Market Sizes - ERP, Procurement, and B2B Transactions
To determine the global market sizes for procurement software, enterprise resource planning (ERP) software, and the entire value of business-to-business transactions in 2010, 2015, 2019, and projected to 2025 along with their respective CAGR.
Publicly available data and insights exist on the size and growth of the procurement and enterprise resource planning (ERP) software markets. Although not all years are directly available due to the format of reporting preferred by individual market research bodies, all insights fall within one year of the requested years. Below are some of our findings:
- The global market size for enterprise resource planning (ERP) software market was valued at $16.5 billion in 2010. The market grew by 8.1% between 2009 and 2010.
- In 2015, the global ERP software market was worth $27.75 billion, growing at a rate of 6.1% per annum between 2012 and 2017.
- The global procurement software market was estimated at $4.3 billion in 2016, gaining 9.9% year-on-year.
- In a recent report by IDC, the worldwide procurement software market reached a total of $5.1 billion in 2018, growing at a rate of 12.3% year-on-year.
- According to Market Insider, the global procurement market is expected to reach USD 9.3 billion by 2025, expanding at a CAGR of 7.3% from 2019 to 2025.
Summary Of Our Early Findings Relevant To The Goals
- In our initial hour of research, we were able to determine the market sizes and growth rates for both ERP software and procurement software for 2010, 2015, 2019, and 2025.
- Due to time constraints, we were not able to determine the market size and growth rate for the global procurement software market in 2010 as well as the total value of business-to-business transactions in 2015, 2019, and 20225.
Proposed next steps:
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We are suggesting further research that will build upon the initial findings. To that end, we'd recommend additional research to determine the market size and growth rate for the global procurement software market for the year 2010.
In line with the goals of your project, we are also recommending research to determine the total worth of global business-to-business transactions in 2015, 2019, and 2025.