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The global ERP market size was valued at USD 16.3 billion in 2023 and is projected to reach USD 40.6 billion by 2033, growing at a CAGR of 9.4% from 2024 to 2033.
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Driving Factors
Rise in need for operational efficiency & transparency in business processes and increase in demand for cloud-based solutions are expected to propel the growth of the global enterprise resource planning (ERP) market. However, high investment and maintenance costs is anticipated to hamper the growth of the global market. On the contrary, increase in demand for ERP among small and medium enterprises and technological advancement in ERP are likely to create lucrative opportunities for the growth of the global market.
Market Segmentation
The enterprise resource planning (ERP) market is segmented on the basis of component, deployment model, enterprise size, business function, industry vertical, and region. On the basis of component, the market is bifurcated into software and service. By deployment model, the market is categorized into on-premise, cloud, and hybrid. As per enterprise size, it is divided into large enterprises and small and medium-sized enterprises. Depending on business function, it is classified into finance, human resource (HR), supply chain, customer management, inventory management, manufacturing module, and others. By industry vertical, it is segregated into manufacturing, BFSI, healthcare, retail & distribution, government & utilities, IT & telecom, construction, aerospace and defense, and others. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Competition Analysis:
The report analyzes the profiles of key players operating in the ERP industry such as SAP SE, Infor Inc., Oracle Corporation, Microsoft Corporation, Sage Software Solutions Pvt Ltd., SYSPRO, Unit4, IFS, Workday Inc., Acumatica, Inc., QAD Inc., Deltek, Inc., Priority Software, Ramco Systems Ltd., Odoo SA, Intact (Aptech Business Systems Ltd.), Epicor Software Corporation, Tally Solutions Private Limited, Zoho Corporation and MYOB Australia Pty Ltd.. These players have adopted various strategies to increase their market penetration and strengthen their position in the enterprise resource planning market.
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North America region to maintain its dominance by 2033
By region, North America held the highest market share in terms of revenue in 2023, owing to advanced technological infrastructure, high adoption rate of digital transformation initiatives, and the presence of numerous large enterprises across various industries in the region. However, LAMEA is projected to attain the highest CAGR of 11.8% from 2023 to 2033, owing to the region’s increasing focus on digital transformation, growing adoption of cloud-based ERP solutions, and rise in need for efficient business management systems.
The software segment to maintain its lead position during the forecast period
By component, the software segment held the highest market share in 2023, accounting for nearly two-thirds of the enterprise resource planning (ERP) market revenue and is estimated to maintain its leadership status during the forecast period, owing to advancements in cloud-based ERP solutions, which provide scalability, accessibility, and cost-effectiveness, making them highly attractive to businesses of all sizes, which propel the overall segment growth. However, the services segment is expected to attain the largest CAGR of 10.5% from 2023 to 2033 and is projected to maintain its lead position during the forecast period, owing to increase in adoption of Software-as-a-Service (SaaS) ERP platforms hosted in the cloud, which offer scalability, flexibility, and reduced upfront costs as compared to traditional on-premises deployments.
The on-premises segment to maintain its lead position during the forecast period
By deployment model, the on-premises segment accounted for the largest share in 2023, contributing for more than two-fifths of the enterprise resource planning (ERP) market revenue, owing to its strong appeal among organizations requiring enhanced control, data security, and customization, which is further expected to propel the overall market growth. However, the hybrid segment is expected to attain the largest CAGR of 12.3% from 2023 to 2033 and is projected to maintain its lead position during the forecast period, owing to its ability to combine the advantages of both on-premises and cloud-based ERP solutions.
The large enterprises segment to maintain its lead position during the forecast period
By end user, the large enterprises segment accounted for the largest share in 2023, contributing for more than half of the enterprise resource planning (ERP) market revenue, owing to their extensive operational needs, large-scale data management, and the complexity of their business processes. However, the small and medium-sized enterprises segment is expected to attain the largest CAGR of 10.7% from 2023 to 2033 and is projected to maintain its lead position during the forecast period, owing to the increasing adoption of affordable, scalable ERP solutions tailored to meet the unique needs of small and medium-sized enterprises (SMEs).
The finance segment to maintain its lead position during the forecast period
By business function, the finance segment accounted for the largest share in 2023, contributing for nearly one-fifth of the enterprise resource planning (ERP) market revenue, owing to its critical role in managing financial operations, ensuring regulatory compliance, and providing real-time financial insights. However, the customer management segment is expected to attain the largest CAGR of 12.7% from 2023 to 2033 and is projected to maintain its lead position during the forecast period, owing to the rise of data analytics, AI, and machine learning within ERP systems, empowered organizations to gain deeper insights into customer behavior, personalize interactions, and predict customer needs more accurately.
The retail and distribution segment to maintain its lead position during the forecast period
By industry vertical, the retail and distribution segment accounted for the largest share in 2023, contributing for more than half of the enterprise resource planning (ERP) market revenue, owing to the need for streamlined operations, inventory management, and real-time data analysis to meet the demands for a fast-paced, customer-driven market. However, the healthcare segment is expected to attain the largest CAGR of 12.6% from 2023 to 2033 and is projected to maintain its lead position during the forecast period, owing to rise in need for efficient management of healthcare operations, patient data, and regulatory compliance.
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Recent Product Launch in the ERP Industry:
● In October 2024, Sage acquired Anvyl to enhance supply chain technology solutions. The acquisition will allow Sage to deliver a cost-effective Supply Chain Execution (SCE) solution that provides SMBs with complete visibility across their entire supply chains
● In March 2023, SYSPRO, a global provider of industry-built ERP software for manufacturers and distributors, announced new capabilities to its latest ERP release with enriched functionality for improved internal and organizational controls, a connected supply chain, deeper business intelligence and digital dexterity.
● In January 2023, Unit4 launched Unit4 Marketplace, a new platform where its independent software vendor, reseller, and service partners can showcase their innovative, bespoke industry and vertical Apps that link to Unit4’s ERP solutions.
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