ERP Software Market Size Worth $123.41 Billion by 2030: Grand View Research, Inc.

SAN FRANCISCO, May 10, 2022 /PRNewswire/ -- The global ERP software market size is anticipated to reach USD 123.41 billion by 2030, registering a CAGR of 10.7% during the forecast period, according to a new report by Grand View Research, Inc. The rising application of ERP software in banking, retail, government utility, and healthcare sectors is expected to drive market growth. The software benefits organizations by offering transparency in functions, increased productivity, and easy decision-making. Thus, the market is expected to grow significantly over the forecast period, thereby offering numerous opportunities to stakeholders.

Key Insights & Findings from the report:

• The cloud segment is expected to register the fastest CAGR owing to the growing awareness among businesses regarding the benefits provided by SaaS models for the business growth.
• The supply chain segment is anticipated to witness significant growth over the forecast period owing to the growing adoption of ERP solutions to plan, manage, and maintain supply chain operations.
• The small enterprises and medium enterprises segments are anticipated to witness significant growth owing to the growing number of start-ups and rising government support for the SME sector in implementing digital transformation solutions.
• The government segment is expected to witness a high CAGR over the forecast period owing to the rising need to streamline operations and increasing dependency on data-driven decision making.
• The Asia Pacific regional market is expected to witness significant growth over the forecast period owing to the rapid adoption of ERP software in local businesses.

Request a free sample copy or view report summary, "ERP Software Market Size, Share & Trends Analysis Report By Deployment (On-premises, Cloud), By Function, By Enterprise Size, By Vertical, By Region, And Segment Forecasts, 2022 - 2030", published by Grand View Research.

ERP Software Market Growth & Trends

The cloud deployment of ERP software accounted for maximum revenue in 2021 owing to the increased adoption of cloud-based ERP software during the COVID-19 pandemic. The rising number of sizeable data and increasing benefits provided by cloud technology in terms of data & remote accessibility, low maintenance, security, and efficiency are creating traction in the market. Additionally, this segment is expected to grow at a faster pace owing to benefits such as rapid implementation and low installation costs.

The finance function accounted for the largest share of the market in 2021 owing to the increased adoption of ERP solutions for several financial management activities, such as asset management, investment, cash flow management, and accounting. Furthermore, the increasing need to centrally manage customer data and keep track record of customer payments, revenues, and invoices promotes companies to deploy ERP software solutions, thereby contributing to the growth of the segment.

ERP software is widely used in the manufacturing and services segment. In this segment, the software is used in business activities such as inventory management, daily operations monitoring, customer services, day-to-day performance management, and production scheduling. With the rising adoption of IT infrastructure, verticals such as healthcare, aerospace & defense, and government utilities are expected to capture a significant market share.

The medium enterprises segment accounted for the largest share of over 35.0% of the global share in 2021. The growth of this segment is attributed to factors such as timely product delivery, increased operational efficiency, and minimized production costs. Additionally, the rising adoption of cloud ERP software by small- and medium-enterprise end-users is anticipated to fuel the market growth in the coming days.

ERP Software Market Segmentation

Grand View Research has segmented the global ERP software market based on deployment, function, enterprise size, vertical, and region:

ERP Software Market - Deployment Outlook (Revenue, USD Million, 2017 - 2030)

• On-premise
• Cloud

ERP Software Market - Functions Outlook (Revenue, USD Million, 2017 - 2030)

• Finance
• HR
• Supply chain
• Others

ERP Software Market - End-User Outlook (Revenue, USD Million, 2017 - 2030)

• Large enterprises
• Medium enterprises
• Small enterprises

ERP Software Market - Verticals Outlook (Revenue, USD Million, 2017 - 2030)

• Manufacturing & services
• BFSI
• Healthcare
• Retail
• Government utilities
• Aerospace & defense
• Telecom
• Others

ERP Software Market - Regional Outlook (Revenue, USD Million, 2017 - 2030)

• ·North America
• U.S.
• Canada
• Mexico
• Europe
• Germany
• U.K.
• France
• Asia Pacific
• China
• India
• Japan
• South America
• Brazil
• Middle East and Africa (MEA)

List of Key Players in the ERP Software Market

• Hewlett-Packard Development Company, L.P.
• Epicor Software Corporation
• International Business Machines Corporation
• Infor Inc.
• NetSuite Inc.
• Microsoft Corporation
• SAP SE
• Oracle Corporation
• Unit4
• Sage Group, plc

Check out more related studies published by Grand View Research:

• U.S. Healthcare ERP Market - The U.S. healthcare ERP market size is expected to reach USD 2.1 billion by 2025, registering a 5.6% CAGR from 2019 to 2025, according to a new report by Grand View Research, Inc. The market is expected to grow over the forecast period owing to the continued adoption of ERP software among healthcare providers based in the U.S. to deal with large volumes of data accumulated through digital resources. The rising burden of processing payment, insurance, and other administrative information of newly-enrolled patients on healthcare administrators is also expected to drive the adoption of healthcare ERP solutions in the U.S.
• Enterprise Application Market - The global enterprise application market size is estimated to be worth USD 259.51 billion by 2022, according to a new study by Grand View Research, Inc., registering a 7.8% CAGR during the forecast period. Increasing need among organizations for single data access point is anticipated to drive industry growth over the forecast period.
• Enterprise Content Management Market - The global enterprise content management market size is expected to reach USD 93.76 billion by 2025, according to a study conducted by Grand View Research, Inc., registering a CAGR of 15.6% during the forecast period. Soaring need for securing confidential data is triggering the adoption of enterprise content management software. Components of the software include solutions and services such as document management, web content management, records management, document collaboration, and digital rights management. These solutions enable enterprises to reduce their data storage costs and enhance productivity by allowing them to collaborate with employees.

Browse through Grand View Research's Next Generation Technologies Industry Research Reports.

About Grand View Research

Grand View Research, U.S. based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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