According to IMARC Group latest published report, titled “Enterprise Resource Planning (ERP) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the global enterprise resource planning (ERP) market size reached US$ 46.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 76.3 Billion by 2028, exhibiting a growth rate (CAGR) of 9.4% during 2023-2028.
The enterprise resource planning (ERP) platform represents a standard process and data model that integrates various administrative and operational business functions into a unified system. It is of two kinds, including on-premises and cloud-based, that assist organizations in minimizing operational and capital expenses. ERP manages core, end-to-end, and real-time business activities, such as accounting, procurement, finance, order management, supply chain operations, risk management, compliance, etc. In addition, it also improves efficiency, lowers risks, and fosters collaboration. As a result, ERP finds widespread applications across various sectors, such as BFSI, healthcare, automotive, education, manufacturing, etc.
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Market Trends
The escalating demand for this solution to automate tasks and streamline information in several departments and the rising digitization of corporate functionalities are among the primary factors driving the enterprise resource planning (ERP) market. Besides this, the elevating requirement for this platform in the healthcare industry to reduce clinical errors, provide enhanced patient care, and monitor administrative costs is further augmenting the market growth. Moreover, the growing popularity of ERP systems in the banking, financial services, and insurance (BFSI) sector to integrate monetary processes, synchronize human resource management, provide managers with adequate analytics, and effectively manage the lifecycle of a project is also catalyzing the global market. Apart from this, the emerging trend of remote working models and e-commerce channels and the increasing need for cloud-based solutions to distantly operate complex systems, meet compliance standards, improve security, and access data in real-time are expected to bolster the enterprise resource planning (ERP) market in the coming years.
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List of Key Companies Covered in this Market Report:
- Epicor Software Corporation (KKR & Co. Inc.)
- International Business Machines Corporation IBM
- Kronos Incorporated (Hellman & Friedman LLC) (NYSE: KRO)
- Microsoft Corporation MSFT
- Oracle Corporation (NYSE: ORCL)
- SAP SE (NYSE: SAP)
- The Sage Group Plc (OTCMKTS: SGPYY)
- TOTVS S.A (BVMF: TOTS3)
- Unit4 (Advent International) (BVMF: TOTS3)
- Workday Inc. (NASDAQ: WDAY)
- Yonyou Network Technology Co. Ltd.(SHA: 600588)
The report has segmented the market on the basis of component, business segment, deployment type, organization size, vertical and geography.
Breakup by Component:
- Solutions
- Services
Breakup by Business Segment:
- Sales and Marketing
- Finance and Accounting
- Order Management
- Others
Breakup by Deployment Type:
- On-premises
- Cloud-based
Breakup by Organization Size:
- Large Organizations
- Small and Medium-Sized Organizations
Breakup by Vertical:
- BFSI
- Manufacturing
- Healthcare
- Education
- Government
- Automotive
- Others
Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023- 2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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