ERP Software Market Size, Trends and Insights By Function (Finance, HR, Supply Chain, Others), By Deployment (On-premises, Cloud), By Enterprise size (Large Enterprises, Medium Enterprises, Small Enterprises), By Vertical (Manufacturing, BFSI, Healthcare, Retail, Government, Aerospace & Defense, Telecom, Others), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2023–2032


Report Code: CMI27294

Published Date: July 2023

Pages: 220+

Category: Technology

Report Snapshot

CAGR: 12.2%
50.40B
2022
59.52B
2023
141.67B
2032

Source: CMI

Study Period: 2023-2032
Fastest Growing Market: Asia-Pacific
Largest Market: Europe

Major Players

  • Epicor Software Corporation
  • Hewlett-Packard Development Company L.P.
  • Infor Inc.
  • International Business Machines Corporation
  • Others

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Reports Description

As per the current market research conducted by CMI Team, the global ERP Software market is expected to record a CAGR of 12.2% from 2023 to 2032. In 2022, the market size is projected to reach a valuation of USD 50.40 billion. By 2032, the valuation is anticipated to reach USD 141.67 billion.

The ERP (Enterprise Resource Planning) Software market refers to the global market for software solutions designed to help businesses manage and integrate various aspects of their operations. ERP software is a suite of applications that facilitate the automation and centralization of business processes, allowing organizations to streamline their workflows, improve efficiency, and make informed decisions.

Key features of ERP software typically include:

  • Integration: ERP systems consolidate data from different departments and functions within an organization, allowing seamless data sharing and real-time updates.
  • Automation: ERP software automates repetitive tasks and processes, reducing manual work and the risk of errors.
  • Data Management: ERP systems store and manage data in a centralized database, providing a single source of truth for the organization.
  • Financial Management: ERP software includes accounting and financial modules to manage financial transactions, budgets, and reporting.
  • Inventory Management: ERP systems help track inventory levels, monitor stock movements, and manage supply chain processes.
  • Human Resources Management: ERP software often includes HR modules for managing employee data, payroll, benefits, and performance evaluations.
  • Customer Relationship Management (CRM): Some ERP systems include CRM functionalities to manage customer data, sales, and marketing activities.
  • Reporting and Analytics: ERP software offers robust reporting and analytics capabilities to provide insights into business performance and trends.

The ERP Software market caters to businesses of all sizes and across various industries. Large enterprises, small and medium-sized businesses, and even startups can benefit from implementing ERP solutions to optimize their operations and drive growth.

The market for ERP software has been witnessing significant growth due to the increasing adoption of digital transformation strategies by businesses worldwide. As companies strive to improve productivity, enhance decision-making processes, and stay competitive in the market, they are turning to ERP software to streamline their operations and achieve better overall efficiency.

Additionally, the rise in cloud-based ERP solutions and mobile-friendly applications has further accelerated the adoption of ERP software among organizations of all sizes, making it a rapidly evolving and competitive market.

ERP Software Market – Significant Growth Factors

  • Digital Transformation Initiatives: The increasing emphasis on digital transformation by businesses across industries has led to a higher demand for ERP software. Organizations recognize the need to modernize their operations and leverage technology to improve efficiency and productivity.
  • Process Automation: ERP software offers robust process automation capabilities, enabling companies to streamline their workflows and reduce manual tasks. The automation of repetitive processes helps in saving time and resources, driving the adoption of ERP solutions.
  • Centralized Data Management: ERP systems provide a centralized database, consolidating data from different departments and functions within an organization. This single source of truth facilitates better data management, improved data visibility, and data-driven decision-making.
  • Enhanced Business Insights: ERP software offers advanced reporting and analytics tools, allowing businesses to gain valuable insights into their operations, performance, and trends. The availability of real-time data analytics helps companies make informed decisions to stay competitive.
  • Integration of Business Functions: ERP solutions integrate various business functions such as finance, inventory, human resources, sales, and customer relationship management. This integration enables seamless data flow between departments, fostering collaboration and efficiency.
  • Scalability and Flexibility: ERP software is designed to cater to businesses of all sizes, from small startups to large enterprises. The scalability and flexibility of ERP systems make them adaptable to changing business needs and growth requirements.
  • Cloud-Based Solutions: The emergence of cloud-based ERP solutions has significantly contributed to market growth. Cloud ERP offers greater accessibility, cost-effectiveness, and ease of implementation compared to traditional on-premise systems.
  • Industry-Specific Solutions: ERP vendors are increasingly offering industry-specific solutions tailored to the unique requirements of various sectors, such as manufacturing, healthcare, retail, and services. These specialized solutions cater to specific business needs, driving adoption within those industries.
  • Improved Security and Data Protection: ERP vendors invest in robust security measures to protect sensitive business data, addressing concerns related to data breaches and cyber threats. This enhanced security fosters confidence among businesses to adopt ERP software.
  • Regulatory Compliance Requirements: Many industries face strict regulatory compliance requirements. ERP systems help businesses maintain compliance by streamlining processes and ensuring accurate reporting.
  • Globalization and Multi-Location Operations: As businesses expand their operations globally or operate from multiple locations, ERP software becomes essential for managing complex operations and ensuring consistency across various units.

Global ERP Software Market 2023–2032 (By Deployment)

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ERP Software Market – Mergers and Acquisitions

  • Oracle Corporation Acquisitions: Oracle, a leading player in the ERP software market, has made several strategic acquisitions to expand its product portfolio and market reach. For instance, Oracle acquired NetSuite, a cloud-based ERP software provider, in 2016 to strengthen its position in the cloud ERP market.
  • SAP Acquisitions: SAP, another major ERP software vendor, has engaged in multiple acquisitions to enhance its offerings and capabilities. For instance, SAP acquired Qualtrics, an experience management platform, in 2018, enabling it to integrate customer experience data into its ERP solutions.
  • Infor Acquisitions: Infor, a global ERP software provider, has also been active in mergers and acquisitions to broaden its product offerings. For instance, Infor acquired Birst, a cloud-based business intelligence and analytics platform, to enhance its ERP solutions with advanced analytics capabilities.
  • Microsoft Dynamics 365: Microsoft’s ERP offering, Dynamics 365, has been continuously evolving through organic growth and acquisitions. Microsoft has integrated several ERP solutions, such as Dynamics NAV and Dynamics AX, into the unified Dynamics 365 platform.
  • Sage Group Acquisitions: Sage Group, a provider of ERP and accounting software, has made acquisitions to expand its product portfolio and global presence. For example, Sage acquired Intacct Corporation, a cloud-based financial management software provider, to strengthen its cloud ERP offerings.
  • Epicor Acquisitions: Epicor, a global ERP software vendor, has been involved in acquisitions to enhance its ERP solutions and market position. In 2021, Epicor was acquired by Clayton, Dubilier & Rice (CD&R), a private equity firm.

COMPARATIVE ANALYSIS OF THE RELATED MARKET

ERP Software Market Multi-Access Edge Computing Market Big Data Security Market
CAGR 12.2 % (Approx) CAGR 47.5 % (Approx) CAGR 14.90 % (Approx)
USD 54.76 Billion by 2032 USD 55,415 Million by 2030 USD 55.16 Billion by 2032

ERP Software Market – Significant Threats

  • Intense Competition: The ERP Software market is highly competitive, with numerous vendors offering a wide range of solutions. Intense competition can lead to price wars, reduced profit margins, and challenges in gaining market share.
  • Technological Disruptions: Rapid advancements in technology, such as the rise of cloud computing, artificial intelligence, and IoT (Internet of Things), could disrupt the traditional ERP market. Companies that fail to adapt to these technological changes risk losing relevance in the market.
  • Security and Data Privacy Concerns: ERP systems store and manage sensitive business data, making them attractive targets for cyberattacks and data breaches. The threat of security breaches and data privacy issues could lead to reputational damage and legal consequences for ERP vendors.
  • Implementation Challenges: ERP software implementations can be complex and time-consuming, leading to challenges for both vendors and customers. Delays and difficulties in successfully implementing ERP systems could impact customer satisfaction and vendor reputation.
  • Integration Issues: Integration with existing IT infrastructure and legacy systems can be challenging, especially for large enterprises with complex IT ecosystems. Difficulty in seamless integration may deter potential customers from adopting ERP solutions.
  • High Implementation Costs: The initial investment required for ERP implementation can be significant, especially for small and medium-sized enterprises (SMEs). High costs might discourage some organizations from adopting ERP systems.
  • Resistance to Change: Implementing ERP software often involves changes in business processes and workflows. Resistance to change among employees and management can hinder successful adoption and utilization of ERP systems.
  • Vendor Lock-In: Once a company invests in a particular ERP solution, migrating to a different system can be challenging and costly. Vendors may use proprietary data formats and structures, creating vendor lock-in for customers.
  • Market Saturation: In some regions, the ERP Software market may be reaching a point of saturation, with a high penetration rate among businesses. This could lead to slower growth rates for ERP vendors in mature markets.
  • Economic Uncertainty: Economic downturns or uncertainties can lead to reduced IT spending by businesses, affecting the demand for ERP software and services.
  • Inadequate User Training: Effective utilization of ERP systems requires proper user training. Inadequate training can lead to underutilization of features and lower ROI for customers.
  • Data Migration Challenges: Migrating data from legacy systems to new ERP platforms can be complex and error-prone. Data migration issues could lead to data loss or inconsistencies.

Report Scope

Feature of the Report Details
Market Size in 2023 USD 59.52 Billion
Projected Market Size in 2032 USD 141.67 Billion
Market Size in 2022 USD 50.40 Billion
CAGR Growth Rate 12.2% CAGR
Base Year 2022
Forecast Period 2023-2032
Key Segment By Function, Deployment, Enterprise size, Vertical and Region
Report Coverage Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Regional Scope North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America
Buying Options Request tailored purchasing options to fulfil your requirements for research.

Category-Wise Insights

Based on Function:

In 2023, the finance segment emerged as the largest contributor, holding over 27.0% of the market share in the ERP Software market. This dominance can be attributed to the ERP software’s ability to streamline various financial activities, encompassing accounting, investments, assets, and cash flow management. As businesses increasingly adopt ERP solutions to enhance financial functions, the demand for ERP software in this segment is expected to grow significantly during the forecast period.

Moreover, the human resource segment also accounted for a significant market share. The rapid expansion of organizations has made it challenging to efficiently manage all HR processes manually. To address this issue, companies are turning to ERP software to automate and optimize HR operations. The rising demand for HR process automation is expected to drive the growth of the ERP software market in this segment during the forecast period.

Based on Deployment:

In 2023, the on-premise segment emerged as the dominant player, holding a significant market share of over 72% in the ERP Software market. This dominance can be attributed to the advantages offered by the on-premise deployment model, including continuous control over the software and high data security within organizations. These benefits are expected to drive the growth of the on-premise segment throughout the forecast period.

Furthermore, in several emerging countries, there is a need for greater awareness regarding the benefits of cloud-based solutions in business operations. As a result, organizations in these regions are opting for on-premise solutions. Additionally, some emerging countries still heavily rely on traditional approaches to manage supply chains and other business operations, with minimal automation and technological use. This preference for traditional methods is also expected to contribute to the growth of the on-premise segment.

Global ERP Software Market 2023–2032 (By Billion)

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ERP Software Market – Regional Analysis

  • North America: North America held a prominent share in the ERP Software market. The region’s large number of established enterprises and technological advancements contributed to the high adoption of ERP solutions. The United States and Canada were key players in this market.
  • Europe: Europe was a mature market for ERP Software, with several countries experiencing significant adoption of ERP solutions. The region’s focus on technological advancements and business process optimization drove the demand for ERP software. Germany, the United Kingdom, France, and Italy were among the major markets in Europe.
  • Asia-Pacific: The Asia-Pacific region witnessed rapid growth in the ERP Software market. Factors such as the expanding manufacturing sector, increasing adoption of cloud-based solutions, and the rise of SMEs (Small and Medium-sized Enterprises) contributed to market growth. China, India, Japan, and Australia were major contributors to the market in this region.
  • Latin America: Latin America had been showing increasing interest in ERP solutions. Brazil, Mexico, and Argentina were among the countries experiencing growth in ERP adoption, driven by the need for business process optimization and automation.
  • Middle East and Africa: The Middle East and Africa region demonstrated steady growth in the ERP Software market. The region’s focus on digital transformation and the need for streamlining business operations contributed to the adoption of ERP solutions.
  • Oceania: Australia and New Zealand were significant contributors to the ERP Software market in the Oceania region. The region’s adoption of cloud-based ERP solutions and the need for integrated business management software influenced market growth.

Global ERP Software Market 2023–2032 (By Enterprise Size)

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List of the prominent players in the ERP Software Market:

  • Epicor Software Corporation
  • Hewlett-Packard Development Company L.P.
  • Infor Inc.
  • International Business Machines Corporation
  • Microsoft Corporation
  • NetSuite Inc.
  • Oracle Corporation
  • Sage Group plc
  • SAP SE
  • Unit4
  • Others

The ERP Software Market is segmented as follows:

By Function

  • Finance
  • HR
  • Supply Chain
  • Others

By Deployment

  • On-premises
  • Cloud

By Enterprise Size

  • Large Enterprises
  • Medium Enterprises
  • Small Enterprises

By Vertical

  • Manufacturing
  • BFSI
  • Healthcare
  • Retail
  • Government
  • Aerospace & Defense
  • Telecom
  • Others

Regional Coverage:

North America

  • U.S.
  • Canada
  • Mexico
  • Rest of North America

Europe

  • Germany
  • France
  • U.K.
  • Italy
  • Spain
  • Rest of Europe

Asia Pacific

  • China
  • Japan
  • India
  • New Zealand
  • Australia
  • South Korea
  • Rest of Asia Pacific

The Middle East & Africa

  • Saudi Arabia
  • UAE
  • Egypt
  • Kuwait
  • South Africa
  • Rest of the Middle East & Africa

Latin America

  • Brazil
  • Argentina
  • Rest of Latin America

Table of Contents

  • Chapter 1. Preface
    • 1.1 Report Description and Scope
    • 1.2 Research scope
    • 1.3 Research methodology
      • 1.3.1 Market Research Type
      • 1.3.2 Market research methodology
  • Chapter 2. Executive Summary
    • 2.1 Global ERP Software Market, (2023 – 2032) (USD Billion)
    • 2.2 Global ERP Software Market : snapshot
  • Chapter 3. Global ERP Software Market – Industry Analysis
    • 3.1 ERP Software Market: Market Dynamics
    • 3.2 Market Drivers
      • 3.2.1 Digital Transformation Initiatives
      • 3.2.2 Process Automation
      • 3.2.3 Centralized Data Management
      • 3.2.4 Enhanced Business Insights
      • 3.2.5 Integration of Business Functions
      • 3.2.6 Scalability and Flexibility
      • 3.2.7 Cloud-Based Solut
      • 3.2.8 Industry-Specific Solutions
      • 3.2.9 Improved Security and Data Protection
      • 3.2.10 Regulatory Compliance Requirements
      • 3.2.11 Globalization and Multi-Location Operations.
    • 3.3 Market Restraints
    • 3.4 Market Opportunities
    • 3.5 Market Challenges
    • 3.6 Porter’s Five Forces Analysis
    • 3.7 Market Attractiveness Analysis
      • 3.7.1 Market attractiveness analysis By Function
      • 3.7.2 Market attractiveness analysis By Deployment
      • 3.7.3 Market attractiveness analysis By Enterprise size
      • 3.7.4 Market attractiveness analysis By Vertical
  • Chapter 4. Global ERP Software Market- Competitive Landscape
    • 4.1 Company market share analysis
      • 4.1.1 Global ERP Software Market: company market share, 2022
    • 4.2 Strategic development
      • 4.2.1 Acquisitions & mergers
      • 4.2.2 New Product launches
      • 4.2.3 Agreements, partnerships, cullaborations, and joint ventures
      • 4.2.4 Research and development and Regional expansion
    • 4.3 Price trend analysis
  • Chapter 5. Global ERP Software Market – Function Analysis
    • 5.1 Global ERP Software Market overview: By Function
      • 5.1.1 Global ERP Software Market share, By Function , 2022 and 2032
    • 5.2 Finance
      • 5.2.1 Global ERP Software Market by Finance, 2023 – 2032 (USD Billion)
    • 5.3 HR
      • 5.3.1 Global ERP Software Market by HR, 2023 – 2032 (USD Billion)
    • 5.4 Supply Chain
      • 5.4.1 Global ERP Software Market by Supply Chain, 2023 – 2032 (USD Billion)
    • 5.5 Others
      • 5.5.1 Global ERP Software Market by Others, 2023 – 2032 (USD Billion)
  • Chapter 6. Global ERP Software Market – Deployment Analysis
    • 6.1 Global ERP Software Market overview: By Deployment
      • 6.1.1 Global ERP Software Market share, By Deployment , 2022 and 2032
    • 6.2 On-premises
      • 6.2.1 Global ERP Software Market by On-premises, 2023 – 2032 (USD Billion)
    • 6.3 Cloud
      • 6.3.1 Global ERP Software Market by Cloud, 2023 – 2032 (USD Billion)
  • Chapter 7. Global ERP Software Market – Enterprise size Analysis
    • 7.1 Global ERP Software Market overview: By Enterprise size
      • 7.1.1 Global ERP Software Market share, By Enterprise size , 2022 and 2032
    • 7.2 Large Enterprises
      • 7.2.1 Global ERP Software Market by Large Enterprises, 2023 – 2032 (USD Billion)
    • 7.3 Medium Enterprises
      • 7.3.1 Global ERP Software Market by Medium Enterprises, 2023 – 2032 (USD Billion)
    • 7.4 Small Enterprises
      • 7.4.1 Global ERP Software Market by Small Enterprises, 2023 – 2032 (USD Billion)
  • Chapter 8. Global ERP Software Market – Vertical Analysis
    • 8.1 Global ERP Software Market overview: By Vertical
      • 8.1.1 Global ERP Software Market share, By Vertical, 2022 and 2032
    • 8.2 Manufacturing
      • 8.2.1 Global ERP Software Market by Manufacturing, 2023 – 2032 (USD Billion)
    • 8.3 BFSI
      • 8.3.1 Global ERP Software Market by BFSI, 2023 – 2032 (USD Billion)
    • 8.4 Healthcare
      • 8.4.1 Global ERP Software Market by Healthcare, 2023 – 2032 (USD Billion)
    • 8.5 Retail
      • 8.5.1 Global ERP Software Market by Retail, 2023 – 2032 (USD Billion)
    • 8.6 Government
      • 8.6.1 Global ERP Software Market by Government, 2023 – 2032 (USD Billion)
    • 8.7 Aerospace & Defense
      • 8.7.1 Global ERP Software Market by Aerospace & Defense, 2023 – 2032 (USD Billion)
    • 8.8 Telecom
      • 8.8.1 Global ERP Software Market by Telecom, 2023 – 2032 (USD Billion)
    • 8.9 Others
      • 8.9.1 Global ERP Software Market by Others, 2023 – 2032 (USD Billion)
  • Chapter 9. ERP Software Market – Regional Analysis
    • 9.1 Global ERP Software Market Regional Overview
    • 9.2 Global ERP Software Market Share, by Region, 2022 & 2032 (USD Billion)
    • 9.3. North America
      • 9.3.1 North America ERP Software Market, 2023 – 2032 (USD Billion)
        • 9.3.1.1 North America ERP Software Market, by Country, 2023 – 2032 (USD Billion)
    • 9.4 North America ERP Software Market, by Function , 2023 – 2032
      • 9.4.1 North America ERP Software Market, by Function , 2023 – 2032 (USD Billion)
    • 9.5 North America ERP Software Market, by Deployment , 2023 – 2032
      • 9.5.1 North America ERP Software Market, by Deployment , 2023 – 2032 (USD Billion)
    • 9.6 North America ERP Software Market, by Enterprise size , 2023 – 2032
      • 9.6.1 North America ERP Software Market, by Enterprise size , 2023 – 2032 (USD Billion)
    • 9.7 North America ERP Software Market, by Vertical, 2023 – 2032
      • 9.7.1 North America ERP Software Market, by Vertical, 2023 – 2032 (USD Billion)
    • 9.8. Europe
      • 9.8.1 Europe ERP Software Market, 2023 – 2032 (USD Billion)
        • 9.8.1.1 Europe ERP Software Market, by Country, 2023 – 2032 (USD Billion)
    • 9.9 Europe ERP Software Market, by Function , 2023 – 2032
      • 9.9.1 Europe ERP Software Market, by Function , 2023 – 2032 (USD Billion)
    • 9.10 Europe ERP Software Market, by Deployment , 2023 – 2032
      • 9.10.1 Europe ERP Software Market, by Deployment , 2023 – 2032 (USD Billion)
    • 9.11 Europe ERP Software Market, by Enterprise size , 2023 – 2032
      • 9.11.1 Europe ERP Software Market, by Enterprise size , 2023 – 2032 (USD Billion)
    • 9.12 Europe ERP Software Market, by Vertical, 2023 – 2032
      • 9.12.1 Europe ERP Software Market, by Vertical, 2023 – 2032 (USD Billion)
    • 9.13. Asia Pacific
      • 9.13.1 Asia Pacific ERP Software Market, 2023 – 2032 (USD Billion)
        • 9.13.1.1 Asia Pacific ERP Software Market, by Country, 2023 – 2032 (USD Billion)
    • 9.14 Asia Pacific ERP Software Market, by Function , 2023 – 2032
      • 9.14.1 Asia Pacific ERP Software Market, by Function , 2023 – 2032 (USD Billion)
    • 9.15 Asia Pacific ERP Software Market, by Deployment , 2023 – 2032
      • 9.15.1 Asia Pacific ERP Software Market, by Deployment , 2023 – 2032 (USD Billion)
    • 9.16 Asia Pacific ERP Software Market, by Enterprise size , 2023 – 2032
      • 9.16.1 Asia Pacific ERP Software Market, by Enterprise size , 2023 – 2032 (USD Billion)
    • 9.17 Asia Pacific ERP Software Market, by Vertical, 2023 – 2032
      • 9.17.1 Asia Pacific ERP Software Market, by Vertical, 2023 – 2032 (USD Billion)
    • 9.18. Latin America
      • 9.18.1 Latin America ERP Software Market, 2023 – 2032 (USD Billion)
        • 9.18.1.1 Latin America ERP Software Market, by Country, 2023 – 2032 (USD Billion)
    • 9.19 Latin America ERP Software Market, by Function , 2023 – 2032
      • 9.19.1 Latin America ERP Software Market, by Function , 2023 – 2032 (USD Billion)
    • 9.20 Latin America ERP Software Market, by Deployment , 2023 – 2032
      • 9.20.1 Latin America ERP Software Market, by Deployment , 2023 – 2032 (USD Billion)
    • 9.21 Latin America ERP Software Market, by Enterprise size , 2023 – 2032
      • 9.21.1 Latin America ERP Software Market, by Enterprise size , 2023 – 2032 (USD Billion)
    • 9.22 Latin America ERP Software Market, by Vertical, 2023 – 2032
      • 9.22.1 Latin America ERP Software Market, by Vertical, 2023 – 2032 (USD Billion)
    • 9.23. The Middle-East and Africa
      • 9.23.1 The Middle-East and Africa ERP Software Market, 2023 – 2032 (USD Billion)
        • 9.23.1.1 The Middle-East and Africa ERP Software Market, by Country, 2023 – 2032 (USD Billion)
    • 9.24 The Middle-East and Africa ERP Software Market, by Function , 2023 – 2032
      • 9.24.1 The Middle-East and Africa ERP Software Market, by Function , 2023 – 2032 (USD Billion)
    • 9.25 The Middle-East and Africa ERP Software Market, by Deployment , 2023 – 2032
      • 9.25.1 The Middle-East and Africa ERP Software Market, by Deployment , 2023 – 2032 (USD Billion)
    • 9.26 The Middle-East and Africa ERP Software Market, by Enterprise size , 2023 – 2032
      • 9.26.1 The Middle-East and Africa ERP Software Market, by Enterprise size , 2023 – 2032 (USD Billion)
    • 9.27 The Middle-East and Africa ERP Software Market, by Vertical, 2023 – 2032
      • 9.27.1 The Middle-East and Africa ERP Software Market, by Vertical, 2023 – 2032 (USD Billion)
  • Chapter 10. Company Profiles
    • 10.1 Epicor Software Corporation
      • 10.1.1 Overview
      • 10.1.2 Financials
      • 10.1.3 Product Portfolio
      • 10.1.4 Business Strategy
      • 10.1.5 Recent Developments
    • 10.2 Hewlett-Packard Development Company L.P.
      • 10.2.1 Overview
      • 10.2.2 Financials
      • 10.2.3 Product Portfolio
      • 10.2.4 Business Strategy
      • 10.2.5 Recent Developments
    • 10.3 Infor Inc.
      • 10.3.1 Overview
      • 10.3.2 Financials
      • 10.3.3 Product Portfolio
      • 10.3.4 Business Strategy
      • 10.3.5 Recent Developments
    • 10.4 International Business Machines Corporation
      • 10.4.1 Overview
      • 10.4.2 Financials
      • 10.4.3 Product Portfolio
      • 10.4.4 Business Strategy
      • 10.4.5 Recent Developments
    • 10.5 Microsoft Corporation
      • 10.5.1 Overview
      • 10.5.2 Financials
      • 10.5.3 Product Portfolio
      • 10.5.4 Business Strategy
      • 10.5.5 Recent Developments
    • 10.6 NetSuite Inc.
      • 10.6.1 Overview
      • 10.6.2 Financials
      • 10.6.3 Product Portfolio
      • 10.6.4 Business Strategy
      • 10.6.5 Recent Developments
    • 10.7 Oracle Corporation
      • 10.7.1 Overview
      • 10.7.2 Financials
      • 10.7.3 Product Portfolio
      • 10.7.4 Business Strategy
      • 10.7.5 Recent Developments
    • 10.8 Sage Group plc
      • 10.8.1 Overview
      • 10.8.2 Financials
      • 10.8.3 Product Portfolio
      • 10.8.4 Business Strategy
      • 10.8.5 Recent Developments
    • 10.9 SAP SE
      • 10.9.1 Overview
      • 10.9.2 Financials
      • 10.9.3 Product Portfolio
      • 10.9.4 Business Strategy
      • 10.9.5 Recent Developments
    • 10.10 Unit4
      • 10.10.1 Overview
      • 10.10.2 Financials
      • 10.10.3 Product Portfolio
      • 10.10.4 Business Strategy
      • 10.10.5 Recent Developments
    • 10.11 Others.
      • 10.11.1 Overview
      • 10.11.2 Financials
      • 10.11.3 Product Portfolio
      • 10.11.4 Business Strategy
      • 10.11.5 Recent Developments
List Of Figures

Figures No 1 to 35

List Of Tables

Tables No 1 to 102

Report Methodology

In order to get the most precise estimates and forecasts possible, Custom Market Insights applies a detailed and adaptive research methodology centered on reducing deviations. For segregating and assessing quantitative aspects of the market, the company uses a combination of top-down and bottom-up approaches. Furthermore, data triangulation, which examines the market from three different aspects, is a recurring theme in all of our research reports. The following are critical components of the methodology used in all of our studies:

Preliminary Data Mining

On a broad scale, raw market information is retrieved and compiled. Data is constantly screened to make sure that only substantiated and verified sources are taken into account. Furthermore, data is mined from a plethora of reports in our archive and also a number of reputed & reliable paid databases. To gain a detailed understanding of the business, it is necessary to know the entire product life cycle and to facilitate this, we gather data from different suppliers, distributors, and buyers.

Surveys, technological conferences, and trade magazines are used to identify technical issues and trends. Technical data is also gathered from the standpoint of intellectual property, with a focus on freedom of movement and white space. The dynamics of the industry in terms of drivers, restraints, and valuation trends are also gathered. As a result, the content created contains a diverse range of original data, which is then cross-validated and verified with published sources.

Statistical Model

Simulation models are used to generate our business estimates and forecasts. For each study, a one-of-a-kind model is created. Data gathered for market dynamics, the digital landscape, development services, and valuation patterns are fed into the prototype and analyzed concurrently. These factors are compared, and their effect over the projected timeline is quantified using correlation, regression, and statistical modeling. Market forecasting is accomplished through the use of a combination of economic techniques, technical analysis, industry experience, and domain knowledge.

Short-term forecasting is typically done with econometric models, while long-term forecasting is done with technological market models. These are based on a synthesis of the technological environment, legal frameworks, economic outlook, and business regulations. Bottom-up market evaluation is favored, with crucial regional markets reviewed as distinct entities and data integration to acquire worldwide estimates. This is essential for gaining a thorough knowledge of the industry and ensuring that errors are kept to a minimum.

Some of the variables taken into account for forecasting are as follows:

• Industry drivers and constraints, as well as their current and projected impact

• The raw material case, as well as supply-versus-price trends

• Current volume and projected volume growth through 2030

We allocate weights to these variables and use weighted average analysis to determine the estimated market growth rate.

Primary Validation

This is the final step in our report’s estimating and forecasting process. Extensive primary interviews are carried out, both in-person and over the phone, to validate our findings and the assumptions that led to them.
Leading companies from across the supply chain, including suppliers, technology companies, subject matter experts, and buyers, use techniques like interviewing to ensure a comprehensive and non-biased overview of the business. These interviews are conducted all over the world, with the help of local staff and translators, to overcome language barriers.

Primary interviews not only aid with data validation, but also offer additional important insight into the industry, existing business scenario, and future projections, thereby improving the quality of our reports.

All of our estimates and forecasts are validated through extensive research work with key industry participants (KIPs), which typically include:

• Market leaders

• Suppliers of raw materials

• Suppliers of raw materials

• Buyers.

The following are the primary research objectives:

• To ensure the accuracy and acceptability of our data.

• Gaining an understanding of the current market and future projections.

Data Collection Matrix

Perspective Primary research Secondary research
Supply-side
  • Manufacturers
  • Technology distributors and wholesalers
  • Company reports and publications
  • Government publications
  • Independent investigations
  • Economic and demographic data
Demand-side
  • End-user surveys
  • Consumer surveys
  • Mystery shopping
  • Case studies
  • Reference customers


Market Analysis Matrix

Qualitative analysis Quantitative analysis
  • Industry landscape and trends
  • Market dynamics and key issues
  • Technology landscape
  • Market opportunities
  • Porter’s analysis and PESTEL analysis
  • Competitive landscape and component benchmarking
  • Policy and regulatory scenario
  • Market revenue estimates and forecast up to 2030
  • Market revenue estimates and forecasts up to 2030, by technology
  • Market revenue estimates and forecasts up to 2030, by application
  • Market revenue estimates and forecasts up to 2030, by type
  • Market revenue estimates and forecasts up to 2030, by component
  • Regional market revenue forecasts, by technology
  • Regional market revenue forecasts, by application
  • Regional market revenue forecasts, by type
  • Regional market revenue forecasts, by component

Prominent Players

  • Epicor Software Corporation
  • Hewlett-Packard Development Company L.P.
  • Infor Inc.
  • International Business Machines Corporation
  • Microsoft Corporation
  • NetSuite Inc.
  • Oracle Corporation
  • Sage Group plc
  • SAP SE
  • Unit4
  • Others

FAQs

The key factors driving the Market are Digital Transformation Initiatives, Process Automation, Centralized Data Management, Enhanced Business Insights, Integration of Business Functions, Scalability and Flexibility, Cloud-Based Solut, Industry-Specific Solutions, Improved Security and Data Protection, Regulatory Compliance Requirements And Globalization and Multi-Location Operations.

The “Function” category dominated the market in 2022.

The key players in the market are Epicor Software Corporation, Hewlett-Packard Development Company L.P., Infor Inc., International Business Machines Corporation, Microsoft Corporation, NetSuite Inc., Oracle Corporation, Sage Group plc, SAP SE, Unit4, Others.

“North America” had the largest share in the ERP Software Market.

The global market is projected to grow at a CAGR of 12.2% during the forecast period, 2023-2032.

The ERP Software Market size was valued at USD 50.40 Billion in 2022.

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