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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:
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The major players in the global enterprise resource planning (ERP) software market are Sage, Microsoft Corp., Oracle Corporation, SAP, Pegasystems Inc., and Infor, 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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