DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/5w2x3d/global_erp_market) has announced the addition of the "Global ERP Market (Deployment, Functions, Verticals, End - User and Geography) - Size, Share, Global Trends, Company Profiles, Demand, Insights, Analysis, Research, Report, Opportunities, Segmentation and Forecast, 2013 - 2020" report to their offering.
The global ERP software market is expected to reach $ 41.69 billion by 2020, registering a CAGR of 7.2% during 2014-2020
Emergence of cloud technology in the market would lead to a paradigm shift in the deployment methods from on-premise to cloud-enabled ERP. Cloud ERP software considerably reduces the investments required in alternative IT resources and offers greater flexibility. Thus, customers are shifting from on-premise to cloud ERP. Feature of accessing ERP from mobile devices would gain a surge in terms of adoption.
ERP software comprises of several ERP modules such as finance, sales, marketing, HR, etc. Integration of business functions is effectively done through implementation of ERP software. Thus, it enables smooth and efficient functioning of businesses. These benefits lead to a large adoption of ERP software among customers.
Among the various functions, finance function would drive the ERP software market significantly by the year 2020, and would contribute to near about 30% of the overall market revenue.Aerospace and Defense verticals have adopted ERP software to monitor and control their operational process. Aerospace and Defense verticals would grow at a relatively higher CAGR of 8.86% from 2014-2020 compared with other verticals. The prime reason for this growth would be to maintain data transparency on real-time basis.
Based on deployment type, cloud ERP is gaining prominence over on-premise ERP in Aerospace and Defense verticals. Realizing the business potential, market players such as Oracle, SAP and Infor are focusing to develop ERP system for Aerospace and Defense verticals. Adoption of ERP software among mid-size enterprises would grow rapidly at a CAGR of 7.9% during 2014-2020.
- INTERNATIONAL BUSINESS MACHINE (IBM) CORPORATION
- IBM Corporation
- MICROSOFT CORPORATION
- Sage Group Plc.
- NetSuite Inc.
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