The global ERP Software Market was valued at $45.81 billion in 2020, and is projected to reach $78.40 billion by 2026, growing at a CAGR of 10.8% from 2021 to 2026.
Enterprise Resource Planning (ERP) software is a software platform that combines several business-critical software types in a single interface. ERP software often includes customer relationship management, accounting, core HR, and supply chain management features, but companies may also find custom module combinations to fit their needs.
Key Players in the market includes Plex System, Acumatica, Inc., Epicor Software Corporation, Unit4, Oracle Corporation, Rootstock Software, QAD, Inc., Sage Group plc. SAP SE and SYSPRO.
Oct 2020- Plex System which delivers the first smart manufacturing platform, announced it was named a Leader in three IDC MarketScape reports: Worldwide SaaS and Cloud-Enabled Large Enterprise ERP Applications 2020 Vendor Assessment ( July 2020); Worldwide SaaS and Cloud-Enabled Medium-Sized/Midmarket Business ERP Applications 2020 Vendor Assessment ( July 2020); and Worldwide SaaS and Cloud-Enabled Small Business ERP Applications 2020 Vendor Assessment.
Sept 2020- Acumatica, announced a significant increase in the investment and focus of its award-winning business management solution in the UK. Ranked highest in usability and customer satisfaction, Acumatica Cloud ERP is the leading alternative to legacy ERP solutions and Oracle/NetSuite. Now available in a UK datacenter, Acumatica Cloud ERP is prepared to meet the rising demand for its industry-specific products. As an ERP provider that is committed to selling solutions though a channel of high-quality and well-trained Value Added Reseller (VAR) partner.
Oct 2020, Unit4, a leader in enterprise cloud software for Service Orgnization, announced Unit4 ERPx its next-generation cloud Enterprise Resource Planning (ERP) solution for mid-market services organizations. ERPx delivers fully integrated ERP, HCM and FP&A, on a unified architecture, with rapid deployment and industry-specific innovations out-of-the-box.
By 2022, Gartner predicts that artificial intelligence (AI) will be integrated into ERP systems by 65% of CIOs. 53% of UK CIO's are looking for more intelligent ERP systems that include technology like machine learning, AI and automation.
By deployment, the market is segmented into cloud and on-premise. By function, the market is segmented into CRM, sales, accounting and finance, HR and others. By organization size, the market is segmented into SMEs and large enterprises. By vertical, the market is segmented into BFSI, manufacturing, IT, communication, retail, healthcare, aerospace & defense, education and others. By region, the market is segmented into North America, Europe, Asia-Pacific and the rest of the world. Geographically, North America is expected to have huge market share and dominate the ERP market during the forecast period, by increasing the technology in cloud service across the US and Canada. APAC is expected to see potential growth opportunities in the ERP market, due to the wide presence of small and medium scale enterprises that are turning towards such hosted ERP solutions to efficiently manage their business processes, particularly in developing countries such as China and India.