ERP Software 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, 2018-2026
Enterprise resource planning (ERP) is a software that enables organizations to manage and automate their business processes. This software has been widely used for back-office operations, which include inventory control production, order management, accounting, human resource (HR), and others. An ERP software system comprises several software modules, and each ERP module is focused on a particular departmental area, such as inventory control, finance, material purchasing, marketing, HR, and accounting. These modules can be customized according to the business requirement of the organization. In addition, ERPs have witnessed increased adoption, as they offer effective planning and streamlining of data under one platform, which helps in regulating operational costs, increase sales, and enhance decision-making. The adoption of ERP software is expected to increase in the upcoming years with the rise in focus of modern SMEs toward improving their operational and business process efficiency. This is anticipate to fuel the growth of the ERP software market.
Rise in need for operational efficiency & transparency in business processes, increase in demand for data-driven decision-making, and surge in adoption of cloud & mobile applications are the major factors that fuel the growth of the ERP software market. However, higher investment and maintenance costs and availability of open source applications are expected to hinder the ERP software market growth. On the contrary, increase in demand for ERP among small & medium enterprises and technological advancements in ERP are expected to provide lucrative opportunities for the market growth in the coming years.
The ERP software market is segmented on the basis of component, deployment model, business function, industry vertical, end user, and region. On the basis of component, the market is bifurcated into software and service. Based on deployment model, the market is categorized into on-premise, cloud, and hybrid. Depending on business function, it is classified into finance, human resource (HR), supply chain, customer management, inventory management, manufacturing module, and others. As per end user, it is divided into large enterprises, medium enterprises, and small enterprises. By industry vertical, it is segregated into manufacturing, BFSI, healthcare, retail & distribution, government & utilities, it & telecom, construction, aerospace and defense, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.The market players operating in the ERP software market include SAP SE, Oracle Corporation, Sage Software Solutions Pvt. Ltd., Workday, Inc., Infor, Epicor Software Corporation, SYSPRO , Microsoft Corporation, IFS, and Deskera.
KEY BENEFITS FOR STAKEHOLDERS
The study provides an in-depth analysis of the ERP software market and current & future trends to elucidate the imminent investment pockets.
Information about key drivers, restraints, and opportunities and their impact analyses on the market is provided.
Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in the ERP software industry.
The quantitative analysis of the market from 2018 to 2026 is provided to determine the market potential.
KEY MARKET SEGMENTS
BY DEPLOYMENT MODEL
BY BUSINESS FUNCTION
Human Resource (HR)
BY END USER
BY INDUSTRY VERTICAL
Retail & Distribution
Government & Utilities
IT & Telecom
Aerospace and Defense
Rest of Europe
Rest of Asia-Pacific
KEY MARKET PLAYERS
Sage Software Solutions Pvt. Ltd.
Epicor Software Corporation
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