Latest News- Enterprise Resource Planning (ERP) Software Market: Cloud-based is expected to lead the Type segment during 2025-2029

The Enterprise Resource Planning (ERP) Software Market is being driven by Increased operational efficiency associated with ERP software

The Enterprise Resource Planning (ERP) Software Market is expected to grow at a CAGR of 10.7% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 37.66 billion. Enterprise Resource Planning (ERP) software architectures and designs are advancing to accommodate real-time data processing. Modern ERP systems integrate transactional data and in-memory computing to deliver advanced reporting and analytics capabilities. These features are now incorporated into the ERP software architecture, enabling users to perform simulation, planning, modeling, and forecasting functions without the need for separate analytic applications. These embedded analytical capabilities within ERP software can significantly enhance an enterprise's market responsiveness. For instance, a global manufacturer can optimize its supply chain by utilizing the analytical features of ERP software to manage raw material sourcing more efficiently. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Type
  • Cloud-based
  • On-premises
• End-user
  • Manufacturing
  • BFSI
  • Healthcare
  • IT and telecom
  • Others
• Business Segment
  • Finance & Accounting
  • Human Resources (HR)
  • Supply Chain Management (SCM)
  • Customer Relationship Management (CRM)
  • Others
• Geography
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
  • APAC
    • China
    • India
    • Japan
  • Middle East and Africa
  • South America

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increased operational efficiency associated with ERP software
• Rising demand for ERP software from small and medium enterprises (SMEs)
• Growing demand for cloud-based applications

However, the market also witnesses some limitations, which are as follows:

• Increasing number of cyberattacks on ERP software
• Rising threat from open-source software
• Implementation challenges of enterprise resource planning software

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Market Scope in Enterprise Resource Planning (ERP) Software Market Research Report

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Research Analysis Overview

The Enterprise Resource Planning (ERP) software market encompasses various deployment models, including cloud ERP, on-premise ERP, and hybrid ERP, each offering distinct advantages in terms of software licensing and subscription models. Open source ERP solutions also exist, requiring unique data governance and compliance considerations. Integration platforms, business process reengineering, change management, user adoption, project management, and agile development are essential for successful ERP implementation. Software testing, disaster recovery, business continuity, IT infrastructure, network security, data center, cloud migration, cloud security, big data analytics, predictive analytics, virtual assistants, and data center security are critical components ensuring ERP system reliability, efficiency, and data protection.

Market Research Overview

The global IT software market encompasses businesses specializing in the development and production of application and system software. This sector includes enterprises engaged in creating application software for business or consumer use, such as enterprise resource planning (ERP) solutions. Specifically, the ERP software market focuses on financial management, supply chain management, human capital management, inventory management, and order management systems. Technavio calculates the market size by aggregating the revenues of organizations providing all types of IT software, including cloud-based solutions, in these specialized areas.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/