Technavio has been monitoring the global enterprise resource planning software market size and it is poised to grow by USD 19.52 billion during 2020-2024, progressing at a CAGR of almost 9% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
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Technavio has announced its latest market research report titled Global Enterprise Resource Planning (ERP) Software Market 2020-2024 (Graphic: Business Wire)
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Frequently Asked Questions:
What was the size of the enterprise resource planning software market in 2019?
A. As per Technavio, the global ERP software market size was USD 38.71 billion in 2019 and is expected to reach USD 58.23 billion by 2024.
Based on segmentation by type, which is the leading segment in the market?
A. Cloud-based ERP software.
What is the key factor driving the market?
A. The increasing demand for cloud-based applications will drive the growth of the ERP software market
At what rate is the market projected to grow?
A. The market is projected to grow at a CAGR of almost 9% during the forecast period.
Who are the top players in the market?
A. Acumatica Inc., Epicor Software Corp., IFS AB, Infor Inc., Microsoft Corp., Oracle Corp., Sage Group Plc, Salesforce.com Inc., SAP SE, and ServiceNow Inc. are some of the major market participants.
Which region is expected to hold the highest market share?
A. North America
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Acumatica Inc., Epicor Software Corp., IFS AB, Infor Inc., Microsoft Corp., Oracle Corp., Sage Group Plc, Salesforce.com Inc., SAP SE, and ServiceNow Inc. are some of the major market participants. The increasing demand for cloud-based applications will offer immense growth opportunities. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
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Increasing demand for cloud-based applications has been instrumental in driving the growth of the market. However, the increasing number of cyberattacks might hamper the market growth.
Technavio’s custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.
Enterprise Resource Planning Software Market 2020-2024: Segmentation
Enterprise Resource Planning Software Market is segmented as below:
- North America
- South America
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Enterprise Resource Planning Software Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The enterprise resource planning software market report covers the following areas:
- Enterprise Resource Planning Software Market Size
- Enterprise Resource Planning Software Market Trends
- Enterprise Resource Planning Software Market Industry Analysis
This study identifies the advent of intelligent ERP as one of the prime reasons driving the enterprise resource planning software market growth during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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Enterprise Resource Planning Software Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist enterprise resource planning software market growth during the next five years
- Estimation of the enterprise resource planning software market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the enterprise resource planning software market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of enterprise resource planning software market vendors
Table of Contents:
- Market ecosystem
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 – 2024
Five Forces Analysis
- Five forces summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Type
- Market segments
- Comparison by Type
- Cloud-based – Market size and forecast 2019-2024
- On-premise – Market size and forecast 2019-2024
- Market opportunity by Type
- Customer landscape
- Geographic segmentation
- Geographic comparison
- North America – Market size and forecast 2019-2024
- Europe – Market size and forecast 2019-2024
- APAC – Market size and forecast 2019-2024
- MEA – Market size and forecast 2019-2024
- South America – Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
Market Drivers – Demand led growth
- Vendor landscape
- Landscape disruption
- Vendors covered
- Market positioning of vendors
- Acumatica Inc.
- Epicor Software Corp.
- IFS AB
- Infor Inc.
- Microsoft Corp.
- Oracle Corp.
- Sage Group Plc
- Salesforce.com Inc.
- SAP SE
- ServiceNow Inc.
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.