Enterprise Resource Planning (ERP) Market Size is Expected to Reach USD 60230 Million by 2026

BANGALORE, India, September 10, 2020 /PRNewswire/ — Major factors driving the growth in ERP market size are increased adoption of ERP software to improve organizational accountability and operational performance, increased demand for data-driven decision-making and increased adoption of cloud and mobile apps.

The ERP Market report focuses on the growth prospects, restraints, and opportunities for the industry. The study provides Porter’s Five Forces Analysis on the ERP industry to understand the impact of various factors such as the bargaining power of vendors, the competitive intensity of competitors and the threat of new entrants.

The Global Enterprise Resource Planning Market Size is Expected to Reach $60230 million by 2026, $43,440 million in 2020, at a CAGR of 5.6% over the period 2021-2026.

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TRENDS INFLUENCING ERP MARKET SIZE

The increase in the need for operational efficiency and transparency in business processes is driving the growth in the ERP market size.

An increase in the adoption of cloud and mobile applications is expected to increase the growth of the ERP market size. Cloud-based systems reduce business IT costs. This is the main reason why companies are rapidly adopting cloud-based technology. As mobile devices have become an integral part of the work culture, companies are investing in cloud-connected mobile apps because they provide access to information anytime, anywhere.

Traditional ERP technology has been applied for several decades, but increased adoption of advanced technologies such as IoT, AI, and big data analytics has led to growth in ERP market size. The growing technological advancements are expected to generate numerous opportunities for the ERP market in Asia Pacific countries, such as India, China, Australiaand Singapore.

Additionally, growing demand for ERP among small and medium enterprises is propelling the ERP market size.

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ERP MARKET SHARE ANALYSIS

North America is expected to hold the largest ERP market share during the forecast period. This dominance of ERP is attributed to the penetration of new industries, growing economies and new emerging markets. Moreover, businesses in this region are shifting from on-premises ERP applications to cloud applications due to its low cost deployment and maintenance. The emergence of a large number of cloud ERP solution providers across United States and Canada should offer lucrative business opportunities.

Asia Pacific is expected to witness the highest growth rate during the forecast period. This rapid growth is due to the strong presence of small and medium enterprises that are turning to hosting ERP solutions to efficiently manage their business processes, especially in developing countries such as China, Indiaand Singapore.

Based on regional analysis:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East
  • Africa

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ERP MARKET SEGMENTATION

ERP Breakdown Data by Type

  • On-premises ERP
  • Cloud-based ERP

ERP Breakdown Data by Application

  • Manufacturing
  • BFSI
  • Health care
  • Aerospace and Defense
  • Telecom
  • Others

Key companies:

  • SAP
  • Oracle
  • sage
  • Information
  • Microsoft
  • Chronos
  • Epicor
  • IBM
  • Totvs
  • Working day
  • UNIT 4
  • YonYou
  • corner stone
  • Kingdee
  • Digiwin.

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SIMILAR REPORTS

In 2018, the global cloud-based ERP market size was $14,700 million and it is expected to reach $40,500 million by the end of 2025.

View full report: https://reports.valuates.com/market-reports/QYRE-Auto-16C2741/covid-19-impact-on-cloud-based-enterprise-resource-planning-erp

The global ERP for schools market size is expected to reach $18,330 million by 2026, $10820 million in 2020, at a CAGR of 9.2% over the period 2021-2026.

View full report: https://reports.valuates.com/market-reports/QYRE-Auto-9K2427/global-school-erp

View full report: https://reports.valuates.com/market-reports/QYRE-Auto-11L2855/covid-19-impact-on-saas-based-enterprise-resource-planning

View full report: https://reports.valuates.com/market-reports/QYRE-Auto-21A2224/global-education-enterprise-resource-planning-erp-software

  • Integrated ERP Systems Market

View full report: https://reports.valuates.com/market-reports/QYRE-Othe-0I310/integrated-enterprise-resource-planning-system

  • Education ERP Software Market

View full report: https://reports.valuates.com/market-reports/360I-Auto-6I144/the-global-education-enterprise-resource-planning-software

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