Allied Market
The report offers detailed segmentation of the global market based on component, deployment model, enterprise size, industry vertical, and region.
PORTLAND, OR , UNITED STATES, UNITED STATES, May 5, 2023 /EINPresswire.com/ — Increase in need for operational efficiency and transparency in business processes, surge in adoption of cloud and mobile applications, and rise in demand for ERP software from small & medium enterprises drive the growth of the global enterprise resource planning market. Rapid transformation of modern business models and increase in application of ERP solutions in small & medium enterprises are anticipated to pave the way for multiple opportunities in the next few years.
The global ERP Market generated $43.72 billion in 2020, and is estimated to reach$117.09 billion by 2030, witnessing a CAGR of 10.0% from 2021 to 2030. The report offers a detailed analysis of changing market trends, value chain, top segments, key investment pockets, regional scenarios, and competitive landscape.
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Major industry players such as – NetSuite Inc., Infor, Sage Group Plc., Unit4,Oracle Corporation, Syspro, IBM Corporation, Microsoft Corporation, SAP SE, and TOTVS S.A.
By component, the software segment contributed to the highest share in 2020, accounting for nearly three-fifths of the total ERP market share, and is expected to maintain its lead during the forecast period. However, the services segment is projected to witness the fastest CAGR of 10.7% from 2021 to 2030.
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By region, North America held the highest share in 2020, contributing to more than one-third of the total market. However, the region across Asia-Pacific is projected to witness the fastest CAGR of 11.9% during the forecast period. The report also includes an analysis of the market across Europe and LAMEA.
By deployment model, the on-premise segment accounted for the largest market share, contributing to nearly half of the global Enterprise resource planning market in 2020.However, the cloud segment is expected to portray the largest CAGR of 11.6% from 2021 to 2030. The report also includes an analysis of the hybrid model segment.
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Some of the Recent Product Launches, Product approval, Announces and Merger in ERP Market –
Product Launch – In March 2021, Microsoft launched Microsoft Dynamics 365 Business Central 2021 Release Wave 1, the latest version of its cloud-based ERP system. The new version includes enhancements to financials, supply chain management, and project management capabilities.
Product Approval: In March 2021, Oracle received approval from the U.S. Department of Defense (DoD) for its cloud-based ERP system. This approval allows the DoD to use Oracle’s ERP system for financial management, supply chain management, and other critical operations.
Announcement: In April 2021, Infor announced that it would acquire Intelligent InSites, a provider of real-time location services and operational intelligence software for healthcare organizations. This acquisition will expand Infor’s capabilities in the healthcare industry.
Merger: In February 2021, IFS and AVEVA announced a merger to create a global leader in industrial software. The merged company will offer a comprehensive range of solutions for enterprise asset management, service management, and industrial automation.
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Lastly, this report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights on the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market.
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About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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