According to the report published by Allied Market Research, the global enterprise resource planning (ERP) market generated $43.72 billion in 2020, and is estimated to reach$117.09 billion by 2030, witnessing a CAGR of 10.0% from 2021 to 2030. The report offers a detailed analysis of changing market trends, value chain, top segments, key investment pockets, regional scenarios, and competitive landscape.
Increase in need for operational efficiency and transparency in business processes, surge in adoption of cloud and mobile applications, and rise in demand for ERP software from small & medium enterprises drive the growth of the global enterprise resource planning market. On the other hand, high implementation cost of ERP software technology and availability of open-source ERP applications impede the market growth. However, rapid transformation of modern business models and increase in application of ERP solutions in small & medium enterprises are anticipated to pave the way for multiple opportunities in the next few years.
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The report offers detailed segmentation of the global enterprise resource planning marketbased on component, deployment model, enterprise size, industry vertical, and region.
By component, the software segment contributed to the highest share in 2020, accounting for nearly three-fifths of the total ERP market share, and is expected to maintain its lead during the forecast period. However, the services segment is projected to witness the fastest CAGR of 10.7% from 2021 to 2030.
By deployment model, the on-premise segment accounted for the largest market share, contributing to nearly half of the global Enterprise resource planning market in 2020.However, the cloud segment is expected to portray the largest CAGR of 11.6% from 2021 to 2030. The report also includes an analysis of the hybrid model segment.
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By region, North America held the highest share in 2020, contributing to more thanone-third of the total market. However, the region across Asia-Pacific is projected to witness the fastest CAGR of 11.9% during the forecast period. The report also includes an analysis of the market across Europe and LAMEA.
Leading players of the global ERP market analyzed in the research include NetSuite Inc., Infor, Sage Group Plc., Unit4,Oracle Corporation,Syspro, IBM Corporation, Microsoft Corporation, SAP SE, and TOTVS S.A.
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Key Findings of the Big Data Analytics in Healthcare Market:
- By industry vertical, the manufacturing segment accounted for the largest ERP market share in 2020.
- Region wise, North America generated highest revenue in 2020.
- On the basis of deployment model, the on-premise segment generated the highest revenue in 2020.
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