Enterprise Resource Planning (ERP) Software Market to Surge at 14.4% CAGR over 2024 to 2032; Increasing Partnerships Between Domestic and Global Players to Spur Market Growth

The global enterprise resource planning software market size stood at USD 71.41 billion in 2023. The market is anticipated to expand from USD 81.15 billion in 2024 to USD 238.79 billion by 2032, exhibiting a CAGR of 14.4% during the forecast period.

Fortune Business Insights™ presents this information in its report titled “Enterprise Resource Planning (ERP) Software Market Size, Share & COVID-19 Impact Analysis, By Enterprise Type (Small & Medium Enterprises (SMEs) and Large Enterprises), By Deployment (Cloud & Hybrid and On-premise), By Business Function (Financial Management, Human Capital Management, Supply Chain Management, Customer Management, Inventory & Work Order Management, and Others (Sourcing & Procurement)), By End-user (Manufacturing, BFSI, IT & Telecom, Retail & Consumer Goods, Healthcare & Life Sciences, Transportation & Logistics, Government, and Others (Aerospace & Defense)), and Regional Forecast, 2024-2032”.

 ERP software leverages structured and unstructured databases to visually represent and extract insights from correlations, shifting market trends, hidden patterns, and more. Implementing AI and machine learning in ERP systems enables businesses to deliver superior customer service, realize various operational benefits, and automate repetitive tasks, making ERP software an attractive choice for organizations seeking growth.

Government Support and Digitalization Trends during COVID-19 Pandemic Prompted Market Progress

Favorable government policies played a crucial role in this development. Additionally, the substantial investment in global digital transformation, reaching USD 1.5 trillion, underscored the growing trend of digitalization in businesses, fueling the demand for ERP software solutions.

Jaguar Land Rover announced a Collaboration with Tata Technologies to Strengthen Industry Foothold

In March 2023, Jaguar Land Rover announced a partnership with Tata Technologies to accelerate the digital overhaul of their industrial strategy. Tata Technologies played a pivotal role by delivering a comprehensive ERP solution, streamlining and modernizing various aspects of Jaguar Land Rover's operations, including finance, manufacturing, supply chain, purchasing modules, and logistics. This integrates centralized knowledge and data from multiple departments into a single unified source.

Rising Need to Streamline Business Processes and Improve Operational Efficiency to Propel Market Progress

The integration of Enterprise Resource Planning software streamlines business operations, eliminating manual data entry, and providing a unified platform for various functions such as sales and marketing, procurement, and supply chain management. This efficiency and simplification of processes contribute to the adoption of these systems, enhancing operational productivity and cost-effectiveness for organizations.

However, the substantial costs associated with integrating cloud ERP software and services deter some organizations from adopting these solutions, particularly smaller businesses with limited budgets.

Industry Players are Strategically Collaborating with Key Firms to Access New Customer Bases

Major industry leaders are offering ERP software solutions that cater to a wide range of business sectors. These key players continually invest in the development of new solutions, technology upgrades, and the reinforcement of their technical competencies. Additionally, they are strategically collaborating with other companies to access new customer bases and are actively pursuing acquisitions to expand their market share and reach in the industry.

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/enterprise-resource-planning-erp-software-market-102498

List of Key Players Profiled in the Report:

• Oracle Corporation (U.S.)


• IBM Corporation (U.S.)


• SAP SE (Germany)


• Workday, Inc. (U.S.)


• Microsoft Corporation (U.S.)


• Sage Group plc (U.K.)


• Infor (U.S.)


• Deltek (U.S.)


• Acumatica, Inc. (U.S.)


• Epicor (U.S.)

Key Industry Development

• March 2023 – SAP introduced new cloud ERP solutions for midsize businesses, simplifying delivery and accelerating time-to-value.

Further Report Findings

• North America held the largest software market share. Key regional players' investments in research and development, coupled with their commitment to adopting emerging technologies, result in the enhancement of ERP solutions.


• The growth of the European market is predominantly fueled by the efforts of organizations and enterprises to embrace digital transformation across various sectors, significantly contributing to the upward trajectory of market growth in the region.


• In the Middle East & Africa and South America, the growth of the industry is mainly due to low deployment costs and the penetration of new industries.

Table of Segmentation