The global ERP Software Market is ready to grow at a CAGR of about plus 7.4% over the next decade, reaching around $ plus 63.2 billion by 2025. Some of the important trends that the market is witnessing are embracing the growing demand for SMEs’ ERP, mobile and cloud applications of ERP software, and the development of the latest technologies.
The global ERP software market is expected to grow significantly over the next few years as the number of SMEs in such areas as retail, telecommunications, manufacturing and information technology (IT) services increases. Enterprise Resource Planning (ERP) is software that allows organizations to automate and manage their business operations.
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Some of the leading companies operating in the ERP software market are IBM Corporation, Oracle Corporation, Microsoft Corporation, SAP SE, and Syspro.
This ERP software market is used to manage back office activities and integrate business processes. Back office operations managed through ERP include inventory management production, order management and accounting. Each ERP model focuses on specific business departments such as material purchasing, inventory management, marketing, financing, and human resources. These modules can be customized according to your organization’s requirements.
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The availability of open source applications and the high cost of installing ERP software market can hinder future market growth. However, as the number of SMEs implementing advanced business management software in developing countries increases, it can create favorable opportunities in the market.
Key Product Type
- On-premise ERP
- Cloud ERP
Market by Application
- Logistics Industry
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