ERP Software Market to Reach a Market Size of $70.3 Billion by 2025 - KBV Research
NEW DELHI, Dec. 2, 2019 /PRNewswire/ -- According to a new report Global ERP Software Market, published by KBV research, The Global ERP Software Market size is expected to reach $70.3 billion by 2025, rising at a market growth of 10.5% CAGR during the forecast period. The ERP market has grown rapidly over the past decade with providers introducing enterprise-wide solutions. These providers ensure that ERP solutions have a wide range of features, can be incorporated into other enterprise solutions, and can be tailored to growing business needs.
The On-premise market dominated the Global ERP Software Market by Deployment Type 2018. Cloud-based solution, nevertheless, is currently considered to be a cheaper alternative to on-premise solutions, and several small players appear to be assured of cloud data privacy. With developments in technology, a more advanced approach can lead to faster implementation for different ERP applications. As a response, ERP providers will deliver tailored solutions to cater for a large number of vertical markets, resulting in more tailor-made ERP solutions.
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The finance business role has been the largest contributor to the ERP software market in 2018. It is expected to remain dominant over the forecast period also. This trend can be associated with the increased adoption of the finance module in most companies to minimize the burden of financial functions and gain overall business expertise. However the human resource (HR) module is projected to see the highest growth due to ongoing business expansion in developing economies.
The Manufacturing market dominated the Global ERP Software Market by Industry Vertical 2018. The Retail & Distribution market is witnessing CAGR of 9.3% during the forecast period. Additionally, The Healthcare market is expected to witness prominent CAGR of 10.9% during (2019 - 2025).
The North America market holds the major market share of the Global ERP Software Market by Region. The Europe market is expected to witness a CAGR of 9.7% during (2019 - 2025). Asia-Pacific, however, is projected to grow at the highest CAGR during the forecast period due to the large involvement of small and medium-sized enterprises. These companies are turning towards hosting ERP solutions to handle their business processes effectively, especially in developing countries like India, China, and Singapore.
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The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Microsoft Corporation, IBM Corporation, Workday, Inc., SAP SE, Oracle Corporation, Infor, Inc., The Sage Group PLC (Sage Software Solutions Pvt. Ltd.), Plex Systems, Inc., Epicor Software Corporation and Unit4 NV.
Global ERP Software Market Segmentation
By Component
- Solution
- Services
By Function
- Finance
- Supply Chain
- Manufacturing Module
- Inventory Management
- Human Resource
- Customer Management
- Others
By Deployment Type
- On-premise
- Cloud
- Hybrid
By Organization Size
- Large Enterprises
- Small & Medium-Sized Enterprises
By Industry Vertical
- Manufacturing
- Retail & Distribution
- Healthcare
- BFSI
- Telecom & IT
- Government & Utilities
- Aerospace & Defense
- Others
By Geography
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
- LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Companies Profiled
- Microsoft Corporation
- IBM Corporation
- Workday, Inc.
- SAP SE
- Oracle Corporation
- Infor, Inc.
- The Sage Group PLC (Sage Software Solutions Pvt. Ltd.)
- Plex Systems, Inc.
- Epicor Software Corporation
- Unit4 NV
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