PUNE, MAHARASHTRA, INDIA, March 31, 2022 /EINPresswire.com/ — The Global enterprise resource planning (ERP) software market Research report by Absolute overview of the markets is an inclusive coverage of landscape drivers, trends, analyses, opportunities and constraints. The study aims to offer a key lead for potential investors to understand the growth opportunities and potential challenges in the market. To achieve this, the Enterprise Resource Planning (ERP) Software market report includes growth, size, share, historical progress, future projections, and cost, revenue, and production analysis. value chain. The report will cover competitive challenges in the global landscape with a keen eye on prevailing market strategies, growth stories, key products, geographies, etc. The global enterprise resource planning (ERP) software market was valued at USD 42,501 million in 2020, growing at a CAGR of 11.34% over the forecast period (2021-2029).
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The COVID-19 pandemic has affected the operations of countless businesses around the world. They are adapting to the “new normal” and are increasingly relying on online initiatives to drive product sales globally. The pandemic has also accelerated the digitalization momentum in many companies, especially in the Middle East and Africa, as well as in the Asia-Pacific region. These companies rely heavily on enterprise resource planning systems to streamline business operations. Cost reduction and productivity increase can be achieved by using these systems. Cloud-based ERP solutions are increasingly in demand due to the pandemic. The ability of enterprise resource planning solutions to increase productivity and reduce unwarranted expenses should contribute to the growth of these systems in the years to come. Hence, the pandemic is expected to have a positive impact on the global enterprise resource planning (ERP) software market.
Based on organization size, large organizations accounted for the highest revenue share in the global enterprise resource planning (ERP) software market in 2020. The growing focus on digitalization due of higher budgets, coupled with the requirement for greater planning in these organizations due to the higher volume of product sales or service offerings, contributed to the largest revenue share of these organizations on the global enterprise resource planning (ERP) software market.
Based on findings from Absolute Markets Insight, Asia-Pacific is expected to show the highest growth over the forecast years in the global enterprise resource planning (ERP) software market, owing to the initiatives of rapid scanning undertaken by various companies in the Asia-Pacific region. Another factor contributing to its growth is due to the growing attention of market players owing to the growth of businesses in countries such as India, China, Indonesia, Singapore, among others. Activities such as supply chain management (especially in healthcare and manufacturing), finance, administration, etc., are streamlined using enterprise resource planning systems. ‘business. Additionally, the region is experiencing a growth in local businesses that offer enterprise resource planning solutions. SourcePro Infotech Pvt. Ltd., for example, is an ERP provider headquartered in Ahmedabad, India. The solution can be deployed on the cloud or on the end user’s system, depending on their needs. The core modules of their ERP solution include customer relationship management (CRM), production, outsourcing, quality control and assurance, and finance, among others. These factors are expected to propel growth in the Asia-Pacific region in the coming years.
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Some of the key players operating in the global enterprise resource planning (ERP) software market are Epicor Software Corporation, deskera.com, Dassault Systemes, Infor, Microsoft, OpenPro, Inc., Oracle, QAD Inc., Ramco Systems , SAP SE, Sage Group plc, SYSPRO and Workday, Inc., among others.
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Global enterprise resource planning (ERP) software market
o Implementation and deployment services
o Training and support services
By type of deployment
• On the site
By organization size
• Big business
• Small and medium enterprises
By vertical sectors
• Banking, financial services and insurance (BFSI)
• Advanced technology
• Media and entertainment
• Health and life sciences
• Food and drink
• Financial direction
• Customer relationship management
• Project and contract management
• Sales management
• Human capital management
• Supply chain management
• Service and asset management
• North America
• Asia Pacific
• Middle East and Africa
• Latin America
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