The North America Enterprise Resource Planning Market size is estimated at USD 20.30 billion in 2024, and is expected to reach USD 31.98 billion by 2029, growing at a CAGR of 9.51% during the forecast period (2024-2029).
The ERP software market is expected to grow the most in the United States because more cloud-based and hybrid ERP systems are being used to improve operational efficiency.
The pandemic scenario significantly impacted the expansion of the US ERP market in recent years. Further growth was anticipated as a result of the expanding use of ERP in the healthcare sector and businesses offering healthcare-related goods and services. Cloud-based services were successfully used by numerous healthcare organizations to create a reliable system that controlled patient counts, handled requests for pharmaceutical and therapeutic items, and distributed vaccines across international borders.
The rapid shift to the cloud in the region drives the market growth for cloud enterprise resource planning (ERP). According to Epicor Software's Annual Insights Report last year, 94% of mid-sized essential businesses in the United States are adopting the cloud, up from the 25% that declared the cloud a strategic priority in 2020. In addition, 94% believed the cloud would help future-proof their businesses.
Spiceworks reports that respondents from North America and Europe predicted that productivity solutions would receive 13% of their company's IT budget by the end of last year for cloud-based and hosted services.
AI is being used to help in all these enterprise data processing areas. AI assists with the up-front heavy lifting needed in any system to create the correct data. Conversational bots let users talk or text with a system to generate orders, enter expense reports, update job status, confirm a product receipt in the warehouse, and perform other tasks. These bots can perform virtually any task that previously required a user to pull up a screen and key the data into the system.
The competitive landscape of the North America Enterprise Resource Planning Market is highly fragmented, with major vendors available regionally and holding the majority of the market share. The market players are increasingly making significant investments in new product launches while making various innovations to existing products. This will help them gain maximum market traction, as the market is continuously evolving due to emerging trends.
In August 2022, the Epicor Virtual Agent (EVA), a virtual assistant created to aid users in doing their jobs more effectively, was unveiled by Epicor Software Corp., a manufacturer of enterprise resource planning (ERP) software for manufacturing and distribution. EVA is a virtual assistant that can also do much more owing to its integrated artificial intelligence (AI), which is intended to make it easier to communicate with ERP systems and automate processes to speed up business processes. EVA turns data into visual information, combining cognitive abilities like text and speech to create a natural user experience for operations on native devices.
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