquired Smart Software to boost its supply chain management solutions with advanced demand forecasting and inventory optimization capabilities, enhancing its AI-driven analytics offerings.
- In October 2023, IBM and KPMG strengthened their partnership to accelerate SAP S/4HANA adoption in the energy and utilities sector, combining IBM's technical expertise with KPMG's industry insights for improved Cloud ERP implementations.
Table of Contents – Major Key Points
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
6. Competitive Landscape
7. Enterprise Resource Planning Software Market Segmentation, By Deployment
8. Enterprise Resource Planning Software Market Segmentation, By Function
9. Enterprise Resource Planning Software Market Segmentation, By Enterprise Size
10. Enterprise Resource Planning Software Market Segmentation, By Vertical
11. Regional Analysis
12. Company Profiles
13. Use Cases and Best Practices
14. Conclusion
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