ERP Software Market size was over USD 46.34 billion in 2024 and is poised to exceed USD 163.8 billion by 2037, growing at over 10.2% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of ERP software is evaluated at USD 50.12 billion.
The growing IT industry across the globe is the major factor driving the ERP demand as the financial planning, budgeting, forecasting, and reporting processes inside an organization are all facilitated by ERP software. The need for ERP software is rising due to several notable aspects, including the expanding value of existing ERP systems, reducing reliance on third parties, using more highly secured resources, developing financial systems, and others.
Due to a sharp increase in enterprises globally and the demand for cloud-based ERP solutions, the necessity for supplier and customer relationship management is growing, which is accelerating the market's pace. According to World Bank, globally, mobile technologies and services added USD 4.5 trillion to the economy in 2021, or 5% of GDP. However, vulnerable populations in both developing and developed nations who cannot access or use digital technologies run the risk of falling behind in the post-pandemic recovery process, which could have more severe knock-on effects.
Growth Drivers
Challenges
|
Base Year |
2024 |
|
Forecast Year |
2025-2037 |
|
CAGR |
10.2% |
|
Base Year Market Size (2024) |
USD 46.34 billion |
|
Forecast Year Market Size (2037) |
USD 163.8 billion |
|
Regional Scope |
|
Deployment (Cloud, On-premises, Hybrid)
The cloud segment in the ERP software market is expected to garner significant revenue during the forecasted timeframe. Cloud segmented is further expected to grow at a substantial CAGR during the forecast period. Most ERP companies have focused more on cloud and software-as-a-service (SaaS) solutions in the last decade. Moreover, cloud-based applications and software are easy to deploy for ERP. Despite this tendency, not all businesses should use the cloud.
Enterprise Size (Small Enterprise, Medium Enterprise, Large Enterprise)
Amongst these, the large enterprise segment is expected to grow at the substantial CAGR during the forecast period. As large enterprises have more substantial infrastructure and a huge revenue stream to implement on-premise ERP services, major organizations are the early adopters of ERP software and services. The urgent requirement to secure the company's key assets and manage operational processes and technological advancements is anticipated to increase demand for ERP software. Broad businesses have multiple locations; thus, they need a system that can integrate numerous company functions on a broad scale.
Our in-depth analysis of the global market includes the following segments:
|
Component |
|
|
Deployment |
|
|
Enterprise Size |
|
|
Business Function |
|
|
End User |
|
North American Market Forecast
North America industry is poised to dominate majority revenue share of 35% by 2037. Moreover, major ERP vendors have headquarters in the US, hence leveraging the demand across the North America region. The United States is the country that spends the most amount on cloud services. According to Harvard Business Review, cloud services are expected to account for 14% of all US IT spending by 2023.
APAC Market Statistics
The Asia Pacific ERP software market is expected to showcase substantial growth over the forecast period. There have been increasing government-favorable policies for digital technology software implementation. For instance, according to the Singapore Economic Development Board, Singapore’s USD 89 million TechSkills Accelerator program trains industry-ready ICT professionals.
Author Credits: Abhishek Verma
Copyright © 2024 Research Nester. All Rights Reserved
FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.
Have questions before ordering this report?