The ERP software market has been segmented based on deployment, functions, industry, end-user, and region. Based on deployment, the ERP software market is segmented into cloud based and on-premise deployment models. The cloud based deployment model segment is estimated to hold the major share of the global ERP software market. This is attributed to the rise in adoption of cloud-based technologies coupled with rising scalability offered by these technologies.
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Rising necessity for real-time data analytics is a prominent factor propelling the ERP software market. The function segment includes human resource (HR), supply chain, finance, and others. The industry segment includes key industries such as BFSI, manufacturing, healthcare, government utilities, retail, telecom, aerospace and defense and others. The end-user segment in the ERP software market includes large, small and medium enterprises. Large enterprises are estimated to have major share in the global ERP software market, due to their rising investments, whereas extensive adoption of ERP systems by mid and small sized enterprises are further supporting the growth of the SME’s in the market.
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Region wise, the global ERP software market is segmented into North America, South America, Europe, Asia Pacific (APAC), and Middle East & Africa (MEA). Presently, North America is estimated to dominate the market in terms of its revenue contribution share followed by Europe. However among all the regions, APAC is expected to create significant market opportunity for key players operating in the market due to growth in industrialization in this region during the forecast period.
Key players in the market are prominently focusing on introduction of advanced services and solutions in order to strengthen their position and improve their offerings. Key vendors operating in the global ERP software market include Oracle, TOTVS S.A, Microsoft Corporation, SAP SE, Infor, IBM Corporation, Netsuite Inc., SYSPRO, Unit4, Sage Group Plc, QAD, Focus Softnet, and Ultimate Software. ERP software vendors are updating the pricing models to strengthen their position in the market. The vendors are aiming on providing better integration architecture modules owing to the rising adoption of customized ERP software.