DUBLIN–(BUSINESS WIRE)–The “Global Enterprise Resource Planning Market – Growth, Trends, Impact of COVID-19, and Forecast (2021-2026)” report has been added to from ResearchAndMarkets.com offer.
Global Enterprise Resource Planning Market was valued at USD 39.11 Billion in 2020 and is projected to reach USD 61.97 Billion by 2026, registering a CAGR of 7.52% during the forecast period 2021- 2026.
SYSPRO (Pty) Ltd
Plex Systems Inc. (Rockwell Automation Inc.)
Infor Inc. (Koch Industries)
Epicor Software Corporation
The Sage Group PLC
Dassault Systemes SE
Main market trends
Cloud Deployments to Witness Highest Market Growth
Cloud-based ERP solutions are relatively cheaper and benefit both SMEs and large enterprises. Cloud-based ERP software is installed in remote vendor services instead of company hardware. Some of the solutions are provided on a service basis and are therefore also referred to as ERP SaaS solutions. SaaS ERPs incorporate a multi-tenant software architecture that allows multiple customers to use the same vendor-hosted software platform. Some of the benefits include faster deployment, lower upfront costs for software implementation, easy customization of single-tenant SaaS applications, easy setup and maintenance process, automatic data backup and disaster recovery , and finally, easy integration and migration.
Cloud ERPs are generally categorized into single-tenant and multi-tenant. In the first case, the solution is considered as a separate instance of ERP, used by a single company that does not have shared server space. Configuration gives customers greater control over the software and leaves more room for customization. In the case of multi-tenant solutions, a number of organizations use the same software platform and hardware where the vendor manages all updates and upgrades the ERP solutions to the latest versions which automatically provide access customers with the latest versions. Consequently, this reduces the burden on internal IT teams to ensure customers always have access to the most up-to-date and secure ERPs.
North America will hold a major market share
The rapid shift to cloud in the region is driving the growth of the cloud enterprise resource planning (ERP) market. According to Epicor Software’s 2021 Annual Report, 94% of essential midsize businesses in the United States are adopting the cloud in 2021, compared to 25% who said cloud was a strategic priority in 2020. Additionally, 94% believed that the cloud would help future-proof their businesses. Cloud ERP is one of the central investment strategies for manufacturers operating in the region. Adoption of an ERP warehouse management system (WMS), among others, is in line with cloud adoption.
According to a 2020 survey by NiceLabel, 21% of manufacturing CIOs suggested that their organization’s IT infrastructure was entirely cloud-based. Additionally, 80% of CIOs surveyed expect their organization to increase its investment in IT systems such as ERP, MES and WMS by more than 25% over the next three years.
Digital transformation in various end-user industries in the region is also driving the adoption of ERP solutions. In March 2021, Mountain Health Network (MHN), a West Virginia-based nonprofit healthcare system with nearly 700 beds in two teaching hospitals, announced the selection of Avaap, an Infor partner specializing in providing healthcare solutions. Additionally, MHN has partnered with Infor and the Chartis Group to drive digital transformation across its entire distribution system. The project links MHN’s Cerner EHR to Infor ERP for a single, integrated platform that will deliver real-time data to support decision-making, quality of patient care and affordability.
The need to provide personalized and relevant experiences to customers leads to ERP systems capable of meeting these needs with features such as highly customizable dashboards. According to a survey by Movable Ink’s Audience of One Report 2021, 61% of consumers suggested they were likely to purchase goods or services when a company created a personalized experience in its branded content. (n=1,000 US consumers).
Main topics covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET OVERVIEW
4.1 Market Overview
4.2 Industry Value Chain Analysis
4.3 Industry Attractiveness – Porter’s Five Forces Analysis
4.4 Assessment of the impact of COVID-19 on the industry
5 MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Increased adoption of ERP solutions for better management
5.1.2 Real-time data analysis
5.2 Market challenges
5.2.1 Difficulties of customization according to business needs
6 MARKET SEGMENTATION
6.1 By deployment
6.2 By End-User Industry
6.3 By size of organization
6.4 By geography
7 COMPETITIVE LANDSCAPE
7.1 Company Profiles
8 INVESTMENT ANALYSIS
9 FUTURE PERSPECTIVES
For more information on this report, visit https://www.researchandmarkets.com/r/yb8n8y