Market Insights Technology Software Enterprise Software

Enterprise Resource Planning Software - G7

The Enterprise Resource Planning Software market is anticipated to witness a substantial increase in revenue, with projections indicating that it will reach a staggering US$37.26bn by the year 2024.
Furthermore, this market segment is expected to exhibit a steady annual growth rate of 3.25% between 2024 and 2029, resulting in a market volume of approximately US$43.72bn by the end of this period.
Additionally, the average Spend per Employee in the Enterprise Resource Planning Software market is estimated to reach US$92.54 in 2024, highlighting the significance and value of this industry.
When considering global comparisons, it is noteworthy that United States is poised to generate the highest revenue in this market segment, with a projected amount of US$26,700.00m in 2024.
This showcases the leading position of the United States within the G7 countries in terms of Enterprise Resource Planning Software market revenue.
In the G7 country of Germany, there is a growing trend of companies adopting cloud-based ERP software to streamline their operations and improve efficiency.

Key regions: United Kingdom, China, Australia, Canada, United States

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Analyst Opinion

The Enterprise Resource Planning (ERP) software market is a rapidly growing industry in the G7 countries. ERP systems are used by businesses to manage their day-to-day operations such as accounting, procurement, project management, and supply chain operations.

Customer preferences: In the G7 countries, businesses are increasingly adopting ERP systems to streamline their operations and gain a competitive advantage. The demand for cloud-based ERP solutions is on the rise as they offer greater flexibility and scalability, allowing businesses to adapt to changing market conditions. Additionally, businesses are looking for ERP systems that can integrate with other software solutions, such as customer relationship management (CRM) and human resources (HR) management systems, to create a seamless workflow.

Trends in the market: In the United States, the ERP market is expected to grow significantly due to the increasing adoption of cloud-based ERP systems. The healthcare industry is also expected to drive demand for ERP systems as healthcare providers seek to improve patient care and reduce costs. In Canada, the manufacturing industry is the largest user of ERP systems, with businesses looking to optimize their supply chain operations. The United Kingdom is expected to see growth in the ERP market as businesses prepare for Brexit and seek to streamline their operations. In Germany, the demand for ERP systems is being driven by the country's strong manufacturing industry. In Japan, the government's push for digitalization is expected to drive demand for ERP systems in various industries. In France, the ERP market is expected to grow as businesses seek to comply with new regulations such as the General Data Protection Regulation (GDPR).

Local special circumstances: In Canada, the ERP market is dominated by a few major players, with businesses often opting for solutions from established vendors. In the United States, there is a trend towards smaller, niche ERP vendors that offer specialized solutions for specific industries. In Japan, there is a preference for domestic ERP vendors due to language and cultural barriers. In Germany, the ERP market is highly competitive, with businesses often opting for solutions from local vendors.

Underlying macroeconomic factors: The growth of the ERP market in the G7 countries is being driven by several macroeconomic factors. The increasing adoption of cloud-based ERP solutions is being fueled by the rise of digitalization and the need for businesses to be more agile. Additionally, the trend towards globalization is leading businesses to seek out ERP systems that can manage operations across multiple countries and regions. The growing importance of data analytics is also driving demand for ERP systems that can provide valuable insights into business operations. Finally, the need for regulatory compliance is leading businesses to seek out ERP systems that can help them meet new regulations and standards.

Methodology

Data coverage:

The data encompasses B2B, B2G, and B2C enterprises. Figures are based on the allocation to the country where the money was spent at manufacturer price level (excluding VAT).

Modeling approach / Market size:

The segment size is determined through a top-down approach. We use financial statements such as annual reports, quarterly earnings, and expert opinions to analyze the markets. To estimate the segment size for each country individually, we use relevant key market indicators and data from country-specific industry associations such as GDP, level of digitization, GDP sector composition, and observed level of software piracy.

Forecasts:

We use a variety of forecasting techniques, for instance, advanced statistical methods, depending on the behavior of the relevant segment. The main drivers are the GDP and the level of digitization.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.