The
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
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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
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