Market Research Report
Enterprise Resource Planning (ERP) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025
|Published by||IMARC Services Private Limited||Product code||967691|
|Published||Content info||142 Pages
Delivery time: 2-3 business days
|Enterprise Resource Planning (ERP) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025|
|Published: December 5, 2020||Content info: 142 Pages||
The global enterprise resource planning (ERP) market grew at a CAGR of around 8% during 2014-2019. The enterprise resource planning (ERP) platform shares a standard process and data model that assists in integrating different administrative and operational business processes into a unified system. It manages core end-to-end real-time business activities, such as finance, accounting, procurement, order management, supply chain operations, and risk management and compliance. Consequently, it improves efficiency, lowers risks, fosters collaboration and enhances supply chain management. Nowadays, several companies are offering cloud-based ERP solutions as they help organizations minimize both operational and capital expenses.
The increasing digitization of business processes represents one of the key factors escalating the demand for ERP solutions to automate tasks and streamline information in various departments. Additionally, it integrates financial processes, synchronizes human resource management, supports services, provides managers with powerful analytics from various construction processes and assists in effectively managing the full lifecycle of a project. As a result, it is employed in the banking, financial services and insurance (BFSI) sector worldwide. Apart from this, it finds application in the healthcare industry as it minimizes clinical errors, helps provide better patient care, and monitors clinical and administrative costs. Moreover, rising construction activities are further bolstering the market growth. Furthermore, due to the coronavirus disease (COVID-19) outbreak and consequent lockdowns imposed by governments of several countries, there is a rise in the adoption of remote working models and e-commerce channels. This is driving the demand for cloud-based ERP solutions to remotely manage complex systems, increase security, meet compliance standards and access data in real-time. Looking forward, IMARC Group expects the global enterprise resource planning (ERP) market to exhibit strong growth during the next five years.
Figure 17 Global: Enterprises Resource Planning (Finance and Accounting) Market Forecast: Sales Value (in Million US$), 2020-2025