Change Language

Select Language

Global Enterprise Resource Planning (ERP) Market to Reach US$ 68.7 Billion in 2026, Impelled by Need for Efficient Business Processes

Published on Jun 21, 2021

According to the latest report by IMARC Group, titled "Enterprise Resource Planning (ERP) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026," the global ERP market size reached US$ 42.6 Billion in 2020. Enterprise resource planning (ERP) refers to a corporate management software that collects, stores, manages, interprets, and processes different organizational data into a unified system. It provides an updated view of business operations, which enables the management of core, end-to-end, real-time enterprise activities, such as purchase orders, supply chain operations, marketing, strategy planning, procurement of raw materials, payroll, and compliance. EPR offers effective communication, reduced capital expenses, enhanced management of a project lifecycle, and accurate data reporting.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.         

Global Enterprise Resource Planning (ERP) Market Trends:

The increasing need for operational efficiency and transparency, along with the rising digitization in corporate functionalities, is majorly driving the global ERP market growth. The widespread adoption of ERP in the healthcare sector to minimize clinical errors and effectively monitor administrative tasks is further contributing to the market growth. Moreover, the increasing utilization of ERP amongst small- and medium-sized enterprises to make data-driven decisions is acting as a growth-inducing factor. Apart from this, the sudden outbreak of coronavirus disease (COVID-19) is positively influencing product adoption as the cloud-based system efficiently helps enterprises to sustain business operations, electronic data exchange, and automated reporting through remote access.  Looking forward, the market is expected to reach US$ 68.7 Billion by 2026, growing at a CAGR of 8.2% during 2021-2026.

Market Summary:

  •  Based on the component, the market has been bifurcated into solutions and services. Currently, solutions represent the leading component in the market.
  •  On the basis of the business segment, the market has been divided into sales and marketing, finance and accounting, order management and others.
  •  Based on the deployment type, the market has been segmented into on-premises and cloud-based.  At present, cloud-based ERP accounts for the  majority of   the total market share.
  •  On the basis of the organizational size, the market has been classified into large and small- and medium-sized organizations. Presently, large organizations  dominate the market.
  •  Based on the vertical, the market has been segregated into BFSI, manufacturing, healthcare, education, government, automotive, and others. At present,  manufacturing holds the majority of the total market share.
  •  On the geographical front, the market has been segregated into North America (the United States and Canada), Europe (Germany, France, the United  Kingdom, Italy, Spain, Russia and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa. Amongst these, North America dominates the market.
  • The competitive landscape of the market has also been examined, with some of the key players being Epicor Software Corporation (KKR & Co. Inc.), International Business Machines Corporation, Kronos Incorporated (Hellman & Friedman LLC), Microsoft Corporation, Oracle Corporation, SAP SE, The Sage Group Plc, TOTVS SA, Unit4 (Advent International), Workday Inc. and Yonyou Network Technology Co. Ltd.
     

About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

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.

Contact US:
IMARC Group
30 N Gould St, Ste R
Sheridan, WY 82801, USA
Email: sales@imarcgroup.com
Americas: +1-631-791-1145 | Europe & Africa: +44-753-713-2163 | Asia: +91-120-433-0800

REACH OUT TO US

Call us on

( US: +1-631-791-1145 )
( UK: +44-753-713-2163 )
( India: +91-120-433-0800 )


Drop us an email at

sales@imarcgroup.com