Overview:

The global ERP software market is showing immense growth; mainly due to the emergence of cloud technologies. ERP software refers to a set of various ERP modules such as finance, sales, marketing, HR etc. and provides seamless integration of these modules. Implementing an ERP software has various benefits such as it improves efficiency, scalability and decreases costs. An ERP software helps in eliminating repetitive processes and hence provides improved efficiency. It also provides integrated information at a single location which helps in keeping data consistent, accurate, and unique. Having a centralized database also offers mobility to the users. ERP software also provides various forecasting tools which ultimately helps in making realistic estimates and more effective forecasts.

According to a recent study report published by Market Research Future, The global market of ERP software is booming and expected to gain prominence over the forecast period. The market is projected to demonstrate a spectacular growth by 2023 with a striking CAGR during the anticipated period (2017 – 2023). ERP or enterprise resource planning software is used in organizations to monitor certain activities and maintain records for the same. ERP software is gaining popularity with to the major software providers like Oracle and SAP coming up with developments in the market. Oracle’s ERP, EPM, & SCM Cloud business has over 2,600 customers whereas, the number of customers for SAP for its next-generation ERP suite has exceeded 3,700 by July 2016. An ERP system allows an organization to run a synchronized configuration that connects all the business processes. Technological advancements and economic growth influence the industry dynamics. Also, increasing demand for ERP software from medium and small enterprises is one major factor driving the market growth.

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On the other hand, lack of proper analysis of requirements at the beginning will lead to unavailability of certain essential requirements and will affect the business operations in the long run. Compatibility issues with different ERP modules and other technology limitations are some of the factors hindering the growth of ERP software market. Also, implementation of ERP software will require upgradation of infrastructure, which will ultimately result in added costs and may hamper the market growth.

Key Players:


SAP SE (Germany), FIS Global (U.S.), Oracle (U.S.), Infor (U.S.), Microsoft Corporation (U.S.), Epicor Software Corporation (U.S.), QAD (U.S.), Sage (U.K), NetSuite Inc. (U.S.), Consona Corporation (U.S.), Syspro Infotech Pvt Limited (South Africa), Fujitsu (Japan) are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global ERP Software Market.

Industry News:


June 2017 – SAP SE and Fujitsu has announced expansion of their global partnership to offer advanced ERP solutions that use artificial intelligence (AI) and the Internet of Things (IoT). Together they also plan to jointly develop industry-vertical-oriented cloud services, to be delivered by Fujitsu, that incorporate Fujitsu's expertise in a range of industries. Fujitsu becomes one of SAP's first global technology partners to collaborate on intelligent ERP services. The two companies aim to offer services first in Japan and other Asian markets, and thereafter steadily expand into Europe and North America.

April 2017 – NetSuite unveils major global ERP enhancements. The new functionality spans global financials, revenue recognition, billing, services resource planning (SRP), supply chain management (SCM) and governance, risk and compliance (GRC). These enhancements give NetSuite customers the ability to continue to scale and innovate efficiently.

December 2017 – NetSuite adds three new partners seeking to drive growth with cloud ERP. Apps Associates, BTM Global and iSP3 are expanding their long time Oracle partner relationships to add NetSuite practices to their portfolio. Partnering with NetSuite allows them to help organizations in a range of industries improve operational efficiency, business agility, customer focus and data-driven decision-making.

Segmentation:


The ERP software market can be classified into 4 key segments for the convenience of the report and enhanced understanding;
Segmentation by Deployment: Comprises of On Cloud and On Premise
Segmentation by Application: Comprises of CRM, Sales, Business Intelligence, Accounting, HR and others
Segmentation by Vertical: Comprises of BFSI, Manufacturing, IT, Communication, Entertainment, Healthcare.
Segmentation by Region: Comprises of Geographical regions - North America, Europe, Asia Pacific and Rest of the World.

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Also Read: https://www.marketresearchfuture.com/reports/procurement-software-market-3115