Description
Global ERP Software Market Research Report— Forecast till 2026
Market Overview
The global ERP Software Market is expected to register a CAGR of 8.2% to reach USD 66,389.7 million during the review period. The Enterprise resource management software is used to improve business performance and to detect and remove issues such as unnecessary assets. The global ERP software market is attributed to the adoption of advanced technologies such as IoT, AI, and Big Data Analytics. However, the effect of the COVID-19 pandemic is expected to impact positively on the Global ERP Software Market during the forecast period.
The global ERP Software Market Research is anticipated to exhibit notable market growth during the forecast period owing to the rising adoption of cloud & mobile applications. The global market growth is driven by the rising use of ERPs, in small and medium-sized enterprises to attain increased collaboration, simplified compliance, productivity, and risk management. Furthermore, the various advantages of integrating ERP software with wearable technology, such as information transfer in real-time, minimized errors, real-time access to data, and faster decision-making are set to create various lucrative opportunities for market development. However, the global market growth is expected to hider due to the rising cost and requirement of a long time for the implementation process.
Market Segmentation
The global ERP software market has been categorized by deployment, function, vertical, organization size.
In terms of deployment type, the global ERP software market has been bifurcated into on-premises and cloud. Based on function, the global market has been divided into the supply chain and product management, sales & marketing, accounting & finance, and human resource.
The organization size segment classifies the global ERP software market into large enterprises and small & medium enterprises. In terms of vertical, the global market has been segmented into manufacturing, retail, BFSI, IT & telecom, aerospace & defense, education, and others.
Regional Analysis
Geographically, the global ERP software market has been categorized into North America, Europe, Asia Pacific, the Middle East & Africa, and South America.
North America is likely to the global market owing to the largest share of 33.4% in 2019, with a market valuation of USD 12.754.2 million. The region is expected to register a CAGR of 7.6% during the review period owing to the rise in the adoption of ERP software to improve transparency and operational efficiency. Moreover, the increasing demand for data-driven decision-making and the growing adoption of a cloud-based deployment model is expected to propel market growth.
Europe is expected to register the second-largest market of global ERP Software Market owing to the rising adoption of ERP by midsize and businesses. The market is expected to reach USD 10.734.1 million to witness a CAGR of 28.1%.
Key Players
The major market players of the global ERP Software market Research report include Microsoft Corporation, IBM Corporation, Epicor Software Corporation, Oracle Corporation, SAP SE, Yonyou, Infor, Sage Software plc, Plex Systems Inc., NetSuite Inc, Intuit Inc, TOTVS, Unit4, Workday Inc, and Kingdee International Software Group (HK) Ltd.
COVID 19 Impacts
We are continuously tracking the impact of the COVID-19 pandemic on various industries and verticals within all domains. Our research reports include the same and help you understand the drop and rise, owing to the impact of COVID-19 on the industries. Also, we help you to identify the gap between the demand and supply of your interested market. Moreover, the report helps you with the analysis, amended government regulations, and many other useful insights.
