Global ERP Software Market Value to cross USD 74 BN By 2026
Posted On October 19, 2020
A market research report anticipates the Global ERP Software Market to reach USD 39.2 BN in 2019. It is estimated to grow and reach USD 74 BN mark by 2026. The report publisher, Value Market Research expects a CAGR of 9.5% during 2020 to 2026. ERP, a suite of integrated applications to effectively handle business operations, is a popular software solution for companies of all sizes. The growing need to enhance an organization's efficacy by integrating various organizational systems and facilitates to ensure error-free transactions and production will be the main impetus for this market’s growth. The surge in cloud technology use and the increased application in defense & aerospace, retail, and government utility sectors due to its transparency and customer database-driven decision-making process will further propel market growth. The various barriers to this market’s growth are high investments, maintenance costs, and easy availability of open-source software applications.
Enterprise resource planning software is an integrated software model used to manage all day to day activities of a business or an organization. ERP can manage several core business processes, like sales, purchasing, accounting, human resources, customer support, CRM, and inventory in real-time mediated by software and technology. This system facilitates a smooth flow of information between all business functions and efficient connections to outside stakeholders. ERP systems run on various computer hardware and network configurations, using a database as an information repository. These system assists in integrating multiple organizational structures and ensure error-free transaction along with production processes, thereby, enhancing the organization’s overall efficiency.
The first chapter of the report "Global ERP Software Market Report By Deployment (On-Premise And Cloud), Function (Finance, Human Resource, Supply Chain And Others), Vertical (Manufacturing And Services, BFSI, Healthcare, Retail, Government Utilities, Telecom And Others), End-User (Large Enterprises And Small & Medium Enterprises (SME's)) And By Regions - Industry Trends, Size, Share, Growth, Estimation And Forecast, 2019-2026" gives the market introduction with a crisp summary of the report and goes in detailed revenue analysis bifurcated as per segments and regions in the subsequent chapters.
The study digs deep to identify the market drivers, restraints, opportunities and threats in the near future. By deployment the market is divided into On-Premise, Cloud. By function the market is segregated as Finance, Human Resource, Supply Chain, Others. By vertical the ERP software market is categorised as Manufacturing And Services, BFSI, Healthcare, Retail, Government Utilities, Telecom, Others. By end-user the ERP software market is categorised as Large Enterprises, Small & Medium Enterprises (SME's). The report identifies region which is expected to dominate the market over the next six years among all the regions studied in the report. North America, Europe, Latin America and Middle East & Africa are deeply researched in the report.
The Report Segments Global ERP Software Market -
- Human Resource
- Supply Chain
- Manufacturing And Services
- Government Utilities
- Large Enterprises
- Small & Medium Enterprises (SME's)
- North America
- Latin America
- Middle East & Africa
Players Profiled In the Report:
IBM Corporation, Infor, Microsoft Corporation, NetSuite Inc., Oracle, Sage Group Plc, SAP, Syspro, TOTVS and Unit4.
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