Market Trends of Enterprise Resource Planning Industry
Large Enterprises to Witness Highest Market Growth
- Large enterprises have a staff size of more than 250 employees. The growing need for streamlining and coordination to establish effective communication between various departments and employees propels the adoption of ERP software among large enterprises. ERP helps large organizations easily share information and data in real time.
- Single-tenant cloud-based ERP software systems are becoming more suitable for large companies. In this system, each user has a separate software instance hosted on the dedicated hardware of the public infrastructure, gaining a higher level of control and expanded customization capabilities.
- Most ERP solutions, including SAP solutions, have been developed for large corporations to help them track their regional operations. Large manufacturing companies using ERP successfully manage and automate their production and supply chain activities, augmenting segment growth.
- Furthermore, the high cost of complex ERP solutions makes them affordable only for large enterprises with high IT budgets. Implementing an ERP project requires a large team of technical experts and consulting services in large companies. Large enterprises, therefore, must hire ERP specialists to complete their projects. Additionally, big corporations implement ERP solutions across multiple sites, adding complexity.
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North America to Hold the Largest Market Share
- Some of the most popular ERP solutions in the United States include Oracle NetSuite, Oracle ERP Cloud, and Microsoft Dynamics 365. The increasing adoption of ERP software in the United States is attributed to large enterprises such as Oracle and Microsoft, among others, as well as the need for businesses to gain a competitive edge in the market by integrating business functions.
- Moreover, these companies provide ERP software solutions built for mid and large-sized companies to assist them in complex functions such as finance and operations. Many providers offer mature ERP solutions owing to their decades of expertise and industry knowledge, promoting demands for such solutions in the United States.
- ERP solutions such as Oracle Netsuite, Oracle ERP Cloud, Microsoft D365, and Acumatica target small and mid-market companies looking to upgrade their basic accounting system and evolve through digital transformation. Others have defined a prominent niche in the marketplace, focusing on manufacturing distribution organizations and offering cost-effective solutions with a very high return on investment (ROI).
- ERP software benefits Canadian organizations by reducing duplicated data entry by integrating business processes. Increasing customer demand to reduce time and increase the accuracy of business functionalities is driving the need for ERP solutions in Canada. Toronto and Montreal are rising as central hubs for business and tech advancements in Canada. The areas are witnessing many established and emerging players in the regional ERP market.
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