ERP Software: Market Share Gartner Technology trends for 2024

 

Enterprise resource planning (ERP) software: Market Share Gartner Technology trends for 2024

Enterprise Resource Planning

Abstract:

This article provides the latest and most detailed information on how to gain a competitive edge in digitalization, by applying new technologies within business systems. The report presents an overview of the market trends in enterprise resource planning (ERP), with information on key drivers and restraints that influence its growth. Furthermore, it explores the various segments of ERP for further analysis and insights, such as architecture, platform, application, services, technology, vendors, industry, verticals, regions, countries and segments. Moreover, some key findings about the future of this sector are provided using reliable statistics and forecasts.

Key Players: - Adobe Systems Inc., SAP SE, IBM Corporation, Oracle Corporation, Microsoft Corporation, Tata Consultancy Services LLP., SAP SE, SAP HANA, Google LLC, Salesforce.org, ServiceNow, Siemens AG, NetSuite Inc., Genesys International, Qualtrics Ltd., Inter Systems Group plc

Introduction:

An enterprise resource planning (ERP) system is an integrated software solution that enables businesses of all sizes to manage their day-to-day operations. It allows them to manage employees, inventory, payments, suppliers, sales, supply chain, customer relationship management (CRM), marketing, and many other operational functions. Businesses use ERP solutions to improve productivity, speed up decision-making processes, enhance organizational agility, and optimize financial performance. A cloud-based ERP solution offers the benefits of flexibility, scalability, cost efficiency, accessibility, and security, as well as a wide range of features that make these solutions more attractive to users. In addition, they can be customized according to specific requirements and requirements. Thus, enterprises should carefully consider which ERP solution best suits their needs before selecting one. With this report’s help, you can achieve maximum profit from your investment in enterprise resource planning. Here we provide important data related to global ERP trends, including vendor landscape and revenue forecast predictions to 2026. We have also highlighted the major challenges hindering the continued expansion of this segment.

The Global ERP Market Overview According to IDC, the global ERP market was valued at around $14.4 billion in 2021 and is expected to grow to over $17.1 billion by 2031 at a compound annual growth rate (CAGR) of 8.4%. By region, the Asia Pacific market is expected to register the highest CAGR of 9.7% during the period 2022–2031. The North American market was valued at $2.7 billion in 2021 and is anticipated to reach $3.4 billion by 2031 at a robust CAGR of 10.8%. By end user, the finance & insurance segment is expected to account for the largest share of the entire market by value in 2021. However, the retail, manufacturing, energy, healthcare, and others segment is projected to witness significant growth in the coming years. Major Vendors: – Adobe Systems Inc. - (US)

SAP SE - ( Germany )

IBM Corporation - ( US )

Oracle Corporation - ( US )

Microsoft Corporation - ( US )

Tata Consultancy Services LLP. - ( India )

SAP SE - ( Switzerland )

SAP HANA - ( Switzerland )

Google LLC - ( US )

Google LLC - ( US )

Siemens AG - ( Switzerland )

Siemens AG - ( Switzerland ) Industry Segmentation: – Architecture Type: Cloud

Cloud Platform: Public, Private, Hybrid

Public, Private, Hybrid Application: BPM, SaaS, MSP, IT PaaS, E-commerce, Supply Chain Management, Others

BPM, SaaS, MSP, IT PaaS, E-commerce, Supply Chain Management, Others Vertical Sectors: Banking, Finance, Insurance, Retail, Manufacturing, Transportation, Energy, Healthcare, Government, Media, Entertainment, Information Technology, Education, Other Sectors Regions: APAC, Europe, Middle East & Africa (MEA), and South America Countries: Australia, Brazil, China, India, Indonesia, Japan, Malaysia, Mexico, New Zealand, Philippines, Singapore, South Korea, Taiwan, Thailand, UAE, UK, and USA End User: Financial Institutions, Banks, Non-profit Organizations, Corporations

Financial Institutions, Banks, Non-profit Organizations, Corporations Companies: Microsoft Corporation - (US)

SAP SE - ( Germany )

SAP HANA - ( Switzerland )

Oracle Corporation - (US)

Google LLC - (US)

Google LLC - (US)

Siemens AG - ( Switzerland )

Siemens AG - ( Switzerland ) Industry Trending Factors: – Growing Demand from Large Enterprises

Large Enterprises such as banks, hospitals, airlines, and oil companies are increasingly adopting ERP solutions due to its ability to streamline their operational activities. These large organizations often have extensive amounts of transactional data and often rely on spreadsheets for reporting purposes. Such factors are expected to drive demand in the global ERP market in the near future. Additionally, rising concerns regarding compliance requirements imposed on large corporations are positively influencing the adoption of ERP solutions among large organizations. Various regulatory bodies around the world are introducing stringent regulations regarding access to sensitive information, privacy, and confidentiality, thus increasing the likelihood of implementing ERP solutions. This factor has increased pressure on firms to adopt advanced solutions such as cloud-based solutions that offer enhanced visibility, control, and automation of their processes. To overcome this challenge, several large enterprises are moving towards modularized, scalable architectures where modules can be easily added or removed without affecting overall functionality. Moreover, continuous upgrades in technology and product offerings from smaller players are encouraging larger enterprises to migrate toward cloud-based software solutions. Hence, growing demand from large enterprises is likely to propel the growth of the global ERP market during the forecast period (2022-2031). Data Presentation – Historical Analysis

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