The global enterprise resource planning (ERP) market will reach US$70.6 billion by 2027, growing at a growth rate (CAGR) of 9.7% during the period 2022-2027.
SHERIDAN, WYOMING, USA, July 29, 2022 /EINPresswire.com/ — According to IMARC Group’s latest report, titled “Enterprise Resource Planning (ERP) Market: Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027”, the Global Enterprise Resource Planning (ERP) Market the size reached US$41.8 billion in 2021. Looking ahead, IMARC Group expects the market to reach US$70.6 billion by 2027, showing a growth rate (CAGR ) by 9.7% over the period 2022-2027.
We regularly monitor the direct effect of COVID-19 on the market, as well as the indirect influence of associated industries. These observations will be incorporated into the report.
The Enterprise Resource Planning (ERP) platform combines different operational and administrative business activities into a single framework. It primarily manages core, end-to-end and in-the-moment operations while improving operational efficiency, reducing risk, encouraging collaboration, managing supply chain, and more. For this reason, ERP is frequently used by many companies to reduce total operating and capital costs.
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The use of ERP solutions to automate operations and organize information across departments has increased due to the increasing digitization of many business processes. Additionally, ERP supports financial process integration, human resource management, provides managers with analytical support, and effectively manages the project life cycle. As a result, it is used more frequently in the global banking, financial services and insurance (BFSI) industry. Additionally, as the healthcare industry grows, there is an increased need for ERP to reduce clinical errors, improve patient care, and track clinical and administrative expenses. Additionally, the sudden outbreak of the COVID-19 pandemic has prompted some companies to adopt remote working arrangements on a large scale. Indeed, strict containment measures have been put in place as a result. Therefore, there is a growing need for cloud-based ERP solutions to remotely manage complex systems and to meet various compliance requirements to improve data protection.
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List of key companies covered in this market report:
Epicor Software Corporation (KKR & Co. Inc.)
International Commercial Machinery Society
Kronos Incorporated (Hellman & Friedman LLC)
The Sage Group Plc
Unit 4 (Advent International)
Yonyou Network Technology Co.Ltd.
The report has segmented the market based on component, business segment, deployment type, organization size, vertical, and geography.
Breakdown by component:
Breakdown by business sector:
Sales and Marketing
Finance and Accounting
Breakdown by type of deployment:
On the site
Breakdown by organization size:
Small and medium organizations
Geographical distribution :
North America (USA and Canada)
Europe (Germany, UK, France, Italy, Spain, Russia and others)
Asia-Pacific (China, India, Japan, South Korea, Indonesia, Australia and others)
Latin America (Brazil, Mexico)
Middle East and Africa
Main highlights of the report:
Market Performance (2016-2021)
Market Outlook (2022-2027)
Porter’s Five Forces Analysis
Market drivers and success factors
Complete mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as part of the customization.
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