ERP Software Market SWOT Analysis and Competitive Insights till 2030

 ERP Software Industry Overview

The global ERP software market size was valued at USD 50.57 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 10.7% from 2022 to 2030.

The growth is attributed to factors such as the growing need for operational efficiency and transparency in business processes, increasing demand for data-driven decision-making, and rising adoption of mobile and cloud applications. However, the increasing availability of open-source applications and higher initial investment and maintenance costs are expected to restrain the market growth.

The implementation of ERP software in organizations can reduce inventory costs by 25% – 30% and raw material costs by around 15%. The software ensures a smooth flow of cross-functional information, offering better productivity and decision-making. A rise in the number of SMEs in developing economies such as China, India, and Brazil is expected to boost product demand over the forecast period. The adoption of IT technologies in these economies is expected to change consumer behavior, leading to increased adoption of ERP software instead of manual operations.

Gather more insights about the market drivers, restrains and growth of the Global ERP Software market

Low infrastructure costs and the ability to integrate with mobile devices are expected to increase demand for cloud services. Enterprises are ready to invest in cloud-connected mobile applications to facilitate synchronization, update, and control of documents. An increase in demand for cloud-based ERP solutions since the COVID-19 pandemic, especially from small- and medium-sized businesses, is anticipated to offer various opportunities for the stakeholders in the market. Therefore, a surge in the adoption of cloud and mobile applications is propelling the growth of the ERP software market.

The increasing number of business applications and the growing size of data generated through different supply chains have enabled companies to deploy a centralized platform that manages all the operations. Additionally, the demand for ERP solutions has increased owing to rising automation and increasing technological deployments in the supply chain management process, thereby contributing to market growth.

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ERP Software Market Segmentation

Grand View Research has segmented the global ERP software market based on deployment, function, enterprise size, vertical, and region:

  • ERP Software Deployment Outlook (Revenue, USD Million, 2017 - 2030)
    • On-premises
    • Cloud
  • ERP Software Function Outlook (Revenue, USD Million, 2017 - 2030)
    • Finance
    • HR
    • Supply Chain
    • Others
  • ERP Software Enterprise Size Outlook (Revenue, USD Million, 2017 - 2030)
    • Large Enterprises
    • Medium Enterprises
    • Small Enterprises
  • ERP Software Vertical Outlook (Revenue, USD Million, 2017 - 2030)
    • Manufacturing & Services
    • BFSI
    • Healthcare
    • Retail
    • Government
    • Aerospace & Defense
    • Telecom
    • Others
  • ERP Software Regional Outlook (Revenue, USD Million, 2017 - 2030)
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa (MEA)

Market Share Insights

  • April 2021: Unit4, a global leader in enterprise cloud applications, today announced the general availability of ERPx, its flagship ERP suite for people-centric organizations and the mid-market, to expand its global footprint and provide manufacturing companies with a cost-cutting ERP tool.
  • 2020: Unit4, one of the ERP vendors, partnered with Embridge Consulting, a U.K.-based consulting firm, to offer SaaS-based ERP tools to small & medium-sized enterprises. Anticipation of the growing demands and development of new products integrated with the latest technologies were of key interest to the vendors.

 

Key Companies profiled:

Some prominent players in the global ERP software market include

  • Hewlett-Packard Development Company, L.P.
  • Epicor Software Corporation
  • International Business Machines Corporation
  • Infor Inc.
  • NetSuite Inc.
  • Microsoft Corporation
  • SAP SE
  • Oracle Corporation
  • Unit4
  • Sage Group, plc

 

Order a free sample PDF of the ERP software Market Intelligence Study, published by Grand View Research.

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