The Global ERP
Software Market research report interprets
definition, an investigation of significant progress in the industry. It
provides overall industry survey, product description, wide array of
applications, top players, and development forecast. It enhances understanding
about that market along with new business trends.
Industry Insights
In 2014, the 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.
The inventory cost can be
reduced 25% to 30% and raw material cost by 15% due to implementation of ERP in
an organization. Low inventory cost and raw material cost will result in
increased profits of firms, thus boosting demand for product in next seven
years.
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Main features of the report:
·
To provide
detailed analysis of the market structure along with forecast of the various
segments and sub-segments of the global ERP Software Market.
·
A complete
backdrop analysis, which includes an assessment of the parent market
·
Important
changes in market dynamics
·
Market
segmentation up to the second or third level
·
To provide
country level analysis of the market for segment by application, product type
and sub-segments.
·
To provide
strategic profiling of key players in the market, comprehensively analyzing their
core competencies, and drawing a competitive landscape for the market.
·
Track and
analyze competitive developments such as joint ventures, strategic alliances,
mergers and acquisitions, new product developments, and research and
developments in the global ERP Software Market.
·
Emerging
niche segments and regional markets
·
An
objective assessment of the trajectory of the industry.
Function Insights
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.
Vertical Insights
In 2014, Manufacturing and
services accounted 15% of market share. Operations such as tracking day-by-day
performance, customer service and monitoring daily operations are guided by ERP
software. The demand for product is expected to increase due its capabilities
like ease of production scheduling, real time data tracking and inventory
management. It will propel the growth in forecasted period.
In addition, due to
adoption of IT infrastructure Government utilities also accounted significant
market share. High adoption of ERP in Europe and North America is expected to
drive market in coming period.
End-user Insights
SMEs accounted for over
40.0% of the market share in 2014. Proper management of database is required if
the firm is in expansion phase. The key factors such as reduced production
cost, increased operational efficiency and on-time product delivery is expected
to augment product demand. In industrial sector, better supply chain, reduced
complexity, better CRM and improved data access has facilitated the utilization
of ERP software.
Regional Insights
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.
In 2013, European Union
claimed 26% of its enterprise use ERP which was 5% more as compared to 2010.
Leading players such as Oracle, Unit4, SAP and Syspro will boom market.
Manufacturing sector is
expanding and developing at a extreme rate in Asia pacific, this will result in
increase demand for ERP. Government support and cooperation for implementation
for ERP will help to propel market.
Competitive Insights
The market is divided as
there are different companies in market worldwide. Acquisition, innovation and
new product development are key strategies opted by companies. IBM corporation,
NetSuite Inc., Syspro, Unit4, Microsoft Corporation, Infor, SAP SE and Totvs
S.A are key players in market.
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