Market Size of Enterprise Resource Planning Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 65.25 Billion |
| Market Size (2029) | USD 103.95 Billion |
| CAGR (2024 - 2029) | 9.76 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
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*Disclaimer: Major Players sorted in no particular order |
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ERP Market Analysis
The Enterprise Resource Planning Market size is estimated at USD 65.25 billion in 2024, and is expected to reach USD 103.95 billion by 2029, growing at a CAGR of 9.76% during the forecast period (2024-2029).
ERP software aids in planning, budgeting, forecasting, and reporting an organization's financial results. The growing need for supplier-relationship management and customer-relationship management, due to a steep surge in the number of businesses worldwide and the requirement for cloud-based ERP platforms, is augmenting the market's growth rate.
The increasing adoption of innovative and advancing technologies, broadening the value of existing ERP systems, minimizing third-party dependencies, more highly secured resources, advancing financial systems, and other notable factors are driving the demand for ERP software, especially cloud-based.
The enterprise resource planning (ERP) industry is being driven in part by the growing need for a customer-centric strategy. Businesses are realizing more and more how crucial it is to put the customer at the heart of their operations in order to increase customer satisfaction, loyalty, and overall business success. ERP systems are essential to reaching this objective because they offer a full range of integrated applications that let businesses increase productivity, optimize workflows, and provide better customer service.
Demand for mobile-friendly ERP solutions has increased due to the widespread use of mobile devices. By enabling people to approve workflows, access vital company data, and make decisions while on the move, mobile ERP apps help improve operational agility. For instance, users of smartphones or tablets can access essential ERP capabilities with SAP ERP mobile apps. This facilitates real-time decision-making, improves teamwork, and increases adaptability to shifting company needs.
ERP systems that aren't flexible may find it difficult to evolve and adapt as businesses alter or expand. This restriction may make it more difficult for companies to introduce new product lines, enter new markets, or adapt to organizational structure changes. For instance, a business that is expanding quickly could find it difficult to scale its ERP system to handle higher transaction volumes, which could cause problems with performance and create bottlenecks in the business.
The rise of the" business online" concept in the post-COVID-19 era increases the demand for contactless transactions, making manufacturing SMEs struggle to compete. This has created the need for ERP for manufacturing companies to enable them to run all activities in real time.
