Technology & Telecommunications

According to a market report by Lucintel, the future of the ERP market looks promising with opportunities in the aerospace & defense, banking, financial service, and insurance (BFSI), construction, government & utility, healthcare, IT & telecom, manufacturing, and retail & distribution industries. The global ERP market is expected to reach an estimated $88.1 billion by 2028 with a CAGR of 9.2% from 2023 to 2028. The major drivers for this market are growing preference for data driven decisions in organizations, continuous expansion of SMEs in the developing countries, and increasing penetration of revolutionary technologies, such as cloud computing, AI (artificial intelligence), and machine learning.



In this market, on-premises, hybrid, and cloud are the major segments of ERP market by deployment. Lucintel forecasts that on-premises will remain the largest deployment model segment over the forecast period as it is widely utilized in organizations worldwide to have a higher level of data security.



Within this market, BFSI is expected to remain the largest end use industry segment due to the widespread use of ERP in numerous aspects of financial accounting, including management accounting, asset management, cash flow management, and investment management



North America will remain the largest region due to the growing application of ERP software among small and medium-sized businesses, continuous requirement for vendor monetary support for modern technology-based ERP software advancement, and presence of key players in the region.

Acumatica, Deltek, Epicor Software, Genius Solutions, Global Shop Solutions, and Hewlett-Packard Development Company are the major suppliers in the global ERP market.  



Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global ERP market by deployment model, enterprise size, enterprise function, end use industry, and region. Lucintel has compiled a comprehensive research report entitled “Growth Opportunities in the Global ERP Market 2023-2028: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes trends and forecast for the global ERP market by deployment model, enterprise size, enterprise function, end use industry, and region, as follows:

 

This more than 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or email us at helpdesk@lucintel.com.

 

Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. Lucintel offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.

 

Q.1. What are some of the most promising, high-growth opportunities for the global ERP market by deployment model (on-premises, hybrid, and cloud), enterprise size (small, medium, and large), enterprise function (customer management, finance, human resource (H.R.), inventory management, manufacturing module, supply chain management, and others), end use industry (aerospace & defense, BFSI, construction, government & utilities, healthcare, IT & telecom, manufacturing, retail & distribution, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?

Q.2. Which segments will grow at a faster pace and why?

Q.3. Which region will grow at a faster pace and why?

Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?

Q.5. What are the business risks and competitive threats in this market?

Q.6. What are the emerging trends in this market and the reasons behind them?

Q.7. What are some of the changing demands of customers in the market?

Q.8. What are the new developments in the market? Which companies are leading these developments?

Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?

Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?

Q.11. What M&A activity has occurred in the last five years and what has its impact been on the industry?