San
Francisco, 17 October 2018 - 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.
Full
Research Report On Global ERP Software Market By Grand View Research:
www.grandviewresearch.com/industry-analysis/erp-software-market
www.grandviewresearch.com/industry-analysis/erp-software-market
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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More Reports Of This Category By Grand View Research:
www.grandviewresearch.com/industry/communication-services
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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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Press Release Of This Research Report By Grand View Research:
www.grandviewresearch.com/press-release/global-erp-software-market
www.grandviewresearch.com/press-release/global-erp-software-market
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Grand View Research
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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 research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
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