The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

The Enterprise Resource Planning (ERP) software market has experienced rapid growth, reaching $182.22 billion in 2023, with a projected increase to $202.69 billion in 2024 at a CAGR of 11.2%. This surge is attributed to various factors in the historic period, including business process optimization, integration needs, legacy system replacement, regulatory compliance, and global expansion.

E-Commerce’s Impact on ERP Software Market

Real-time Data in E-Commerce

• ERP software plays a crucial role in the e-commerce sector.
• It provides real-time data and updates to customers, enhancing the overall sales process.
• The United States Census Bureau reports a 6.6% increase in U.S. retail e-commerce sales in Q2 2023, totaling $269.5 billion.

Market Players

• Major companies like SAP SE, Oracle Corporation, Microsoft Corporation, and others dominate the ERP software market.
• These companies offer solutions that align with the growing needs of the e-commerce industry.

View More On The ERP Software Market Report 2024 – https://www.thebusinessresearchcompany.com/report/erp-software-global-market-report

Future Trends in ERP Software Market

Forecasted Growth

• The ERP software market is anticipated to reach $311.4 billion in 2028, with a CAGR of 11.3%.
• Cloud ERP adoption, digital transformation, mobile and remote work, AI, automation, and user-friendly interfaces are driving this growth.

Emerging Trends

• Major trends in the forecast period include cloud ERP adoption, mobile ERP, IoT integration, SaaS ERP, and blockchain integration.

Challenges in ERP Software Market Evolution

IoT Guidelines Impact

• Strict guidelines by the UK and French governments on IoT device manufacturers create challenges.
• These guidelines aim to regulate ERP software incorporating advanced technologies like IoT and machine learning.
• Leading ERP software vendors like SAP and Oracle face hindrances in product development due to stringent policies.

Fraud Prevention

• Adoption of IoT and machine learning in ERP applications led to increased fraud practices.
• Governments respond with stringent regulations to curb fraud, affecting ERP software market growth.

Market Segmentation

Function

• ERP software market segmentation by function includes Finance, HR, Supply Chain, and Other Functions.

Deployment

• Deployment options comprise On-Premise ERP and Cloud ERP.

Verticals

• Vertical segmentation covers Manufacturing and Services, BFSI, Healthcare, Retail, Government Utilities, Aerospace & Defense, Telecom, and Other Verticals.

Regional Dominance

Asia-Pacific Leading

• In 2023, Asia-Pacific emerged as the largest region in the ERP software market.
• The region’s dominance highlights the global nature of ERP software adoption.

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The ERP Software Global Market Report 2024  provides comprehensive insights on the ERP software market size, trends and drivers, opportunities, strategies, and competitor analysis. The countries covered in the ERP software market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

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