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.
For Full Research Report On ERP Software Market Visit Here:
https://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.
Request a Sample Copy of the Report @
https://www.grandviewresearch.com/industry-analysis/erp-software-market/request/rs1
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
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 research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
No comments:
Post a Comment