ERP Software Market Other Key Strategies by Type & Geography Analysis & Forecast to 2022

ERP or Enterprise Resource Planning software used in the organization to monitor the certain activities and keep the record of it. ERP Software market has been growing rapidly from past few years and as a result, Global ERP Software is estimated to reach at USD 47 billion by the end of year 2022 with 7% of compound annual growth rate.

The global ERP Software Market is showing immense growth; mainly due to the emergence of cloud technologies. ERP software refers to a set of various ERP modules such as finance, sales, marketing, HR etc. and provides seamless integration of these modules. Implementing an ERP software has various benefits such as it improves efficiency, scalability and decreases costs. An ERP software helps in eliminating repetitive processes and hence provides improved efficiency. It also provides integrated information at a single location which helps in keeping data consistent, accurate, and unique. Having a centralized database also offers mobility to the users. ERP software also provides various forecasting tools which ultimately helps in making realistic estimates and more effective forecasts.

According to a recent study report published by Market Research Future, the global market of ERP software is booming and expected to gain prominence over the forecast period. The market is projected to demonstrate a spectacular growth by 2023 with a striking CAGR during the anticipated period (2017 – 2023). ERP or enterprise resource planning software is used in organizations to monitor certain activities and maintain records for the same. ERP software is gaining popularity with to the major software providers like Oracle and SAP coming up with developments in the market. Oracle’s ERP, EPM, & SCM Cloud business has over 2,600 customers whereas, the number of customers for SAP for its next-generation ERP suite has exceeded 3,700 by July 2016. An ERP system allows an organization to run a synchronized configuration that connects all the business processes. Technological advancements and economic growth influence the industry dynamics. Also, increasing demand for ERP software from medium and small enterprises is one major factor driving the market growth.

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Key players:

The key players in the market of ERP software are- SAP SE (Germany), Oracle (U.S.), Infor (U.S.), Microsoft (U.S.), Epicor (U.S.), QAD (U.S.), Sage (UK), NetSuite Inc. (U.S.), Consona Corp. (U.S.), Syspro (South Africa) among others.

Market Segmentation:

Segmentation by Installation: On Cloud & On Premises.

Segmentation by Application: CRM, Sales, Business Intelligence, Accounting, HR among others.

Segmentation by Industry Verticals: BFSI, Manufacturing, IT, Communication, Entertainment, Healthcare

Regional Analysis:

North America is dominating the global ERP software market. Factors such as presence of global players and nations such as of U.S. and Canada gives North America competitive advantage over other countries. Also, adoption rate of software in the business process in the organizations is giving boost to the North America ERP software market. Europe stands as second biggest market due to the growing BFSI and automotive industry. Asia Pacific has emerged as fastest growing market due to the growing manufacturing and semiconductor industry in China, Japan, Taiwan and South Korea.

Industry News

• In September 2016, Syspro announced update of its ERP software which will be helpful to manufacturers and distributors.
• In July 2016, Sage announced update for cloud-based solutions which will be helpful for accountants and entrepreneurs.

Target Audience

• ERP Software Providers
• Accounting firms
• Manufacturing companies
• IT and Software developers
• Entrepreneurs

The report for Global ERP Software Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.

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