LONDON--(BUSINESS WIRE)--The global enterprise resource planning software market to register an incremental growth of USD 19.52 billion, witnessing a CAGR of almost 9% during 2020-2024, according to the latest market research analysis by Technavio. The report offers a detailed analysis of the impact of COVID-19 pandemic on the enterprise resource planning software market in optimistic, probable, and pessimistic forecast scenarios.
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Amid the COVID-19 Crisis, the Revaluated and Updated Enterprise Resource Planning Software Market Report Says:
- The enterprise resource planning software market will witness a Positive and Superior impact during the forecast period owing to the extensive rise of the COVID-19 pandemic.
- Due to the extensive spread of the virus across the globe, the Information Technology industry is anticipated to have Mixed and Direct impact
- Furthermore, as per Technavio’s pandemic-focused research highlights, the market demand will show At Par growth due to the increase in infections and reduced economic activity.
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Enterprise Resource Planning Software Market Segmentation and Competitive Analysis
Enterprise resource planning software market is segmented by type (cloud-based and on-premise) and geography (APAC, Europe, MEA, North America, and South America). Increasing demand for cloud-based applications has been an instrumental factor in influencing the growth of enterprise resource planning software market. Other market drivers include increasing demand for ERP software from SMEs and increased operational efficiency associated with ERP software.
The market is fragmented. The report analyzes the market’s competitive landscape and offers information on several market vendors, including Acumatica Inc., Epicor Software Corp., IFS AB, Infor Inc., Microsoft Corp., Oracle Corp., Sage Group Plc, Salesforce.com Inc., SAP SE, and ServiceNow Inc. Moreover, Technavio offers custom research analysis on the crucial pointers to highlight the impact of COVID-19 on the market across the supply chain.
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- Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
- The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers.
- The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
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