Global Enterprise Resource Planning Industry to 2026 – Cloud Deployments to Assist Market Growth Fastest
DUBLIN, December 07, 2021– (BUSINESS WIRE) – The report “Global Enterprise Resource Planning Market – Growth, Trends, COVID-19 Impact, and Forecast (2021 – 2026)” has been added to ResearchAndMarkets.com offer.
The global enterprise resource planning market was valued at 39.11 billion in 2020 and is expected to reach 61.97 billion USD by 2026, registering a CAGR of 7.52% during the forecast period 2021- 2026.
SYSPRO (Pty) Ltd
Plex Systems Inc. (Rockwell Automation Inc.)
Infor Inc. (Koch Industries)
Epicor Software Company
The Sage SA Group
Dassault Systèmes SE
Key market trends
Cloud deployments to witness the strongest growth in the market
Cloud-based ERP solutions are comparatively cheaper and benefit both SMEs and large enterprises. Cloud-based ERP software is installed on the vendor’s remote servers instead of corporate hardware. Some of the solutions are provided on a service basis and hence are also referred to as ERP SaaS solutions. SaaS ERPs integrate a multi-tenant software architecture that allows multiple customers to use the same vendor-hosted software platform. Some of the benefits include faster deployment, lower upfront costs for software implementation, easy customization of single-tenant SaaS applications, easy setup and maintenance process, automatic data backup and disaster recovery. , and finally, easy integration and migration.
Cloud ERPs are generally classified as single-tenant and multi-tenant. In the first case, the solution is considered as a separate instance of ERP, used by a single company that does not have a shared server space. Configuration gives customers more control over the software and leaves more room for customization. In the case of multi-tenant solutions, a number of organizations use the same software platform and hardware where the vendor manages all updates and upgrades the ERP solutions to the latest versions which automatically grant access to customers with the latest versions. As a result, it reduces the burden on internal IT teams to ensure that customers always have access to the most up-to-date and secure ERPs.
North America will hold a significant market share
The rapid shift to cloud in the region is driving the growth of the cloud enterprise resource planning (ERP) market. According to Epicor Software’s 2021 annual report, 94% of mid-size critical businesses in the United States will adopt the cloud in 2021, compared to 25% who declared the cloud as a strategic priority in 2020. Additionally, 94% believed that the cloud would help sustain their businesses. Cloud ERP is one of the central investment strategies for manufacturers operating in the region. The adoption of an ERP warehouse management system (WMS), among others, is in line with the adoption of the cloud.
According to a 2020 NiceLabel survey, 21% of manufacturing CIOs suggested that their organization’s IT infrastructure was entirely cloud-based. Additionally, 80% of CIOs surveyed expected their organization to increase investment in IT systems such as ERP, MES, and WMS by more than 25% over the next three years.
The digital transformation in various end user industries in the region is also leading to the adoption of ERP solutions. In March 2021, Mountain Health Network (MHN), a West Virginia-based nonprofit health care system with nearly 700 beds in two teaching hospitals, announced the selection of Avaap, an Infor partner specializing in provision of health solutions. Additionally, MHN has partnered with Infor and Chartis Group to drive digital transformation across its delivery system. The project connects MHN’s Cerner EHR with Infor ERP for a single, integrated platform that will deliver real-time data to support decision making, quality of patient care and affordability.
The need to deliver personalized and relevant experiences to customers leads to ERP systems that can meet these needs with features like highly customizable dashboards. According to a survey by Movable Ink’s Audience of One Report 2021, 61% of consumers suggested they were likely to purchase goods or services when a business created a personalized experience in their branded content. (n = 1,000 US consumers).
Main topics covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET OVERVIEW
4.1 Market overview
4.2 Industry Value Chain Analysis
4.3 Industry Attractiveness – Porter’s Five Forces Analysis
4.4 Assessment of the impact of COVID-19 on the industry
5 MARKET DYNAMICS
5.1 Market drivers
5.1.1 Increased adoption of ERP solutions for better management
5.1.2 Real-time data analysis
5.2 Market challenges
5.2.1 Personalization difficulties according to business needs
6 MARKET SEGMENTATION
6.1 By deployment
6.2 By End User Industry
6.3 By organization size
6.4 By geography
7 COMPETITIVE LANDSCAPE
7.1 Company profiles
8 INVESTMENT ANALYSIS
9 FUTURE PROSPECTS
For more information on this report, visit https://www.researchandmarkets.com/r/yb8n8y
See the source version on businesswire.com: https://www.businesswire.com/news/home/20211207005569/en/
Laura Wood, Senior Press Director
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