Global Enterprise Resource Planning Market to Reach USD 61.97 Billion by 2026

Strategic Insights -

The global enterprise resource planning (ERP) market was valued at USD 39.11 billion in 2020 and is expected to reach USD 61.97 billion by 2026, registering a compound annual growth rate (CAGR) of 7.52% during the forecast period. The market is driven by the increasing adoption of cloud-based ERP solutions, which offer faster deployment, lower upfront costs, and easy customization.

Key Takeaways:

  • Cloud deployments are expected to witness the highest market growth, driven by the benefits of cloud-based ERP solutions, including faster deployment, lower upfront costs, and easy customization.
  • North America is expected to hold major market share, driven by the rapid shift to the cloud and the adoption of ERP solutions by mid-sized essential businesses in the United States.
  • The digital transformation across various end-user industries in the region is also driving the adoption of ERP solutions.
  • Companies such as SAP SE, Oracle Corporation, Microsoft Corporation, and Infor Inc. are major players in the ERP market.
  • The market is expected to be driven by the need for real-time data analytics and highly customizable dashboards.
  • According to a survey by Movable Ink, 61% of consumers are likely to buy goods or services when a company creates a personalized experience in their branded content.

Statistics:

  • The global ERP market was valued at USD 39.11 billion in 2020.
  • The market is expected to reach USD 61.97 billion by 2026, registering a CAGR of 7.52% during the forecast period.
  • 94% of mid-sized essential businesses in the United States are adopting cloud in 2021, up from 25% that declared cloud a strategic priority in 2020.
  • 94% of mid-sized essential businesses believed the cloud would help future-proof their businesses.
  • 21% of the manufacturing IT directors in a 2020 survey by NiceLabel suggested that their organization's IT infrastructure was entirely cloud-based.
  • 80% of IT directors surveyed expected their organization to increase its investment in IT systems like ERP, MES, and WMS by more than 25% over the next three years.

Sources:

  • "Global Enterprise Resource Planning Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)"
  • ResearchAndMarkets.com
  • Epicor Software's 2021 Annual Insights Report
  • NiceLabel
  • Movable Ink's Audience of One Report 2021