Enterprise Resource Planning Market Size (2024 - 2029)

Enterprise Resource Planning Market Analysis

The Enterprise Resource Planning Market size is estimated at USD 65.25 billion in 2024, and is expected to reach USD 103.95 billion by 2029, growing at a CAGR of 9.76% during the forecast period (2024-2029).

• ERP software aids in planning, budgeting, forecasting, and reporting an organization's financial results. Due to a steep surge in the number of businesses worldwide and the requirement for cloud-based ERP platforms, the growing need for supplier-relationship management and customer-relationship management is augmenting the market's growth.
• The increasing adoption of innovative and advancing technologies is broadening the value of existing ERP systems, minimizing third-party dependencies, advancing highly secured resources, and advancing financial systems, among other notable factors driving the demand for ERP software, especially cloud-based.
• The growing need for a customer-centric strategy partly drives the enterprise resource planning (ERP) market. Businesses increasingly realize how crucial it is to put the customer at the heart of their operations to increase customer satisfaction, loyalty, and overall business success. ERP systems are essential to reaching this objective because they offer a full range of integrated applications that let businesses increase productivity, optimize workflows, and provide better customer service.
• Demand for mobile-friendly ERP solutions has increased due to the widespread use of mobile devices. By enabling people to approve workflows, access vital company data, and make decisions while on the move, mobile ERP apps help improve operational agility. For instance, users of smartphones or tablets can access essential ERP capabilities with SAP ERP mobile apps. This facilitates real-time decision-making, improves teamwork, and increases adaptability to shifting company needs.
• ERP systems that aren't flexible may find it difficult to evolve and adapt as businesses alter or expand. This restriction may make it more difficult for companies to introduce new product lines, enter new markets, or adapt to organizational structure changes. For instance, a business that is expanding quickly could find it difficult to scale its ERP system to handle higher transaction volumes, which could cause problems with performance and create bottlenecks in the business.
• The rise of the" business online" concept in the post-COVID-19 era increases the demand for contactless transactions, making manufacturing SMEs struggle to compete. This has created the need for ERP for manufacturing companies to enable them to run all activities in real time.

Enterprise Resource Planning Industry Segmentation

Software programs that integrate multiple company processes and operations into a unified platform are called enterprise resource planning or ERP. These processes include manufacturing, supply chain management, finance, and human resources.

The enterprise resource planning (ERP) market is segmented by offering (solutions and services), function (HR, supply chain, finance, marketing, and other functions), deployment (on-premise and hybrid), organization size (small and medium enterprises and large enterprises), industry verticals (BFSI, IT and telecom, government, retail and e-commerce, manufacturing, oil, gas, and energy, and other industry verticals), and geography (North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa). The report offers the market size and forecasts for all the above segments in value (USD).