ERP Software Market Research Report- Forecast till 2027
The global ERP software market generated a revenue of USD 38,228.3 million in 2019 and is expected to reach a valuation of USD 66,389.7 million by 2026, growing at an 8.2% CAGR. In this report, Market Research Future (MRFR) includes the segmentation and dynamics of the market to offer a better glimpse of the market in the coming years.
The ERP software market consists of major segments, including deployment, function, vertical, organization size, and region.
The deployment segment has been further segmented into on-premise and cloud. Based on function, the ERP software market is further segmented into supply chain & product management, sales and marketing, accounting and finance, and human resource sub-segments. The sub-segments in the vertical segment include manufacturing, retail, BFSI, IT & telecom, aerospace & defence, education, and others. By organization size, the ERP software market is divided into small and medium enterprises and large enterprises.
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The global ERP software market has been segmented based on deployment, function, vertical, and region.
By deployment, the cloud segment accounted for the larger market share of 50.4% in 2019, with a market value of USD 19,267.4 million; it is expected to register a 10.9% CAGR during the study period. The on-premises segment in 2019 was valued at USD 18,960.9 million; it is projected to register the higher CAGR of 5.0%.
By function, the supply chain & product management segment accounted for the largest market share of 33.4% in 2019, with a market value of USD 12,757.0 million; it is projected to grow at 8.2% CAGR. The sales and marketing segment was the second-largest market in 2019, valued at USD 10,280.9 million; it is projected to exhibit a CAGR of 7.8%. However, the accounting and finance segment is expected to register the highest CAGR of 9.7%.
By vertical, the manufacturing segment accounted for the largest market share of 22.4% in 2019, with a market value of USD 8,564.3 million; it is expected to register an 8.7% CAGR during the study period. The others segment was the second-largest market in 2019, valued at USD 6,276.6 million; it is projected to exhibit a CAGR of 8.9%. However, the aerospace & defense segment is expected to register the highest CAGR of 9.3%.
The key players of the global ERP software market are Microsoft Corporation, IBM Corporation, Oracle Corporation, SAP SE, Infor, Sage Software plc, Epicor Software Corporation, Plex Systems Inc., NetSuite Inc, Intuit Inc, TOTVS, Unit4, Yonyou, Workday Inc, and Kingdee International Software Group (HK) Ltd.
Globally, the ERP software market has been categorized into five different regions—North America, Europe, Asia-Pacific, Middle East & Africa, and South America. North America is expected to dominate the ERP software market throughout the forecast period due to the rising adoption of ERP software to boost the operational efficiency of organizations in the region.
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ERP Software Market Research Report: Information By Deployment (On-premise and Cloud), Function (Supply Chain and Product Management, Sales and Marketing, Accounting & Finance and Human Resource), Vertical (Manufacturing, Retail, BFSI, IT & Telecom, Aerospace & Defence, Education and Others), Organization Size (Small and Medium Enterprises and Large Enterprises) – Forecast till 2027
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