The global enterprise resource planning (ERP) market grew at a CAGR of around 8% during 2014-2019. The enterprise resource planning (ERP) platform shares a standard process and data model that assists in integrating different administrative and operational business processes into a unified system. It manages core end-to-end real-time business activities, such as finance, accounting, procurement, order management, supply chain operations, and risk management and compliance. Consequently, it improves efficiency, lowers risks, fosters collaboration and enhances supply chain management. Nowadays, several companies are offering cloud-based ERP solutions as they help organizations minimize both operational and capital expenses.
The increasing digitization of business processes represents one of the key factors escalating the demand for ERP solutions to automate tasks and streamline information in various departments. Additionally, it integrates financial processes, synchronizes human resource management, supports services, provides managers with powerful analytics from various construction processes and assists in effectively managing the full lifecycle of a project. As a result, it is employed in the banking, financial services and insurance (BFSI) sector worldwide. Apart from this, it finds application in the healthcare industry as it minimizes clinical errors, helps provide better patient care, and monitors clinical and administrative costs. Moreover, rising construction activities are further bolstering the market growth. Furthermore, due to the coronavirus disease (COVID-19) outbreak and consequent lockdowns imposed by governments of several countries, there is a rise in the adoption of remote working models and e-commerce channels. This is driving the demand for cloud-based ERP solutions to remotely manage complex systems, increase security, meet compliance standards and access data in real-time. Looking forward, IMARC Group expects the global enterprise resource planning (ERP) market to exhibit strong growth during the next five years.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global enterprise resource planning (ERP) market report, along with forecasts for growth at the global, regional and country level from 2020-2025. Our report has categorized the market based on region, component, business segment, deployment type, organization size and vertical.
Breakup by Component:
Breakup by Business Segment:
Sales and Marketing
Finance and Accounting
Breakup by Deployment Type:
Breakup by Organization Size:
Small and Medium-Sized Organizations
Breakup by Vertical:
Breakup by Region:
Middle East and Africa
The report has also analysed the competitive landscape of the market with some of the key players being Epicor Software Corporation (KKR & Co. Inc.), International Business Machines Corporation, Kronos Incorporated (Hellman & Friedman LLC), Microsoft Corporation, Oracle Corporation, SAP SE, The Sage Group Plc, TOTVS S.A, Unit4 (Advent International), Workday Inc. and Yonyou Network Technology Co. Ltd.
Key questions answered in this report:
How has the global enterprise resource planning (ERP) market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global enterprise resource planning (ERP) market?
What are the key regional markets?
What is the breakup of the market based on the component?
What is the breakup of the market based on the business segment?
What is the breakup of the market based on the deployment type?
What is the breakup of the market based on the organization size?
What is the breakup of the market based on the vertical?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global enterprise resource planning (ERP) market and who are the key players?
What is the degree of competition in the industry?