The global enterprise resource planning (ERP) market is estimated to register a CAGR of 7.09% during the projected period, 2020-2028. The increasing need for operational efficiency, growing focus on competitive strategies, and increasing adoption of cloud based ERP solutions, are among the factors that boost the market growth.
It becomes important for an organization to incorporate a customer-centric approach in order to augment its business operations. Enterprise applications are utilized in business organizations to resolve operational issues. Enterprise resource planning (ERP) is a modular software system that integrates the functional areas of business processes into a unified system. One of the important uses of the ERP system is its ability to handle all the processes related to business management. It also helps in improving business processes. It entails a comprehensive and innovative management platform. It caters to the requirements of the clients through the combination of technical and management capability. The growing market of IoT connected devices is set to result in huge market growth opportunities for ERP. However, the high costs involved in the process, hinder the market growth.
The global market of ERP is geographically segregated into the market regions of North America, Europe, Asia Pacific, and the rest of the world, for further market analysis. The North American market region garnered the largest market share in 2019. This is attributed to the highest adoption rate of technologies like mobility, IoT, big data, cloud, digital transformation, etc. along with the technological advancements of the market region. The Asia Pacific market region is slated to record the highest CAGR during the forecasted period. The market region has the benefit of the presence of major service providers such as HP Enterprise Company, Microsoft Corporation, Oracle Corporation, SAP SE, etc. coupled with the potential of the emerging markets.
The increasing market growth opportunities have resulted in the emergence of renowned and upcoming make players. Some of the eminent companies in the market include, Epicor Software Corporation, Industrial and Financial Systems, IFS AB, Infor Inc., Deskera Holdings Ltd., Iqms (Acquired by Dassault Systemes), International Business Machines Corporation (IBM), etc.
Our report offerings include:
- Explore key findings of the overall market
- Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
- Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
- Market Segmentation cater to a thorough assessment of key segments with their market estimations
- Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
- Key analytics: Porter’s Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
- Competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
- Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments