Allied Market Research
Loading...
0

Enterprise Resource Planning (ERP) Market Expected to Reach $86.30 Billion by 2028

 

Report Code : A00517

quote North America dominated the ERP market in 2019, and is projected to remain dominant during the forecast period. This is attributed to a number of factors such as rise in penetration of industries such as manufacturing and retail & e-commerce as well as improvement in economy. Moreover, businesses in this region are transitioning from on-premise to cloud-enabled ERP software, owing to its low implementation cost and maintenance. Presence of large number of cloud ERP solution vendors across the U.S. and Canada is expected to provide lucrative opportunities for the market expansion during the forecast period quote

Rachita Rake
Research Analyst, ICT at Allied Market Research

Get 20% Free Customization In This Report
Follow us on Social Media:       
 

According to a recent report published by Allied Market Research, titled, Enterprise Resource Planning Market by Component, Deployment Model, Business Function, End User, and Industry Vertical: Global Opportunity Analysis and Industry Forecast, 2021-2028,” The global ERP market size was valued at $39,340 million in 2019, and is projected to reach $ 86,303 million by 2026, growing at a CAGR of 9.8% from 2020 to 2027. 

Factors such as increase in need for operational efficiency and transparency in business processes and rise in demand for data-driven decision-making are expected to fuel the market growth. In addition, surge in adoption of cloud as well as mobile applications is expected to drive the growth of the enterprise resource planning market. However, availability of open source applications and higher investment & maintenance costs are expected to negatively impact the ERP market. On the contrary, increase in demand for ERP among small- & medium-sized enterprises and technological advancements in enterprise resource planning software are expected to provide lucrative opportunities for the market growth in the coming years.

By deployment model, the on-premise segment acquired the largest ERP market share in 2019, and is expected to maintain its dominance in the upcoming years as on-premise deployment mode is considered widely useful in large enterprises, the software can be implemented on the IT infrastructure of the company itself and it provides more security as compared to the cloud.  However, the cloud segment is expected to witness the highest growth, owing to a paradigm shift in the deployment methods from on-premise to cloud-based models among SMEs and some large-scale organizations. In addition, leading market players have introduced strategies to help enterprises move their on-premise ERP model to cloud-based models. 

Depending on end user, the manufacturing industry segment dominated the ERP market share in 2019, and is expected to continue this trend in the upcoming years. This is attributed to rise in number of entrants in pharmaceutical, automotive, garment, and consumer electronics manufacturing markets. Moreover, surge in adoption of cloud solutions and rise in focus on the accumulation of customer data to aid in the decision-making process fuel the ERP market growth. However, the healthcare industry is expected to witness highest growth rate during the forecast period, owing to major shift toward value-based care being made by a growing number of healthcare organizations in emerging countries. Furthermore, the market has witnessed significant growth in the recent years due to increase in digitization of healthcare systems, which is opportunistic for the market.

The current estimation of 2027 is projected to be higher than pre-COVID-19 estimates. This is attributed to rapid increase in the demand for cloud-based ERP software that supported the businesses to sustain during pandemic. The ERP software solution played a vital role in keeping the entire business processes efficiently operating and under control. This is achieved through various features of ERP software such as remote access, digital data exchange, automated reporting, and real-time work floor control. In addition, the pandemic has forced businesses around the globe to shift their physical offices into the remote working set-ups, which has led to surge in demand for ERP software, thus fueling growth of the market. Furthermore, from drafting the work to managing constant workflows, ERP software enables the business operation management efficiently and maintains easier employee engagement. Thus, surge in adoption of ERP software due to remote working set-ups contributes toward the growth of the overall enterprise resource planning market.

Key Findings Of The Study

  • By component, in 2019 the software segment dominated the ERP market size. However, the service segment is expected to exhibit significant growth during the ERP market analysis.
  • Depending on deployment mode, the on-premise generated the highest revenue in 2019. However, the cloud segment is expected to witness highest growth rate in the near future.
  • On the basis of end user, the manufacturing segment accounted for the highest revenue in 2019, however, the healthcare segment is expected to witness highest growth rate during the forecast period.
  • Region wise, the enterprise resource planning market was dominated by North America in 2019. However, the Asia-Pacific segment is expected to witness highest growth rate during the forecast period.

Some of the key ERP industry players profiled in the report include SAP SE, Oracle Corporation, Sage Group plc, Workday, Inc., Infor, Epicor Software Corporation, SYSPRO, Microsoft Corporation, IFS, and Deskera. This study includes ERP market trends, ERP market analysis, and future estimations to determine the imminent investment pockets.

Need More Information

pr-det-talk Talk to David (Europe)

pr-det-talk Talk to Sona Padman (Americas)

5933 NE Win Sivers Drive #205,
Portland, OR 97220 United States

pr-det-phone Toll Free: +1-800-792-5285

pr-det-phone UK: +44-845-528-1300

pr-det-phone Hong Kong: +852-301-84916

pr-det-phone India (Pune): +91 2066346060

pr-det-phone Fax: +1(855) 550-5975

pr-det-phone help@alliedmarketresearch.com

 

For Media Inquiries, Please Contact

Tushar Nagose
Communications Officer
Allied Market Research
Contact Toll Free: +1-800-792-5285
Drop us an email at
media@alliedmarketresearch.com

 
 

First time buyer?
Check offers and discount on this report
To get this report

 
Click Here
 
 

quote Enterprise Resource Planning (ERP) Market by Component (Software and Service), Deployment Model (On-premise, Cloud, and Hybrid), Business Function (Finance, Human Resource (HR), Supply Chain, Customer Management, Inventory Management, Manufacturing Module, and Others), End User (Large Enterprises, Medium Enterprises, and Small Enterprises), and Industry Vertical (Manufacturing, BFSI, Healthcare, Retail & Distribution, Government & Utilities, IT & Telecom, Construction, Aerospace & Defense, and Others): Global Opportunity Analysis and Industry Forecast, 2019–2027 quote

View Report
 
 
Avenue Video Loading...

Avenue: Entire Library membership of Allied Market Research Reports at your disposal

  • Avenue is an innovative subscription-based online report database.
  • Avail an online access to the entire library of syndicated reports on more than 3,237 niche industries and company profiles on more than 12,953 firms across 11 domains.
  • A cost-effective model tailored for entrepreneurs, investors, and students & researchers at universities.
  • Request customizations, suggest new reports, and avail analyst support as per your requirements.
  • Get an access to the library of reports at any time from any device and anywhere.

 
 

Why Allied Market Research?

Infallible Methodology

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

Analyst Support

For complete satisfaction

Customization

On-demand customization of scope of the report to exactly meet your needs

Targeted Market View

Targeted market view to provide pertinent information and save time of readers

 

Featured Readings

 
rep-img

Published Date Jan 2021

Surgical Equipment Market

Download Sample
rep-img

Published Date Nov 2020

Medical Implant Market

Download Sample
 

Get Fresh content delivered

Get insights on topics that matter to your business. Stay updated on the area that interests you.

 
Get Industry Data Alerts
 

Buy Full Version
"Enterprise Resource Planning (ERP) Market"
Purchase Enquiry