Global Enterprise Resource Planning (ERP) Technologies Market Size, Trends, and Analysis - Forecasts To 2026 By Deployment (Cloud Deployment, On-Premise deployment), By Application (Human Resource Management, Customer Relationship Management, Accounting, and Finance Management, Procurement and Order Management, Supply Chain Management, Others), By Vertical (Healthcare, Government & Education, BFSI, Transportation & Logistics, Manufacturing, IT & Telecom, Retail & Consumer Goods, Others), By Organization-Size (Small and Medium-sized Enterprises, Large Enterprises), By Region (North America, Asia Pacific, CSA, Europe, and the Middle East and Africa); End-User Landscape, Company Market Share Analysis & Competitor Analysis
The management system of critical business processes, mostly in real-time and influenced by technology and software, is enterprise resource planning (ERP). It is a type of software used by companies on daily basis to manage companies’ activities. IoT enables data collection, compilation, analysis, and processing for organizations when integrated into ERP solutions, allowing them to make informed decisions and develop strategies. These technologies significantly bolster competitiveness and improve the process of operation. During the forecasted timeline, the growing prevalence of IT technologies and the increasing development of mobile and cloud applications are expected to help market growth. One of the main trends driving the market growth is the growing acceptance of cloud-based solutions for companies to enhance operational efficiency. Furthermore, with the advent of advanced technologies, the growing focus of enterprises on optimizing workforce productivity is expected to influence the demand for ERP technologies solutions throughout the forecast period.
The two distinct categories of components of enterprise resource planning (ERP) technologies are cloud deployment and on-premise deployment. The cloud deployment will grow at a rapid CAGR rate over the projected timeframe. The growth of the cloud segment is mainly due to the low requirement for infrastructure coupled with the ability to implement with other devices, including mobile devices and tablets, which is anticipated to grow demand over the next few years.
The five different market applications are CRM, accounting and finance management, procurement and order management, HRM, and supply chain management, among others. In terms of revenue growth, in 2019, human resource management was the largest market shareholder. This is due to the rapid growth of companies, which makes it difficult to organize all the company's procedures. Furthermore, increasing the automation demand for HR processes is expected to anticipate the segment growth over the forecast period.
Small and mid-sized enterprise and large enterprise, are the two different aspects of the end-user. In terms of revenue generation, the small and mid-sized enterprises were the largest market shareholder in 2019. It is attributed to the increasing operational efficiency, reduction in production cost, and the on-time product delivery is projected to augment the demand over the projected timeline.
Healthcare, government & education, BFSI, transportation & logistics, manufacturing, IT & telecom, retail & consumer goods, among others are the different verticals of the market. The market is expected to dominate the manufacturing segment over the expected timeline. ERP software handles tasks such as regular operations management, tracking daily operations performance, and customer services that are projected to increase demand over the coming years.
In terms of market value, the largest market segment is held by the North American region. This is due to the rising technical advancements in ERP technologies, and emerging companies offering ERP solutions is expected to boost the market growth over the forecast timeline. On the other hand, owing to the increasing internet prevalence and urban growth in emerging economies, such as China and India, Asia Pacific is expected to emerge as the fastest-growing region ERP technology market. Moreover, government funding for the implementation of IT infrastructure is also driving the growth of the sector in the APAC region.
Adept Business Solutions, Apprise Software, Inc., Epicor Software Corporation, Iqms.Com, Oracle Corporation, Qualtec Systems Ltd, SAP SE, Synergix Technologies, The Sage Group Plc, Workday, Inc., Afas Software, Associated Computer Solutions (Pty) Ltd, Infor Inc., Microsoft Corporation, Qad Inc., IFS, Salesforce.Com, Inc., Smart ERP Solutions, Inc., Syspro, Unit4, and Workwise LLC, among others are the key vendors competing in the Enterprise Resource Planning (ERP) Technologies market.
Please note: This is not an exhaustive list of companies profiled in the report.
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The Global Enterprise Resource Planning (ERP) Technologies Market has been studied from the year 2019 till 2026. However, the CAGR provided in the report is from the year 2021 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the Enterprise Resource Planning (ERP) Technologies Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the companies and customer analytics.
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