ERP Software Global Market Report 2024

Description

“ERP Software Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on ERP software market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
Measure the impact of high global inflation on market growth.
Create regional and country strategies on the basis of local data and analysis.
Identify growth segments for investment.
Outperform competitors using forecast data and the drivers and trends shaping the market.
Understand customers based on the latest market shares.
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Report will be updated with the latest data and delivered to you within 3-5 working days of order along with an Excel data sheet for easy data extraction and analysis.
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Where is the largest and fastest growing market for ERP software? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The ERP software market global report ” from The Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

Scope

Markets Covered:

1) By Function: Finance; HR; Supply Chain; Other Functions
2) By Deployment: On Premise ERP; Cloud ERP
3) By Vertical: Manufacturing and Services; BFSI; Healthcare; Retail; Government Utilities; Aerospace & Defense; Telecom; Other Verticals
Companies Mentioned: SAP SE; Oracle Corporation; Microsoft Corporation; Epicor Software Corporation; Infor
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

Enterprise resource planning (ERP) refers to software that organizations employ to efficiently manage their day-to-day business operations, encompassing activities like procurement, accounting, project management, risk management, compliance, and supply chain operations.

The primary functional types of ERP software include finance, human resources (HR), supply chain management, and other miscellaneous functions. The ERP finance module, for instance, is a vital component of ERP systems, focusing on essential accounting and financial management functions within an organization. ERP software can be deployed in various ways, including as on-premises ERP or cloud-based ERP, depending on the specific needs and preferences of the organization. These ERP solutions find application across a range of industry verticals, including manufacturing, services, banking, financial services and insurance (BFSI), healthcare, retail, government utilities, aerospace and defense, telecommunications, and various other sectors.

The ERP software market research report is one of a series of new reports from The Business Research Company that provides ERP software market statistics, including ERP software industry global market size, regional shares, competitors with an ERP software market share, detailed ERP software market segments, market trends and opportunities, and any further data you may need to thrive in the ERP software industry. This ERP software market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The erp software market size has grown rapidly in recent years. It will grow from $182.22 billion in 2023 to $202.69 billion in 2024 at a compound annual growth rate (CAGR) of 11.2%. The growth observed during the historical period can be attributed to several factors, including the drive for business process optimization, the necessity for integrating various business functions and processes, the replacement of legacy systems with more advanced ERP solutions, the importance of regulatory compliance, and the expansion of businesses on a global scale. These factors have contributed to the adoption and growth of enterprise resource planning (ERP) software, as organizations sought to streamline their operations and meet the demands of a rapidly changing business landscape.

The erp software market size is expected to see rapid growth in the next few years. It will grow to $311.4 billion in 2028 at a compound annual growth rate (CAGR) of 11.3%.

The anticipated growth in the forecast period can be attributed to several factors, including the increased adoption of cloud ERP solutions, the ongoing trend of digital transformation within organizations, the rising importance of mobile and remote work capabilities, the integration of artificial intelligence (AI) and automation into ERP systems, and the emphasis on user-friendly interfaces for enhanced usability. Prominent trends in the forecast period encompass the continued adoption of cloud ERP solutions, the development of mobile ERP applications to cater to a more mobile and connected workforce, the integration of Internet of Things (IoT) capabilities into ERP systems to enable data-driven decision-making, the popularity of Software as a Service (SaaS) ERP solutions, and the exploration of blockchain integration to enhance data security and transparency in ERP operations. These trends are expected to drive growth in the ERP software market.

The enterprise resource planning (ERP) software market is poised for growth, primarily driven by the booming e-commerce industry. E-commerce, the electronic buying and selling of products and services online, has seen a significant uptick in demand. ERP software plays a pivotal role by providing real-time data and updates to customers, enhancing their experience and reducing potential frustrations. For example, data from the United States Census Bureau reveals that e-commerce sales accounted for 15.4% of total U.S. sales in the second quarter of 2023, with total retail e-commerce sales estimated at $269.5 billion, marking a 6.6% increase from the first quarter of 2023. This surge in the e-commerce sector is a key driver behind the growth of the ERP software market.

The growing need for improved efficiency and transparency in business operations further contributes to the growth of the enterprise resource planning software market. ERP systems enable the integration of vast amounts of data across various departments, facilitating seamless information flow throughout organizations. The adoption of cloud-based technologies for real-time data storage and access, analytical reporting for informed decision-making, and compliance with industry-standard processes embedded in the software all contribute to market expansion. An illustrative example is Annabelle Candy, which utilized Syspro's ERP software for manufacturing and distribution, helping the company expand its marketing reach and streamline progress tracking.

The rising number of cyberattacks poses a challenge to companies operating in the ERP software market. These attacks, including compromises and distributed denial of service (DDoS) attacks, disrupt business operations. ERP applications like SAP and Oracle are especially vulnerable, with over 9,000 security vulnerabilities combined, as reported by ERP cybersecurity and compliance firm Onapsis. These vulnerabilities threaten the growth of companies within the ERP software market.

A noteworthy trend in the ERP software market is the integration of blockchain technology with ERP systems. Blockchain, characterized by a chronological data series managed by multiple computers across various entities, secures data with cryptographic codes. The fusion of ERP with blockchain technology creates a secure collaboration platform, allowing the free sharing of trusted systems of records. For example, software company SAP is exploring ways to efficiently integrate blockchain into its existing ERP system, with a focus on improving 3D printing and digital manufacturing.

Major companies in the ERP software sector are developing innovative products such as MetaERP to replace legacy ERP systems and better serve customers. MetaERP is a cloud-based ERP system that incorporates advanced technologies like cloud-native architecture, metadata-driven multi-tenancy, and real-time intelligence. These innovations significantly enhance service efficiency and operational quality. Huawei, for instance, launched a self-controlled MetaERP system in April 2023. Huawei's MetaERP transformation aims to reduce costs, elevate operational capabilities, and enhance service efficiency and quality.

The strict regulations implemented by governments pose challenges for the ERP software market. The adoption of advanced technologies like the Internet of Things (IoT) and machine learning across applications, including ERP, has led to fraudulent practices. Governments, including the UK and French governments, have imposed stringent guidelines on IoT device manufacturers to combat these practices. Such regulations hinder market growth and make it difficult for new companies to enter the ERP software market. Leading ERP software vendors like SAP and Oracle have been exploring the integration of IoT and machine learning into their products. However, the strict policies surrounding product development restrain market growth.

Major companies operating in the erp software market include SAP SE, Oracle Corporation, Microsoft Corporation, Epicor Software Corporation, Infor, Sage Intacct Inc., NetSuite Inc., IFS AB, Syspro Technologies, Brightpearl Limited, FinancialForce, Dolibarr ERP CRM, Awery Software FZ LLC, WP ERP, Kechie ERP, Stafiz, BatchMaster Software Pvt Ltd., Intuit Inc., Fidelity National Information Services Inc., Finserv Inc., Cerner Corporation, SS&C Technology Holdings Inc., Constellation Software Inc., Odoo, Lawson, Consona Corp, Activant Solutions Pvt Ltd., QAD Inc., Kronos Incorporated, International Business Machines Corporation

Asia-Pacific was the largest region in the ERP software market in 2023. North America was the second largest region in the ERP software market. The regions covered in the erp software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the erp software market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada

The ERP Software Market Empowering Seamless Business Communication and Information Flow

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Product Code: r9115

1. Executive Summary

2. ERP Software Market Characteristics

3. ERP Software Market Trends And Strategies

4. ERP Software Market - Macro Economic Scenario

4.1. Impact Of High Inflation On The Market
4.2. Ukraine-Russia War Impact On The Market
4.3. COVID-19 Impact On The Market

5. Global ERP Software Market Size and Growth

5.1. Global ERP Software Market Drivers and Restraints
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints Of The Market
5.2. Global ERP Software Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global ERP Software Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)

6. ERP Software Market Segmentation

6.1. Global ERP Software Market, Segmentation By Function, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Finance
Human Resources (HR)
Supply Chain
Other Functions
6.2. Global ERP Software Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
On Premise ERP
Cloud ERP
6.3. Global ERP Software Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Manufacturing and Services
Banking, Financial Services And Insurance (BFSI)
Healthcare
Retail
Government Utilities
Aerospace And Defense
Telecom
Other Verticals

7. ERP Software Market Regional And Country Analysis

7.1. Global ERP Software Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global ERP Software Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8. Asia-Pacific ERP Software Market

8.1. Asia-Pacific ERP Software Market Overview
Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific ERP Software Market, Segmentation By Function, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.3. Asia-Pacific ERP Software Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.4. Asia-Pacific ERP Software Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

9. China ERP Software Market

9.1. China ERP Software Market Overview
9.2. China ERP Software Market, Segmentation By Function, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.3. China ERP Software Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.4. China ERP Software Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

10. India ERP Software Market

10.1. India ERP Software Market, Segmentation By Function, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.2. India ERP Software Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.3. India ERP Software Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11. Japan ERP Software Market

11.1. Japan ERP Software Market, Segmentation By Function, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.2. Japan ERP Software Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.3. Japan ERP Software Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12. Australia ERP Software Market

12.1. Australia ERP Software Market, Segmentation By Function, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.2. Australia ERP Software Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.3. Australia ERP Software Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13. Indonesia ERP Software Market

13.1. Indonesia ERP Software Market, Segmentation By Function, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.2. Indonesia ERP Software Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.3. Indonesia ERP Software Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14. South Korea ERP Software Market

14.1. South Korea ERP Software Market, Segmentation By Function, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.2. South Korea ERP Software Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.3. South Korea ERP Software Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15. Western Europe ERP Software Market

15.1. Western Europe ERP Software Market Overview
15.2. Western Europe ERP Software Market, Segmentation By Function, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.3. Western Europe ERP Software Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.4. Western Europe ERP Software Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16. UK ERP Software Market

16.1. UK ERP Software Market, Segmentation By Function, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.2. UK ERP Software Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.3. UK ERP Software Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17. Germany ERP Software Market

17.1. Germany ERP Software Market, Segmentation By Function, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.2. Germany ERP Software Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.3. Germany ERP Software Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18. France ERP Software Market

18.5. France ERP Software Market, Segmentation By Function, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.6. France ERP Software Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.7. France ERP Software Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19. Italy ERP Software Market

19.9. Italy ERP Software Market, Segmentation By Function, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.10. Italy ERP Software Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.11. Italy ERP Software Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20. Spain ERP Software Market

20.13. Spain ERP Software Market, Segmentation By Function, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.14. Spain ERP Software Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.15. Spain ERP Software Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21. Eastern Europe ERP Software Market

21.1. Eastern Europe ERP Software Market Overview
21.2. Eastern Europe ERP Software Market, Segmentation By Function, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.3. Eastern Europe ERP Software Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.4. Eastern Europe ERP Software Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22. Russia ERP Software Market

22.1. Russia ERP Software Market, Segmentation By Function, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.2. Russia ERP Software Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.3. Russia ERP Software Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23. North America ERP Software Market

23.1. North America ERP Software Market Overview
23.2. North America ERP Software Market, Segmentation By Function, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.3. North America ERP Software Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.4. North America ERP Software Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24. USA ERP Software Market

24.1. USA ERP Software Market Overview
24.2. USA ERP Software Market, Segmentation By Function, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.3. USA ERP Software Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.4. USA ERP Software Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25. Canada ERP Software Market

25.1. Canada ERP Software Market Overview
25.2. Canada ERP Software Market, Segmentation By Function, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.3. Canada ERP Software Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.4. Canada ERP Software Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26. South America ERP Software Market

26.1. South America ERP Software Market Overview
26.2. South America ERP Software Market, Segmentation By Function, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.3. South America ERP Software Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.4. South America ERP Software Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27. Brazil ERP Software Market

27.1. Brazil ERP Software Market, Segmentation By Function, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.2. Brazil ERP Software Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.3. Brazil ERP Software Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28. Middle East ERP Software Market

28.1. Middle East ERP Software Market Overview
28.2. Middle East ERP Software Market, Segmentation By Function, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.3. Middle East ERP Software Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.4. Middle East ERP Software Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29. Africa ERP Software Market

29.1. Africa ERP Software Market Overview
29.2. Africa ERP Software Market, Segmentation By Function, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.3. Africa ERP Software Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.4. Africa ERP Software Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

30. ERP Software Market Competitive Landscape And Company Profiles

30.1. ERP Software Market Competitive Landscape
30.2. ERP Software Market Company Profiles
- 30.2.1. SAP SE
  - 30.2.1.1. Overview
  - 30.2.1.2. Products and Services
  - 30.2.1.3. Strategy
  - 30.2.1.4. Financial Performance
- 30.2.2. Oracle Corporation
  - 30.2.2.1. Overview
  - 30.2.2.2. Products and Services
  - 30.2.2.3. Strategy
  - 30.2.2.4. Financial Performance
- 30.2.3. Microsoft Corporation
  - 30.2.3.1. Overview
  - 30.2.3.2. Products and Services
  - 30.2.3.3. Strategy
  - 30.2.3.4. Financial Performance
- 30.2.4. Epicor Software Corporation
  - 30.2.4.1. Overview
  - 30.2.4.2. Products and Services
  - 30.2.4.3. Strategy
  - 30.2.4.4. Financial Performance
- 30.2.5. Infor
  - 30.2.5.1. Overview
  - 30.2.5.2. Products and Services
  - 30.2.5.3. Strategy
  - 30.2.5.4. Financial Performance

31. Global ERP Software Market Competitive Benchmarking

32. Global ERP Software Market Competitive Dashboard

33. Key Mergers And Acquisitions In The ERP Software Market

34. ERP Software Market Future Outlook and Potential Analysis

34.1 ERP Software Market In 2028 - Countries Offering Most New Opportunities
34.2 ERP Software Market In 2028 - Segments Offering Most New Opportunities
34.3 ERP Software Market In 2028 - Growth Strategies
34.3.1 Market Trend Based Strategies
34.3.2 Competitor Strategies

35. Appendix

35.1. Abbreviations
35.2. Currencies
35.3. Historic And Forecast Inflation Rates
35.4. Research Inquiries
35.5. The Business Research Company
35.6. Copyright And Disclaimer