The GMI Research's latest analysis reveals that the ERP Software Market is slated to register a significant CAGR over the forecast period. This is attributed to the growing penetration of mobile and cloud applications which has surged the adoption of ERP software as it aids in decreasing the cost of maintaining & supporting the applications.
DUBLIN, DUBLIN -- (SBWIRE) -- 03/08/2021 -- ERP Software Market Dynamics (including market size, share, trends, growth, forecast, and industry analysis)
The growing penetration of mobile and cloud applications has surged the adoption of ERP software as it aids in decreasing the cost of maintaining & supporting the applications and facilitates in reducing the IT support services as the support is provided by the data center are the key driver contributing to the growth of the ERP software market size. According to the ERP software market analysis, the introduction of ERP software among the small and medium-sized companies to improve the efficiency & business insight and rise in the technological advancements in the software, including the launch of artificial intelligence and IoT, will further boost the growth of the global ERP software market share in terms of revenue in the coming years.
Several benefits regarding the usage of ERP software, such as streamlining the operations, minimizing errors & duplication, improving customer service, and enhancing the financial consolidations, optimizing the supply chain, and better efficiency, is one of the emerging ERP software market trends that will bolster the growth of the market. As per the ERP software market report, the rising penetration of IT technologies in emerging countries that include China and India is drastically changing consumer behavior, which in turn, is increasing the adoption of ERP software to boost flexibility and profitability. This factor is propelling the growth of the ERP software market. On the other hand, the high cost of installation of the software will restraint the growth of the market.
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ERP Software Market's leading Manufacturers:
- Oracle Corporation
- SAP SE
- IBM Corporation
- TOTVS S.A
- Workday, Inc.
- Sage Group Plc
- Epicor Software Corporation
Deployment Mode Segment Drivers
Based on the deployment model, the cloud is expected to witness a higher CAGR over the coming years due to the strong adoption of cloud-based ERP software as it aids in reducing the cost of infrastructure and enables the business to store the data over the internet, and facilitates in dealing with the concerns regarding the data loss or data breaches by providing tools to restore the data.
Based on the region, North America is predicted to lead the market over the coming years due to the fundamental shift of businesses from on-premises to cloud ERP software which is increasing the use of the ERP software. Additionally, the rapid technological advancements and the strong presence of various players offering ERP software will further stimulate market growth.
To Know More About ERP Software Market
ERP Software Market Segmentation:
Segmentation by Deployment Model:
Segmentation by Component:
Segmentation by Business Function:
- Supply Chain
- Human Resource
- Inventory Management
- Customer Management
- Manufacturing Module
Segmentation by Enterprise Size:
- Small & Medium Enterprises
- Large Enterprises
Segmentation by Industry:
- Government & Utilities
- Retail & Distribution
- Aerospace & Defense
- IT & Telecom
Segmentation by Region:
- North America
o United States of America
- Asia Pacific
o Rest of APAC
o United Kingdom
o Rest of Europe
o South Africa
o Saudi Arabia
o Rest of the world (remaining countries of the LAMEA region)
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