In a recently published report, ERP Software Market report for till 2030. The report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for ERP Software Market products.
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Moreover, increase in ICT spending around the globe for hardware, software, services, new technologies and telecom among others is also anticipated to contribute to the growth of the market in the coming years. The spending on new technologies recorded around USD 0.6 million in 2018 and is further estimated to reach close to USD 1.3 million by 2023. The total ICT spending around the globe further recorded close to USD 5 million in 2019 and is further.
Global ERP Software Market valued approximately USD 33.7 billion in 2017 is anticipated to grow with a healthy growth rate of more than 7.4% over the forecast period 2018-2025. The ERP Software Market is continuously growing across the world over the coming years. Conventionally ERP software has been extensively used for back office operations, which include production, accounting, inventory control and order management etc. An ERP software consists of multiple software modules and each ERP module is focused on a single area of business process such as material purchasing, inventory control, accounting, finance, HR and marketing etc. These modules can be prepared in accordance to the requirement of the company. ERP software is deployed either as an on premise or cloud based software.
In the statistics by Eurostat, the total value of the ICT sector including manufacturing and services of ICT in Europe, was estimated to be more than EUR 475 billion in the year 2017. Out of these, the ICT services sector accounted for the largest share. Moreover, the ICT services sector is predicted to be ten times larger than that of ICT manufacturing. On the other hand, the ICT services consist of computer programming, consultancy and related activities, along with telecommunication activities, out of which the former held about 49.1% share while the latter held around 30.3% share in the year 2017. These factors are estimated to impact positively towards the growth of the market in the next few years. According to the statistics by GSMA Intelligence, total cellular connections worldwide as of May 2020 was recorded to 10,18 billion.
As per the Eurostat, the total value of the ICT sector in Europe, including the ICT manufacturing and ICT services, was estimated to be more than EUR 475 billion in 2017. In this sector, the ICT services account for the major share as it is predicted to be ten times larger than the share held by ICT manufacturing. ICT services consist of computer programming, consultancy and related activities which held about 49.1% share while the telecommunications activities held around 30.3% share in the segment in 2017. These factors are estimated to impact the market growth in a positive manner in the next few years.
Rising demand for operational efficiency & transparency in business processes, escalating demand of ERP from small & Medium organizations and escalating adoption of cloud and mobile applications are the driving factors of the market across the globe. ERP software are efficient, these software create more accurate forecast, it reduces administrative & operations cost and it increases productivity of users by helping in negative complex process. Moreover, these software have flexibility and secure. These factors also increasing demand of ERP software over the coming years. However, high cost associated with ERP software and availability of open source application are the restraining factor of the market across the globe.
The regional analysis of Global ERP Software Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to presence of bulk number of cloud ERP solution vendors in the region. Europe is also estimated to grow at moderate rate in the global ERP Software market over the forecast period. Asia-Pacific is also anticipated to exhibit higher growth rate / CAGR over the forecast period 2018-2025 due to wide presence of small and medium scale of enterprises in the developing countries such as China, India and Japan.
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The major market player included in this report are:
*Oracle
*IBM Corporation
*Microsoft Corporation
*SAP SE
*Infor
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Vertical:
Manufacturing & Services
BFSI
Healthcare
Retail
Government Utilities
Aerospace & Defense
Telecom
Others
By End-User:
Large Enterprises
Medium Enterprises
Small Enterprises
By Regions:
North America
- U.S.
- Canada
Europe - UK
- Germany
Asia Pacific - China
- India
- Japan
Latin America - Brazil
- Mexico
Rest of the World
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Furthermore, years considered for the study are as follows:
Historical year – 2015, 2016
Base year – 2017
Forecast period – 2018 to 2025
Target Audience of the Global ERP Software Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
TABLE OF CONTENTS
Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Key Trends
1.3. Global & Segmental Market Estimates & Forecasts, 2015-2025 (USD Billion)
1.3.1. ERP Software Market, by Vertical, 2015-2025 (USD Billion)
1.3.2. ERP Software Market, by End-User, 2015-2025 (USD Billion)
1.3.3. ERP Software Market, by Region, 2015-2025 (USD Billion)
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. ERP Software Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Industry Evolution
2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. ERP Software Market Dynamics
3.1. See Saw Analysis
3.1.1. Market Drivers
3.1.2. Market Challenges
3.1.3. Market Opportunities
Chapter 4. ERP Software Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Buyers
4.1.2. Bargaining Power of Suppliers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter’s 5 Force Model
4.2. PEST Analysis
4.2.1. Political Scenario
4.2.2. Economic Scenario
4.2.3. Social Scenario
4.2.4. Technological Scenario
4.3. Value Chain Analysis
4.3.1. Supplier
4.3.2. Manufacturers/Service Provider
4.3.3. Distributors
4.3.4. End-Users
4.4. Key Buying Criteria
4.5. Regulatory Framework
4.6. Cost Structure Analysis
4.6.1. Raw Material Cost Analysis
4.6.2. Manufacturing Cost Analysis
4.6.3. Labor Cost Analysis
4.7. Investment Vs Adoption Scenario
4.8. Analyst Recommendation & Conclusion
Chapter 5. ERP Software Market, by Vertical
5.1. Market Snapshot
5.2. Market Performance – Potential Model
5.3. Key Market Players
5.4. ERP Software Market, Sub Segment Analysis
5.4.1. Manufacturing and Services
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