Enterprise Resource Planning (ERP) Software Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Enterprise Resource Planning (ERP) Software Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of ERP Software Market

The ERP software market size was valued at USD 71.41 billion in 2023, and the market is now projected to grow from USD 81.15 billion in 2024 to USD 238.79 billion by 2032, exhibiting a CAGR of 14.4 % during the forecast period of 2023-2030.

The pandemic had a considerable impact on the market. Now, with remote work likely to become the new normal, companies hurry to adapt their ERP (enterprise resource planning) into a tool that would help them to ensure smooth operations, make the collaboration easier, monitor the progress, and other activities to maintain operations. Demand for cloud-based ERP systems tremendously increased. These systems offered features like flexibility and scalability for the purpose of adaptation of highly varying business conditions. In general, hospitals and factories both gave priority to their ERP implementations by improving their supply chain management systems and the amount of resources each employee has access to in order to cope with the disruptions caused by the pandemic. The COVID-19 crisis looked like a magnifying glass of the significance of ERP in facilitating the journey through unforeseeable circumstances.

ERP software is the one that has spread among organizations promptly, mainly due to the realization by that the stuff can be highly beneficial to companies. To get the maximum result with cyber intelligence, route servers should be effective and interconnected with cyber-intelligence networks around the globe. Also, technological improvements, such as AI and ML, have equipped ERP software more, this have led to automatic, and real-time insights. These factors are driving the ERP software market growth.

Cloud-based ERP solutions do away with the need for huge investments in hardware and infrastructure that was the requirement for the traditional on-premises systems, enabling businesses to roll out the ERP installation more effectively and quickly with minimal disruption. Furthermore, cloud ERP will let the workers operate remotely and they will not face problems like accessing crucial business data and applications on the go or at any point of the time, as it is cloud based. The ERP software is expected to be very useful for businesses whose main purpose is to uplift digital transformation. Consequently, the growth outlook of ERP software is expected to become higher as the years go by, as a result of digital transformations.

Comprehensive Analysis of ERP Software Market

Segmentation is vital in the ERP software market, enabling vendors to customize solutions for various enterprise types, deployment methods, business functions, and end-user industries. By categorizing clients into Small & Medium Enterprises (SMEs) and Large Enterprises, ERP providers can tailor offerings to match different resource levels. Additionally, dividing options into Cloud & Hybrid or On-premise accommodates diverse deployment preferences. Further segmentation by business functions and end-user industries ensures that ERP solutions address specific operational needs and industry regulations effectively. This targeted approach allows vendors to deliver tailored solutions, maximizing value for their customers.

North America is dominating the position in the ERP software market, which is built on the achievements of business solutions which are more technologically advanced and aim at digital transformation. North America is the largest market for ERP vendors due to the presence of a big community of knowledge-driven enterprises. Therefore, North America has a strong demand for ERP solutions across different industries due to high availability of ERP and technology. Besides this, novelty and efficiency of the area also upturn epoch-making innovations in ERP software that would continue to upgrade to meet the needs of the growing number of businesses aspiring to explore cost saving and high-efficiency operational methods as tools for a competitive advantage in the global market.

The top players in the market play a crucial role in shaping the industry's growth trajectory and setting market standards. These players include: Oracle Corporation (U.S.), IBM Corporation (U.S.), SAP SE (Germany), Workday, Inc. (U.S.), Microsoft Corporation (U.S.), Sage Group plc (U.K.), Infor (U.S.), Deltek (U.S.), Acumatica, Inc. (U.S.), Epicor (U.S.)

In September 2023 another chapter of SAP Africa and Microsoft partnership was formed. This ERP software as a service solution, which is coupled with results-based implementation services, will be used for the migration of company’s core SAP ERP systems to cloud. Through the deployment of SAP’s cloud platforms using Microsoft cloud capabilities, RISE allows organizations to simplify their operations and to gain maximum advantage from cloud technologies.

Segmentation Table

ATTRIBUTE DETAILS

Study Period 2019-2032

Base Year 2023

Estimated Year 2024

Forecast Period 2024-2032

Historical Period 2019-2022

Growth Rate CAGR of 14.4% from 2024 to 2032

Unit Value (USD Billion)

Segmentation By Enterprise Type

Small & Medium Enterprises (SMEs)

Large Enterprises

By Deployment

Cloud & Hybrid

On-premise

By Business Function

Financial Management

Human Capital Management

Supply Chain Management

Customer Management

Inventory & Work Order Management

Others (Sourcing & Procurement)

By End-user

Manufacturing

BFSI

IT & Telecom

Retail & Consumer Goods

Healthcare & Life Sciences

Transportation & Logistics

Government

Others (Aerospace & Defense)

By Region

North America (By Enterprise Type, Deployment, Business Function, End-user, and Country)

U.S. (By Business Function)

Canada (By Business Function)

Mexico (By Business Function)

Europe (By Enterprise Type, Deployment, Business Function, End-user, and Country)

Germany (By Business Function)

U.K. (By Business Function)

Russia (By Business Function)

France (By Business Function)

Italy (By Business Function)

Spain (By Business Function)

Benelux (By Business Function)

Nordics (By Business Function)

Rest of Europe

Asia Pacific (By Enterprise Type, Deployment, Business Function, End-user, and Country)

China (By Business Function)

India (By Business Function)

Japan (By Business Function)

South Korea (By Business Function)

ASEAN (By Business Function)

Oceania (By Business Function)

Rest of Asia Pacific

Middle East & Africa (By Enterprise Type, Deployment, Business Function, End-user, and Country)

Turkey (By Business Function)

Israel (By Business Function)

GCC (By Business Function)

North Africa (By Business Function)

South Africa (By Business Function)

Rest of the Middle East & Africa

South America (By Enterprise Type, Deployment, Business Function, End-user, and Country)

Brazil (By Business Function)

Argentina (By Business Function)

Rest of South America