What are the latest figures on the erp software market’s size and projected CAGR?
The ERP software market size has grown rapidly in recent years. It will grow from $149.53 billion in 2024 to $165.55 billion in 2025 at a compound annual growth rate (CAGR) of 10.7%. The growth in the historic period can be attributed to business process optimization, integration needs, legacy system replacement, regulatory compliance, global expansion.
The ERP software market size is expected to see rapid growth in the next few years. It will grow to $242.89 billion in 2029 at a compound annual growth rate (CAGR) of 10.1%. The growth in the forecast period can be attributed to cloud erp adoption, digital transformation, mobile and remote work, ai and automation, user-friendly interfaces. Major trends in the forecast period include cloud erp adoption, mobile erp, iot integration, saas erp, blockchain integration.
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Which Market drivers have played a significant role in driving the erp software market?
A rise in the e-commerce industry is expected to propel the growth of the enterprise resource planning (ERP) software market going forward. E-commerce refers to the activity of electronically buying or selling products and services on online services or over the Internet. ERP software can provide real-time data and updates to customers, keeping them informed throughout the sales process and reducing potential frustrations. For instance, in August 2023, according to reports published by the United States Census Bureau, a US-based government agency, in the second quarter of 2024, U.S. retail e-commerce sales reached $291.6 billion, marking a 1.3% increase from the previous quarter and a 6.7% rise from the same period in 2023, while total retail sales were estimated at $1,826.9 billion, reflecting a 0.5% increase from the first quarter and a 2.1% increase year-over-year, with e-commerce accounting for 16.0% of total sales. Thus, a rise in the e-commerce industry is driving the growth of the ERP software market.
What are the key segments within the erp software market?
The ERP software market covered in this report is segmented –
1) By Function: Finance, HR, Supply Chain, Other Functions
2) By Deployment: On Premise ERP, Cloud ERP
3) By Vertical: Manufacturing And Services, BFSI, Healthcare, Retail, Government Utilities, Aerospace And Defense, Telecom, Other Verticals
Subsegments:
1) By Finance: Financial Management, Accounting And Financial Reporting, Budgeting And Forecasting, Accounts Payable Or Receivable, Treasury And Cash Management
2) By HR (Human Resources): Payroll Management, Recruitment And Onboarding, Employee Performance Management, Learning And Development, Benefits And Compensation Management
3) By Supply Chain: Inventory Management, Procurement And Sourcing, Order Management, Supplier Relationship Management, Demand Planning And Forecasting
4) By Other Functions: Customer Relationship Management (CRM), Sales And marketing Management, Production Planning And Scheduling, Project Management, Business Analytics And Reporting
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Which key players are shaping the erp software market?
Major companies operating in the ERP software market include SAP SE, Oracle Corporation, Microsoft Corporation, Epicor Software Corporation, Infor, Sage Intacct Inc., NetSuite Inc., IFS AB, Syspro Technologies, Brightpearl Limited, FinancialForce, Dolibarr ERP CRM, Awery Software FZ LLC, WP ERP, Kechie ERP, Stafiz, BatchMaster Software Pvt Ltd., Intuit Inc., Fidelity National Information Services Inc., Finserv Inc., Cerner Corporation, SS&C Technology Holdings Inc., Constellation Software Inc., Odoo, Lawson, Consona Corp, Activant Solutions Pvt Ltd., QAD Inc., Kronos Incorporated, International Business Machines Corporation
Which transformative trends will shape the erp software market landscape?
One of the latest trends in the ERP software market is the integration of block chain technology with ERP. Block chain is a chronological series of data managed by multiple computers owned by multiple entities, and each block of data is secured by a cryptographic code. ERP vendors need to keep their software updated in order to maximize the value addition provided to their clients. Integration of ERP with block chain will create a secured platform for collaboration, through which systems of records can be freely shared to trusted parties. For example, SAP, a software company, is exploring ways in which it can implement block chain efficiently to its existing ERP. It is trying to integrate block chain to ERP to improve 3D printing and digital manufacturing.
How do regional factors impact the erp software market, and which region is the largest contributor?
Asia-Pacific was the largest region in the ERP software market in 2023. North America was the second largest region in the ERP software market. The regions covered in the erp software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
What Does The ERP Software Market Report 2025 Offer?
The erp software market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Enterprise resource planning (ERP) is software that organizations use to manage day-to-day business operations such as procurement, accounting, project management, risk management & compliance, and supply chain activities.
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