PUBLISHER: The Business Research Company | PRODUCT CODE: 1509634
PUBLISHER: The Business Research Company | PRODUCT CODE: 1509634
ERP and ECM integration involves linking enterprise resource planning (ERP) systems with enterprise content management (ECM) systems to enable smooth data exchange and workflow automation between the two platforms. ERP systems are software solutions that consolidate core business processes such as finance, human resources, supply chain management, and manufacturing into a centralized system. On the other hand, ECM systems are software platforms facilitating the creation, capture, storage, management, and retrieval of various enterprise content types, including documents, records, images, videos, and digital assets.
The primary categories of ERP and ECM integration include enterprise resource planning (ERP) and enterprise content management (ECM). ERP systems are comprehensive software solutions integrating essential business processes such as finance, human resources, inventory management, and supply chain management into a unified platform, promoting efficient management and decision-making throughout the organization. These systems encompass functions such as finance, human resources (HR), supply chain management, customer management, inventory management, manufacturing modules, business intelligence, and others. They can be deployed via cloud-based or on-premises models and find applications across sectors such as manufacturing, banking, financial services, insurance (BFSI), healthcare, aerospace and defense, telecommunications, and more.
The market research report is one of a series of new reports from The Business Research Company that provides ERP And ECM Integration market statistics, including ERP And ECM Integration industry global market size, regional shares, competitors with an ERP And ECM Integration market share, detailed ERP And ECM Integration market segments, market trends, and opportunities, and any further data you may need to thrive in the ERP And ECM Integration industry. This ERP And ECM Integration 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 and ECM integration market size has grown rapidly in recent years. It will grow from $74.90 billion in 2023 to $85.46 billion in 2024 at a compound annual growth rate (CAGR) of 14.1%. The expansion observed in the historical period can be credited to the optimization of business processes, compliance mandates, globalization, the increasing demand for data analytics, and the evolution of information technology.
The ERP and ECM integration market size is expected to see rapid growth in the next few years. It will grow to $147.02 billion in 2028 at a compound annual growth rate (CAGR) of 14.5%. The projected growth in the upcoming period can be linked to digital transformation, the rise of remote workforces, an emphasis on enhancing customer experiences, concerns regarding cybersecurity, and advancements in AI and automation. Key trends anticipated in the forecast period comprise the adoption of cloud-based solutions, AI-driven automation, integrated analytics capabilities, industry-specific solutions, and heightened security measures.
The momentum towards a remote workforce and virtual collaboration is poised to drive the expansion of the ERP (Enterprise Resource Planning) and ECM (Enterprise Content Management) integration market in the foreseeable future. Remote workforce and virtual collaboration entail employees working from locations beyond the traditional office setup, leveraging digital tools and technologies for communication, collaboration, and task completion. This shift is driven by evolving work preferences and the necessity for flexibility and resilience. ERP and ECM systems offer centralized platforms for managing and accessing critical business data, processes, and documents from any location, facilitating effective communication and collaboration among remote teams. For instance, in March 2023, GoRemotely, a US-based staffing and recruiting company, reported that 2.7 million healthcare professionals, constituting 17% of the total 16 million, could work from home. Additionally, in January 2024, the World Economic Forum, a Switzerland-based non-governmental organization, projected a 25% increase in the number of global digital jobs capable of remote work by 2030, reaching approximately 92 million. Hence, the shift towards remote workforce and virtual collaboration is propelling the growth of the ERP and ECM integration market.
Leading companies in the ERP and ECM integration market are innovating integration solutions, such as ready-to-run cloud ERP, to help businesses enhance the efficiency of content and document management processes across various sectors. Ready-to-run cloud ERP refers to pre-configured Enterprise Resource Planning (ERP) software solutions ready for immediate deployment in a cloud computing environment. For instance, in January 2023, ELO Digital Office GmbH, a Germany-based software company, introduced three new integration solutions tailored for ERP and CRM systems. These solutions represent a significant expansion of ELO's portfolio, offering interfaces for SAP S/4HANA cloud systems, SmartWe CRM from CAS Software AG, and abas ERP from abas Software GmbH. These integrations aim to facilitate seamless communication between ELO's ECM Suite and these prominent software environments, enabling users to store documents, transfer metadata, and initiate document-based processes directly from their ERP or CRM systems.
In January 2023, OpenText Corporation, a Canada-based software company, completed the acquisition of Micro Focus International plc for $5.8 billion. Through this acquisition, OpenText bolstered its cybersecurity, digital operations management, and applications modernization capabilities, positioning itself to deliver a new generation of information management software that accelerates organizational digital transformation. Micro Focus International plc, a UK-based software company, specializes in enterprise application integration and management software, including solutions for integrating ERP (Enterprise Resource Planning).
Major companies operating in the ERP and ECM integration market are Microsoft Corporation, International Business Machines Corporation (IBM), Oracle Corporation, NetSuite Inc., SAP SE, Salesforce.com Inc., Adobe Inc., Xerox Holdings Corporation, Workday Inc., OpenText Corporation, Sage Group plc, Kronos Incorporated, Epicor Software Corporation, Totvs S.A., UNIT4 N.V., Newgen Software Technologies Limited, Hyland Software Inc., M-Files Corporation, DocuWare Corporation, Deskera Holdings Limited, Awery Aviation Software, Brightpearl Limited, Penta Technologies Inc., Technology Group International
North America was the largest region in the ERP and ECM integration market in 2023. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the ERP and ECM integration market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the ERP and ECMm integration market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The ERP and ECM integration market consists of revenues earned by entities by providing services such as integration platform as a service, data mapping, workflow automation, custom development, and managed services. The market value includes the value of related goods sold by the service provider or included within the service offering. The ERP and ECM integration market also includes sales of connectors and adapters that are used in providing the services. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
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.
ERP And ECM Integration 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 and ECM integration 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.
Where is the largest and fastest growing market for ERP and ECM integration? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The ERP and ECM integration 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.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.