San Francisco, United
States- ERP Software Market size was valued
USD 27,648 millions globally. ERP system is a shared database that supports
different business units. Integration of various functions in different
business unit, transparency, and efficiency is predicted to drive the market
over a forecast period. The need of streamlined processing in aerospace,
defense, government utilities and industries will play a major role in market
growth over a given period.
ERP is business management software that collect, stores,
manage and interprets data from many business activities, thus allowing smooth
flow of processes and better decision making and productivity. In Emerging
economies such as Brazil, India and China the product will have great demand
due to increasing number of SMEs. Development in IT sector, penetration of IT
firms, and changing consumer behaviour in these regions will lead to adoption
of ERP software over manual operations.
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In 2014, the use of ERP software in financial sector
accounted about 22% of market share. It maintains proper order and record of
all activities in a reliable and precise way. Management of different financial
activities such as asset management, investments, accounting and cash flow
management with ease and simplicity is expected to increase demand.
Human resource segment on the other hand also had a
significant share in market due to expansion of different organizations in
recent time. Expansion leads to increase in processes and complexity thus
resulting in use of ERP software. Benefits such as automated process, enhanced
information sharing and collaboration have helped in adoption of ERP software.
Deployment Insights
In 2014, Over 60% of market share was of ERP software based
on on-premise deployment. Continuous control and high data security in an
organization are benefits provided by on-premise deployment model which is
expected to drive the market.
The second largest market share in 2014 was of Cloud
deployment and it is expected to maintain its dominance in next seven years.
Major factors for its demand are low infrastructure requirement with its
capability to tune with other devices such as tablets and mobile phones.
Continuous technological advancement in ERP software in
association with presence of different players has helped its growth in North
America and the region account for a share over 40% in ERP software market.
Application of ERP along with mobiles phones is anticipated to drive market in
next seven years.
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Market Segment:
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
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