Global ERP software market is anticipated to witness tremendous gains
over the next seven years on account of its increasing application in defense
& aerospace, retail, and government utility sectors. The software enables
organizations to function with transparency, increases productivity, and
enables decision making. The industry is expected to be worth USD 48.22 billion
in 2022.
ERP software as a finance
function facilitates management of different financial activities including
cash flow management, asset management, accounting, and investment. Finance was
the largest segment of the market contributing to over 22.0% of the share in
2014 and is estimated to grow at a CAGR exceeding 7.0% from 2015 to 2022.
Human resource is likely to be
the fastest growing functional segment owing to rapid organizational
development and expansion. Automated HR processes are also expected to drive
growth.
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On-premise ERP software
deployment model accounted for over 60.0% of the total revenue in 2014, owing
to the various benefits offered including high data security and continuous
control in the organizations, thereby reducing the dependency on third party vendors.
The market was valued at USD 17.01 billion in 2014. Cloud deployment was the
second largest segment in 2014 owing to the introduction of mobile devices
coupled with lower infrastructure requirements.
Manufacturing & services were
valued at USD 5.11 billion in 2014, capturing over 15.0% of the revenue share
in 2014. This segment utilizes ERP software for a broad range of business
activities including customer services, inventory management, production
scheduling, day-to-day performance management, daily operations monitoring and
inter-departmental collaboration. Government utilities are expected to capture
a significant share due to rising adoption of IT infrastructure.
Medium-enterprises were the
largest end-users, accounting for over 40.0% of the global share in 2014, owing
to the factors including minimized production costs, increased operational
efficiency, and timely product delivery. Stringent government regulations and
compliances in organizations have augmented market demand thereby, achieving high
productivity and reduced complexity.
North America contributed to over
40.0% of the revenues in the global industry and was valued at USD 11.33
billion in 2014. Increasing technological advancements and rising adoption of
ERP software in the finance function by the enterprises in the region to
achieve transparency in financial transactions is expected to augment the
market demand.
Europe and Asia Pacific are
projected to register a speedy growth in the ERP software market owing to the
mounting number of enterprises and booming manufacturing industry. Government
initiatives, particularly in the emerging economies of Asia Pacific for
implementing IT infrastructure are expected to augment the market demand over
the forecast period. Key players present in the industry includes IBM
Corporation, Oracle Corporation, SAP SE, Sage Group Plc, Syspro, Unit4,
Microsoft Corporation and NetSuite Inc.
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Grand View Research has segmented the global ERP software
market on the basis of deployment, functions, verticals, end-user and region:
Global ERP Software Deployment Outlook (Revenue, USD
Million, 2012 - 2022)
- On-premise
- Cloud
Global ERP Software Functions Outlook (Revenue, USD
Million, 2012 - 2022)
- Finance
- Human
resource (HR)
- Supply
chain
- Others
Global ERP Software Verticals Outlook (Revenue, USD
Million, 2012 - 2022)
- Manufacturing
& services
- BFSI
- Healthcare
- Retail
- Government
utilities
- Aerospace
& defense
- Telecom
- Others
Global ERP Software End-User Outlook (Revenue, USD
Million, 2012 - 2022)
- Large
enterprises
- Medium
enterprises
- Small
enterprises
Global ERP Software regions Outlook (Revenue, USD
Million, 2012 - 2022)
- North
America
- Europe
- Asia
Pacific
- Rest
of World
Access Press Release
By Grand View Research: http://www.grandviewresearch.com/press-release/global-erp-software-market
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
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