Enterprise Resource Planning (ERP) Software Market To Grow Dramatically As Organizations Make Data Analytics Top Priority

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Major Companies Covered by ERP Software Market Research Report include PLEX SYSTEMS (US), Acumatica, Inc. (US), Epicor Software Corporation (US), Unit4 (Netherlands) , Oracle Corporation (United States), Rootstock Software (United States), QAD, Inc. (United States), Sage Group plc (United Kingdom), SAP SE (Germany), SYSPRO (South Africa).

Pune, India, July 16, 2021 (GLOBE NEWSWIRE) – The world ERP Software Market The size is expected to reach USD 71.63 billion by 2026, with a CAGR of 8.5% during the forecast period. The integration of the Internet of Things (IoT) with business processes is expected to become the primary growth driver in this market, according to Fortune Business Insights ™ in its new report, “Enterprise Resource Planning (ERP) Software Market Size, Share & Industry Analysis, By Component (Software, Services), By Business Function (Financial Management, Human Capital Management, Chain Management) procurement, customer management, inventory and work order management, others); By company size (SME, large companies), by deployment (Cloud, on-premise, hybrid); By End Use (Manufacturing, BFSI, IT & Telecommunications, Retail & Consumer Goods, Healthcare, Transportation & Logistics, Government, Others) and Regional Forecast, 2019-2026”.

IoT is a form of artificial intelligence-based technology that allows inanimate objects to interconnect with each other and transmit data over the Internet. When integrated with ERP solutions, IoT makes it easier for businesses to collect, compile, analyze and process data, enabling them to make informed decisions and develop strategies. For example, IoT makes it possible to issue orders from multiple sources for the Quote to Cash (Q2C) process. Moreover, one of the significant trends in the ERP software market is the improvement of communication between vendors, suppliers and end consumers, which drives the adoption of ERP solutions in organizations.

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List of companies covered by the report:

• PLEX SYSTEMS (United States)

• Acumatica, Inc. (United States)

• Epicor Software Corporation (United States)

• Unit4 (Netherlands)

• Oracle Corporation (United States)

• Rootstock software (United States)

• QAD, Inc. (United States)

• Sage Group plc (United Kingdom)

• SAP SE (Germany)

• SYSPRO (South Africa)

SCOPE AND SEGMENTATION OF THE REPORT:

Cover of the report

Details

Forecast period

2019 to 2026

Forecast period 2019 to 2026 CAGR

8.5%

2026 value projection

$ 71.63 billion

Year of reference

2018

Market size in 2018

$ 38.15 billion

Historical data for

2015 to 2017

Number of pages

160

Tables, charts and figures

79

Covered segments

Component; Commercial function; Size of the company; Deployment; End user and region

Growth drivers

Growing demand for cloud-based ERP solutions to drive market growth

Using ERP solutions to automate business processes and strengthen financial transactions to drive the market

Increased demand for ERP software with enhanced data storage will drive market growth

Pitfalls and challenges

Lack of qualified professionals and high costs

According to the ERP Software Market report, the market value was USD 38.15 billion in 2018. In addition, the report provides the following information:

  • Panoramic overview of industry trends;

  • In-depth analysis of market drivers and challenges;

  • In-depth study of regional and competitive dynamics; and

  • Microscopic research on different market segments and precise calculation of market values.

Market restriction

Lack of ERP expertise to curb growth

Although enterprise resource planning promises high efficiency and increased productivity, it comes with a high upfront price to set up, making it difficult for small and medium businesses to implement. Even large, financially sound organizations find it cumbersome to adopt ERP software because its management requires expertise and currently there is a dearth of such professionals in the IT industry. Not all companies have the means to train their employees in ERP management, and any poor training can have counterproductive results. Therefore, the implementation of this technology has yet to achieve the appeal it should have, despite its many benefits for businesses.

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Regional analysis

Rapid adoption of ERP solutions to drive the market in North America

The market size in North America in 2018 was USD 14.36 billion and the region is poised to dominate the ERP software market share in the coming years. One of the main reasons for this is the high adoption rate of AI-based technologies such as IoT, machine learning, and cloud computing among organizations in the region. In addition, many companies are implementing ERP solutions to streamline their processes with the aim of improving efficiency through advanced automation of routine tasks, which is increasing the growth of the Resource Planning Software market. ‘business.

The expansion of the BFSI, logistics and manufacturing sectors will be the main driver of acceleration of this market in Asia-Pacific, according to the analysis of the ERP software market. In addition to this, the growth of the computer industry will further propel the market in this region.

Competitive landscape

Growing collaborations between players to intensify competition in the market

ERP software market players are increasingly partnering with each other and with other organizations to develop innovative and sustainable solutions for consumers. This helps them strengthen their position as an industry leader and at the same time expand their global footprint. Apart from this, companies are also focusing on improving their manufacturing capacity to meet the growing demand for advanced ERP solutions.

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Industry Developments:

  • October 2019: SYSPRO, a South African software development company, has collaborated with the Clean Energy Smart Manufacturing Innovation Institute (CESMII) to deliver smart manufacturing software and solutions to manufacturing companies across the United States. The partnership is part of a community-based project that brings together universities, governments and industry to promote sustainable manufacturing and R&D practices.

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Main Table of Contents for ERP Software Market:

  • introduction

    • Definition, by segment

    • Research approach

    • Sources

  • summary

  • Market dynamics

  • Key ideas

  • Global Enterprise Resource Planning (ERP) Software Market Analysis, Outlook and Forecast, 2015-2026

Table of contents (continued)..

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