Global ERP Software Market Report 2021 - Opportunities And Strategies, Market Forecast And Trends

The enterprise resource planning (ERP) software market consists of sales of enterprise resource planning software. ERP software helps to connect the various departments in a business for the smooth flow of communication and information by providing a central database. This central database is a shared database which gathers, stores, analyzes and interprets data, allows any department to retrieve required information at any time, and supports multiple departments with ease.

Global ERP Software Market Size And Drivers::

The global ERP software market is expected to grow from $145.44 billion in 2020 to $148.37 billion in 2021 at a compound annual growth rate (CAGR) of 2%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $202.28 billion in 2025 at a CAGR of 8.1%. Increased need for bringing efficiency and transparency in the business operations is expected to benefit the enterprise resource planning software market in the forecast period as ERP enables the integration of high volume of data among several departments and manages the flow of information and communication throughout the organization.

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Trends In The Global ERP Software Market

One of the latest trends in the ERP software market is the integration of block chain technology with ERP. Block chain is a chronological series of data managed by multiple computers owned by multiple entities, and each block of data is secured by a cryptographic code. ERP vendors need to keep their software updated in order to maximize the value addition provided to their clients. Integration of ERP with block chain will create a secured platform for collaboration, through which systems of records can be freely shared to trusted parties. For example, SAP, a software company, is exploring ways in which it can implement block chain efficiently to its existing ERP. It is trying to integrate block chain to ERP to improve 3D printing and digital manufacturing.

Global ERP Software Market Segments:
The global ERP software market is further segmented –
By Function: Finance, HR, Supply Chain, Others
By Deployment: On Premise ERP, Cloud ERP
By Vertical: Manufacturing and Services, BFSI, Healthcare, Retail, Government Utilities, Aerospace & Defense, Telecom, Others
By Geography: The global ERP software market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.

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ERP Software Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides ERP software market overviews, analyzes and forecasts market size and growth for the global ERP software market, ERP software market share, ERP software market players, ERP software market segments and geographies, ERP software market’s leading competitors’ revenues, profiles and market shares. The ERP software market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.