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COVID-19 Impact & Recovery Analysis – Enterprise Resource Planning (ERP) Software Market (2020-2024) | Growing Focus of Modern SMEs to Boost Growth | Technavio

LONDON–(BUSINESS WIRE)–#EnterpriseResourcePlanningERPSoftwareMarket–The global enterprise resource planning software market size is poised to grow by USD 19.52 billion during 2020-2024, progressing at a CAGR of almost 9% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.


ERPs are being implemented across SMEs for the better management of their business operations while offering improved collaboration, simplified compliance, productivity, and risk management. Additionally, ERPs are also being adopted as they offer effective planning and streamlining of data under one platform, which helps in regulating operational costs, enhancing decision-making, and increasing sales. With the growing focus of modern SMEs towards improving their operational and business process efficiency, the adoption of ERP software will increase, fueling the growth of the ERP software market size.

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Report Highlights:

  • The major enterprise resource planning software market growth came from the cloud-based segment. The ERP software market is undergoing a technological shift driven by the advent of cloud computing. The revenues from the cloud-based ERP segment have grown at a rapid rate over the last five years, and the trend is expected to continue during the forecast period. The increasing demand for cloud-based ERP led vendors to either come up with separate cloud-based ERP offerings or modify their existing ERP solutions. The low upfront costs of cloud-based ERP are driving its adoption across organizations, majorly SMEs who have limited IT budget and resources.
  • North America was the largest enterprise resource planning software market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. An increase in the need for business process efficiency and transparency through digital transformation will significantly drive ERP software market growth in this region over the forecast period.
  • The global enterprise resource planning software market is fragmented. Acumatica Inc., Epicor Software Corp., IFS AB, Infor Inc., Microsoft Corp., Oracle Corp., Sage Group Plc, Salesforce.com Inc., SAP SE, and ServiceNow Inc. are some of the major market participants. To help clients improve their market position, this enterprise resource planning software market forecast report provides a detailed analysis of the market leaders.
  • As the business impact of COVID-19 spreads, the global enterprise resource planning software market 2020-2024 is expected to have Positive and Superior growth. As the pandemic spreads in some regions and plateaus in other regions, we revaluate the impact on businesses and update our report forecasts.

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Rising Adoption of ERP by Financial Institutions will be a Key Market Trend

The rising adoption of ERP by financial institutions, one of the key market trends, will also drive market growth. Financial institutions including credit unions, trust companies, and insurance sectors are adopting technologies including blockchain, machine learning, and cognitive computing for enhancing their business operations. Additionally, these institutions are also adopting ERP for lowering their financial costs and risks. ERP integrated with blockchain further enables new ways of managing financial assets, resulting in increased adoption of the ERP software during the forecast period. This coupled with the demand for ERP software from SMEs will drive ERP software market growth during the forecast period.

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Enterprise Resource Planning Software Market 2020-2024: Key Highlights

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will assist enterprise resource planning software market growth during the next five years
  • Estimation of the enterprise resource planning software market size and its contribution to the parent market
  • Predictions on upcoming trends and changes in consumer behavior
  • The growth of the enterprise resource planning software market
  • Analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of enterprise resource planning software market vendors

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View market snapshot before purchasing

Executive Summary

Market Landscape

  • Market ecosystem
  • Value chain analysis

Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2019
  • Market outlook: Forecast for 2019 – 2024

Five Forces Analysis

  • Five forces summary
  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

Market Segmentation by Type

  • Market segments
  • Comparison by Type
  • Cloud-based – Market size and forecast 2019-2024
  • On-premise – Market size and forecast 2019-2024
  • Market opportunity by Type

Customer Landscape

  • Customer landscape

Geographic Landscape

  • Geographic segmentation
  • Geographic comparison
  • North America – Market size and forecast 2019-2024
  • Europe – Market size and forecast 2019-2024
  • APAC – Market size and forecast 2019-2024
  • MEA – Market size and forecast 2019-2024
  • South America – Market size and forecast 2019-2024
  • Key leading countries
  • Market opportunity by geography
  • Market drivers – Demand led growth
  • Market challenges
  • Market trends

Vendor Landscape

  • Vendor landscape
  • Landscape disruption

Vendor Analysis

  • Vendors covered
  • Market positioning of vendors
  • Acumatica Inc.
  • Epicor Software Corp.
  • IFS AB
  • Infor Inc.
  • Microsoft Corp.
  • Oracle Corp.
  • Sage Group Plc
  • Salesforce.com Inc.
  • SAP SE
  • ServiceNow Inc.

Appendix

  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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