The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

Increased need for bringing efficiency and transparency in the business operations are expected to drive innovation in ERP software manufacturing, thus driving the market during the forecast period.

The global ERP software market is expected to grow from $167.33 billion in 2022 to $187.88 billion in 2023 at a compound annual growth rate (CAGR) of 12.3%. The global erp software market size is expected to grow to $294.34 billion in 2027 at a CAGR of 11.9%.

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Global ERP software Market Segments Include:

• By Function:Finance, HR, Supply Chain, Other Functions
• By Deployment:On Premise ERP, Cloud ERP
• By Vertical:Manufacturing and Services, BFSI, Healthcare, Retail, Government Utilities, Aerospace & Defense, Telecom, Other Verticals
• By Geography:The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global ERP software market in 2021.

Major Market Players in the ERP software market include SAP, Oracle, Microsoft, Epicor, Infor, Sage Intacct, NetSuite, IFS, Syspro, Brightpearl, FinancialForce, Dolibarr, Awery Aviation.

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.

The ERP Software Global Market Report 2023  provides a ERP software market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The ERP software market forecast analyzes ERP software market size, ERP software market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

ERP is a software that organizations use to manage day-to-day business operations such as procurement, accounting, project management, risk management & compliance, and supply chain activities.

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