Portland, OR, March 08, 2022 (GLOBE NEWSWIRE) — According to the report released by Allied Market Research, the ERP market generated $43.72 billion in 2020 and is expected to reach $117.09 billion by 2030, growing at a CAGR of 10.0% from 2021 to 2030. The report offers a detailed analysis of the changing trends in the market, value chain, major segments, key investment pockets, regional scenarios, and competitive landscape.
Rising need for operational efficiency and transparency in business processes, rising adoption of cloud and mobile applications, and rising demand for ERP software from small and medium-sized businesses are driving growth of the global enterprise resource planning market. On the other hand, the high cost of implementing ERP software technology and the availability of open source ERP applications are hampering the growth of the market. However, the rapid transformation of modern business models and the increase in the application of ERP solutions in small and medium enterprises are expected to pave the way for multiple opportunities in the coming years.
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- The enterprise resource planning market has had a positive impact due to the Covid-19 outbreak. There has been an increase in the demand for cloud-based ERP software in the market to support the disruption of business operations. ERP software has helped organizations continue operations smoothly and efficiently while working remotely.
- Factors such as increasing demand for cloud-hosted or managed ERP solutions, increasing trend of digital transformation in enterprises, and increasing challenges caused by supply chain disruptions in manufacturing sector have improved the demand in the global ERP software market during the pandemic.
- Additionally, in the post-pandemic era, companies will focus on technologies that will facilitate preparedness and limit the impact of such disasters in the future. This is expected to increase the demand for ERP solutions in the coming years.
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The report offers a detailed segmentation of the global enterprise resource planning market on the basis of component, deployment model, company size, industry vertical, and region.
By component, the software segment contributed the highest share in 2020, accounting for nearly three-fifths of the total ERP market share, and is expected to maintain its lead during the forecast period. However, the services segment is expected to experience the fastest CAGR of 10.7% from 2021 to 2030.
By deployment model, the on-premises segment accounted for the largest market share, contributing nearly half of the global market enterprise resource planning market in 2020. However, the cloud segment is expected to exhibit the largest CAGR of 11.6% from 2021 to 2030. The report also includes an analysis of the hybrid model segment.
By region, North America held the highest share in 2020, contributing more than a third of the total market. However, the Asia-Pacific region is expected to witness the fastest CAGR of 11.9% during the forecast period. The report also includes market analysis across Europe and LAMEA.
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Key players of the global ERP market analyzed in the research include NetSuite Inc., Infor, Sage Group Plc., Unit4, Oracle Corporation, Syspro, IBM Corporation, Microsoft Corporation, SAP SE and TOTVS SA.
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Allied Market Research (AMR) is a full-service market research and business consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global corporations as well as small and medium enterprises with unrivaled quality of “market research reports” and “Business Intelligence solutions”. AMR has a focused vision to provide business insights and advice to help its clients make strategic business decisions and achieve sustainable growth in their respective market area.
Pawan Kumar, CEO of Allied Market Research, directs the organization towards the provision of high quality data and information. We maintain professional relationships with various companies which helps us to extract market data which helps us to generate accurate research data tables and confirm the utmost accuracy of our market predictions. All data presented in the reports we publish are drawn from primary interviews with senior managers of large companies in the relevant field. Our secondary data sourcing methodology includes extensive online and offline research and discussions with knowledgeable industry professionals and analysts.