Dublin, March 05, 2024 (GLOBE NEWSWIRE) -- The "North America Enterprise Resource Planning - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029" report has been added to ResearchAndMarkets.com's offering.
The North America Enterprise Resource Planning Market size is estimated at USD 20.30 billion in 2024, and is expected to reach USD 31.98 billion by 2029, growing at a CAGR of 9.51% during the forecast period (2024-2029).
The ERP software market is expected to grow the most in the United States because more cloud-based and hybrid ERP systems are being used to improve operational efficiency.
Key Highlights
- In larger enterprises, it becomes increasingly difficult to maintain databases for all the departments and consolidate them for generating reports. The lead times are also longer as the data is sometimes duplicated across the business or there may be a lack of consistency in the reported information. ERP tools help enterprises overcome these hurdles and provide an integrated platform for all the processes so that the data can be actively accessed within departments, reducing lead times and duplication. This advantage of ERP systems would drive the market upward.
- While the overall ERP segment is expected to grow, factors such as the cost of business-specific customization and the cost of upgrading ERP tools are expected to stymie growth.Though medium-scale businesses and large enterprises are employing it, small businesses would not find much application as they may need more clearly defined departments to be managed. Market growth would also be slowed down by how hard it would be to combine several existing ERP systems into one legacy system.
- ERP is one of the major applications managed by business technology professionals. It also indicates the growth in market adoption in the region. The regional vendors are also utilizing this shift to digital with new business models for promoting ERP. This year, Infor announced a "Three for Free" program for smaller distributors in North America. For a limited time, small and mid-sized businesses (SMBs) in North America can receive a subscription for three free user licenses of Infor CloudSuite Distribution, a cloud platform powered by the Infor Distribution SX.e ERP system with an optional fixed-fee service engagement.
- The growing adoption of a two-tier ERP strategy in the region in line with Industry 4.0 is also pushing the market's growth. In September this year, the Michigan Economic Development Corporation gave 49 small enterprises in Michigan a total of USD 1.15 million to assist them in implementing Industry 4.0 technologies. The money comes from the second and third rounds of grants made as a part of the Industry 4.0 Technology Implementation Grant program, which has a budget of USD 3 million.
The pandemic scenario significantly impacted the expansion of the US ERP market in recent years. Further growth was anticipated as a result of the expanding use of ERP in the healthcare sector and businesses offering healthcare-related goods and services. Cloud-based services were successfully used by numerous healthcare organizations to create a reliable system that controlled patient counts, handled requests for pharmaceutical and therapeutic items, and distributed vaccines across international borders.
A selection of companies mentioned in this report includes
- SAP SE
- Oracle Corporation
- Microsoft Corporation
- Workday, Inc.
- Plex Systems Inc. (Rockwell Automation Inc.)
- FinancialForce.com Inc.
- Infor Inc.
- Epicor Software Corporation
- IBM Corporation
- The Sage Group PLC
- Unit4 NV
- Deacom Inc.
- Deltek Inc.
For more information about this report visit https://www.researchandmarkets.com/r/2i5blm
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