Enterprise Resource Planning (ERP) systems play a crucial role in streamlining business processes, improving efficiency, and providing integrated solutions for organizations.
ERP Software Market Size was predicted at USD 53.8 billion in 2021. The ERP software market industry is projected to grow from USD 58.8 Billion in 2022 to USD 110.3 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 9.40% during the forecast period (2024 - 2030). The demand for ERP software from small and medium-sized businesses is rising, which is the key market driver enhancing market growth. Additionally, the rapid uptake of cloud and mobile apps is helping the ERP software industry expand. During the projection period, it is anticipated that the growing adoption of ERP solutions in small and medium-sized businesses and the swift transition of contemporary company models would present lucrative prospects for the market expansion of enterprise resource planning.
Source: https://www.marketresearchfuture.com/reports/erp-software-market-1412
· ERP Market Segmentation:
Cloud-based ERP solutions are gaining popularity, with a predicted market size of $63 billion by 2027, compared to on-premises ERP's estimated $46 billion (source: Gartner).
· Industry Adoption:
According to Panorama Consulting Solutions, the manufacturing sector leads in ERP adoption at 24%, followed by distribution (15%), retail (13%), and services (13%).
· · ERP Benefits:
Organizations report benefits such as 60% reduction in operating costs, 53% faster financial close, and 46% increase in customer satisfaction after implementing ERP (source: ERP Focus).