Irving, Texas (PRWEB) July 25, 2012
The IT industry had the hardest time during global recession; however, the robust economic growth in the emerging economies helped the industry rebound. New services and business models need to be re-invented to address the fast changing, complex market. The global ERP software industry reached an estimated $47.5 billion in 2011 with 7.9% CAGR and is forecast to attain an estimated $67.7 billion by 2017 with a 6.1% CAGR over 2012-2017.
Lucintel, a leading global management consulting and market research firm, has analyzed the global ERP software industry and offers its findings in “Global Enterprise Resource Planning (ERP) Software Industry 2012-2017: Trend, Profit, and Forecast Analysis."
The report focuses on North America, Europe, Asia Pacific, and Rest of the World. Currently, North America's dominance prevails in the industry. APAC and ROW witnessed the highest growth during 2006-2011, and this growth momentum is likely to continue during 2012-2017.Asia Pacific and Latin America are expected to be industry drivers due to their large base of SMEs heavily investing in software.
Economic growth, new emerging markets, and increasing demand from SMEs contribute to industry growth, whereas high cost of ERP implementation andsoftware piracy tend to block the growth rate.
Economic growth fueled IT spending in the manufacturing, banking and finance, and public sectors. IT spending, technological innovations, and economic growthinfluence the industry dynamics. High market growth, increasing mergers and acquisition, and high product diversification have made the industry highly competitive, which calls for constant innovation by companies to maintain and gain market share. Accessibility of such new delivery models as SaaS will boost SMEs investment in the software.
This Lucintel research report provides insights into the recent industry scope and overview, global macroeconomic overview, annual industry trend, emerging trends, industry forecasts, future opportunities, hazards, and the profitability analysis of the major industry players.
The data and analysis found in this report can be utilized for a variety of functional business reasons, including business development, strategic planning, determination of market size and trends, competitive analysis, investment decisions, and joint product development.
For a detailed table of contents and pricing information on these timely, insightful reports, contact Lucintel at +1-972-636-5056 or via email at helpdesk (at) lucintel (dot) com. Lucintel provides cutting-edge decision support services that facilitate critical decisions with greater speed, insight, and cost efficiency.