Enterprise Resource Planning Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
Enterprise resource planning market was valued at USD 45.11 billion in the current year and is expected to reach USD 71.97 billion over the next five years, registering a CAGR of 7.92% during the forecast period. Enterprise resource planning (ERP) is the integrated administration of key business activities, frequently mediated by software and technological advancements that occur in real time. An organization can use ERP to gather, store, organize, and evaluate data from numerous business activities. It is commonly referred to as business-management software.
Key HighlightsThe global enterprise resource planning market is highly fragmented, with many competitors like SAP SE, Microsoft Corporation, FinancialForce.com Inc., IBM Corporation, Oracle Corporation, etc. Players in the market adopt strategic activities such as partnerships, product development, mergers, and acquisitions to capture the market share. Some of the critical stories in the market are:
In October 2022, Kooks Headers & Exhaust, a manufacturer of high-quality auto racing headers and exhaust systems, chose SYSPRO Cloud ERP to provide the technology and information foundation for the company's growth.
In August 2022, Ramco Systems planned to implement its highly advanced and technically sophisticated Logistics-ERP software, resulting in a 1% increase in the organization's stock price. This ERP software implementation at Freight Specialists would effectively automate its corporate functions and services. Freight Specialists is a renowned Australia-based provider of freight and distribution services.
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