ERP Software Solution is getting fast Adoption by Organisations World-over

31 Mar
2015

6585 Views

Recently, Allied Market Research published a report titled "Global ERP Software Market - Size, Industry Analysis, Trends, Opportunities, Growth and Forecast, 2013-2020". The report forecasts the global Enterprise resource planning (ERP) software market to grow at 7.2% CAGR amid the forecast period attaining a market size of $ 41.69 billion by the year 2020.

ERP is a business process management software that enables an organisation to use a set of integrated software applications to manage the organisation and automate various back-office operations related to human resource, technology and services. ERP software thus allows for the integration of various aspects of operation, product planning, accounting development, manufacturing, sales and marketing. These aspects or modules can be customized as per the specific needs of the company.

Businesses today are growing increasingly complex and to enable its smooth functioning, ERP software should be implemented by the organisations to facilitate day to day operations. With the emergence of cloud based technology the organisations can keep large amounts of data on cloud enabled ERP which will not only lend them enhanced flexibility but also will reduce their infrastructure costs considerably. Accessing ERP services from mobile devices is a dominant trend in the ERP market.

As mentioned in the report the ERP solution for the finance functions expected to contribute to near about 30% of global ERP market by the end of 2020. Furthermore, aerospace and defence industry vertical would grow at 8.86% CAGR amid the forecast, which is highest CAGR among other verticals. In terms of geography, Asia-Pacific would emerge as one of the most prominent markets. It is expected to reach $ 9.77 billion by 2020.

ERP software allows for increased flexibility and scalability to the organisations. Customers prefer cloud based ERP over on-premise ERP. By the end of 2020, cloud-enabled ERP is expected to grow at 10% CAGR as organisations globally are showing interest in implementing Software as a Service (SaaS) model.

Major companies profiled in this report are:

•   IBM Corp
•   Oracle
•   SAP
•   Sage
•   Netsuite Inc
•   Microsoft Corp
•   Unit4
•   Totvs
•   Syspro
•   Infor

Akhilesh Prabhugaonkar

Author's Bio- Akhilesh Prabhugaonkar holds a bachelor’s degree in Electronics Engineering from the reputed Vishwakarma Institute of Technology. He has a special interest in the fields of forensics, world history, international relations and foreign policy, sports, agriculture, astronomy, security, and oceanography. An ardent bibliophile and melophile, Akhilesh loves to write on topics of his interest and various other societal issues. This love for writing made him enter the professional world of content writing and pursue his career in this direction.

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