Pune, Jan. 28, 2025 (GLOBE NEWSWIRE) -- Enterprise Resource Planning Software Market Size Analysis:
“The SNS Insider report indicates that the Enterprise Resource Planning Software Market size was valued at USD 62.5 billion in 2023 and is expected to grow to USD 175.6 billion by 2032, expanding at a CAGR of 12.23% over the forecast period of 2024-2032.”
Rising Demand for ERP Software: Transforming Business Operations with Cloud, AI, and IoT Integration
With increasing businesses approaching a more efficient automated approach towards operations and decision-making, Enterprise Resource Planning has become one of the fastest-growing accessible software products. ERP systems consolidate multiple business functions, including finance, supply chain, human resources, and customer relationship management, into a single integrated platform. In an ever-evolving market where reducing costs, automating processes, and improving productivity have proven essential to keeping a competitive edge, integration has become one of the most important features for businesses. The increasing adoption of cloud-based solutions as well as the rise in ERP software demand can be attributed to a few factors. Cloud ERP provides the scalability, flexibility, and cost-effectiveness that makes it appealing to all types of organizations including SMEs and large enterprises. Also, the transition to real-time data analytics is driven by businesses to integrate ERP systems with emerging technologies such as Artificial Intelligence and the Internet of Things. Furthermore, this integration furthers data-driven decision-making and thus enables companies to respond effectively to market changes.
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Major Players Analysis Listed in this Report are:
- Epicor Software Corporation (Epicor ERP, Prophet 21)
- Hewlett-Packard Development Company, L.P (HP Adaptive Management, HP Project Portfolio Management)
- Infor Inc. (Infor CloudSuite, Infor M3)
- IBM Corporation (IBM Cognos Analytics, IBM Maximo)
- Microsoft Corporation (Microsoft Dynamics 365, Microsoft Power BI)
- NetSuite Inc. (NetSuite ERP, NetSuite CRM+)
- Oracle Corporation (Oracle NetSuite, Oracle Fusion Cloud ERP)
- Sage Group plc (Sage Intacct, Sage 300cloud)
- SAP SE (SAP S/4HANA, SAP Business ByDesign)
- Unit4 (Unit4 ERP, Unit4 Financial Planning & Analysis)
- Workday Inc. (Workday Financial Management, Workday Human Capital Management)
- Deltek (Deltek Costpoint, Deltek Vantagepoint)
- QAD Inc. (QAD Adaptive ERP, QAD Cloud ERP)
- IFS AB (IFS Cloud, IFS Applications)
- Acumatica (Acumatica Cloud ERP, Acumatica Construction Edition)
- Syspro (SYSPRO ERP, SYSPRO Avanti)
- Tally Solutions Pvt Ltd (TallyPrime, Tally ERP 9)
- Odoo SA (Odoo ERP, Odoo CRM)
- Priority Software (Priority ERP, Priority Zoom)
- Ramco Systems (Ramco ERP Suite, Ramco Global Payroll)
- abas Software GmbH (abas ERP, abas Distribution)
- Plex Systems Inc. (Plex Smart Manufacturing Platform, Plex ERP)
Enterprise Resource Planning Software Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | USD 62.49 Billion |
| Market Size by 2032 | USD 175.63 Billion |
| CAGR | CAGR of 12.23% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Key Regional Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe [Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]). Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
| Key Growth Drivers | • The Rise of Data-Driven Decision Making as a Key Driver for ERP Software Market Growth • Integration with Emerging Technologies Fueling ERP Software Market Growth |
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Enterprise Resource Planning Software Market: On-Premise Leads in 2023, Cloud Segment Set for Rapid Growth by Deployment
The segment of enterprise resource planning software on-premise accounted for the largest revenue share of nearly 58% in 2023, owing to the need of enterprises to have total control over the infrastructure and data. On-premise solutions offer improved security, flexibility, and compliance, making them especially appealing to large enterprises subject to heavy regulatory obligations.
The cloud segment is projected to witness the highest CAGR of 13.39% during 2024-2032. Such is the need for agility and operational efficiency that cloud-based ERP systems provide, with combined scalability, lower initial costs, and shorter implementation schedules. Rising demand for remote work, the need for real-time collaboration, as well as less dependence on IT are some of the prominent factors spurring the rapid growth of the cloud ERP segment.
Enterprise Resource Planning Software Market: Large Enterprises Dominate in 2023, SMEs Set for Rapid Growth by Enterprise Size
The big enterprise segment accounted for around 67% of revenue share of the enterprise resource planning software market in 2023. This is mainly because they have a massive requirement for integrated systems to coordinate complex operations, huge data sets, and large-scale resources.
The small and medium enterprises segment is estimated to witness the fastest CAGR of 14.14% during the forecast period from 2024 to 2032. The rise of the cloud is boosting this growth with the increase in the availability of inexpensive cloud-based ERP tech that provides scalability, speedier implementation, and lower initial costs for SMEs.
Enterprise Resource Planning Software Market: Finance Leads in 2023, HR Segment Set for Rapid Growth by Function
The finance segment held the largest share of revenue about 33% of the enterprise resource planning software market in 2023. We can all most likely attribute this phenomenon to financial management being the backbone for companies big & small. ERP systems offer an end-to-end set of tools for budgeting, accounting, reporting, and compliance to help organizations achieve financial automation and accuracy.
The fastest CAGR for the HR segment of 14.51% is expected between 2024 and 2032. The demand for workforce management optimization, employee engagement, and talent management is driving this growth.
Enterprise Resource Planning Software Market Segmentation:
By Deployment
- On-premise
- Cloud
By Function
- Finance
- HR
- Supply Chain
- Others
By Enterprise Size
- Small & Medium Enterprises
- Large Enterprises
By Vertical
- Manufacturing & Services
- BFSI
- Healthcare
- Retail
- Government
- Aerospace & Defense
- Telecom
- Others
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Enterprise Resource Planning Software Market: North America Dominates, Asia Pacific Set for Rapid Growth by Region
In 2023, North America led the enterprise resource planning software market, holding the highest revenue share of approximately 39%. The region's dominance can be attributed to the presence of many established enterprises across various industries, such as manufacturing, finance, and retail, which rely heavily on ERP systems for operational efficiency and scalability.
The Asia Pacific region is expected to grow the fastest CAGR of 14.85% from 2024 to 2032. The rapid industrialization and digitalization efforts across key economies such as China, India, and Japan drive this growth. As businesses in the region seek to enhance operational efficiency, streamline supply chains, and manage resources effectively, the demand for ERP systems is soaring.
March and February 2024: SAP and Oracle Unveil New ERP Solutions with AI and Cloud Features for Enhanced Business Efficiency
March 2024: SAP announced the launch of its new cloud-based ERP solution tailored for small and medium-sized businesses, offering enhanced scalability and real-time analytics.
February 2024: Oracle introduced new AI-driven features in its ERP suite to help businesses automate routine tasks and improve financial forecasting accuracy.
Table of Contents – Major Key Points
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
6. Competitive Landscape
7. Enterprise Resource Planning Software Market Segmentation, By Deployment
8. Enterprise Resource Planning Software Market Segmentation, By Function
9. Enterprise Resource Planning Software Market Segmentation, By Enterprise Size
10. Enterprise Resource Planning Software Market Segmentation, By Vertical
11. Regional Analysis
12. Company Profiles
13. Use Cases and Best Practices
14. Conclusion
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