Global ERP SOFTWARE Market (Deployment, Functions, Verticals, End-User and Geography) – Size, Share, Global Trends, Company Profiles, Demand, Insights, Analysis, Research, Report, Opportunities, Segmentation and Forecast, 2013 – 2020
The global ERP market would witness notable growth during the forecast period 2014–2020. Adoption of ERP software among business functions like finance and supply chain would continue to contribute for a major portion of the market size by value. ERP software integrates business functions and it enables organizations to increase their business efficiency. Thus, implementation of ERP software gives a substantial return on investment to customers. Companies can choose either on premise or cloud-deployment model to implement ERP software. Industrial verticals such as manufacturing and services, BFSI, retail and telecom, etc., have adopted ERP system. These verticals would upgrade their existing ERP with modern ERP as it facilitates easy integration with cloud platform and mobile devices. Thus, streamlining business processes become easy as compared with on – premise ERP system. Large enterprises have adopted ERP software to reduce complexity involved in business functions. Over the period of time, mid-size enterprises would increasingly adopt ERP to reduce their operational cost and track real-time information.
Leading players in the market are concentrating on developing ERP software, which can be accessed via mobile devices. The cloud-enabled ERP software would receive preference over on-premise ERP due to the features like low cost and flexibility (in terms of deployment). The ERP market players are adopting product development strategies. This strategy enables the companies to improve their product portfolio and technical capabilities. Furthermore, a joint venture with cloud service providers is expected to boost the market during the forecast period. This would largely help the market players to effectively deliver their software from cloud platform. Hybrid ERP deployment model would rapidly emerge due to security issues associated with cloud technology. Market players such as Oracle, SAP and Microsoft charge high cost for ERP software. Thus, SMEs show a reluctance to implement ERP software in their businesses. In such scenario, open source applications would restrain the market growth.