Surging Demand for Data-Driven Decision-Making is Driving the Global ERP Software Market

ERP Software Market Overview

The ERP software market is anticipated to witness healthy growth from 2024 to 2032, a research report suggests. Growing at a CAGR of 9.40%, the market is projected to reach USD 123.4 billion by 2032. Increasing adoption of cloud & mobile applications is expected to support the market growth along with technological advancement in ERP. As predicted by analysts, the increasing cost will negatively affect the market’s performance from 2024 to 2032. During the forecast period, the market will be supported by increased adoption of advanced technologies and a rise in technological innovations.

Requirement of more time for the implementation on the other hand will challenge enterprise resource planning sector based organizations functioning in the global ERP software market. Analysts have split the market into deployment, function, organization size, and vertical segments based on products and services. Enterprise resource planning based companies have been profiled. The lack of developed infrastructure is set to affect the global market during the forecast period 2024 to 2032. The report also provides the market’s performance forecasts till 2032. Strategies of enterprise resource planning based companies are studied. The enterprise resource planning sector itself is supported by automation of processes by IoT as well as increased adoption of cloud-based applications. During the forecast period 2024 to 2032, the ERP software market is set to witness a health growth across deployment, function, organization size, and vertical segments as well as regional markets.

Market Segmentation

The enterprise resource planning sector has seen growth across deployment, function, organization size, and vertical segments owing to benefits of integrating ERP software with wearable technology and transmission of information in real-time. To study the market, analysts have further segmented deployment, function, organization size, and vertical into on-premise and cloud on the basis of deployment. The market is further segmented into function sub segment which is split into accounting & finance, human resource, sales & marketing, and supply chain and product management. Additionally, the ERP software market on the basis of organization size is segmented into large enterprises and small & medium enterprises. The market is further segmented into vertical sub segment which is split into aerospace & defense, BFSI, education, IT & telecom, manufacturing, retail, and others.

The segmental analysis presented in the report provides enterprise resource planning field based organizations insights into key growth factors such as minimized errors as well as challenges such as the growing penetration of alternatives in the market the market will face from 2024 to 2032. The integration of ERP with IoT and real-time access to data are some of the key factors having an influence on enterprise resource planning industry based companies, suggest analysts as per the ERP software market report. But the report also identifies growing concerns regarding high cost and the lack of demand from developing countries as major threats companies in enterprise resource planning will face till 2032. 

Regional Overview

Enterprise resource planning market based companies in the ERP software market are functioning across North America, Europe, Asia Pacific, the Middle East, and Africa including the rest of the world. Faster decision-making will be a key growth driver for regional markets. However, dynamic policies and regulations will turn out to be a threat. For the forecast period 2024 to 2032. Each of these regional markets are studied in the report. Starting from North America, the regional market and enterprise resource planning vertical based companies are spread across the United States, Mexico, and Canada.

The lack of awareness will turn out to be a major challenge from 2024 to 2032. Parts of the European market covered in the report are regional markets spread across the United Kingdom, France, Italy, and Germany. The market in the region will be benefitted by a range of opportunities for market development as well as an increase in the adoption of ERP software, suggests the report. Similarly, the enterprise resource planning sector’s segmental analysis for the Asia Pacific region covers India, Japan, China, and others. For the rest of the world, the research report for the ERP software market covers the Middle East and Africa. The global ERP software market forecasts based on the findings are presented for the forecast period till 2032.

Competitive Landscape

The global ERP software market research report brings a comprehensive study of deployment, function, organization size, and vertical market segments, regional analysis, and enterprise resource planning vertical based company details of key players. As the forecast period 2024 to 2032  will bring new opportunities for the market owing to the growing adoption of a cloud-based deployment model and the adoption of ERP by midsize businesses, the market is set to grow at a compound annual growth rate of 8.2% and is predicted to reach a value of USD 123.4 billion by 2032. With SWOT analysis of enterprise resource planning sector based companies and Porter’s Five Force model analysis based findings, and understanding challenges such as the growing penetration of alternatives in the market and the lack of demand from developing countries, companies in the enterprise resource planning sector can change the way business is done.

Industry News

Ensono, a multinational IT services provider, announced on Wednesday that it has reached a definitive agreement to be acquired by global investment group KKR & Co. The deal's terms were not disclosed, although it is expected to close in the next 60 days. Reuters, quoting unidentified sources familiar with the matter, announced recently that the transaction may be worth $1.7 billion. Charlesbank Capital Partners and M/C Partners now own Ensono, which they bought from Acxiom Corp in 2015. The contract was worth $190 million, according to Reuters.