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Global Enterprise Resource Planning (ERP) Software Market to Grow at a CAGR of 8% over the Forecast Period of 2021-2026.

According to a new report by EMR titled, ‘Global Enterprise Resource Planning (ERP) Software Market Report and Forecast 2021-2026’, the global enterprise resource planning (ERP) software market stood at USD 37.8 billion in 2020. The market is projected to grow at a CAGR of 8% between 2021 and 2026 to reach USD 60 billion by 2026.

The global enterprise resource planning (ERP) software market is being driven by its growing demand in organisations to enhance business process management and reduce the operational cost. The overall industry is receiving a boost due to the high demand for ERP software in regions like the Asia Pacific and Latin America. Due to the increased penetration of advanced technology and gadgets in regions such as North America, Europe, and Japan, they have emerged as the high growth markets for the ERP software industry. The growing inclination towards cloud-based ERP software by leading industries, owing to its low cost and easy accessibility even via the Cloud and mobile devices, is leaving a positive impact on the overall industry, which is expected to further increase the product demand in the future.

With the rapid development of user-friendly ERP software interfaces and advanced features, its demand is increasing, further aiding the overall industry. In October 2020, Microsoft Corporation (NASDAQ: MSFT) and SAP SE (NYSE: SAP), the leading players in the industry announced an extensive go-to-market partnership to accelerate customer adoption of SAP S/4HANA® and SAP® Cloud Platform on Microsoft Azure, aiming to migrate SAP ERP and SAP S/4HANA customers from on-premises to public Cloud alongside the sale of Azure. Further, to improve business efficiency and achieve reduced operational costs, the various sectors are adopting the latest technologies, providing a boost to the global ERP software industry. The higher education industry is rapidly evolving, moving from conventional to latest technologies. In October 2020, Oracle Corporation (NYSE: ORCL), a key player in the industry, announced that the top universities across the U.S., namely, DePaul University and Ithaca College are adopting Oracle’s ERP Cloud, along with EPM Cloud and HCM Cloud, aiming to adopt a modern system, cut costs, and streamline operations, further improving student outcomes. Such developments are expected to further aid the industry over the forecast period.

Market Breakup by Deployment Type, Application, End Use, and Region:

  • The major deployment types in the global enterprise resource planning (ERP) software market is bifurcated into SaaS and Cloud and on premise.
  • On the basis of application, the market is divided into textile apparel, agriculture and FMCG, engineering, manufacturing, pharmaceuticals, automobile, and construction.
  • Based on end use, the ERP software industry is categorised into manufacturing, BFSI, telecom, government, healthcare, retail, and aerospace and defence, among others.
  • Region-wise, the global ERP software market can be divided into North America, the Asia Pacific, Europe, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The global enterprise resource planning (ERP) software market is being driven by the growing demand for easy integration and management of all the required information in an organisation to achieve overall competency in business. 
  • The rising demand for convenient, time-saving, and cost-efficient solutions is further supporting the growth of the industry. 
  • The increasing popularity of cloud-based technology, as well as SaaS, along with its adoption in various sectors, is providing further impetus to the industry.
  • The growing urbanisation and the rising disposable incomes, leading to the increased penetration of smartphones and computers in both developed and developing nations, are propelling the industry forward.

Key Offerings of the Report:

  • The EMR report gives a detailed overview of the global ERP software market, providing the market breakup by deployment types, applications, end-uses, and regional markets for the periods (2016-2020) and (2021-2026). 
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global enterprise resource planning (ERP) software market are Sage Group plc, Chetu Inc., Oracle Corporation, Pegasystems Inc., Infor, Microsoft Corporation, and SAP SE, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

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